Loan EMI Calculator

Calculate your monthly EMI and compare live Home, Car & Personal Loan rates across 18 lenders.

Loan Type

Select Lender Preset

Home Loan AmountTotal principal loan amount borrowed

₹

₹50,000₹2 Cr

Interest Rate (p.a.)Auto-filled by lender selection or drag for custom rate

6 %24 %

Loan Tenure (Years)Repayment duration in years

1 Yr30 Yr

Principal AmountTotal Interest

Monthly EMI (8.50% p.a.)240 Months

₹26,035 / mo

Principal Loan Amount₹30,00,000

Total Interest Payable₹32,48,327

Total Repayment₹62,48,327

🏆 Lowest EMI Home Loan Lender

Punjab National Bank (7.50% p.a.)

EMI: ₹24,168/mo (Saves ₹4,48,056 interest)

Compare Home Loan Lenders for ₹30,00,000 (20 Years)

Sorted from lowest monthly EMI & lowest total interest (#1) to highest.

12h Auto-Synced Rates

Rank	Lender Name	Category	Rate (p.a.)	Monthly EMI	Total Interest	Total Payable
#1	Punjab National Bank★ Lowest EMI	Public Sector	7.50%	₹24,168/mo	₹28,00,271	₹58,00,271
#2	State Bank of India★ Lowest EMI	Public Sector	7.50%	₹24,168/mo	₹28,00,271	₹58,00,271
#3	Tata Capital★ Lowest EMI	NBFC & Housing	7.50%	₹24,168/mo	₹28,00,271	₹58,00,271
#4	Kotak Mahindra Bank	Private Sector	7.60%	₹24,352/mo	₹28,44,376	₹58,44,376
#5	IDFC FIRST Bank	Private Sector	7.75%	₹24,628/mo	₹29,10,830	₹59,10,830
#6	Axis Bank	Private Sector	8.00%	₹25,093/mo	₹30,22,368	₹60,22,368
#7	Bank of India	Public Sector	8.30%	₹25,656/mo	₹31,57,488	₹61,57,488
#8	Union Bank of India	Public Sector	8.35%	₹25,751/mo	₹31,80,141	₹61,80,141
#9	Bank of Baroda	Public Sector	8.40%	₹25,845/mo	₹32,02,832	₹62,02,832
#10	Canara Bank	Public Sector	8.50%	₹26,035/mo	₹32,48,327	₹62,48,327
#11	LIC Housing Finance	NBFC & Housing	8.50%	₹26,035/mo	₹32,48,327	₹62,48,327
#12	Bajaj Housing / Finserv	NBFC & Housing	8.50%	₹26,035/mo	₹32,48,327	₹62,48,327
#13	PNB Housing Finance	NBFC & Housing	8.50%	₹26,035/mo	₹32,48,327	₹62,48,327
#14	Yes Bank	Private Sector	8.65%	₹26,320/mo	₹33,16,850	₹63,16,850
#15	HDFC Bank	Private Sector	8.70%	₹26,416/mo	₹33,39,765	₹63,39,765
#16	ICICI Bank	Private Sector	8.75%	₹26,511/mo	₹33,62,717	₹63,62,717
#17	Federal Bank	Private Sector	8.80%	₹26,607/mo	₹33,85,706	₹63,85,706
#18	IndusInd Bank	Private Sector	8.90%	₹26,799/mo	₹34,31,794	₹64,31,794

Borrower Tip: Starting rates shown above apply to applicants with a 750+ credit score.

How the Reducing-Balance Loan EMI Formula Works

Every bank and NBFC in India calculates Equated Monthly Installments (EMI) on a monthly reducing principal balance:

EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1]   |   r = Annual Rate / 1200, n = Tenure in Months

Frequently Asked Questions (Loan EMI Calculator)

Which bank has the lowest Home Loan interest rate in India?

Public Sector Banks such as Bank of India (8.30%), Union Bank of India (8.35%), Bank of Baroda (8.40%), and SBI (8.50%) currently offer the lowest starting Home Loan interest rates for borrowers with a 750+ CIBIL score.

How is Monthly Loan EMI calculated?

Loan EMI is calculated on a monthly reducing-balance basis using principal loan amount (P), monthly interest rate (r = Annual Rate / 1200), and total monthly installments (n = Years × 12).

How can I reduce my total home loan interest outgo?

Choosing a lender with a 0.25%–0.40% lower interest rate, opting for a slightly shorter tenure, or making one extra EMI prepayment each year can save several lakhs in total interest.