Home Loan EMI Calculator
A 20% deposit on a flat is never 20% of the money. This starts from the price of the property instead of a loan amount, applies the borrowing ceiling the Reserve Bank actually sets, and adds the charges your loan is not permitted to cover.
The property and the loan
This starts from the price of the flat, not the loan amount, because how much you can borrow is capped by rules rather than chosen.
Of the property price.
What you also pay in cash
None of these can be added to the loan. The RBI bars lenders from counting them inside the property cost, so they come out of pocket.
Verified base rates: Delhi 6% for men and 4% for women, Maharashtra and Karnataka 5%, Tamil Nadu 7%. Registration fee and any local cess sit on top. Cannot be added to the loan.
18% GST is added to this.
Tax treatment
Cash you need on the day
₹15,88,320
- Monthly EMI
- ₹41,656
- You can borrow
- ₹48,00,000
- Total interest
- ₹51,97,324
- Share of the price
- 26.5%
| Deposit | ₹12,00,000 |
|---|---|
| Stamp duty | ₹3,00,000 |
| Registration | ₹60,000 |
| Processing fee with GST | ₹28,320 |
| Cash needed | ₹15,88,320 |
A 20% deposit on this flat is ₹12,00,000, and the cash you actually need is ₹15,88,320, or 26.5% of the price. The gap is stamp duty, registration and the processing fee, none of which the loan can cover.
Under the new tax regime, which has been the default since assessment year 2024-25, neither the interest deduction nor the principal deduction is available on a home you live in. Your first-year interest of ₹4,04,335 and principal of ₹95,531 therefore buy no tax relief. Switch the regime above to see the old-regime position.
Rates, stamp duty and registration vary by lender and by state, and a floating rate will move over the life of the loan, so this is arithmetic on the figures you enter rather than a quote. The tax lines are general information, not filing advice.
Cite this calculator
Using this in an article, a report or a class? Please credit it, and link back so readers can run the numbers themselves.
The Money Decoded. "Home Loan EMI Calculator (India)." https://themoneydecoded.com/calculators/home-loan-emi
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Why does it ask for the property price?
Because how much you can borrow is decided by rules, not chosen, so asking for a loan amount assumes you already know the answer you came looking for. Fourteen of the fifteen India home loan pages surveyed in August 2026 open with a loan amount field.
Only one, emicalculator.net, starts from a home value and works the loan out from it. Every bank calculator checked, HDFC, ICICI, Axis, Union Bank and SBI, asks how much you want to borrow and amortises it. That answers a question a buyer cannot yet answer.
The survey turned up a second split worth knowing about. EMI calculators never ask your income, and eligibility calculators ask almost nothing else. Not one page lets you move between what you can afford and what it would cost, so a buyer has to run two tools on two sites and reconcile them by hand.
What is the ceiling on what you can borrow?
The loan-to-value ceiling is the maximum share of a property's value that may be lent against it, and in India it steps down as the loan gets bigger: 90% up to Rs 30 lakh, 80% from Rs 30 lakh to Rs 75 lakh, and 75% above Rs 75 lakh. Zero of the fifteen pages surveyed mention it.
LTV showed up twice in the whole set, and both times as marketing. One lender listed "up to 90%" as a product feature. Another advertised 65% on an unrelated overseas product. Nobody told an Indian buyer the ceiling exists or that it decides their minimum deposit.
The effect is easiest to see at the top band. On a Rs 1.2 crore flat, 75% is Rs 90 lakh, so the deposit cannot be less than Rs 30 lakh however much you wanted to borrow. A buyer planning 20% down is 5 percentage points short before they start, and that is Rs 6,00,000 of cash they had not budgeted.
One nuance our reading of the Directions turned up, worth stating because it affects how firm the rule is. For housing finance companies the ceiling is written as a prohibition: no housing finance company shall grant loans exceeding those ratios. For banks it is only implied, by the highest row of a risk-weight table, with no sentence forbidding anything. Same numbers, different force of language, two separate documents.
Why does a 20% deposit need 27% in cash?
Because stamp duty, registration and the processing fee sit outside the loan, and the RBI bars lenders from folding them into the property cost. The wording is direct: a bank shall not include stamp duty, registration and other documentation charges in the cost of the housing property it finances, so that the effectiveness of the loan-to-value norms is not diluted.
There is one exemption, for a house costing Rs 10 lakh or less, added to help buyers in the economically weaker and low income categories. Above that, the charges are cash from your own pocket on the day.
On a Rs 60 lakh flat at a 20% deposit, that means Rs 12,00,000 as the deposit and roughly Rs 16,48,000 in total, once stamp duty at 6%, registration at 1% and a 0.5% processing fee with GST are counted. About 27.5% of the price. The extra Rs 4,48,000 is the number that derails a purchase two weeks before registration.
Exactly one of the fifteen pages models stamp duty inline. PNB Housing sends it to a separate calculator, Axis Bank to a blog post, and the rest omit it. That is a large hole in a set of pages whose entire purpose is telling buyers what a home costs.
Do you still get a tax deduction on a home loan?
Not on the new tax regime, which has been the default since assessment year 2024-25, and which disallows both the interest deduction on a home you live in and the principal deduction under section 80C. Ten of the fifteen pages surveyed say nothing about tax at all.
Of the five that do, one gives the Rs 2,00,000 and Rs 1,50,000 figures with no mention of which regime they belong to, which is a live accuracy problem now that most filers are on the regime where neither applies. A single page in fifteen, Jupiter, says the words "in the old tax regime". A tax-filing platform covers home loan tax on its home loan page not at all.
Under the old regime the reliefs are real: interest on a self-occupied home is deductible up to Rs 2,00,000 a year under section 24(b), and principal repayment counts inside the Rs 1,50,000 that section 80C already has to cover alongside your provident fund and insurance. A let-out property keeps an uncapped interest deduction under both regimes, but the new regime bars setting the resulting loss against your other income and bars carrying it forward, which removes most of its value.
One dating point, because publishers are getting it wrong. Sections 24(b), 80C and 115BAC belong to the Income-tax Act, 1961, and that Act governs the return being filed now. The Income-tax Act, 2025 commenced on 1 April 2026 and renumbers the same rules to sections 22(1)(b), 123 and 202, but it governs FY 2026-27, first filed in July 2027. CBDT's transition FAQ describes the two years as entirely separate compliance obligations. Tax treatment turns on personal circumstances, so a Chartered Accountant is the right person to confirm yours.
What this calculator does not do
It does not model a floating rate, and neither does any tool in the survey. Every one computes a fixed rate across the full tenure while most Indian home loans are linked to an external benchmark and move with it. SBI publishes home loan rates of 7.25% to 8.55% effective 20 May 2026 against a prevailing benchmark of 7.90%, priced off the borrower's credit score, so treat any twenty-year total as a snapshot at today's rate.
It does not check whether a lender will approve you. Income, existing obligations, credit score and employment all decide that, and the debt-to-income calculator covers the ratio lenders actually use. It also does not model paying the loan down early, which the loan prepayment calculator handles, including the choice between cutting your EMI and cutting your tenure.
Stamp duty rates are set by each state and vary, sometimes with a concession for women buyers, so treat the 6% default as a placeholder for your own state's figure, not a national one. For borrowing in general, beyond housing, the plain loan calculator takes a loan amount directly.
Pair this with the guide
Pre-EMI vs Full EMI: What the Choice Actually Costs covers the case this calculator does not: a flat that is still being built, where the loan arrives in stages and you pay interest on what has been released while the principal sits untouched. On a Rs 50 lakh loan that choice costs about Rs 10,39,678 more over the life of the loan. The calculator prices a finished home. The post prices the wait.
Frequently asked questions
How much can I actually borrow against a property in India?
It is capped by the loan-to-value ceiling, which depends on the size of the loan. The RBI Directions issued in November 2025 set the ceiling at 90% for loans up to Rs 30 lakh, 80% from Rs 30 lakh to Rs 75 lakh, and 75% above Rs 75 lakh. So on a Rs 1.2 crore flat the most that can be lent is Rs 90 lakh, which forces a deposit of 25% whatever you had planned. Of fifteen India home loan EMI pages surveyed in August 2026, not one mentioned this ceiling. LTV appeared twice, both times as a lender advertising 'up to 90%' as a feature.
Can stamp duty and registration be added to my home loan?
No, and that is a regulatory rule rather than a lender preference. The RBI Directions state that a bank shall not include stamp duty, registration and other documentation charges in the cost of the housing property it finances, so that the effectiveness of the loan-to-value norms is not diluted. The Housing Finance Companies Directions carry the same rule. There is one exemption, for houses costing Rs 10 lakh or less. For everyone else those charges are cash out of pocket on top of the deposit.
Why does a 20% deposit need more than 20% in cash?
Because stamp duty, registration and the processing fee sit outside the loan. On a Rs 60 lakh flat with a 20% deposit, the deposit is Rs 12,00,000 but the cash you need is about Rs 16,48,000, roughly 27.5% of the price, once stamp duty at 6%, registration at 1% and a 0.5% processing fee with 18% GST are added. The gap of about Rs 4,48,000 is the part most calculators never show, because fourteen of the fifteen surveyed start from a loan amount and never ask what the property costs.
Do I still get a tax deduction on my home loan?
Probably not, if you are on the new tax regime, which has been the default since assessment year 2024-25. Under it the interest deduction on a home you live in and the principal deduction under section 80C are both unavailable. Under the old regime, interest on a self-occupied home is deductible up to Rs 2,00,000 a year under section 24(b), and principal counts within the Rs 1,50,000 limit of section 80C. A let-out property keeps the uncapped interest deduction under both regimes, but the new regime bars setting the resulting loss against other income and bars carrying it forward. Confirm your own position with a Chartered Accountant.
Which Income Tax Act sections apply right now?
Sections 24(b), 80C and 115BAC of the Income-tax Act, 1961, for the return being filed now. Two Acts are operative at once: the Income-tax Act, 2025 commenced on 1 April 2026, but it governs income of FY 2026-27, whose return is not due until July 2027. The return in season today covers FY 2025-26, assessed as AY 2026-27, and is governed by the 1961 Act. CBDT's own transition FAQ calls these two entirely separate compliance obligations. The 2025 Act renumbers the same rules to sections 22(1)(b), 123 and 202, so a page citing those numbers for this year's filing is a year early.
Does this calculator model a floating rate?
No, and neither does any other one surveyed. It computes a fixed rate for the whole tenure, which is what every India home loan EMI calculator in the survey does silently. Most Indian home loans are floating and linked to an external benchmark, so the EMI will move over twenty years. SBI, for example, publishes home loan rates of 7.25% to 8.55% effective 20 May 2026 against a prevailing external benchmark rate of 7.90%, and prices them off the borrower's CIBIL score. Treat any twenty-year figure as a snapshot at today's rate.
Sources
- Reserve Bank of India, Reserve Bank of India (Commercial Banks, Credit Facilities) Directions, 2025 (RBI/DOR/2025-26/154, issued 28 November 2025, updated 15 July 2026; paragraph 111 for the loan-to-value and risk weight table, paragraph 113 for the exclusion of stamp duty and registration from the property cost), rbi.org.in
- Reserve Bank of India, Reserve Bank of India (Housing Finance Companies) Directions, 2025 (RBI/DoR/2025-26/365, issued 28 November 2025, updated 15 April 2026; paragraph 58 for the loan-to-value prohibition and the stamp duty exclusion), rbi.org.in
- Income Tax Department, Salaried Individuals for AY 2026-27 (page last reviewed 9 July 2026; the deductions available under the new regime, and the section 24(b) and section 80C limits under the old regime), incometax.gov.in
- Central Board of Direct Taxes, FAQs on Interplay and Transition to the Income-tax Act, 2025 (confirming that FY 2025-26 is governed by the 1961 Act and assessed as AY 2026-27, while FY 2026-27 falls under the 2025 Act), incometaxindia.gov.in
- State Bank of India, published home loan interest rates effective 20 May 2026 and the external benchmark lending rate, cited for one real dated rate, sbi.bank.in
- Observations about how other home loan EMI calculators present inputs, costs, tax and rate type come from a live review of fifteen ranking India pages on 17 August 2026, reading served markup and calculator scripts rather than marketing copy.