Home Loan Calculator for India
Calculate your home loan EMI and total interest for Indian properties.
Typical Rate
8%
Common Term
20 years
Min Down Payment
10%
Max Term
30 years
Calculate Your Mortgage Payment in INR
Enter the home price and loan details to estimate your monthly payment. Default values are based on typical India market conditions.
Home Price
Down Payment
$020% of home price
Loan Details
Additional Monthly Costs
Optional: Include property tax and insurance in your monthly estimate
Monthly Payment
Loan Summary
Mortgage Tips for India
Compare floating vs fixed interest rates from multiple banks
Take advantage of home loan tax benefits under Section 80C and 24(b)
PMAY (Pradhan Mantri Awas Yojana) offers subsidies for eligible buyers
Check for prepayment charges before choosing a lender
Factor in registration charges and stamp duty (varies by state)
Important Considerations in India
- Most banks require 10-20% down payment
- Floating rates are more common and typically lower than fixed rates
- Processing fees typically 0.5-1% of loan amount
- Stamp duty and registration charges vary by state (5-10% of property value)
Frequently Asked Questions
What is the typical mortgage term in India?
In India, common mortgage terms are 15, 20, 25, 30 years. The most popular option is 20 years, balancing monthly affordability with total interest paid. The maximum term typically available is 30 years.
What is the minimum down payment required?
The minimum down payment in India is typically 10% of the home price. A 20% down payment is often recommended to get the best terms.
How much would a typical monthly payment be?
For a ₹7,500,000 home with 20% down (₹1,500,000) at 8% for 20 years, the principal and interest payment would be approximately ₹50,186 per month. Add property taxes and insurance for your total housing payment.
Does this calculator need my bank information?
No. This calculator is 100% private. There's no bank connection, no account creation, and no data collection. Everything is calculated in your browser and never sent anywhere. Your financial privacy is completely protected.
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Track Your Budget While Saving for a Home
Download BUDGT to track your daily spending and build your down payment faster.
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