Home loan EMI and cost of buying calculator
Your EMI is only half the question. A home loan funds a share of the flat's price, but stamp duty, registration, brokerage and interiors cannot be added to it, so they come out of your own pocket alongside the down payment. This calculator shows both numbers together.
On a ₹80 L loan over 20 years
₹7.30 L of this is on top of your down payment, and a home loan will not cover it
A home loan pays for part of the flat. It does not pay the state, the society or the carpenter. This is what has to come from your own pocket.
- Down payment
- ₹20,00,000
- Stamp duty
- ₹6,00,000
- Registration
- ₹30,000
- Brokerage
- ₹1,00,000
- Interiors
- ₹0
- Other
- ₹0
- Cash needed
- ₹27,30,000
- Total cost of buying
- ₹1,07,30,000
Estimates for planning, not a quotation or an offer of credit. Your actual rate, eligibility and charges are set by your lender. Stamp duty and registration are set by the state and change from time to time.
Why this one is different
Every bank runs an EMI calculator and they all do the same thing: three inputs, a monthly figure, and an amortisation table. That figure is genuinely useful and it is not the number that stops a purchase.
What stops a purchase is the cash needed on the day. A buyer who has saved a twenty percent down payment often has not counted the stamp duty, the registration, the brokerage or the furnishing, and discovers the gap in the week before registration. A lender has no reason to mention it. We do.
Common questions
- Can stamp duty be included in a home loan?
- Generally no. Lenders fund a share of the property's agreement value, and stamp duty and registration sit outside it. That is why they have to be budgeted as cash, and it is the most common reason a buyer is short at the last moment.
- How much down payment do I need?
- Lenders fund a proportion of the value rather than all of it, so the rest is yours to find. The practical number to plan around is not the down payment alone but the down payment plus every cost the loan will not cover.
- Is it better to reduce the EMI or the tenure when I prepay?
- Reducing the tenure saves more interest, because the interest is charged on the outstanding balance for fewer months. Reducing the EMI gives you more monthly room. The prepayment tab here models the tenure reduction.
- Why is so much of my early EMI going to interest?
- Interest is charged on the balance outstanding, and the balance is at its largest at the start. In the first year of a twenty year loan the large majority of each instalment is interest, and the ratio only reverses in the later years. The year by year tab shows this on your own numbers.
- What is the EMI on a 30 lakh home loan over 15 years?
- At 8.5 percent, about 29,500 rupees a month, and about 26,000 over 20 years. The rate is the illustration, not a quote: put your bank's actual rate into the calculator and it shows the EMI, the total interest and the cash you need on top of the loan for stamp duty and registration.
- How much home loan can I get on a 40,000 rupee salary?
- Lenders usually cap the EMI at roughly 40 to 50 percent of take home pay, so on 40,000 a month the EMI ceiling is about 16,000 to 20,000. At 8.5 percent over 20 years that supports a loan of roughly 18 to 23 lakh rupees. Each bank applies its own multiplier, so treat this as the range to plan around, not an offer.
Where these numbers get used
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