Calculate EMI, stamp duty, registration, processing fees & prepayment savings
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Our Home Loan Calculator helps Indian homebuyers estimate the total cost of purchasing a property including EMI, stamp duty, registration charges, and processing fees. It also shows prepayment savings.
Stamp duty and registration charges vary significantly across Indian states. Maharashtra charges 6% stamp duty plus 1% local body tax, while Delhi offers a reduced 4% rate for female buyers. Always verify current rates with your state's registration department.
How is home loan EMI calculated?
EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P is principal, R is monthly interest rate, and N is number of months. Our calculator uses this standard formula and shows the complete amortization schedule.
What is the minimum down payment for a home loan in India?
Most banks require 10-20% of the property value as down payment. For properties above ₹75 lakh, RBI mandates a minimum 20% down payment. Some banks may require higher down payment based on your credit score and income.
Can I save tax on home loan interest?
Yes. Under Section 24(b), you can claim deduction up to ₹2 lakh per year on home loan interest for self-occupied property. Under Section 80C, principal repayment up to ₹1.5 lakh is also deductible. First-time buyers get additional ₹50,000 under Section 80EE.
Is prepayment of home loan beneficial?
Prepayment reduces either your EMI or loan tenure, saving significant interest. Most banks don't charge prepayment penalties on floating rate home loans. Use our prepayment calculator to see exact savings.
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