Home Loan Calculator
Calculate your home loan EMI, eligibility, and total interest with tax benefits.
Home Loan Calculator
About Home Loan Calculator
A home loan calculator helps you determine your monthly EMI, loan eligibility, and total interest payable. It's essential for planning your home purchase and understanding the financial commitment.
Home Loan Types:
- Home Purchase Loan: For buying a new or resale property
- Home Construction Loan: For constructing a house on owned land
- Home Improvement Loan: For renovation or repair
- Plot Loan: For purchasing land for construction
- Balance Transfer: Transferring existing loan to another bank
Eligibility Criteria:
- Age: 21-65 years for salaried, 25-70 for self-employed
- Income: Minimum ₹25,000 per month
- Employment: 2+ years experience
- Credit Score: 750+ for best rates
- FOIR: Maximum 50-60% of monthly income
Documents Required:
Income Documents:
- Salary slips (3 months)
- Form 16 / ITR (2 years)
- Bank statements (6 months)
Property Documents:
- Sale agreement
- NOC from builder
- Approved building plan
Important: This calculator provides estimates. Actual EMI may vary based on
bank policies, processing fees, and other charges. Always verify with your lender.
Current Interest Rates
| Bank | Rate | Processing Fee |
|---|---|---|
| SBI | 8.50% | 0.35% |
| HDFC | 8.60% | 0.50% |
| ICICI | 8.75% | 0.50% |
| Axis Bank | 9.00% | 1.00% |
| PNB | 8.40% | 0.35% |
Quick Calculate
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Home Loan Tips
- Maintain a high credit score (750+)
- Keep debt-to-income ratio below 50%
- Compare rates from multiple lenders
- Consider shorter tenure to save interest
- Make prepayments when possible
- Check for hidden charges and fees