Enter your salary — instantly see the maximum loan banks will approve based on FOIR norms.
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📊 RBI Rate Change Impact
Have a floating rate loan? If RBI changes rates, your EMI changes too. See the exact impact instantly.
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💵 Bonus Prepayment Calculator
Got a lump sum — bonus, maturity, gift? See if prepaying the loan or investing in SIP gives you more money.
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📈 Step-Up EMI Calculator — Finish Loan Early With Salary Hikes
Increase your EMI by your salary hike % each year. See exactly how many years you save vs paying the same EMI forever.
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Match your expected yearly salary hike
📅 Year-by-Year Schedule
About EMI
EMI Formula Explained
EMI = [P × R × (1+R)^N] / [(1+R)^N−1]. P = principal loan, R = monthly rate (annual ÷ 1200), N = tenure in months. Our calculator uses the same formula as all Indian banks — results are bank-accurate.
What is a Safe EMI?
Banks use FOIR (Fixed Obligation to Income Ratio). Total EMIs must be under 40–50% of gross income. For financial comfort, keep your EMI under 30% of take-home salary so emergencies don't derail repayment.
Prepayment Always Wins
On ₹50L at 8.5% for 20 years, paying ₹5,000 extra/month saves ₹12L+ in interest and closes loan 5 years early. Always choose tenure reduction over EMI reduction — it saves more.
Home Loan Tax Benefits
Old Tax Regime only: Section 80C — ₹1.5L/year on principal. Section 24b — ₹2L/year on interest. At 30% tax slab this saves ₹1.05L/year. Effective home loan rate drops from 8.5% to ~6.5%.
Fixed vs Floating Rate
Fixed rate stays constant throughout — good for certainty. Floating rate tracks RBI repo rate. In a rate-cut cycle (2025–26), floating rates benefit borrowers. Most Indian home loans are floating.
Balance Transfer Benefits
Worth doing if rate difference is 0.75%+ and remaining tenure is 7+ years. On ₹40L at 1% lower rate for 10 years, net savings (after 0.5% fee) = ₹2–3 lakh. Always verify prepayment clauses first.
FAQ
How much home loan can I get on ₹50,000 salary?
Banks allow EMI up to 40–50% of take-home salary (FOIR). At ₹50,000/month, safe EMI = ₹18,000–22,000. At 8.5% for 20 years, this is ₹19–23 lakh loan eligibility. If you have existing EMIs, subtract them from the safe limit first. Use the Eligibility Calculator above for exact figures.
Should I reduce EMI or tenure when prepaying?
Always reduce tenure — it saves significantly more interest. When you reduce tenure, compound interest stops sooner. Reducing EMI gives monthly cash flow relief but costs more total interest. Example: on ₹40L at 9%, a ₹5L prepayment saves ₹4.2L by reducing tenure vs ₹2.8L by reducing EMI.
Is it better to buy or rent in metro cities in 2025?
In most Indian metros, property prices are 300–400x monthly rent. At that ratio, if your SIP returns exceed property appreciation, renting and investing wins mathematically. Use the Buy vs Rent calculator above — input your actual rent and property price for a personalised answer.
Which bank has the lowest home loan interest rate in 2025?
Bank of Baroda offers from 8.40% and SBI from 8.50% p.a. for salaried borrowers with CIBIL 750+. HDFC, ICICI, Kotak and Axis are at 8.75%. Rates vary by loan amount, LTV ratio and credit profile. Check the Bank Comparison table for your loan amount.
How does CIBIL score affect my loan interest rate?
CIBIL 750+ gets the best rate (8.4–8.5% for home loans). Score 700–749 adds 0.25–0.5%. Score 650–699 adds 0.5–1%. Below 650 either gets rejected or charged 1.5–2% higher. On a ₹50L loan, 1% higher rate costs ₹3–4 lakh extra over 20 years. Check the CIBIL guide in results.