About this calculator
Every Indian home loan runs on the same reducing-balance EMI formula: each month you pay interest on the outstanding balance and the rest reduces the principal, so the interest share shrinks over time. What changes the real cost of buying is everything around the loan — and the biggest piece is stamp duty, which is set by states, not by the Centre or your bank. On a ₹75 lakh home the duty-plus-registration bill is ₹4.8 lakh in Mumbai and ₹8.25 lakh in Tamil Nadu. Pick your state above; several states also cut duty when a woman is a buyer, so tick that box if it applies.
Rates in late 2026 start around 7.25% at SBI for the strongest profiles, with most borrowers landing somewhere in the 7.5–9% band on repo-linked floating loans. The default here is 8.5% — a realistic mid-market figure, not a teaser rate. Because the rate floats with the RBI repo rate, treat the EMI as the EMI at today's rate; the amortization table shows how the balance falls if the rate stays put.
How to use it
- Enter the property price and your down payment — the difference is the loan amount.
- Set the interest rate and tenure (20–30 years is typical; check the total interest before choosing 30).
- Pick your state so stamp duty and registration are calculated on its table; tick the woman-buyer box if it applies.
- Add the processing fee your bank charges (0.25–1% of the loan is the usual range, plus GST).
- Read the EMI, then the upfront cash you need on top of the down payment.
The formula
P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of monthly instalments. This is the reducing-balance method every Indian bank uses: interest each month is charged only on what you still owe. Stamp duty is a separate state tax on the property value (or circle rate, if higher), charged once at registration — it is not part of the EMI.
Worked example
A ₹75,00,000 Mumbai home with ₹15,00,000 down leaves a ₹60,00,000 loan. At 8.50% over 20 years the EMI is ₹52,069 a month and the total interest is about ₹64.97 lakh — more than the loan itself, which is typical of long tenures. Mumbai stamp duty at 6% is ₹4,50,000, plus registration of 1% capped at ₹30,000, so ₹4,80,000 of duty and registration on top of the down payment; a woman buyer pays 5% duty instead, saving ₹75,000.
Frequently asked questions
What is the EMI on a ₹50 lakh home loan?
At 8.50% over 20 years: ₹43,391 a month. Over 15 years it is ₹49,237 (but about ₹15.5 lakh less interest overall); over 30 years it falls to ₹38,446 while total interest climbs past ₹88 lakh. Use the calculator with your exact rate — half a percentage point on ₹50 lakh over 20 years changes the EMI by roughly ₹1,500 a month.
How much are stamp duty and registration in Maharashtra?
Mumbai: 6% stamp duty (5% + 1% metro cess) and 1% registration capped at ₹30,000. Pune, Thane, Nagpur and other municipal areas: 7% all-in duty, same registration cap. A woman buyer gets 1 percentage point off the duty in both cases (5% in Mumbai, 6% elsewhere). On a ₹75 lakh Mumbai home that is ₹4,80,000 for a man or joint male buyer and ₹4,05,000 with the women's concession.
Which state has the highest property purchase charges?
Of the states listed here, Tamil Nadu: 7% stamp duty plus a full 4% registration charge — 11% of the property value before you have paid a rupee of the loan. Uttar Pradesh is 7% + 1% (with a 1% duty rebate for women, capped at ₹10 lakh of rebate). Karnataka's slabbed duty (2/3/5% plus cess and surcharge) works out to about 5% all-in on a ₹75 lakh home once the 1% registration is added, rising toward 6.6% on much larger purchases. Always confirm the current rate on your state's IGR portal before registering — states revise these charges in their budgets.
Does the EMI include stamp duty or the processing fee?
No — an EMI only ever covers the loan itself (principal + interest). Stamp duty, registration and the processing fee are one-time costs around the loan. Some banks will fold a processing fee into the sanction, but duty and registration are paid to the state at registration and cannot be part of the EMI; this calculator shows them in the upfront figure so you budget the full cash needed.
What formula does this home loan emi calculator — india calculator use?
EMI = P × r(1 + r)^n ÷ ((1 + r)^n − 1) P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of monthly instalments. This is the reducing-balance method every Indian bank uses: interest each month is charged only on what you still owe. Stamp duty is a separate state tax on the property value (or circle rate, if higher), charged once at registration — it is not part of the EMI. The worked example on this page applies the formula step by step with real numbers, so you can verify the result by hand.