Calculate your home-loan EMI with current RBI-linked rates from SBI, HDFC and ICICI. Instant, on this page — free, no signup.
Every Indian bank uses the same reducing-balance formula:
EMI = P × r × (1+r)n ÷ ((1+r)n − 1)
P = loan amount, r = monthly rate (annual ÷ 12 ÷ 100), n = months (years × 12). See what EMI means and EBLR.
| Lender | Typical rate (p.a.) | Notes |
|---|---|---|
| SBI | 7.75% – 8.60% | Floating, linked to RBI repo (EBLR) |
| HDFC | 8.00% – 8.75% | Salaried vs self-employed differ |
| ICICI Bank | 8.00% – 8.90% | Depends on amount & profile |
| Axis Bank | 8.25% – 9.00% | Floating; processing fee applies |
| LIC Housing Finance | 8.25% – 8.90% | Popular for self-employed |
RBI repo rate is currently 5.25%. Rates as of June 2026 · Source: Reserve Bank of India & bank disclosures. Verify with your bank.
Example: ₹50,00,000 at 8.5% for 20 years.
Tip: a small prepayment early in the tenure removes years of interest. Drag the loan-amount or rate slider above to see your own numbers.
EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the principal, r the monthly rate (annual ÷ 12 ÷ 100), and n the number of months. Every Indian bank uses this same reducing-balance formula.
Roughly 7.75%–9% p.a. as of June 2026, floating with the RBI repo (5.25%). Your CIBIL score, LTV and income type decide the exact rate.
Up to 30 years at most banks, subject to your age at maturity. A longer tenure lowers the EMI but raises total interest.
Prepaying saves a guaranteed ~8.5%. Investing may earn more (Nifty long-run ≈ 12%) but carries risk. The calculator compares both with your numbers.
Under the old regime, Section 24(b) allows up to ₹2 lakh on interest and 80C up to ₹1.5 lakh on principal. Confirm eligibility with a tax advisor.