Home loan EMI & eligibility
Your EMI, how much loan your income supports, what prepaying saves, and the year-by-year schedule.
Your EMI
How much can you borrow?
Banks usually let all your EMIs together take up to about half of take-home pay. Each bank sets its own limit.
What does prepaying save?
Assumes the EMI stays the same and the tenure shortens.
Year-by-year schedule
Common questions
How is home loan EMI calculated?
EMI = P × r × (1+r)^n ÷ ((1+r)^n − 1), where P is the loan, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of months.
How much home loan can I get on my salary?
Most banks let all your EMIs together take roughly half of your take-home pay. The calculator turns that EMI into a loan amount at your rate and tenure. Banks also look at age, credit score and the property.
Is it better to prepay or invest?
Prepaying saves interest at your loan rate with no risk. Compare it with what you would earn after tax elsewhere, and keep an emergency fund before prepaying.
Sources
- Standard reducing-balance EMI formula. Affordability uses a 50% fixed-obligation ratio as a rule of thumb; lenders set their own limits.
- Rates checked November 2026. An estimate for planning, not advice; confirm with the office concerned before paying.
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