Mortgage Calculator
Free online mortgage calculator — estimate monthly payments, total interest, and see your amortization schedule.
Plan your home purchase
Monthly Payment
Where your payment goes
Your payment stays the same each month, but the share going toward principal grows as the loan is repaid.
How mortgage payments work
Each fixed monthly payment covers both interest on your remaining balance and a portion of the principal — the split shifts toward principal over time.
The amortization formula
Lenders use a standard formula to spread principal and interest into equal monthly payments over your loan term.
Example calculation
A ₹30,00,000 home with 20% down (₹6,00,000), at 8.5% p.a. over 20 years.
Choosing a loan term
A shorter term saves substantially on total interest but comes with a higher monthly payment.
15-year term
Higher monthly payments, but you own your home faster and pay far less interest overall.
20-year term
A middle ground — moderately higher payments than a 30-year loan with meaningful interest savings.
30-year term
The lowest monthly payment, giving more monthly cash flow at the cost of more interest over time.
Frequently asked questions
Common questions about mortgage payments and how this calculator works.
Does this include property tax and processing fees?
No — this calculates principal and interest (EMI) only. Your actual cost will typically be higher once stamp duty, registration charges, processing fees, and property tax are added.
What's a good down payment amount?
20% is a common benchmark, and most lenders cap the loan-to-value (LTV) ratio around 75-90% of the property's value, so you'll usually need at least 10-20% upfront.
How does the interest rate affect my payment?
Even small rate changes have a big impact over the loan term. On a ₹24,00,000 loan over 20 years, moving from 8.5% to 9.5% raises the monthly payment by roughly ₹1,470.