Home Loan EMI Calculator
Plan your monthly outgo before you commit. Get the exact EMI, total interest and complete amortization schedule for a Kolkata home loan — with current 2026 rates from the major banks.
How your home loan EMI works
Your EMI (Equated Monthly Installment) has two components: principal — the portion of the loan itself you're repaying — and interest — the bank's charge for lending you the money. In the early years of a loan, the interest component is much larger; the principal share grows as the loan matures. This is why prepaying in the first 5–7 years saves the most interest.
Current home loan rates in Kolkata (2026)
Home loan rates for salaried borrowers with strong credit scores currently range from 8.35% to 9.25% depending on the lender and loan amount. Public sector banks typically offer 20–40 bps lower rates than private banks. Rates on this page use 8.5% as a realistic default — verify current rates with your lender before finalizing.
Loan eligibility rules of thumb
- EMI-to-income ratio: banks typically cap total EMIs at 40–50% of your net monthly income
- Loan-to-value: up to 90% for homes below ₹30L, 80% below ₹75L, 75% above ₹75L (RBI guidelines)
- Tenure: most lenders cap tenure at retirement age (typically 60), so the maximum tenure depends on your current age
- CIBIL score: 750+ gets you the best rates; below 700 you may pay a 25–75 bps premium
Tax benefits worth knowing
| Section | What it covers | Annual limit |
|---|---|---|
| Section 24(b) | Interest paid on home loan | ₹2,00,000 |
| Section 80C | Principal repayment (part of overall 80C limit) | ₹1,50,000 |
| Section 80EEA | Additional interest for first-time buyers (property ≤ ₹45L) | ₹1,50,000 |
At a 30% tax slab, these can effectively reduce your net EMI by 15–20% in the early loan years when interest is highest.
What's NOT in the EMI calculator
- Processing fees — 0.25–1% of loan amount, typically capped at ₹10k–₹25k
- Legal & valuation charges — ₹5,000–₹15,000 one-time
- MODT (Memorandum of Deposit of Title) — a nominal state charge on the mortgage document
- Home insurance — some banks bundle it; expect ₹8–15k annually
Complete your buyer math
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