About mortgage calculator
A mortgage is a long-term loan for property. The monthly payment stays fixed for a fixed-rate loan, and the calculator also shows the total interest paid over the term.
What decides your payment
The loan amount, interest rate and tenure. A longer tenure lowers the monthly payment but increases the total interest.
Before you borrow
- Keep total EMIs below roughly 40 to 50 percent of your monthly income.
- Include fees, insurance and registration in your budget.
- Check whether the rate is fixed or floating, and what prepayment charges apply.
A worked example
A ₹50 lakh home loan at 8.5 percent for 20 years has an EMI of about ₹43,391. Over 240 months you repay ₹1.04 crore, of which about ₹54 lakh is interest. Shortening the tenure to 15 years raises the EMI but cuts the interest sharply.
