Home Loan Calculator
Repayment Capacity (FOIR)
Property Funding Breakdown
Assessment Summary
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Understand what shapes your loan eligibility
FOIR ()
Salaried FOIR ranges from 40% (<₹25k NMI) to 75% (≥₹2L NMI). Self-employed: 70% up to ₹6L NAI, 80% above. Max new EMI = FOIR × Net Income − existing EMIs.
LTV / Margin norms
Up to ₹30L loan: 90% LTV. ₹30–75L: 80% LTV. Above ₹75L: 75% LTV. Stamp duty & registration usually excluded from cost (except dwelling ≤₹10L).
Repayment period
Maximum 30 years including moratorium. Moratorium up to 36 months depending on construction stage / floors. EMI dates typically 4th or 10th.
Rental & other income
Rental income accepted under strict conditions (core income threshold, bank credits, ITR reflection, ownership). Future rent from the financed property limited by location.
Eligibility is not sanction
This estimate applies the circular FOIR & LTV rules under the assumptions entered. Final sanction depends on bank verification, valuation, credit score and policy.
General educational information. Product terms and lender policy vary; confirm details with your lender.
Loan Amount Basis
Principal vs Interest
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Repayment Details
Know what your monthly EMI really means
Principal versus interest
Each EMI contains an interest component and a principal component. Early in a typical reducing-balance loan, interest forms a larger share; the principal share generally rises over time.
Rate changes can change EMI
For floating-rate loans, a benchmark or spread reset can affect the interest rate, EMI, tenure, or a combination, depending on lender terms and applicable rules.
Compare total repayment
A lower EMI from a longer tenure can mean more total interest. Compare monthly affordability alongside total interest and the full repayment amount.
Keep a payment buffer
Budget for essential household costs, existing debts and savings before choosing an EMI. Maintain an emergency reserve for income interruptions or unexpected expenses.
Illustration, not a quote
The result assumes the rate and repayment structure entered here. Confirm the lender’s rate type, reset frequency, fees, insurance and repayment terms before accepting an offer.
General educational information. Product terms and lender policy vary; confirm details with your lender.
Tenure Comparison
Based on a loan amount of — at —. Longer tenures reduce the monthly EMI but increase the total interest paid.
Comparison Table
| Tenure | Monthly EMI | Total Interest | Total Repayment | Δ EMI | Δ Interest |
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Monthly EMI by Tenure
Total Interest by Tenure
Choose a repayment period with the full cost in view
Shorter tenure
A shorter repayment period usually increases the monthly EMI but reduces the number of instalments and can lower total interest, assuming the same rate and principal.
Longer tenure
A longer period can reduce monthly pressure, but typically increases total interest. Ensure the EMI remains manageable through possible rate changes.
Test more than one scenario
Compare instalments against your take-home cash flow, existing obligations, planned expenses and savings goals—not only the lowest displayed EMI.
Prepayment strategy
When permitted and suitable, part-prepayments can reduce outstanding principal. Ask the lender whether they reduce tenure, EMI, or let you choose, and check applicable charges and conditions.
Review life-stage fit
Consider expected retirement, education costs, family commitments and income variability over the full loan period. Avoid relying on uncertain future income to make today’s EMI affordable.
General educational information. Product terms and lender policy vary; confirm details with your lender.
Outstanding Principal Over Time
Amortization Schedule
| Instalment | Opening Principal | EMI | Principal Repaid | Interest Paid | Closing Principal |
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Read your amortization schedule confidently
Opening and closing balance
The opening balance is the principal outstanding at the start of a period. Principal repaid reduces it; the closing balance becomes the next period’s opening balance.
Interest is calculated on balance
In a standard reducing-balance illustration, periodic interest is based on outstanding principal and the applicable periodic rate. Actual lender calculation conventions may differ.
Track principal progress
The principal portion of each instalment generally grows as the outstanding balance falls. The schedule helps show how quickly the debt is being reduced.
Use the schedule for planning
Review yearly principal, interest and closing balance to compare tenure choices and understand the effect of possible prepayments or rate changes.
Rounding and actual statements
Displayed figures may be rounded. The lender’s loan account statement and repayment schedule govern actual postings, due dates and final instalment adjustments.
General educational information. Product terms and lender policy vary; confirm details with your lender.
Home Loan: Complete Application Guide
Choose the purpose and loan route
First identify what you are financing.
Purchase
Ready-to-move house, resale property, or an under-construction unit. Confirm the property category and project approvals accepted by the lender.
Construction
For a plot you own, lenders generally ask for title papers, approved building plan, estimate and stage-wise construction details before sanction/disbursement.
Plot plus construction
Check whether the lender offers a composite facility, the permitted construction timeline, and conditions for release of the construction portion.
Extension / repair
For extension, renovation or major repairs, obtain the lender’s eligible-work list, estimate and approvals required for the proposed work.
Check eligibility and affordability
Applicant profile
- Age and repayment period within lender rules.
- Stable employment, pension, profession or business income.
- Credit history, repayment conduct and existing liabilities.
- Co-applicant income may be considered subject to relationship and policy.
- Property value, margin contribution and repayment capacity are assessed together.
Plan your own contribution
- Estimate down payment or margin from own funds.
- Budget stamp duty, registration, legal/technical fees, taxes and moving costs separately.
- Keep an emergency reserve after paying the contribution.
- Do not rely only on the maximum eligibility figure; assess comfortable monthly cash flow.
Document checklist
Prepare clear, current copies for every applicant/co-applicant. The branch may request additional papers for the case.
Common KYC
- PAN or Form 60, as applicable.
- Accepted identity and address proof (OVD) as per KYC rules.
- Photographs, application form and signature proof if required.
- Age, marital status and relationship documents where relevant.
- NRI applicants: passport, visa/work status and overseas/resident account papers as requested.
Salaried
- Recent salary slips, commonly 3 months.
- Form 16 or ITR, commonly 2 years where requested.
- Salary-credit bank statements, commonly 6 months.
- Employment proof, appointment/continuity details and employer contact if required.
- Details of existing loans, EMIs and other obligations.
Self-employed / Business
- ITR and computation, often 2–3 years as lender requires.
- Audited financial statements, balance sheet and profit & loss account, if applicable.
- Business existence, registration, GST and professional licences as applicable.
- Business and personal bank statements, typically 6–12 months as requested.
- Details of business liabilities, GST returns or cash-flow evidence where asked.
Property papers
- Agreement to sell/allotment letter and payment receipts.
- Title deed and prior chain/parent deeds as required.
- Approved building plan, permissions and completion/occupancy certificate where applicable.
- Encumbrance/search, tax/municipal receipts and society/builder NOC where applicable.
- Construction estimate, architect/engineer details and stage schedule for construction cases.
Application to sanction: step-by-step
- Enquiry and product selection
Compare lender offers, eligible purpose, rate type, tenure, margin, charges and service requirements.
- Application submission
Submit the signed form, applicant/co-applicant KYC, income evidence, property details and requested declarations. Obtain an acknowledgement/reference number.
- Credit assessment
The lender verifies income, employment/business, credit bureau information, existing obligations, repayment capacity and proposed loan structure.
- Legal and technical appraisal
Panel professionals may review title/ownership, chain documents, encumbrances, approvals, valuation, construction quality and property use.
- Clarifications and decision
Respond promptly to document queries. Sanction may be for a lower amount or subject to conditions; approval is not disbursement.
- Sanction letter and acceptance
Review amount, rate and benchmark/spread, reset terms, tenure, EMI, moratorium, fees, security, insurance requirements if any, conditions and validity before signing.
Understand the offer before accepting
Rate and total cost
- Fixed, floating or combination rate; identify benchmark, spread and reset frequency.
- Ask for the Key Facts Statement (KFS), APR/all-in cost and itemised fees.
- Check processing, legal, valuation, documentation, MOD/stamp, insurance and other applicable charges.
- Understand whether rate changes alter EMI, tenure or both and what options are available.
Questions to ask
- What is the effective rate and APR today?
- Which fees are payable, refundable or non-refundable?
- What are the prepayment/foreclosure terms for this exact loan type?
- What conditions must be completed before each disbursement?
- How and when will original title documents be returned after closure?
Before disbursement
- Complete margin/down-payment contribution and provide evidence.
- Execute loan agreement, home loan/security and required declarations.
- Complete property registration/sale deed steps as required by transaction and lender.
- Complete home loan creation, title-deed deposit, MODT/charge registration and insurance requirements where applicable.
- For under-construction or self-construction, submit demand letter, progress certificate, invoices and stage evidence as specified.
- Confirm beneficiary details and disbursement instructions; payment is commonly made to seller/builder or as per approved purpose and sanction.
After disbursement and during repayment
Manage the loan
- Track first EMI date, repayment account and auto-debit mandate.
- Review statements, principal outstanding, rate changes and remaining instalments.
- Maintain payment balance and contact the lender before a missed payment.
- Request an amortization statement and annual interest certificate when needed.
Rate reset and prepayment
- On floating-rate resets, review the revised rate, EMI/tenure effect and lender-provided options.
- Ask for part-payment allocation and whether it reduces EMI or tenure.
- Confirm applicable prepayment charges under current rules and your contract, especially fixed-rate or non-individual/business-purpose cases.
- Do not stop EMI until the lender confirms closure or revised mandate in writing.
Loan closure and document release
- Request a foreclosure/closure statement showing dues and validity date.
- Pay the confirmed amount through the lender’s approved channel and obtain receipt/no-dues or closure confirmation.
- Collect original property documents and verify the list against the bank’s acknowledgement.
- Obtain release of home loan/charge and confirm satisfaction/update with relevant registry or records, as applicable.
- Check credit bureau status after the lender reports closure.
Applicant’s ready-to-use checklist
Official references and further reading
Use these primary references for regulatory requirements; the lender’s current product policy, sanction letter and agreement apply to your case.