What is Home Loan?
A home loan is a long-tenure secured loan against a property. Because the tenure is large (often 15–30 years), even small changes in interest rate or down payment dramatically change your total interest outflow.
Formula
Same amortization formula as a regular EMI calculation:
EMI = P × r × (1 + r)^n / [(1 + r)^n − 1] P = property price − down payment r = monthly rate n = months
How to use this calculator
Enter the property price, the down payment you can put up, the bank's offered interest rate, and tenure. The calculator finances only the remaining amount. Try raising the down payment by 5–10% — total interest drops sharply.