Total payable₹6,44,817
- Loan₹5,00,000
- Interest₹1,44,817
ଋଣ ନେବା ଆଗରୁ ହିସାବ — ଏହା ବୁଦ୍ଧିମାନର କାମ।Doing the maths before you borrow — that’s the smart move.
A ₹5,00,000 loan costs about ₹10,747 a month.
Over 5 years you pay ₹1,44,817 in interest, ₹6,44,817 in all.
Year by year
| Year | Loan repaid | Interest | Still owed |
|---|---|---|---|
| 1 | ₹80,253 | ₹48,711 | ₹4,19,747 |
| 2 | ₹89,097 | ₹39,867 | ₹3,30,651 |
| 3 | ₹98,916 | ₹30,048 | ₹2,31,735 |
| 4 | ₹1,09,816 | ₹19,147 | ₹1,21,919 |
| 5 | ₹1,21,919 | ₹7,045 | ₹0 |
These figures are estimates from the numbers you enter. Returns are not promised, and tax is left out unless stated. This is education, not investment advice.
How this is worked out
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan, r the monthly rate and n the number of months. In the early years most of each EMI is interest; the year-by-year table shows when that turns.
Before you borrow
- Keep all EMIs together under about a third of your take-home pay.
- Ask for the processing fee and any prepayment charge in writing. Floating-rate home loans usually have no prepayment charge.
- A shorter period means a higher EMI but much less interest. Try it above.