Home Loan EMI in India 2026: Rates, Calculation, and Banks Compared

Current Home Loan Interest Rates in India (2026)

Home loan rates in India are linked to the RBI repo rate. After rate cuts in 2025, floating rates have come down significantly from their 2023 peaks.

Bank

Rate for Salaried (CIBIL 750+)

Rate for Self-Employed

Processing Fee

|---|---|---|---|

SBI (State Bank of India)	8.25–8.75%	8.50–9.00%	0.35% + GST
HDFC Bank	8.35–8.85%	8.60–9.10%	0.5–1% + GST
ICICI Bank	8.40–8.90%	8.65–9.15%	0.5–2%
Kotak Mahindra	8.50–9.00%	8.75–9.25%	0.5% + GST
Axis Bank	8.55–9.00%	8.80–9.30%	1% + GST
LIC Housing Finance	8.50–9.00%	8.75–9.25%	0.25%
PNB Housing Finance	8.60–9.20%	8.90–9.50%	0.5% + GST
Bajaj Housing Finance	8.40–9.50%	8.70–10.00%	0.5%

Note: Rates vary based on CIBIL score, loan amount, tenure, property type, and income profile. Always get a personalised quote.

How Home Loan EMI Is Calculated

EMI = P × r × (1+r)^n / [(1+r)^n - 1]

Where P is the principal loan amount, r is the monthly interest rate (annual rate divided by 12 and then by 100), and n is the loan tenure in months.

Example: ₹50 lakh loan at 8.5% for 20 years:

• Monthly rate = 8.5 / 12 / 100 = 0.007083
• Tenure = 240 months
• EMI = ₹43,391/month

Total paid over 20 years = ₹43,391 × 240 = ₹1,04,13,840

Total interest = ₹1,04,13,840 - ₹50,00,000 = ₹54,13,840

This is why home loans are the most expensive debt most people ever take.

Home Loan EMI Table for ₹30, ₹50, ₹75 Lakh

At 8.5% annual interest:

Loan Amount

10 Years

15 Years

20 Years

25 Years

30 Years

|---|---|---|---|---|---|

₹30 lakh	₹37,188	₹29,529	₹26,035	₹24,130	₹23,074
₹50 lakh	₹61,980	₹49,215	₹43,391	₹40,217	₹38,456
₹75 lakh	₹92,970	₹73,822	₹65,087	₹60,325	₹57,685
₹1 crore	₹1,23,960	₹98,430	₹86,782	₹80,433	₹76,913

How CIBIL Score Affects Your Home Loan Rate

Banks offer better rates to borrowers with higher CIBIL scores. The difference can be 0.25-0.75% — which adds up significantly over a 20-year loan.

CIBIL Score

Rate Adjustment

On ₹50L Loan (20yr)

Extra Total Interest

|---|---|---|---|

800+	Best available rate	Baseline	—
750-799	+0.10-0.25%	+₹3,500-8,000/month EMI	+₹8-20 lakh total
700-749	+0.25-0.50%	+₹8,000-17,000/month	+₹20-40 lakh total
Below 700	Loan likely rejected	—	—

Choosing Between Fixed and Floating Rate

Floating rate: Your EMI changes when the bank adjusts its base rate following RBI decisions. Currently better because rates are expected to continue falling in 2026.

Fixed rate: EMI is locked for 2-5 years (banks rarely offer truly fixed rates for the full tenure). Protects against rate rises but you miss out when rates fall.

Current recommendation: Take a floating rate home loan linked to the external benchmark (repo rate). With the RBI in a rate-cutting cycle, floating rates are expected to decrease further in 2026.

Top 5 Things Banks Check for Home Loan Approval

Credit score (CIBIL 750+ strongly preferred). Income stability (2+ years in same job for salaried, 3+ years of ITR for self-employed). Debt-to-income ratio (existing EMIs + new EMI should not exceed 50% of gross income). Property value and legal clearance. Age (most banks require the loan to be paid off before age 70).

Using Lazyblink EMI Calculator for Home Loans

Open lazyblink.com/tools/calculators/emi-calculator. Enter loan amount, interest rate, and tenure. See EMI, total interest, and total payment. Adjust tenure to find the right EMI for your budget. The amortization table shows year-by-year principal vs interest breakdown.