When the repo rate moves, floating home loan rates follow. See whether your EMI or your tenure will change, and by how much.
Fill in the details and click Calculate to see your results.
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Floating-rate loans are linked to a benchmark such as the RBI repo rate. When it changes, your bank either changes the EMI or, more often, the remaining tenure.
This calculator shows both options and the extra (or saved) interest, so you can tell your bank which you prefer.
| Outstanding Balance | ₹2,500,000 |
| Years Left | 15 yrs |
| Current Rate | 8.5% |
| New Rate | 9.25% |
| Option 1: new EMI, same tenure | ₹25,730 (+₹1,111 a month) |
| Option 2: same EMI, new tenure | 16 yrs 7 mo (+1 yr 7 mo) |
| Current EMI | ₹24,618 |
| Change in total interest (option 1) | +₹2,00,037 |
| Change in total interest (option 2) | +₹4,63,798 |
16 yrs 7 mo (+1 yr 7 mo); ₹24,618.
Try this example →| Outstanding Balance | ₹4,000,000 |
| Years Left | 18 yrs |
| Current Rate | 9% |
| New Rate | 8.5% |
| Option 1: new EMI, same tenure | ₹36,218 (−₹1,239 a month) |
| Option 2: same EMI, new tenure | 16 yrs 9 mo (−1 yr 3 mo) |
| Current EMI | ₹37,458 |
| Change in total interest (option 1) | −₹2,67,731 |
| Change in total interest (option 2) | −₹5,96,220 |
16 yrs 9 mo (−1 yr 3 mo); ₹37,458.
Try this example →Usually the bank keeps the EMI and extends the tenure. RBI rules require lenders to inform you and let you choose a higher EMI, a longer tenure or a mix.
If the new rate makes the monthly interest larger than your EMI, the loan would never be repaid at that EMI, so the EMI has to go up.
Keep your EMI the same so the loan finishes sooner — that saves the most interest.