Home loan EMI calculator
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A home loan is the longest and cheapest debt most people ever take, and the one where the structural details matter most: the term runs for decades, the rate is usually floating, prepayment is usually free, and the interest is usually deductible. Those four facts together make it the loan where prepaying early pays off most and where the decision to prepay is least obvious.
What this product looks like
| Typical rate | 7.5% – 11% |
|---|---|
| Typical term | 5–30 years |
| Maximum loan-to-value | 80% |
| Prepayment charge | None if floating; typical if fixed |
| Interest usually deductible | Usually |
A worked example
A $250,000 Home loan at a typical 8.75% over 20 years:
| Monthly instalment | $2,209 |
|---|---|
| Total interest | $280,225 |
| Total repaid | $530,225 |
| Income needed | $4,419 |
What to watch
The loan-to-value ceiling of 80% means you need at least 20% of the price as a deposit, before fees. And because the rate is usually floating, a rise typically extends your term rather than raising the instalment — so check your closing date after every rate change, not your bank statement.
Questions
What is the EMI on a $250,000 home loan?
At a typical 8.75% over 20 years, about $2,209 a month, with $280,225 of interest across the full term. Your own rate will differ; put it in the calculator.
How much deposit do I need for a home loan?
At least 20% of the price, since lenders cap the loan at 80% of the property's value — and stamp duty, registration and legal fees are rarely lendable, so budget for those separately.
Is prepaying a home loan free?
On a floating-rate home loan to an individual, prepayment charges are generally prohibited, so yes. On a fixed-rate one they usually apply. It is worth checking which you have before planning around it.
Rate bands and lending rules on this page were last reviewed on 2026-10-23 and are indicative, not offers. The arithmetic is produced by the same code the calculator runs. Confirm the terms with your own lender before committing; nothing here is financial advice.