Your monthly home loan EMI
An EMI (Equated Monthly Instalment) keeps your monthly payment fixed. Early on, most of it is interest; later, more goes to principal. The EMI combines the loan amount, the rate and the tenure. Most Indian home loans are on a floating rate linked to the repo rate, so real EMIs can shift.
Common questions
Principal and interest on a reducing-balance loan. It excludes processing fees, insurance and any change in a floating rate.
Most home loans in India are floating, linked to the RBI repo rate, so your EMI can change. This assumes a constant rate for the estimate.
Under the old regime, you can claim interest under Section 24(b) and principal under 80C. The new regime largely removes these for self-occupied homes.