Housing Loan Calculator
Compare private-bank reducing EMI with state-bank equal-capital installments, and budget the real upfront cost.
- Amount borrowedRs. 20,000,000
- Estimated upfront costs (~1.5%)Rs. 300,000
- Total bank interestRs. 43,205,900
💡 Budget ~1.5% of the loan for upfront costs (valuation, legal, insurance).
State bank equal-capital method saves significant total interest, but requires higher initial monthly installments. (Estimated interest difference: Rs. 13,080,900)
Net salary with 8% employee EPF, 12% employer EPF, 3% ETF and downloadable payslip.
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Questions
State banks like BOC and People's Bank split the principal into equal chunks and add interest on the declining balance. Your first payments are the largest and they shrink every month, total interest runs roughly 30% less than a reducing EMI at the same rate (about Rs. 30.1M vs Rs. 43.2M on Rs. 20M at 15% over 20 years). The trade-off: much higher early installments (about Rs. 333,000 vs Rs. 263,000 in month one), so it suits borrowers with strong early cash flow.
Banks don't finance valuation, legal fees, stamp duty on the mortgage bond and title insurance. Budgeting ~1.5% of the loan amount keeps the real cash you need in view before you sign.
They're close, but banks round installments and add fees (processing, early settlement). Treat this as your negotiation baseline, then confirm with the bank's own schedule.
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