Down Payment Calculator
Calculate down payment, loan amount, and EMI for property purchase
Monthly EMI
₹34,713
- Down payment
- 20.00%
- Down payment amount
- ₹10,00,000
- Loan amount
- ₹40,00,000
- Monthly EMI
- ₹34,713
- Total loan repayment
- ₹83,31,103
- Total interest
- ₹43,31,103
- Total cost of property
- ₹93,31,103
What this calculator does
Calculate the optimal down payment for property purchase, resulting loan amount, and monthly EMI. Understand the impact of down payment percentage on your loan burden.
How it is calculated
\text{Loan Amount} = \text{Property Value} - \text{Down Payment}EMI is then calculated on the loan amount using standard EMI formula
Worked example
Property worth ₹80 lakh, 20% down payment, loan at 8.5% for 20 years
Down payment = ₹16 lakh, Loan = ₹64 lakh
Monthly EMI: ₹55,541; Total payment: ₹1.49 crore (including down payment)
- Higher down payment reduces loan amount and total interest burden
- Banks typically require 10-20% down payment for home loans
- Higher down payment may help negotiate better interest rates
- Keep emergency fund aside before maximizing down payment
- Consider opportunity cost of locking money vs. investing elsewhere
Tax and compliance notes
- Down payment itself is not tax deductible
- Stamp duty and registration charges can be claimed u/s 80C (up to ₹1.5 lakh limit)
- Loan principal repayment eligible for deduction u/s 80C
- Interest paid on loan deductible u/s 24(b) up to ₹2 lakh
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