EMI at different interest rates
| Interest rate (p.a.) | Monthly EMI | Total interest | Total payment |
|---|---|---|---|
| 7.5% | ₹8,056 | ₹9,33,424 | ₹19,33,424 |
| 8% | ₹8,364 | ₹10,07,456 | ₹20,07,456 |
| 8.5% | ₹8,678 | ₹10,82,776 | ₹20,82,776 |
| 9% | ₹8,997 | ₹11,59,342 | ₹21,59,342 |
| 9.5% | ₹9,321 | ₹12,37,115 | ₹22,37,115 |
| 10% | ₹9,650 | ₹13,16,052 | ₹23,16,052 |
Rates shown are illustrative, to show how much the rate matters. They are not offers from any lender.
Same loan, different tenures (at 8.5%)
| Tenure | Monthly EMI | Total interest |
|---|---|---|
| 10 years | ₹12,399 | ₹4,87,828 |
| 15 years | ₹9,847 | ₹7,72,531 |
| 25 years | ₹8,052 | ₹14,15,681 |
| 30 years | ₹7,689 | ₹17,68,089 |
A longer tenure lowers the EMI but raises the total interest. A shorter tenure does the opposite.
Related calculations
₹10 Lakh for 10 years · ₹10 Lakh for 15 years · ₹10 Lakh for 25 years · ₹10 Lakh for 30 years · ₹15 Lakh for 20 years
Learn more: prepayment, tax benefits, total cost.
Frequently asked questions
What is the EMI for a ₹10 Lakh home loan for 20 years?
At an illustrative 8.5% p.a. the monthly EMI is about ₹8,678. Between 8% and 9.5% it ranges from about ₹8,364 to ₹9,321. Your actual EMI depends on the rate your lender offers.
How much interest will I pay on a ₹10 Lakh loan over 20 years?
At 8.5% p.a. the total interest is about ₹10,82,776, so you repay about ₹20,82,776 in all.
How can I reduce the interest on a ₹10 Lakh home loan?
Prepaying regularly helps. For example, paying an extra ₹1,000 every month from the first EMI would shorten this loan by about 4y 5m and save roughly ₹2,77,850 in interest at 8.5%.
Is the rate on this page the rate I will get?
No. It is an illustrative figure so you can see the scale of the EMI. Enter the rate quoted by your lender in the calculator above.