EMI at different interest rates
| Interest rate (p.a.) | Monthly EMI | Total interest | Total payment |
|---|---|---|---|
| 7.5% | ₹17,805 | ₹6,36,632 | ₹21,36,632 |
| 8% | ₹18,199 | ₹6,83,897 | ₹21,83,897 |
| 8.5% | ₹18,598 | ₹7,31,742 | ₹22,31,742 |
| 9% | ₹19,001 | ₹7,80,164 | ₹22,80,164 |
| 9.5% | ₹19,410 | ₹8,29,156 | ₹23,29,156 |
| 10% | ₹19,823 | ₹8,78,713 | ₹23,78,713 |
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 |
|---|---|---|
| 15 years | ₹14,771 | ₹11,58,797 |
| 20 years | ₹13,017 | ₹16,24,164 |
| 25 years | ₹12,078 | ₹21,23,522 |
| 30 years | ₹11,534 | ₹26,52,133 |
A longer tenure lowers the EMI but raises the total interest. A shorter tenure does the opposite.
Related calculations
₹15 Lakh for 15 years · ₹15 Lakh for 20 years · ₹15 Lakh for 25 years · ₹15 Lakh for 30 years · ₹10 Lakh for 10 years · ₹20 Lakh for 10 years
Learn more: prepayment, tax benefits, total cost.
Frequently asked questions
What is the EMI for a ₹15 Lakh home loan for 10 years?
At an illustrative 8.5% p.a. the monthly EMI is about ₹18,598. Between 8% and 9.5% it ranges from about ₹18,199 to ₹19,410. Your actual EMI depends on the rate your lender offers.
How much interest will I pay on a ₹15 Lakh loan over 10 years?
At 8.5% p.a. the total interest is about ₹7,31,742, so you repay about ₹22,31,742 in all.
How can I reduce the interest on a ₹15 Lakh home loan?
Prepaying regularly helps. For example, paying an extra ₹2,000 every month from the first EMI would shorten this loan by about 1y 5m and save roughly ₹1,15,086 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.