EMI at different interest rates
| Interest rate (p.a.) | Monthly EMI | Total interest | Total payment |
|---|---|---|---|
| 7.5% | ₹12,084 | ₹14,00,135 | ₹29,00,135 |
| 8% | ₹12,547 | ₹15,11,184 | ₹30,11,184 |
| 8.5% | ₹13,017 | ₹16,24,164 | ₹31,24,164 |
| 9% | ₹13,496 | ₹17,39,013 | ₹32,39,013 |
| 9.5% | ₹13,982 | ₹18,55,672 | ₹33,55,672 |
| 10% | ₹14,475 | ₹19,74,078 | ₹34,74,078 |
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 | ₹18,598 | ₹7,31,742 |
| 15 years | ₹14,771 | ₹11,58,797 |
| 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 10 years · ₹15 Lakh for 15 years · ₹15 Lakh for 25 years · ₹15 Lakh for 30 years · ₹10 Lakh for 20 years · ₹20 Lakh for 20 years
Learn more: prepayment, tax benefits, total cost.
Frequently asked questions
What is the EMI for a ₹15 Lakh home loan for 20 years?
At an illustrative 8.5% p.a. the monthly EMI is about ₹13,017. Between 8% and 9.5% it ranges from about ₹12,547 to ₹13,982. Your actual EMI depends on the rate your lender offers.
How much interest will I pay on a ₹15 Lakh loan over 20 years?
At 8.5% p.a. the total interest is about ₹16,24,164, so you repay about ₹31,24,164 in all.
How can I reduce the interest on a ₹15 Lakh home loan?
Prepaying regularly helps. For example, paying an extra ₹1,500 every month from the first EMI would shorten this loan by about 4y 5m and save roughly ₹4,16,775 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.