EMI at different interest rates
| Interest rate (p.a.) | Monthly EMI | Total interest | Total payment |
|---|---|---|---|
| 7.5% | ₹16,112 | ₹18,66,847 | ₹38,66,847 |
| 8% | ₹16,729 | ₹20,14,912 | ₹40,14,912 |
| 8.5% | ₹17,356 | ₹21,65,552 | ₹41,65,552 |
| 9% | ₹17,995 | ₹23,18,685 | ₹43,18,685 |
| 9.5% | ₹18,643 | ₹24,74,230 | ₹44,74,230 |
| 10% | ₹19,300 | ₹26,32,104 | ₹46,32,104 |
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 | ₹24,797 | ₹9,75,657 |
| 15 years | ₹19,695 | ₹15,45,062 |
| 25 years | ₹16,105 | ₹28,31,363 |
| 30 years | ₹15,378 | ₹35,36,177 |
A longer tenure lowers the EMI but raises the total interest. A shorter tenure does the opposite.
Related calculations
₹20 Lakh for 10 years · ₹20 Lakh for 15 years · ₹20 Lakh for 25 years · ₹20 Lakh for 30 years · ₹15 Lakh for 20 years · ₹25 Lakh for 20 years
Learn more: prepayment, tax benefits, total cost.
Frequently asked questions
What is the EMI for a ₹20 Lakh home loan for 20 years?
At an illustrative 8.5% p.a. the monthly EMI is about ₹17,356. Between 8% and 9.5% it ranges from about ₹16,729 to ₹18,643. Your actual EMI depends on the rate your lender offers.
How much interest will I pay on a ₹20 Lakh loan over 20 years?
At 8.5% p.a. the total interest is about ₹21,65,552, so you repay about ₹41,65,552 in all.
How can I reduce the interest on a ₹20 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 3y 6m and save roughly ₹4,48,233 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.