₹18,598 per month at 8.5% — with interest, rate comparison and full repayment schedule.
The EMI for a ₹15,00,000 (15 lakh) home loan at 8.5% interest for 10 years is ₹18,598 per month. Over 120 months you will pay ₹7,31,742 in interest — 49% of the loan amount.
Total amount payable
₹22,31,742
Principal 67.2%Interest 32.8%
8.5% is a typical home loan rate used as an example. Your bank's rate depends on your credit score, income and lender.
EMI at different interest rates
Even a small change in the rate makes a big difference over 10 years. Here's the EMI on ₹15,00,000 at nearby rates:
| Interest rate | Monthly EMI | Total interest | Total payment |
|---|
| 7.00% | ₹17,416 | ₹5,89,953 | ₹20,89,953 |
| 7.50% | ₹17,805 | ₹6,36,632 | ₹21,36,632 |
| 8.00% | ₹18,199 | ₹6,83,897 | ₹21,83,897 |
| 8.25% | ₹18,398 | ₹7,07,747 | ₹22,07,747 |
| 8.50% | ₹18,598 | ₹7,31,742 | ₹22,31,742 |
| 8.75% | ₹18,799 | ₹7,55,882 | ₹22,55,882 |
| 9.00% | ₹19,001 | ₹7,80,164 | ₹22,80,164 |
| 9.50% | ₹19,410 | ₹8,29,156 | ₹23,29,156 |
| 10.00% | ₹19,823 | ₹8,78,713 | ₹23,78,713 |
| 10.50% | ₹20,240 | ₹9,28,830 | ₹24,28,830 |
Same loan, different tenures
A longer tenure lowers the EMI but increases the total interest:
| Tenure | Monthly EMI | Total interest |
|---|
| 10 years | ₹18,598 | ₹7,31,742 |
| 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 |
Year-wise repayment schedule
In the first year, ₹1,23,683 of your ₹2,23,174 in EMIs goes towards interest and only ₹99,491 reduces the principal.
| Year | Principal paid | Interest paid | Balance |
|---|
| 1 | ₹99,491 | ₹1,23,683 | ₹14,00,509 |
| 2 | ₹1,08,285 | ₹1,14,889 | ₹12,92,224 |
| 3 | ₹1,17,856 | ₹1,05,318 | ₹11,74,367 |
| 4 | ₹1,28,274 | ₹94,900 | ₹10,46,094 |
| 5 | ₹1,39,612 | ₹83,562 | ₹9,06,481 |
| 6 | ₹1,51,953 | ₹71,222 | ₹7,54,529 |
| 7 | ₹1,65,384 | ₹57,790 | ₹5,89,145 |
| 8 | ₹1,80,002 | ₹43,172 | ₹4,09,143 |
| 9 | ₹1,95,913 | ₹27,261 | ₹2,13,230 |
| 10 | ₹2,13,230 | ₹9,944 | ₹0 |
How much can you save by prepaying?
If you prepay just ₹75,000 (5% of the loan) after the first year and keep the same EMI, you save about ₹81,548 in interest and finish 8 months earlier. Try other amounts in the loan prepayment calculator.
Other loan amounts for 10 years
Frequently asked questions
What is the EMI for a 15 lakh home loan for 10 years?
At 8.5% interest, the EMI for a ₹15,00,000 home loan for 10 years is ₹18,598 per month. The total interest paid is ₹7,31,742.
What salary do I need for a 15 lakh home loan?
Banks usually allow EMIs of up to about 50% of your net monthly income. For an EMI of ₹18,598, you would typically need a take-home salary of at least ₹37,196 per month, with no other loans.
How can I reduce the EMI on a 15 lakh loan?
Choose a longer tenure, negotiate a lower interest rate, or make a larger down payment. For example, at 8.00% the EMI drops to ₹18,199.