₹14,771 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 15 years is ₹14,771 per month. Over 180 months you will pay ₹11,58,797 in interest — 77% of the loan amount.
Total amount payable
₹26,58,797
Principal 56.4%Interest 43.6%
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 15 years. Here's the EMI on ₹15,00,000 at nearby rates:
| Interest rate | Monthly EMI | Total interest | Total payment |
|---|
| 7.00% | ₹13,482 | ₹9,26,836 | ₹24,26,836 |
| 7.50% | ₹13,905 | ₹10,02,933 | ₹25,02,933 |
| 8.00% | ₹14,335 | ₹10,80,261 | ₹25,80,261 |
| 8.25% | ₹14,552 | ₹11,19,379 | ₹26,19,379 |
| 8.50% | ₹14,771 | ₹11,58,797 | ₹26,58,797 |
| 8.75% | ₹14,992 | ₹11,98,511 | ₹26,98,511 |
| 9.00% | ₹15,214 | ₹12,38,520 | ₹27,38,520 |
| 9.50% | ₹15,663 | ₹13,19,407 | ₹28,19,407 |
| 10.00% | ₹16,119 | ₹14,01,434 | ₹29,01,434 |
| 10.50% | ₹16,581 | ₹14,84,577 | ₹29,84,577 |
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, ₹1,25,515 of your ₹1,77,253 in EMIs goes towards interest and only ₹51,738 reduces the principal.
| Year | Principal paid | Interest paid | Balance |
|---|
| 1 | ₹51,738 | ₹1,25,515 | ₹14,48,262 |
| 2 | ₹56,311 | ₹1,20,942 | ₹13,91,951 |
| 3 | ₹61,288 | ₹1,15,965 | ₹13,30,663 |
| 4 | ₹66,706 | ₹1,10,547 | ₹12,63,957 |
| 5 | ₹72,602 | ₹1,04,651 | ₹11,91,355 |
| 6 | ₹79,019 | ₹98,234 | ₹11,12,335 |
| 7 | ₹86,004 | ₹91,249 | ₹10,26,331 |
| 8 | ₹93,606 | ₹83,647 | ₹9,32,725 |
| 9 | ₹1,01,880 | ₹75,373 | ₹8,30,846 |
| 10 | ₹1,10,885 | ₹66,368 | ₹7,19,961 |
| 11 | ₹1,20,686 | ₹56,567 | ₹5,99,274 |
| 12 | ₹1,31,354 | ₹45,899 | ₹4,67,920 |
| 13 | ₹1,42,964 | ₹34,289 | ₹3,24,956 |
| 14 | ₹1,55,601 | ₹21,652 | ₹1,69,355 |
| 15 | ₹1,69,355 | ₹7,898 | ₹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 ₹1,57,903 in interest and finish 15 months earlier. Try other amounts in the loan prepayment calculator.
Other loan amounts for 15 years
Frequently asked questions
What is the EMI for a 15 lakh home loan for 15 years?
At 8.5% interest, the EMI for a ₹15,00,000 home loan for 15 years is ₹14,771 per month. The total interest paid is ₹11,58,797.
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 ₹14,771, you would typically need a take-home salary of at least ₹29,542 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 ₹14,335.