₹13,017 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 20 years is ₹13,017 per month. Over 240 months you will pay ₹16,24,164 in interest — 108% of the loan amount.
Total amount payable
₹31,24,164
Principal 48.0%Interest 52.0%
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 20 years. Here's the EMI on ₹15,00,000 at nearby rates:
| Interest rate | Monthly EMI | Total interest | Total payment |
|---|
| 7.00% | ₹11,629 | ₹12,91,076 | ₹27,91,076 |
| 7.50% | ₹12,084 | ₹14,00,135 | ₹29,00,135 |
| 8.00% | ₹12,547 | ₹15,11,184 | ₹30,11,184 |
| 8.25% | ₹12,781 | ₹15,67,436 | ₹30,67,436 |
| 8.50% | ₹13,017 | ₹16,24,164 | ₹31,24,164 |
| 8.75% | ₹13,256 | ₹16,81,359 | ₹31,81,359 |
| 9.00% | ₹13,496 | ₹17,39,013 | ₹32,39,013 |
| 9.50% | ₹13,982 | ₹18,55,672 | ₹33,55,672 |
| 10.00% | ₹14,475 | ₹19,74,078 | ₹34,74,078 |
| 10.50% | ₹14,976 | ₹20,94,168 | ₹35,94,168 |
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, ₹1,26,355 of your ₹1,56,208 in EMIs goes towards interest and only ₹29,853 reduces the principal.
| Year | Principal paid | Interest paid | Balance |
|---|
| 1 | ₹29,853 | ₹1,26,355 | ₹14,70,147 |
| 2 | ₹32,492 | ₹1,23,716 | ₹14,37,654 |
| 3 | ₹35,364 | ₹1,20,844 | ₹14,02,290 |
| 4 | ₹38,490 | ₹1,17,718 | ₹13,63,800 |
| 5 | ₹41,892 | ₹1,14,316 | ₹13,21,908 |
| 6 | ₹45,595 | ₹1,10,613 | ₹12,76,313 |
| 7 | ₹49,625 | ₹1,06,583 | ₹12,26,687 |
| 8 | ₹54,012 | ₹1,02,196 | ₹11,72,675 |
| 9 | ₹58,786 | ₹97,422 | ₹11,13,889 |
| 10 | ₹63,982 | ₹92,226 | ₹10,49,907 |
| 11 | ₹69,638 | ₹86,571 | ₹9,80,270 |
| 12 | ₹75,793 | ₹80,415 | ₹9,04,477 |
| 13 | ₹82,492 | ₹73,716 | ₹8,21,985 |
| 14 | ₹89,784 | ₹66,424 | ₹7,32,201 |
| 15 | ₹97,720 | ₹58,488 | ₹6,34,481 |
| 16 | ₹1,06,357 | ₹49,851 | ₹5,28,124 |
| 17 | ₹1,15,758 | ₹40,450 | ₹4,12,365 |
| 18 | ₹1,25,990 | ₹30,218 | ₹2,86,375 |
| 19 | ₹1,37,127 | ₹19,081 | ₹1,49,248 |
| 20 | ₹1,49,248 | ₹6,961 | ₹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 ₹2,67,416 in interest and finish 26 months earlier. Try other amounts in the loan prepayment calculator.
Other loan amounts for 20 years
Frequently asked questions
What is the EMI for a 15 lakh home loan for 20 years?
At 8.5% interest, the EMI for a ₹15,00,000 home loan for 20 years is ₹13,017 per month. The total interest paid is ₹16,24,164.
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 ₹13,017, you would typically need a take-home salary of at least ₹26,035 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 ₹12,547.