₹29,542 per month at 8.5% — with interest, rate comparison and full repayment schedule.
The EMI for a ₹30,00,000 (30 lakh) home loan at 8.5% interest for 15 years is ₹29,542 per month. Over 180 months you will pay ₹23,17,594 in interest — 77% of the loan amount.
Total amount payable
₹53,17,594
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 ₹30,00,000 at nearby rates:
| Interest rate | Monthly EMI | Total interest | Total payment |
|---|
| 7.00% | ₹26,965 | ₹18,53,673 | ₹48,53,673 |
| 7.50% | ₹27,810 | ₹20,05,867 | ₹50,05,867 |
| 8.00% | ₹28,670 | ₹21,60,521 | ₹51,60,521 |
| 8.25% | ₹29,104 | ₹22,38,758 | ₹52,38,758 |
| 8.50% | ₹29,542 | ₹23,17,594 | ₹53,17,594 |
| 8.75% | ₹29,983 | ₹23,97,023 | ₹53,97,023 |
| 9.00% | ₹30,428 | ₹24,77,040 | ₹54,77,040 |
| 9.50% | ₹31,327 | ₹26,38,813 | ₹56,38,813 |
| 10.00% | ₹32,238 | ₹28,02,868 | ₹58,02,868 |
| 10.50% | ₹33,162 | ₹29,69,154 | ₹59,69,154 |
Same loan, different tenures
A longer tenure lowers the EMI but increases the total interest:
| Tenure | Monthly EMI | Total interest |
|---|
| 10 years | ₹37,196 | ₹14,63,485 |
| 15 years | ₹29,542 | ₹23,17,594 |
| 20 years | ₹26,035 | ₹32,48,327 |
| 25 years | ₹24,157 | ₹42,47,044 |
| 30 years | ₹23,067 | ₹53,04,266 |
Year-wise repayment schedule
In the first year, ₹2,51,030 of your ₹3,54,506 in EMIs goes towards interest and only ₹1,03,476 reduces the principal.
| Year | Principal paid | Interest paid | Balance |
|---|
| 1 | ₹1,03,476 | ₹2,51,030 | ₹28,96,524 |
| 2 | ₹1,12,622 | ₹2,41,884 | ₹27,83,902 |
| 3 | ₹1,22,577 | ₹2,31,929 | ₹26,61,325 |
| 4 | ₹1,33,412 | ₹2,21,095 | ₹25,27,913 |
| 5 | ₹1,45,204 | ₹2,09,302 | ₹23,82,709 |
| 6 | ₹1,58,039 | ₹1,96,468 | ₹22,24,671 |
| 7 | ₹1,72,008 | ₹1,82,498 | ₹20,52,663 |
| 8 | ₹1,87,212 | ₹1,67,294 | ₹18,65,451 |
| 9 | ₹2,03,760 | ₹1,50,747 | ₹16,61,691 |
| 10 | ₹2,21,770 | ₹1,32,736 | ₹14,39,921 |
| 11 | ₹2,41,373 | ₹1,13,134 | ₹11,98,548 |
| 12 | ₹2,62,708 | ₹91,798 | ₹9,35,841 |
| 13 | ₹2,85,929 | ₹68,577 | ₹6,49,912 |
| 14 | ₹3,11,202 | ₹43,304 | ₹3,38,710 |
| 15 | ₹3,38,710 | ₹15,797 | ₹0 |
How much can you save by prepaying?
If you prepay just ₹1,50,000 (5% of the loan) after the first year and keep the same EMI, you save about ₹3,15,805 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 30 lakh home loan for 15 years?
At 8.5% interest, the EMI for a ₹30,00,000 home loan for 15 years is ₹29,542 per month. The total interest paid is ₹23,17,594.
What salary do I need for a 30 lakh home loan?
Banks usually allow EMIs of up to about 50% of your net monthly income. For an EMI of ₹29,542, you would typically need a take-home salary of at least ₹59,084 per month, with no other loans.
How can I reduce the EMI on a 30 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 ₹28,670.