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EMI on a ₹15 lakh home loan

What is the EMI on a ₹15 lakh home loan?
₹13,017 / month

At 8.5% for 20 years. You’d repay ₹31,24,164 in total — ₹16.24 L of it interest.

Open in the EMI calculator

EMI by rate and tenure

Rate10 yrs15 yrs20 yrs25 yrs30 yrs
7.5%₹17,805₹13,905₹12,084₹11,085₹10,488
8.0%₹18,199₹14,335₹12,547₹11,577₹11,006
8.5%₹18,598₹14,771₹13,017₹12,078₹11,534
9.0%₹19,001₹15,214₹13,496₹12,588₹12,069
9.5%₹19,410₹15,663₹13,982₹13,105₹12,613
10.0%₹19,823₹16,119₹14,475₹13,631₹13,164
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₹
₹15 lakh
 %
 yrs
Monthly EMI
₹13,017
for 20 years · you’ll repay ₹31,24,164 in total

What the loan really costs

Interest
₹16.24 L
108% of loan
Principal
₹15,00,000
Total interest
₹16,24,164
Total paid
₹31,24,164
In year one, 81% of every EMI goes to interest. Principal only overtakes interest in year 13 — that’s why early prepayments save so much.

Year by year

0₹50K₹1 L₹1.5 L₹2 L14710131620
PrincipalInterest

Full repayment schedule

20 years
YearPrincipalInterestBalance
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

Questions people ask

What is the EMI for a ₹15 lakh home loan for 30 years?
At 8.5%, about ₹11,534 a month. You’d pay ₹26.52 L in interest, compared with ₹16.24 L over 20 years.
What salary do I need for a ₹15 lakh home loan?
Banks usually let all your EMIs take up to about half your take-home pay. For a 20-year loan at 8.5% (EMI ₹13,017), that means a take-home salary of roughly ₹26,035 a month, with no other loans.
How much does a 0.5% lower rate save?
On ₹15 lakh over 20 years, 8% instead of 8.5% cuts the EMI by ₹471 a month and saves about ₹1.13 L in interest over the loan.
How much down payment do I need?
RBI lets banks lend up to 90% of a home’s value on loans up to ₹30 lakh, 80% on loans up to ₹75 lakh and 75% above that. So a ₹15 lakh loan needs a home worth at least ₹16.67 L or so, plus around 7% for stamp duty and registration.