₹9,847 per month at 8.5% — with interest, rate comparison and full repayment schedule.
The EMI for a ₹10,00,000 (10 lakh) home loan at 8.5% interest for 15 years is ₹9,847 per month. Over 180 months you will pay ₹7,72,531 in interest — 77% of the loan amount.
Total amount payable
₹17,72,531
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 ₹10,00,000 at nearby rates:
| Interest rate | Monthly EMI | Total interest | Total payment |
|---|
| 7.00% | ₹8,988 | ₹6,17,891 | ₹16,17,891 |
| 7.50% | ₹9,270 | ₹6,68,622 | ₹16,68,622 |
| 8.00% | ₹9,557 | ₹7,20,174 | ₹17,20,174 |
| 8.25% | ₹9,701 | ₹7,46,253 | ₹17,46,253 |
| 8.50% | ₹9,847 | ₹7,72,531 | ₹17,72,531 |
| 8.75% | ₹9,994 | ₹7,99,008 | ₹17,99,008 |
| 9.00% | ₹10,143 | ₹8,25,680 | ₹18,25,680 |
| 9.50% | ₹10,442 | ₹8,79,604 | ₹18,79,604 |
| 10.00% | ₹10,746 | ₹9,34,289 | ₹19,34,289 |
| 10.50% | ₹11,054 | ₹9,89,718 | ₹19,89,718 |
Same loan, different tenures
A longer tenure lowers the EMI but increases the total interest:
| Tenure | Monthly EMI | Total interest |
|---|
| 10 years | ₹12,399 | ₹4,87,828 |
| 15 years | ₹9,847 | ₹7,72,531 |
| 20 years | ₹8,678 | ₹10,82,776 |
| 25 years | ₹8,052 | ₹14,15,681 |
| 30 years | ₹7,689 | ₹17,68,089 |
Year-wise repayment schedule
In the first year, ₹83,677 of your ₹1,18,169 in EMIs goes towards interest and only ₹34,492 reduces the principal.
| Year | Principal paid | Interest paid | Balance |
|---|
| 1 | ₹34,492 | ₹83,677 | ₹9,65,508 |
| 2 | ₹37,541 | ₹80,628 | ₹9,27,967 |
| 3 | ₹40,859 | ₹77,310 | ₹8,87,108 |
| 4 | ₹44,471 | ₹73,698 | ₹8,42,638 |
| 5 | ₹48,401 | ₹69,767 | ₹7,94,236 |
| 6 | ₹52,680 | ₹65,489 | ₹7,41,557 |
| 7 | ₹57,336 | ₹60,833 | ₹6,84,221 |
| 8 | ₹62,404 | ₹55,765 | ₹6,21,817 |
| 9 | ₹67,920 | ₹50,249 | ₹5,53,897 |
| 10 | ₹73,923 | ₹44,245 | ₹4,79,974 |
| 11 | ₹80,458 | ₹37,711 | ₹3,99,516 |
| 12 | ₹87,569 | ₹30,599 | ₹3,11,947 |
| 13 | ₹95,310 | ₹22,859 | ₹2,16,637 |
| 14 | ₹1,03,734 | ₹14,435 | ₹1,12,903 |
| 15 | ₹1,12,903 | ₹5,266 | ₹0 |
How much can you save by prepaying?
If you prepay just ₹50,000 (5% of the loan) after the first year and keep the same EMI, you save about ₹1,05,268 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 10 lakh home loan for 15 years?
At 8.5% interest, the EMI for a ₹10,00,000 home loan for 15 years is ₹9,847 per month. The total interest paid is ₹7,72,531.
What salary do I need for a 10 lakh home loan?
Banks usually allow EMIs of up to about 50% of your net monthly income. For an EMI of ₹9,847, you would typically need a take-home salary of at least ₹19,695 per month, with no other loans.
How can I reduce the EMI on a 10 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 ₹9,557.