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EMI on a ₹15 Lakh Home Loan: Monthly Payment by Rate
A ₹15 Lakh Home Loan at 9% for 20 years costs about ₹13,496 a month. See the full table of rates and tenures.
₹15 Lakh
Rates shown are examples. Check your bank's current rate.
Monthly EMI
₹13,017
- Principal: ₹15,00,000
- Total interest: ₹16,24,164
- Total payment: ₹31,24,164
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EMI on a ₹15 Lakh Home Loan by rate and tenure
On a ₹15 Lakh Home Loan at 9% for 20 years, the EMI is about ₹13,496 a month and the total interest ₹17,39,013. Over 15 years the EMI rises to ₹15,214, but you save ₹5,00,494 in interest.
| Rate | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs |
|---|---|---|---|---|---|
| 8% | ₹18,199 | ₹14,335 | ₹12,547 | ₹11,577 | ₹11,006 |
| 8.5% | ₹18,598 | ₹14,771 | ₹13,017 | ₹12,078 | ₹11,534 |
| 9% | ₹19,001 | ₹15,214 | ₹13,496 | ₹12,588 | ₹12,069 |
| 9.5% | ₹19,410 | ₹15,663 | ₹13,982 | ₹13,105 | ₹12,613 |
| 10% | ₹19,823 | ₹16,119 | ₹14,475 | ₹13,631 | ₹13,164 |
Monthly EMI on the reducing balance. Processing fees and insurance are not included.
Questions people ask
How is EMI calculated?+
EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan amount, r the monthly interest rate (annual rate ÷ 12 ÷ 100) and n the number of months.
How can I reduce my EMI or total interest?+
A longer tenure lowers EMI but increases total interest. A lower rate, bigger down payment or part-prepayments reduce total interest the most.
Is this EMI calculator accurate?+
It uses the standard reducing-balance formula used by Indian banks. Your bank's final EMI may differ slightly due to fees, rounding or the date of disbursement.