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EMI on a ₹20 Lakh Home Loan: Monthly Payment by Rate
A ₹20 Lakh Home Loan at 9% for 20 years costs about ₹17,995 a month. See the full table of rates and tenures.
₹20 Lakh
Rates shown are examples. Check your bank's current rate.
Monthly EMI
₹17,356
- Principal: ₹20,00,000
- Total interest: ₹21,65,552
- Total payment: ₹41,65,552
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EMI on a ₹20 Lakh Home Loan by rate and tenure
On a ₹20 Lakh Home Loan at 9% for 20 years, the EMI is about ₹17,995 a month and the total interest ₹23,18,685. Over 15 years the EMI rises to ₹20,285, but you save ₹6,67,325 in interest.
| Rate | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs |
|---|---|---|---|---|---|
| 8% | ₹24,266 | ₹19,113 | ₹16,729 | ₹15,436 | ₹14,675 |
| 8.5% | ₹24,797 | ₹19,695 | ₹17,356 | ₹16,105 | ₹15,378 |
| 9% | ₹25,335 | ₹20,285 | ₹17,995 | ₹16,784 | ₹16,092 |
| 9.5% | ₹25,880 | ₹20,884 | ₹18,643 | ₹17,474 | ₹16,817 |
| 10% | ₹26,430 | ₹21,492 | ₹19,300 | ₹18,174 | ₹17,551 |
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.