EMI on a ₹20 lakh home loan for 10 years at 8.5% interest
EMI ₹24,797 per month for 10 years on ₹20,00,000 at 8.5% — total interest ₹9,75,657, total payment ₹29,75,657.
- Monthly EMI
- ₹24,797
- Total interest
- ₹9,75,657
- Total repayment
- ₹29,75,657
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 5 years | ₹41,033 | ₹4,61,984 | ₹24,61,984 |
| 10 years | ₹24,797 | ₹9,75,657 | ₹29,75,657 |
| 15 years | ₹19,695 | ₹15,45,062 | ₹35,45,062 |
| 20 years | ₹17,356 | ₹21,65,552 | ₹41,65,552 |
| 7.5% | ₹23,740 | ₹8,48,842 | ₹28,48,842 |
| 8% | ₹24,266 | ₹9,11,862 | ₹29,11,862 |
| 8.5% | ₹24,797 | ₹9,75,657 | ₹29,75,657 |
| 9% | ₹25,335 | ₹10,40,219 | ₹30,40,219 |
| 9.5% | ₹25,880 | ₹11,05,541 | ₹31,05,541 |
How this is calculated
EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where r is the monthly rate (annual ÷ 12 ÷ 100) and n is the number of months.
EMI कैलकुलेटर: किसी भी लोन की सही मासिक किस्त (EMI), कुल ब्याज और कुल भुगतान जानें — वही reducing-balance फ़ॉर्मूला जो हर भारतीय बैंक इस्तेमाल करता है।
Frequently asked
What is the EMI on a ₹20 lakh home loan for 10 years at 8.5%?
₹24,797 per month. Over 10 years you repay ₹29,75,657 in total, of which ₹9,75,657 is interest.
How much interest will I pay on ₹20 lakh at 8.5% over 10 years?
₹9,75,657 — roughly 49% of the amount borrowed.
How is EMI calculated in India?
Banks use the reducing-balance method: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1). P is the principal, r the monthly interest rate and n the number of monthly instalments. Early EMIs are mostly interest; later ones mostly principal.
Does a longer tenure reduce my EMI?
Yes, but total interest rises sharply. Doubling a home-loan tenure from 10 to 20 years typically cuts the EMI by around 30% while roughly doubling the interest paid.
Is prepayment worth it?
On floating-rate home loans RBI rules prohibit prepayment penalties for individuals, so a lump-sum prepayment early in the tenure saves the most interest. Ask Simpledot with your exact loan details for a prepayment schedule.
Figures are computed exactly from the stated inputs. Bank rates, processing fees, insurance and taxes vary — treat this as the arithmetic, not an offer. Last computed October 2026.