EMI on a ₹20 lakh home loan for 15 years at 8.5% interest
EMI ₹19,695 per month for 15 years on ₹20,00,000 at 8.5% — total interest ₹15,45,062, total payment ₹35,45,062.
- Monthly EMI
- ₹19,695
- Total interest
- ₹15,45,062
- Total repayment
- ₹35,45,062
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 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 |
| 25 years | ₹16,105 | ₹28,31,363 | ₹48,31,363 |
| 7.5% | ₹18,540 | ₹13,37,244 | ₹33,37,244 |
| 8% | ₹19,113 | ₹14,40,348 | ₹34,40,348 |
| 8.5% | ₹19,695 | ₹15,45,062 | ₹35,45,062 |
| 9% | ₹20,285 | ₹16,51,360 | ₹36,51,360 |
| 9.5% | ₹20,884 | ₹17,59,209 | ₹37,59,209 |
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 15 years at 8.5%?
₹19,695 per month. Over 15 years you repay ₹35,45,062 in total, of which ₹15,45,062 is interest.
How much interest will I pay on ₹20 lakh at 8.5% over 15 years?
₹15,45,062 — roughly 77% 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.