EMI on a ₹20 lakh home loan for 15 years at 9% interest
EMI ₹20,285 per month for 15 years on ₹20,00,000 at 9% — total interest ₹16,51,360, total payment ₹36,51,360.
- Monthly EMI
- ₹20,285
- Total interest
- ₹16,51,360
- Total repayment
- ₹36,51,360
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 10 years | ₹25,335 | ₹10,40,219 | ₹30,40,219 |
| 15 years | ₹20,285 | ₹16,51,360 | ₹36,51,360 |
| 20 years | ₹17,995 | ₹23,18,685 | ₹43,18,685 |
| 25 years | ₹16,784 | ₹30,35,178 | ₹50,35,178 |
| 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 |
| 10% | ₹21,492 | ₹18,68,578 | ₹38,68,578 |
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 9%?
₹20,285 per month. Over 15 years you repay ₹36,51,360 in total, of which ₹16,51,360 is interest.
How much interest will I pay on ₹20 lakh at 9% over 15 years?
₹16,51,360 — roughly 83% 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.