EMI on a ₹40 lakh home loan for 15 years at 9% interest
EMI ₹40,571 per month for 15 years on ₹40,00,000 at 9% — total interest ₹33,02,719, total payment ₹73,02,719.
- Monthly EMI
- ₹40,571
- Total interest
- ₹33,02,719
- Total repayment
- ₹73,02,719
| Tenure / rate | EMI | Total interest | Total paid |
|---|---|---|---|
| 10 years | ₹50,670 | ₹20,80,437 | ₹60,80,437 |
| 15 years | ₹40,571 | ₹33,02,719 | ₹73,02,719 |
| 20 years | ₹35,989 | ₹46,37,369 | ₹86,37,369 |
| 25 years | ₹33,568 | ₹60,70,356 | ₹1,00,70,356 |
| 8% | ₹38,226 | ₹28,80,695 | ₹68,80,695 |
| 8.5% | ₹39,390 | ₹30,90,125 | ₹70,90,125 |
| 9% | ₹40,571 | ₹33,02,719 | ₹73,02,719 |
| 9.5% | ₹41,769 | ₹35,18,418 | ₹75,18,418 |
| 10% | ₹42,984 | ₹37,37,157 | ₹77,37,157 |
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 ₹40 lakh home loan for 15 years at 9%?
₹40,571 per month. Over 15 years you repay ₹73,02,719 in total, of which ₹33,02,719 is interest.
How much interest will I pay on ₹40 lakh at 9% over 15 years?
₹33,02,719 — 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.