10 lakh home loan EMI for 20 years
At 8.5% a year, the EMI on a ₹10,00,000 home loan over 20 years (240 months) is ₹8,678. Below: the EMI at every rate from 7.5% to 12%, the total interest, the yearly schedule, the salary lenders look for and what a prepayment saves.
EMI on ₹10 lakh for 20 years at different interest rates
| Rate | Monthly EMI | Total interest | Total payment |
|---|---|---|---|
| 7.5% | ₹8,056 | ₹9,33,424 | ₹19,33,424 |
| 8% | ₹8,364 | ₹10,07,456 | ₹20,07,456 |
| 8.5% | ₹8,678 | ₹10,82,776 | ₹20,82,776 |
| 9% | ₹8,997 | ₹11,59,342 | ₹21,59,342 |
| 9.5% | ₹9,321 | ₹12,37,115 | ₹22,37,115 |
| 10% | ₹9,650 | ₹13,16,052 | ₹23,16,052 |
| 10.5% | ₹9,984 | ₹13,96,112 | ₹23,96,112 |
| 11% | ₹10,322 | ₹14,77,252 | ₹24,77,252 |
| 11.5% | ₹10,664 | ₹15,59,431 | ₹25,59,431 |
| 12% | ₹11,011 | ₹16,42,607 | ₹26,42,607 |
Each 0.5% on the rate moves this EMI by about ₹319 a month. Between 7.5% and 12% the gap is ₹2,955 a month, or ₹7,09,183 of extra interest over 20 years, which is why a better credit score or a balance transfer to a lower rate is worth chasing.
Most Indian home loans are floating-rate and linked to an external benchmark such as the RBI repo rate, so the rate can change during the loan. When it does, banks usually keep the EMI and change the tenure; use the table above to see the effect of a rate change.
Year-by-year repayment at 8.5%
In year 1 you pay ₹84,236 of interest and only ₹19,902 of principal: early EMIs mostly cover interest because it is charged on the outstanding balance. Half the loan is repaid by the end of year 14.
| Year | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| 1 | ₹19,902 | ₹84,236 | ₹9,80,098 |
| 2 | ₹21,661 | ₹82,477 | ₹9,58,436 |
| 3 | ₹23,576 | ₹80,563 | ₹9,34,860 |
| 4 | ₹25,660 | ₹78,479 | ₹9,09,200 |
| 5 | ₹27,928 | ₹76,211 | ₹8,81,272 |
| 6 | ₹30,397 | ₹73,742 | ₹8,50,875 |
| 7 | ₹33,084 | ₹71,055 | ₹8,17,791 |
| 8 | ₹36,008 | ₹68,131 | ₹7,81,784 |
| 9 | ₹39,191 | ₹64,948 | ₹7,42,593 |
| 10 | ₹42,655 | ₹61,484 | ₹6,99,938 |
| 11 | ₹46,425 | ₹57,714 | ₹6,53,513 |
| 12 | ₹50,529 | ₹53,610 | ₹6,02,985 |
| 13 | ₹54,995 | ₹49,144 | ₹5,47,990 |
| 14 | ₹59,856 | ₹44,283 | ₹4,88,134 |
| 15 | ₹65,147 | ₹38,992 | ₹4,22,987 |
| 16 | ₹70,905 | ₹33,234 | ₹3,52,082 |
| 17 | ₹77,172 | ₹26,966 | ₹2,74,910 |
| 18 | ₹83,994 | ₹20,145 | ₹1,90,916 |
| 19 | ₹91,418 | ₹12,721 | ₹99,498 |
| 20 | ₹99,498 | ₹4,640 | ₹0 |
Salary needed for a ₹10 lakh home loan for 20 years
Lenders check your FOIR (fixed obligations to income ratio): all your EMIs, including this one, as a share of your net monthly income. A common rule of thumb is a ceiling of about 40% to 50%; the exact limit depends on the lender, your income level and credit score.
| Take-home pay at 50% FOIR | ₹17,356 a month |
|---|---|
| Take-home pay at 40% FOIR | ₹21,696 a month |
These assume no other EMIs at 8.5%. An existing car or personal loan EMI adds to the total, so it raises the income you need by about twice that EMI at 50% FOIR. A co-applicant’s income can be added on joint loans.
What a ₹1,00,000 prepayment does
Say you prepay ₹1,00,000 (10% of the loan) once, straight after the 12th EMI, and keep paying the same ₹8,678 EMI. The extra money goes entirely to principal, so every later EMI carries less interest.
| Interest saved | ₹3,20,738 |
|---|---|
| Loan ends | 4 years early (192 EMIs instead of 240) |
| Total interest | ₹7,62,038 instead of ₹10,82,776 |
RBI rules do not allow prepayment or foreclosure charges on floating-rate loans taken by individuals for non-business purposes. Fixed-rate loans, including most personal loans, can carry a prepayment fee, so check your loan agreement first.
₹10 lakh at 8.5%: shorter or longer tenure
| Tenure | Monthly EMI | Total interest |
|---|---|---|
| 5 years | ₹20,517 | ₹2,30,992 |
| 10 years | ₹12,399 | ₹4,87,828 |
| 15 years | ₹9,847 | ₹7,72,531 |
| 20 years | ₹8,678 | ₹10,82,776 |
| 25 years | ₹8,052 | ₹14,15,681 |
| 30 years | ₹7,689 | ₹17,68,089 |
A longer tenure lowers the EMI but raises the total interest. Pick the shortest tenure whose EMI fits comfortably, then prepay when you can.
Other loan amounts and tenures
20-year loans
₹10 lakh for other tenures
All EMI tables · EMI calculator with these numbers · SIP calculator
Questions people ask
What is the EMI for a ₹10 lakh home loan for 20 years?
At 8.5% a year, the EMI on ₹10,00,000 for 20 years (240 monthly instalments) is ₹8,678. At 7.5% it is ₹8,056 and at 12% it is ₹11,011, so every 0.5% on the rate changes the EMI by about ₹319 a month.
How much interest will I pay on a ₹10 lakh loan over 20 years?
At 8.5% you repay ₹20,82,776 in total: ₹10,00,000 of principal and ₹10,82,776 of interest, which is 108% of the amount borrowed. A one-time prepayment of ₹1,00,000 after the first year, with the EMI unchanged, cuts the interest by about ₹3,20,738 and ends the loan 4 years early.
What salary do I need for a ₹10 lakh home loan for 20 years?
As a rule of thumb, lenders keep all your EMIs together within about 40% to 50% of your net monthly income (the FOIR limit; it varies by lender, income and credit score). With no other loans, the ₹8,678 EMI at 8.5% needs a take-home pay of roughly ₹17,356 at 50%, or ₹21,696 at a stricter 40%.