Home Loan EMI Table: Every Amount and Tenure at 8.5%

This page replaces fourteen separate pages that each printed one row of the table below. Everything is here: the EMI on any home loan from ₹5 lakh to ₹1 crore over 10 to 30 years, the total interest each one costs, the income it needs, and the formula that produces all of it.

The table: EMI by amount and tenure

Monthly EMI at 8.5% a year, rounded to the rupee.

What each of those loans costs in total

Total interest paid over the full term, at the same 8.5%. The number in brackets is the interest as a share of the amount borrowed — on a 30-year loan you repay more in interest than you borrowed.

The formula, written out

Every figure above comes from the standard annuity formula:

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

where P is the principal (the amount sanctioned, not the property price), r is the monthly rate — the annual rate divided by 12 and by 100, so 8.5% a year is 0.007083 a month — and n is the number of monthly instalments, the tenure in years × 12. Total paid is EMI × n; total interest is that minus P.

Worked example

A ₹30 lakh loan at 8.5% over 20 years, computed by this page:

r = 8.5 ÷ 12 ÷ 100 = 0.007083. n = 20 × 12 = 240. EMI = 3000000 × 0.007083 × (1.007083)²⁴⁰ ÷ ((1.007083)²⁴⁰ − 1) = ₹26,035 a month.

Over 240 instalments that is ₹62,48,327 repaid on ₹30 lakh borrowed — ₹32,48,327 of interest. The very first instalment is almost all interest: ₹21,250 of the ₹26,035 goes to the bank and only ₹4,785 to your principal. Paying one extra EMI every year closes the same loan in 201 months instead of 240 and saves ₹6,17,484 of interest.

How the rate changes the EMI

On a 20-year loan, each half-point of rate moves the EMI by roughly 3.5%. This is why the rate you negotiate matters more than the tenure you pick.

The income each EMI needs

Lenders in India size a home loan so that all EMIs together stay inside roughly 40–50% of net monthly income. At 40% — the figure worth planning to, not the maximum a bank will allow — a 20-year loan at 8.5% needs:

What prepayment does to each of them

One extra EMI a year, on a 20-year loan at 8.5%, with the bank asked to cut the tenure and not the EMI:

The mechanics — that a floating-rate loan to an individual cannot carry a prepayment penalty, and why tenure reduction is the only version worth asking for — are set out once in EMIs in India.

Assumptions behind every number here

A fixed 8.5% for the whole term, compounded monthly, with the first instalment one month after disbursal and no moratorium. Equal instalments throughout, which is how Indian retail loans are written. Rounding to the nearest rupee, so a long schedule can differ from a bank's statement by a rupee or two.

Excluded, because they are not part of the EMI: the processing fee (typically 0.5–1% of the loan), legal and valuation charges, documentation and franking, property insurance, and the stamp duty and registration your state charges on the sale deed. Also excluded is the gap between the property price and the loan — lenders fund a share of the agreement value, not the whole cost, and the rest is your down payment.

When this is the wrong tool

This table answers "what is the monthly payment" and nothing else. It is the wrong tool if:

Your rate is floating and you want to see it move. Every figure here assumes one rate for the whole term; a repo-rate change in year three changes the rest of the schedule. Use the EMI calculator for a specific rate and the prepayment calculator to re-run a part-paid loan.

You are working out what you can borrow rather than what a known amount costs — that runs from income and existing EMIs, in the home-loan eligibility calculator.

You are deciding whether to buy at all. An EMI is not a comparison with rent; that needs the rent-versus-buy arithmetic, including what your down payment would otherwise have earned.

It is not a home loan. Car, personal and education loans use the same formula at very different rates and much shorter tenures — the figures here do not transfer.

Tax relief on a home loan

Under the old tax regime a borrower can claim up to ₹2,00,000 a year of interest under Section 24(b) on a self-occupied property, and up to ₹1,50,000 of principal within the Section 80C limit. Neither is available for a self-occupied home under the new regime.

Where these figures come from. Both are the Income Tax Department's own, in its deduction list for AY 2026-27 (page updated 9 July 2026). The 8.5% rate used throughout this page is a representative lender rate, not a statutory one — it is set by your bank, and the rate table above exists so you can use the one you were actually quoted.

Frequently asked questions

What is the EMI on a ₹30 lakh home loan for 20 years?

About ₹26,035 a month at 8.5%, repaying ₹62,48,327 in total, of which ₹32,48,327 is interest.

Is a longer tenure cheaper?

Only monthly. A ₹50 lakh loan at 8.5% costs ₹43,391 a month over 20 years and ₹38,446 over 30 — but the 30-year version pays ₹34,26,564 more in interest. Borrow over the longest tenure you qualify for, then prepay as though it were shorter.

How much salary do I need for a ₹50 lakh home loan?

The 20-year EMI is ₹43,391, so about ₹1,08,478 net a month on the 40% rule, and more if you already carry other EMIs. Lenders will stretch to half your income; that leaves very little room for anything going wrong.

Why does my bank quote a different EMI?

Three usual reasons: a rate half a point away from the 8.5% used here, a tenure counted in months rather than whole years, or a first instalment that includes pre-EMI interest for a part month. Re-run your own rate in the rate table above.

Does the EMI change if the repo rate moves?

On a floating loan, yes — at the next reset. Most Indian lenders hold the EMI and extend the tenure instead, which quietly costs more. Check your amortisation schedule after any rate move, and ask for the original tenure back.

Run a specific amount, rate and tenure — with the full month-by-month schedule — in the free EMI calculator.

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