What is the EMI for a ₹10 lakh home loan for 15 years?
The EMI on a ₹10 lakh home loan for 15 years is about ₹9,847 a month at 8.5% interest, ₹9,557 at 8% and ₹10,143 at 9%. At 8.5% you pay about ₹7,72,531 in interest and ₹17,72,531 in total over 180 months. FixDoks's calculator on this page shows the full schedule and lets you change the rate.
10 Lakh Home Loan EMI, 15 Years at a glance
| Loan | ₹10,00,000 for 15 years (180 EMIs) |
|---|---|
| EMI at 8% / 8.5% / 9% | ₹9,557 / ₹9,847 / ₹10,143 |
| Total interest at 8.5% | ₹7,72,531 |
| Processing | In your browser; your files are not uploaded |
| Price | Free |
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How to use ₹10 Lakh Home Loan EMI for 15 Years
- The calculator is already set to ₹10 lakh for 15 years at 8.5%.
- Change the interest rate to the rate in your offer letter. The EMI and schedule update as you type.
- Add an extra monthly payment to see how much sooner the loan closes and how much interest you save.
- Open the amortisation schedule for every year or month, or download it as CSV.
How much of the flat price you fund yourself
Under RBI's loan-to-value limits, a home loan up to ₹30 lakh can cover 90% of the property value. A ₹10 lakh loan therefore pairs with a property of about ₹11,11,000, leaving you to put in about ₹1,11,000 plus registration and stamp costs.
The 15-year EMI against your salary
An EMI of ₹9,847 is manageable when take-home pay is about ₹19,700 if you allow half of it for the loan, or about ₹24,600 if the lender wants the EMI at 40% of take-home. Most lenders apply their own rules, so use these as a planning range and not as an approval promise.
First-year tax view
In year 1 the interest component is ₹83,677 and the principal part is ₹34,492. Interest stays under the ₹2 lakh cap of Section 24(b), so a self-occupied owner in the old regime can claim it fully. The principal belongs under Section 80C with its ₹1.5 lakh ceiling. The new regime allows neither.
Where a part-payment helps most
Paying an extra ₹50,000 at the end of year 3 at 8.5% saves about ₹82,178 of interest and shortens the loan by about 13 months. Since RBI bars prepayment charges on floating-rate home loans to individuals, the saving is not eaten by a penalty.
Rate rise of 0.5% over 15 years
If the rate moves from 8.5% to 9%, the EMI climbs by ₹296 to ₹10,143, or about ₹53,280 over 180 months. Keep a cushion for that in your monthly budget.
PMAY check for this loan size
A ₹10 lakh loan is under the ₹25 lakh ceiling of PMAY-Urban 2.0. Other tests apply: home value up to ₹35 lakh and household income up to ₹9 lakh. If all are met, the 4% subsidy on the first ₹8 lakh can lower your effective interest, to a maximum benefit of ₹1.8 lakh.
Shorter than 20 years, longer than 10
A 15-year term is the middle path for a ₹10 lakh loan. It asks for more each month than a 20-year plan, yet it cuts the interest bill sharply. Work out which of your other goals, such as an emergency fund, would be squeezed by the higher EMI before choosing it.
Sources: RBI circular on housing loan LTV ratios · RBI directions on pre-payment charges on loans · Income Tax Department FAQs on old and new tax regimes · Government of India note on PMAY-Urban 2.0, checked October 2026.
₹10 lakh home loan EMI for 15 years at 8%, 8.5% and 9%
₹10,00,000 over 180 monthly instalments, reducing-balance method, EMIs rounded to the rupee.
| Interest rate | Monthly EMI | Total interest | Total payment | Interest as % of loan |
|---|---|---|---|---|
| 8% | ₹9,557 | ₹7,20,174 | ₹17,20,174 | 72% |
| 8.5% | ₹9,847 | ₹7,72,531 | ₹17,72,531 | 77% |
| 9% | ₹10,143 | ₹8,25,680 | ₹18,25,680 | 83% |
Going from 8% to 9% adds ₹1,05,506 of interest over 15 years on this loan.
Where your EMIs go: amortisation summary at 8.5%
In year 1 you pay ₹83,677 of interest and only ₹34,492 of principal. The balance falls below half of the loan only in year 10, because early EMIs are mostly interest. The live calculator above shows every month and year in full.
| After | Principal repaid so far | Interest paid so far | Balance still owed |
|---|---|---|---|
| Year 1 | ₹34,492 | ₹83,677 | ₹9,65,508 |
| Year 5 | ₹2,05,764 | ₹3,85,080 | ₹7,94,236 |
| Year 10 | ₹5,20,026 | ₹6,61,661 | ₹4,79,974 |
| Year 15 (end) | ₹10,00,000 | ₹7,72,531 | ₹0 |
Shorter or longer tenure?
- Over 10 years the EMI at 8.5% rises by ₹2,551 to ₹12,399, but total interest falls by ₹2,84,703 to ₹4,87,828.
- Over 20 years the EMI at 8.5% falls by ₹1,169 to ₹8,678, but total interest rises by ₹3,10,245 to ₹10,82,776.
Other ₹10 lakh home loan tenures
₹10 lakh for 10 years · ₹10 lakh for 20 years · ₹10 lakh for 25 years · ₹10 lakh for 30 years
Other loan amounts for 15 years
₹20 lakh for 15 years · ₹25 lakh for 15 years · ₹30 lakh for 15 years · ₹40 lakh for 15 years · ₹50 lakh for 15 years · ₹75 lakh for 15 years · ₹1 crore for 15 years
For any other amount, rate or tenure, use the EMI calculator.
Results are estimates for planning. Your employer, bank, fund or the tax department may round differently or apply other rules, so check the final figure with them.