What is the EMI for a ₹30 lakh home loan for 15 years?
The EMI on a ₹30 lakh home loan for 15 years is about ₹29,542 a month at 8.5% interest, ₹28,670 at 8% and ₹30,428 at 9%. At 8.5% you pay about ₹23,17,594 in interest and ₹53,17,594 in total over 180 months. FixDoks's calculator on this page shows the full schedule and lets you change the rate.
30 Lakh Home Loan EMI, 15 Years at a glance
| Loan | ₹30,00,000 for 15 years (180 EMIs) |
|---|---|
| EMI at 8% / 8.5% / 9% | ₹28,670 / ₹29,542 / ₹30,428 |
| Total interest at 8.5% | ₹23,17,594 |
| Processing | In your browser; your files are not uploaded |
| Price | Free |
| Works on | Chrome, Edge, Safari and Firefox on Windows, Mac, Android and iPhone |
How to use ₹30 Lakh Home Loan EMI for 15 Years
- The calculator is already set to ₹30 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.
Where the loan-to-value limit changes
Up to ₹30 lakh a home loan can reach 90% of the property value, and above it the limit drops to 80% until ₹75 lakh. A ₹30 lakh loan is at the edge, so it matches a home near ₹33,33,000 and an own share of about ₹3,33,000, apart from duty and registration.
What an EMI of ₹29,542 asks of your pay
If half of take-home pay can go to the EMI, you need about ₹59,100 a month. At a 40% share the figure is about ₹73,900. Existing EMIs shrink what a lender allows.
Tax on year 1 interest
You pay ₹2,51,030 in interest and ₹1,03,476 in principal in the first year. The interest is ₹51,030 over the ₹2 lakh Section 24(b) cap, so the deduction on a self-occupied home is capped at ₹2 lakh, and it is available only in the old regime. Section 80C covers principal within ₹1.5 lakh.
A bonus used on the loan
An extra ₹1,50,000 at the end of year 3 at 8.5% saves about ₹2,46,533 of interest and trims about 13 months off the loan. Prepayment charges are not allowed on floating-rate home loans to individuals, so the full saving is yours.
If the rate goes to 9%
The EMI would be ₹30,428, which is ₹886 more per month and about ₹1,59,480 more over 180 months.
Start age for 15 years
As a rule of thumb, start by 45 if the lender ends loans at 60, and by 55 if it ends them at 70. The lender's own policy decides.
Balancing risk
Fifteen years saves a large amount of interest but leaves a thin margin if your income dips. Keep an emergency fund of at least six EMIs, and consider the 20-year plan if your job is not secure.
Checking your other commitments
Lenders add up every running EMI, card dues and your proposed home loan before deciding. Clear small loans first, since each rupee of existing EMI reduces the home loan the lender will approve.
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, checked October 2026.
₹30 lakh home loan EMI for 15 years at 8%, 8.5% and 9%
₹30,00,000 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% | ₹28,670 | ₹21,60,521 | ₹51,60,521 | 72% |
| 8.5% | ₹29,542 | ₹23,17,594 | ₹53,17,594 | 77% |
| 9% | ₹30,428 | ₹24,77,040 | ₹54,77,040 | 83% |
Going from 8% to 9% adds ₹3,16,518 of interest over 15 years on this loan.
Where your EMIs go: amortisation summary at 8.5%
In year 1 you pay ₹2,51,030 of interest and only ₹1,03,476 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 | ₹1,03,476 | ₹2,51,030 | ₹28,96,524 |
| Year 5 | ₹6,17,291 | ₹11,55,241 | ₹23,82,709 |
| Year 10 | ₹15,60,079 | ₹19,84,984 | ₹14,39,921 |
| Year 15 (end) | ₹30,00,000 | ₹23,17,594 | ₹0 |
Shorter or longer tenure?
- Over 10 years the EMI at 8.5% rises by ₹7,654 to ₹37,196, but total interest falls by ₹8,54,109 to ₹14,63,485.
- Over 20 years the EMI at 8.5% falls by ₹3,507 to ₹26,035, but total interest rises by ₹9,30,734 to ₹32,48,327.
Other ₹30 lakh home loan tenures
₹30 lakh for 10 years · ₹30 lakh for 20 years · ₹30 lakh for 25 years · ₹30 lakh for 30 years
Other loan amounts for 15 years
₹10 lakh for 15 years · ₹20 lakh for 15 years · ₹25 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.