EMI on a ₹30 lakh Home Loan

A home loan of ₹30,00,000 at 8.5% for 20 years has an EMI of ₹26,035 a month. Over the full term you repay ₹62,48,327, of which ₹32,48,327 is interest.

EMI at 8.5% for 20 years
₹26,035

Total interest ₹32,48,327 · Total repaid ₹62,48,327

EMI by interest rate and tenure

Rate10 yrs15 yrs20 yrs25 yrs30 yrs
7.5%₹35,611₹27,810₹24,168₹22,170₹20,976
8%₹36,398₹28,670₹25,093₹23,154₹22,013
8.5%₹37,196₹29,542₹26,035₹24,157₹23,067
9%₹38,003₹30,428₹26,992₹25,176₹24,139
9.5%₹38,819₹31,327₹27,964₹26,211₹25,226
10%₹39,645₹32,238₹28,951₹27,261₹26,327

Home loan rates depend on the lender, your credit score and the RBI repo rate; most are floating, so the EMI or tenure changes when rates move.

Where your first year's EMIs go

In the first 12 months you pay ₹3,12,416: ₹2,52,709 in interest and only ₹59,707 towards the loan. The interest share falls every month as the balance comes down.

Salary you need

Banks keep all your EMIs, including this one, within a share of take-home pay (FOIR), usually 40–60%. With no other loans, a ₹26,035 EMI needs a take-home salary of about ₹52,069 a month at a 50% limit, or ₹65,087 at 40%. Any other EMIs you pay need extra take-home pay on top: ₹2 for every ₹1 of EMI at a 50% limit.

Down payment

RBI rules let banks lend at most 90% of the property value for loans up to ₹30 lakh, 80% up to ₹75 lakh and 75% above that. So a ₹30 lakh loan needs a property worth at least ₹33,33,334 (90% loan-to-value), with a down payment of ₹3,33,334 plus stamp duty and registration.

Paying it off sooner

Adding ₹2,170 to every EMI (one extra EMI a year) clears the loan about 3 years 5 months early and saves about ₹6,53,620 in interest. Banks can't charge a prepayment penalty on floating-rate home loans to individuals.

Nearby loan amounts

LoanEMI (8.5%, 20 yrs)Total interest
₹20 lakh₹17,356₹21,65,552
₹25 lakh₹21,696₹27,06,939
₹30 lakh₹26,035₹32,48,327
₹35 lakh₹30,374₹37,89,715
₹40 lakh₹34,713₹43,31,103

Try other rates in the EMI calculator

Also see: Home Loan Eligibility Calculator · Loan Prepayment Calculator · How much home loan on a ₹50,000 salary?

Questions

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

₹26,035 a month at 8.5% for 20 years. At 8% it is ₹25,093, and over 30 years at 8.5% it is ₹23,067.

What salary do I need for a ₹30 lakh home loan?

Banks usually keep all your EMIs within 40–60% of take-home pay. At a 50% limit, a ₹26,035 EMI needs a take-home salary of about ₹52,069 a month with no other loans; at 40%, about ₹65,087.

How much interest will I pay on a ₹30 lakh home loan?

₹32,48,327 over 20 years at 8.5%, so you repay ₹62,48,327 in all. Paying one extra EMI a year cuts the interest by about ₹6,53,620.

EMIs use the standard reducing-balance formula with monthly rests. Processing fees, insurance and rate changes are not included.