EMI on a ₹35 lakh Home Loan

A home loan of ₹35,00,000 at 8.5% for 20 years has an EMI of ₹30,374 a month. Over the full term you repay ₹72,89,715, of which ₹37,89,715 is interest.

EMI at 8.5% for 20 years
₹30,374

Total interest ₹37,89,715 · Total repaid ₹72,89,715

EMI by interest rate and tenure

Rate10 yrs15 yrs20 yrs25 yrs30 yrs
7.5%₹41,546₹32,445₹28,196₹25,865₹24,473
8%₹42,465₹33,448₹29,275₹27,014₹25,682
8.5%₹43,395₹34,466₹30,374₹28,183₹26,912
9%₹44,337₹35,499₹31,490₹29,372₹28,162
9.5%₹45,289₹36,548₹32,625₹30,579₹29,430
10%₹46,253₹37,611₹33,776₹31,805₹30,715

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 ₹3,64,486: ₹2,94,828 in interest and only ₹69,658 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 ₹30,374 EMI needs a take-home salary of about ₹60,748 a month at a 50% limit, or ₹75,935 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 ₹35 lakh loan needs a property worth at least ₹43,75,000 (80% loan-to-value), with a down payment of ₹8,75,000 plus stamp duty and registration.

Paying it off sooner

Adding ₹2,531 to every EMI (one extra EMI a year) clears the loan about 3 years 5 months early and saves about ₹7,62,557 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
₹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
₹45 lakh₹39,052₹48,72,491

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 ₹35 lakh home loan?

₹30,374 a month at 8.5% for 20 years. At 8% it is ₹29,275, and over 30 years at 8.5% it is ₹26,912.

What salary do I need for a ₹35 lakh home loan?

Banks usually keep all your EMIs within 40–60% of take-home pay. At a 50% limit, a ₹30,374 EMI needs a take-home salary of about ₹60,748 a month with no other loans; at 40%, about ₹75,935.

How much interest will I pay on a ₹35 lakh home loan?

₹37,89,715 over 20 years at 8.5%, so you repay ₹72,89,715 in all. Paying one extra EMI a year cuts the interest by about ₹7,62,557.

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