EMI on a ₹80 lakh Home Loan

A home loan of ₹80,00,000 at 8.5% for 20 years has an EMI of ₹69,426 a month. Over the full term you repay ₹1,66,62,206, of which ₹86,62,206 is interest.

EMI at 8.5% for 20 years
₹69,426

Total interest ₹86,62,206 · Total repaid ₹1,66,62,206

EMI by interest rate and tenure

Rate10 yrs15 yrs20 yrs25 yrs30 yrs
7.5%₹94,961₹74,161₹64,447₹59,119₹55,937
8%₹97,062₹76,452₹66,915₹61,745₹58,701
8.5%₹99,189₹78,779₹69,426₹64,418₹61,513
9%₹1,01,341₹81,141₹71,978₹67,136₹64,370
9.5%₹1,03,518₹83,538₹74,570₹69,896₹67,268
10%₹1,05,721₹85,968₹77,202₹72,696₹70,206

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 ₹8,33,110: ₹6,73,892 in interest and only ₹1,59,218 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 ₹69,426 EMI needs a take-home salary of about ₹1,38,852 a month at a 50% limit, or ₹1,73,565 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 ₹80 lakh loan needs a property worth at least ₹1,06,66,667 (75% loan-to-value), with a down payment of ₹26,66,667 plus stamp duty and registration.

Paying it off sooner

Adding ₹5,785 to every EMI (one extra EMI a year) clears the loan about 3 years 5 months early and saves about ₹17,42,988 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
₹70 lakh₹60,748₹75,79,430
₹75 lakh₹65,087₹81,20,818
₹80 lakh₹69,426₹86,62,206
₹90 lakh₹78,104₹97,44,982
₹1 crore₹86,782₹1,08,27,758

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 ₹80 lakh home loan?

₹69,426 a month at 8.5% for 20 years. At 8% it is ₹66,915, and over 30 years at 8.5% it is ₹61,513.

What salary do I need for a ₹80 lakh home loan?

Banks usually keep all your EMIs within 40–60% of take-home pay. At a 50% limit, a ₹69,426 EMI needs a take-home salary of about ₹1,38,852 a month with no other loans; at 40%, about ₹1,73,565.

How much interest will I pay on a ₹80 lakh home loan?

₹86,62,206 over 20 years at 8.5%, so you repay ₹1,66,62,206 in all. Paying one extra EMI a year cuts the interest by about ₹17,42,988.

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