₹10 lakh Home Loan EMI for 15 Years
A ₹10 lakh home loan repaid over 15 years at 9% interest gives you a monthly EMI of roughly ₹10,143. Over the full tenure you'll pay back significantly more than the principal — the interest component alone is about ₹8.3 lakh. This is the cost of financing; use this page to size your down-payment, tenure and loan amount before committing.
Rate Comparison for ₹10 lakh / 15 Years
| Rate | Monthly EMI | Total Interest | Total Payment |
|---|---|---|---|
| 6% | ₹8,439 | ₹5,18,942 | ₹15,18,942 |
| 9% | ₹10,143 | ₹8,25,680 | ₹18,25,680 |
| 12% | ₹12,002 | ₹11,60,303 | ₹21,60,303 |
About This Scenario
A ₹10 lakh home loan repaid over 15 years at 9% interest gives you a monthly EMI of roughly ₹10,143. Over the full tenure you'll pay back significantly more than the principal — the interest component alone is about ₹8.3 lakh. This is the cost of financing; use this page to size your down-payment, tenure and loan amount before committing.
Frequently Asked Questions
What is the EMI for a ₹10 lakh home loan over 15 years?
At 9% interest, monthly EMI is ₹10,143. Total payment over 15 years is ₹18,25,680, of which ₹8,25,680 is interest.
Can I prepay a home loan without penalty?
For floating-rate home loans in India, RBI rules mandate zero prepayment penalty for individual borrowers. Fixed-rate loans may carry penalties of 2–4%.
Does the EMI change with interest rate changes?
On floating-rate loans, either the EMI or the tenure adjusts when the benchmark rate changes. Most banks default to keeping EMI constant and adjusting tenure; you can request the reverse.
What tax benefits apply to a home loan?
Under the old tax regime: Section 80C allows up to ₹1.5L deduction on principal; Section 24(b) allows up to ₹2L on interest for a self-occupied property. New tax regime: only let-out property interest is deductible.