🏠 EMI for ₹10 Lakh Home Loan

🧮 Calculate your exact EMI

📊 EMI for ₹10 Lakh home loan by tenure and rate

Interest rates are typical November 2026 ranges for illustration; your rate depends on the lender, your credit score and income. Use the calculator above for your own rate.

💸 Total interest on ₹10 Lakh at 8%

📅 Year-by-year repayment (8%, 20 years)

In the early years most of each EMI goes to interest; in year 1 you repay only ₹21,137 of principal. Prepaying early saves the most interest.

⏩ Pay it off sooner

• Pay one extra EMI (₹8,364) each year: the loan closes in about 16.9 years instead of 20, saving about ₹1,82,058 in interest.
• Increase your EMI by 5% every year as your income grows to cut the tenure further.
• Floating-rate home loans to individuals have no prepayment penalty under RBI rules.

✅ Can you afford it?

• Banks usually keep all your EMIs under about 50% of your take-home pay, so this EMI needs a net monthly income of roughly ₹16,729 or more.
• Old tax regime: up to ₹2 lakh of interest a year is deductible under Section 24(b) for a self-occupied home, and principal counts towards the ₹1.5 lakh Section 80C limit. The new tax regime does not allow these for a self-occupied home.
• Banks lend up to 75–90% of the property value, so you also need a down payment plus stamp duty and registration.