Quick answer
The EMI on a ₹40 Lakh home loan at 8.5% is ₹34,713 for 20 years, ₹39,390 for 15 years, or ₹30,757 for 30 years. Over 20 years you pay ₹43,31,103 in interest. Paying one extra EMI a year would save about ₹8,71,494.
Key takeaways
- Home loan rates in India track the RBI repo rate for most new floating-rate loans.
- In the first few years, most of your EMI goes to interest. Early prepayments save the most.
- Old regime: deduct up to ₹2 lakh interest (Sec 24b) and ₹1.5 lakh principal (Sec 80C). The new regime gives neither for a self-occupied home.
₹40 Lakh home loan EMI table
| Rate | 5 yrs | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs |
|---|---|---|---|---|---|---|
| 7.5% | ₹80,152 | ₹47,481 | ₹37,080 | ₹32,224 | ₹29,560 | ₹27,969 |
| 8% | ₹81,106 | ₹48,531 | ₹38,226 | ₹33,458 | ₹30,873 | ₹29,351 |
| 8.5% | ₹82,066 | ₹49,594 | ₹39,390 | ₹34,713 | ₹32,209 | ₹30,757 |
| 9% | ₹83,033 | ₹50,670 | ₹40,571 | ₹35,989 | ₹33,568 | ₹32,185 |
| 9.5% | ₹84,007 | ₹51,759 | ₹41,769 | ₹37,285 | ₹34,948 | ₹33,634 |
| 10% | ₹84,988 | ₹52,860 | ₹42,984 | ₹38,601 | ₹36,348 | ₹35,103 |
Total interest you will pay
| Rate | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs |
|---|---|---|---|---|---|
| 8% | ₹18.24 L | ₹28.81 L | ₹40.3 L | ₹52.62 L | ₹65.66 L |
| 8.5% | ₹19.51 L | ₹30.9 L | ₹43.31 L | ₹56.63 L | ₹70.72 L |
| 9% | ₹20.8 L | ₹33.03 L | ₹46.37 L | ₹60.7 L | ₹75.87 L |
Other loan amounts
₹10 Lakh · ₹15 Lakh · ₹20 Lakh · ₹25 Lakh · ₹30 Lakh · ₹50 Lakh · ₹60 Lakh · ₹75 Lakh · ₹1 Crore
Home loan EMI formula
EMI = P × r × (1 + r)n ÷ [(1 + r)n − 1]- P = loan amount
- r = monthly interest rate = annual rate ÷ 12 ÷ 100
- n = tenure in months
Home loan EMI table (2026)
| Loan amount | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs |
|---|---|---|---|---|---|
| ₹10 L | ₹12,399 | ₹9,847 | ₹8,678 | ₹8,052 | ₹7,689 |
| ₹20 L | ₹24,797 | ₹19,695 | ₹17,356 | ₹16,105 | ₹15,378 |
| ₹25 L | ₹30,996 | ₹24,618 | ₹21,696 | ₹20,131 | ₹19,223 |
| ₹30 L | ₹37,196 | ₹29,542 | ₹26,035 | ₹24,157 | ₹23,067 |
| ₹40 L | ₹49,594 | ₹39,390 | ₹34,713 | ₹32,209 | ₹30,757 |
| ₹50 L | ₹61,993 | ₹49,237 | ₹43,391 | ₹40,261 | ₹38,446 |
| ₹60 L | ₹74,391 | ₹59,084 | ₹52,069 | ₹48,314 | ₹46,135 |
| ₹75 L | ₹92,989 | ₹73,855 | ₹65,087 | ₹60,392 | ₹57,669 |
| ₹1 Cr | ₹1,23,986 | ₹98,474 | ₹86,782 | ₹80,523 | ₹76,891 |
Click a loan amount for its EMI at different rates and tenures.
How to lower your home loan cost
- Keep a credit score of 750+: lenders price loans by risk.
- Make a bigger down payment: a loan-to-value ratio under 80% often gets a better rate.
- Prepay early: even one extra EMI a year can cut a 20-year loan by about 3–4 years. Calculate your savings.
- Review your rate yearly: if your spread is higher than new-customer offers, ask your bank to reprice or switch lenders.
Frequently asked questions
What is the EMI for a ₹40 Lakh home loan for 10 years?
At 8.5% a year, the EMI is ₹49,594 and total interest is ₹19,51,313. At 8% it is ₹48,531; at 9%, ₹50,670.
What is the EMI for a ₹40 Lakh home loan for 15 years?
At 8.5% a year, the EMI is ₹39,390 and total interest is ₹30,90,125. At 8% it is ₹38,226; at 9%, ₹40,571.
What is the EMI for a ₹40 Lakh home loan for 20 years?
At 8.5% a year, the EMI is ₹34,713 and total interest is ₹43,31,103. At 8% it is ₹33,458; at 9%, ₹35,989.
What is the EMI for a ₹40 Lakh home loan for 25 years?
At 8.5% a year, the EMI is ₹32,209 and total interest is ₹56,62,725. At 8% it is ₹30,873; at 9%, ₹33,568.
What is the EMI for a ₹40 Lakh home loan for 30 years?
At 8.5% a year, the EMI is ₹30,757 and total interest is ₹70,72,354. At 8% it is ₹29,351; at 9%, ₹32,185.
What salary do I need for a ₹40 Lakh home loan?
Lenders usually keep EMIs under 50% of net income. For a 20-year loan at 8.5% (EMI ₹34,713), you would need a take-home salary of about ₹69,426 a month, with no other EMIs.
Sources & methodology
Formulas follow the standard methods used by Indian banks, fund houses and government schemes. Rates and tax rules were checked against official sources on 1 October 2026. Read our methodology.
This calculator gives an estimate for planning purposes. Actual returns, tax and eligibility depend on your situation and on product terms. It is not financial advice.