What is the EMI for a ₹15 lakh loan for 10 years?

About ₹18,598 a month at 8.5% a year, with ₹7,31,742 paid in interest over 120 months. At 9.5% the EMI is about ₹19,410.

How much do I save by prepaying a ₹15 lakh loan?

Paying ₹4,000 extra every month at 8.5% clears the loan in 7 years 6 months instead of 10 years and saves about ₹1,98,062 in interest.

EMI for a ₹15 lakh loan for 10 years

At 8.5% a year, the EMI is

₹18,598

a month for 120 months. You pay ₹7.32 lakh in interest, ₹22.32 lakh in all.

Change the numbers

At different interest rates

Rate	EMI	Interest	Total paid
8%	₹18,199	₹6.84 lakh	₹21.84 lakh
8.5%	₹18,598	₹7.32 lakh	₹22.32 lakh
9%	₹19,001	₹7.8 lakh	₹22.8 lakh
9.5%	₹19,410	₹8.29 lakh	₹23.29 lakh
10%	₹19,823	₹8.79 lakh	₹23.79 lakh
11%	₹20,663	₹9.8 lakh	₹24.8 lakh

Paying ₹4,000 extra each month at 8.5% clears the loan in 7 years 6 months and saves about ₹1.98 lakh in interest.

Repayment schedule at 8.5%

Year	Loan repaid	Interest	Still owed
1	₹99,491	₹1,23,683	₹14,00,509
2	₹1,08,285	₹1,14,889	₹12,92,224
3	₹1,17,856	₹1,05,318	₹11,74,367
4	₹1,28,274	₹94,900	₹10,46,094
5	₹1,39,612	₹83,562	₹9,06,481
6	₹1,51,953	₹71,222	₹7,54,529
7	₹1,65,384	₹57,790	₹5,89,145
8	₹1,80,002	₹43,172	₹4,09,143
9	₹1,95,913	₹27,261	₹2,13,230
10	₹2,13,230	₹9,944	₹0

₹15 lakh over other terms

Other loan amounts for 10 years

Boond is a calculator, not investment advice. Mutual fund investments are subject to market risks. Returns shown are estimates at the rates listed, before tax.