What is the EMI for a ₹5 lakh loan for 10 years?

About ₹6,199 a month at 8.5% a year, with ₹2,43,914 paid in interest over 120 months. At 9.5% the EMI is about ₹6,470.

How much do I save by prepaying a ₹5 lakh loan?

Paying ₹1,000 extra every month at 8.5% clears the loan in 8 years instead of 10 years and saves about ₹53,223 in interest.

EMI for a ₹5 lakh loan for 10 years

At 8.5% a year, the EMI is

₹6,199

a month for 120 months. You pay ₹2.44 lakh in interest, ₹7.44 lakh in all.

Change the numbers

At different interest rates

Rate	EMI	Interest	Total paid
8%	₹6,066	₹2.28 lakh	₹7.28 lakh
8.5%	₹6,199	₹2.44 lakh	₹7.44 lakh
9%	₹6,334	₹2.6 lakh	₹7.6 lakh
9.5%	₹6,470	₹2.76 lakh	₹7.76 lakh
10%	₹6,608	₹2.93 lakh	₹7.93 lakh
11%	₹6,888	₹3.27 lakh	₹8.27 lakh

Paying ₹1,000 extra each month at 8.5% clears the loan in 8 years and saves about ₹53.2k in interest.

Repayment schedule at 8.5%

Year	Loan repaid	Interest	Still owed
1	₹33,164	₹41,228	₹4,66,836
2	₹36,095	₹38,296	₹4,30,741
3	₹39,285	₹35,106	₹3,91,456
4	₹42,758	₹31,633	₹3,48,698
5	₹46,537	₹27,854	₹3,02,160
6	₹50,651	₹23,741	₹2,51,510
7	₹55,128	₹19,263	₹1,96,382
8	₹60,001	₹14,391	₹1,36,381
9	₹65,304	₹9,087	₹71,077
10	₹71,077	₹3,315	₹0

₹5 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.