What is the EMI for a ₹5 lakh loan for 15 years?

About ₹4,924 a month at 8.5% a year, with ₹3,86,266 paid in interest over 180 months. At 9.5% the EMI is about ₹5,221.

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

Paying ₹1,000 extra every month at 8.5% clears the loan in 10 years 10 months instead of 15 years and saves about ₹1,21,706 in interest.

EMI for a ₹5 lakh loan for 15 years

At 8.5% a year, the EMI is

₹4,924

a month for 180 months. You pay ₹3.86 lakh in interest, ₹8.86 lakh in all.

Change the numbers

At different interest rates

Rate	EMI	Interest	Total paid
8%	₹4,778	₹3.6 lakh	₹8.6 lakh
8.5%	₹4,924	₹3.86 lakh	₹8.86 lakh
9%	₹5,071	₹4.13 lakh	₹9.13 lakh
9.5%	₹5,221	₹4.4 lakh	₹9.4 lakh
10%	₹5,373	₹4.67 lakh	₹9.67 lakh
11%	₹5,683	₹5.23 lakh	₹10.23 lakh

Paying ₹1,000 extra each month at 8.5% clears the loan in 10 years 10 months and saves about ₹1.22 lakh in interest.

Repayment schedule at 8.5%

Year	Loan repaid	Interest	Still owed
1	₹17,246	₹41,838	₹4,82,754
2	₹18,770	₹40,314	₹4,63,984
3	₹20,429	₹38,655	₹4,43,554
4	₹22,235	₹36,849	₹4,21,319
5	₹24,201	₹34,884	₹3,97,118
6	₹26,340	₹32,745	₹3,70,778
7	₹28,668	₹30,416	₹3,42,110
8	₹31,202	₹27,882	₹3,10,908
9	₹33,960	₹25,124	₹2,76,949
10	₹36,962	₹22,123	₹2,39,987
11	₹40,229	₹18,856	₹1,99,758
12	₹43,785	₹15,300	₹1,55,973
13	₹47,655	₹11,430	₹1,08,319
14	₹51,867	₹7,217	₹56,452
15	₹56,452	₹2,633	₹0

₹5 lakh over other terms

Other loan amounts for 15 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.