Home loans have the longest tenures (up to 30 years) and usually the lowest interest rates among consumer loans. Your EMI depends on the loan amount, the rate your bank offers, and the tenure you choose. Even a small rate difference of 0.5% can save lakhs over a 20-year loan.
Monthly EMI
₹21,696
Apply for this loanPrincipal
₹25,00,000
Total interest
₹27,07,040
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | ₹3,988 | ₹17,708 | ₹24,96,012 |
| 2 | ₹4,016 | ₹17,680 | ₹24,91,996 |
| 3 | ₹4,044 | ₹17,652 | ₹24,87,952 |
| 4 | ₹4,073 | ₹17,623 | ₹24,83,879 |
| 5 | ₹4,102 | ₹17,594 | ₹24,79,777 |
| 6 | ₹4,131 | ₹17,565 | ₹24,75,646 |
Rates shown are indicative only. Starting rates are guides; final interest, fees, and approval are set by the lending institution.
Home loans are secured against the property, so interest rates are lower (8 to 10% vs 10 to 24% for personal loans). Tenures are much longer (up to 30 years vs 5 years), which means lower monthly EMI but much more total interest over the loan life.
Shorter tenure means higher EMI but far less total interest. For a 25 lakh loan at 8.5%, moving from 25 years to 15 years saves about 16 lakh in interest but increases EMI by about 4,500. Use the calculator to find the balance that works for you.
Yes. You can make partial prepayments to reduce the principal (and thus the EMI or tenure). You can also do a balance transfer to a lower rate. Some lenders allow you to restructure the EMI after a few years.
Missing an EMI leads to late payment charges (usually 1 to 2% of the overdue amount) and a negative mark on your credit report. Repeated defaults can lead to the bank initiating recovery proceedings under SARFAESI Act.
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