₹6.45 lakh saved
Pay ₹2 lakh extra at the start of year 3 and finish 2 yr 0 mo early. Check your loan agreement for a prepayment charge.
₹40 lakh home loan EMI
A ₹40 lakh home loan at 8.5% for 20 years costs ₹34,713 a month, and ₹43.31 lakh in interest overall.
- Verified 26 September 2026
- Formula shown
- By the Accurio.in team
Your monthly EMI
₹34,713 / month
240 monthly payments at 8.5% a year
- Principal
- ₹40,00,000
- Interest
- ₹43,31,103
Total you repay₹83,31,103
Try a what-if
4 yr 0 mo sooner
Pay ₹38,184 instead of ₹34,713 and save ₹10.02 lakh in interest.
₹1,255 a month
What 8% instead of 8.5% saves you, or ₹3.01 lakh over the loan.
See where your money goes
Balance leftInterest paid so farDrag across the chart
Select a year to see its months.
| Year | Principal | Interest | Balance left |
|---|---|---|---|
| ₹79,609 | ₹3,36,946 | ₹39,20,391 | |
| ₹86,646 | ₹3,29,909 | ₹38,33,745 | |
| ₹94,305 | ₹3,22,251 | ₹37,39,440 | |
| ₹1,02,640 | ₹3,13,915 | ₹36,36,800 | |
| ₹1,11,713 | ₹3,04,842 | ₹35,25,087 | |
| ₹1,21,587 | ₹2,94,968 | ₹34,03,500 | |
| ₹1,32,334 | ₹2,84,221 | ₹32,71,166 | |
| ₹1,44,031 | ₹2,72,524 | ₹31,27,134 | |
| ₹1,56,763 | ₹2,59,793 | ₹29,70,372 | |
| ₹1,70,619 | ₹2,45,936 | ₹27,99,753 | |
| ₹1,85,700 | ₹2,30,855 | ₹26,14,053 | |
| ₹2,02,114 | ₹2,14,441 | ₹24,11,939 | |
| ₹2,19,979 | ₹1,96,576 | ₹21,91,959 | |
| ₹2,39,424 | ₹1,77,132 | ₹19,52,536 | |
| ₹2,60,586 | ₹1,55,969 | ₹16,91,949 | |
| ₹2,83,620 | ₹1,32,935 | ₹14,08,329 | |
| ₹3,08,689 | ₹1,07,866 | ₹10,99,640 | |
| ₹3,35,975 | ₹80,581 | ₹7,63,665 | |
| ₹3,65,672 | ₹50,883 | ₹3,97,994 | |
| ₹3,97,994 | ₹18,561 | ₹0 |
| Tenure | EMI | Total interest |
|---|---|---|
| 5 years | ₹82,066 | ₹9.24 lakh |
| 10 years | ₹49,594 | ₹19.51 lakh |
| 15 years | ₹39,390 | ₹30.9 lakh |
| 20 years | ₹34,713 | ₹43.31 lakh |
| 25 years | ₹32,209 | ₹56.63 lakh |
| 30 years | ₹30,757 | ₹70.72 lakh |
Compare two offers
Same loan amount. Change the second offer’s rate or tenure to see the real difference.
Offer A 8.5% · 20 yrs
EMI₹34,713
Total interest₹43.31 lakh
Offer B%yrs
EMI₹34,083
Total interest₹41.8 lakh
Offer B saves ₹1.51 lakh in interest and ₹630 a month.
₹40 lakh home loan EMI by tenure and rate
₹40 lakh at 8.5% (the example rate)
| Tenure | EMI | Total interest |
|---|---|---|
| 5 years | ₹82,066 | ₹9,23,968 |
| 10 years | ₹49,594 | ₹19,51,313 |
| 15 years | ₹39,390 | ₹30,90,125 |
| 20 years | ₹34,713 | ₹43,31,103 |
| 25 years | ₹32,209 | ₹56,62,725 |
| 30 years | ₹30,757 | ₹70,72,354 |
₹40 lakh for 20 years (the example tenure)
| Rate | EMI | Total interest |
|---|---|---|
| 7.5% | ₹32,224 | ₹37,33,695 |
| 8% | ₹33,458 | ₹40,29,825 |
| 8.5% | ₹34,713 | ₹43,31,103 |
| 9% | ₹35,989 | ₹46,37,369 |
| 9.5% | ₹37,285 | ₹49,48,459 |
| 10% | ₹38,601 | ₹52,64,208 |
Your bank’s rate and tenure decide your EMI: enter them in the calculator above.
Other amounts
How this is calculated
The formula
EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1)
- P = loan amount, r = monthly rate (annual rate ÷ 12 ÷ 100), n = number of months.
- Interest is charged each month on the balance still owed.
Assumptions
- The rate stays the same for the whole tenure.
- Processing fees and insurance are not included.
- The prepayment example pays a lump sum at the start of year 3 (after 24 EMIs) and keeps the EMI the same, so the loan ends sooner.
- Any prepayment or foreclosure charge in your loan agreement is not included.
Why is my bank’s EMI slightly different?
Banks round the EMI to the rupee and settle the difference in the last instalment, and some add fees to the loan. The gap is usually a few rupees.
Is a longer tenure better?
It lowers the EMI but you pay more interest overall. The “Other tenures” tab above shows the trade-off for your loan.
Does prepaying really help?
Yes. An early prepayment cuts the balance that interest is charged on, so it saves the most when made in the first years of the loan. Check your loan agreement for any prepayment or foreclosure charge before you prepay.
What changed
This calculator uses the standard EMI formula, the one lenders use for a reducing-balance loan. No government rate or limit goes into it, so no rule change affects it. Its method was last checked on 26 September 2026.
Mistakes we have fixed on any page are listed on Corrections.