Home loan EMI at 9% interest
Even half a percent on your rate changes your EMI for years. At 9%, a ₹50 lakh loan for 20 years has an EMI of about ₹44,986, and you would pay ₹57,96,711 in interest over the term. Every ₹1 lakh you borrow costs roughly ₹900 a month at this rate and tenure. The table below shows the EMI for loans from ₹20 lakh to ₹1 crore over 10 to 30 years, all at 9%. Use it to see how the tenure changes your payment. Then enter your own loan amount and tenure in the calculator above. If your bank quotes a different rate, change the rate box and the numbers update at once. The rates here are examples, so check your lender's current rate before you decide.
- ₹44,986
- Principal amount
- ₹50,00,000
- Total interest
- ₹57,96,711
- Total amount
- ₹1,07,96,711
You'll pay ₹57.97 L interest on a ₹50 L loan.
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What if…
One prepayment or a 0.5% rate change can move your interest by lakhs. Try one.
· Add a one-time payment or an extra monthly amount to see the saving.
Worth knowing
For every ₹1 you borrow, you pay back ₹1.16 in interest.
In year 13, more of your EMI starts going to the loan than to interest.
Pay one extra EMI a year and you save ₹11.58 L and finish 41 months early.
Banks use the standard reducing-balance formula:
EMI = P × r × (1+r)n / ((1+r)n − 1)
P is the loan amount, r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months.
With your numbers
- P = ₹50,00,000
- r = 9% ÷ 12 ÷ 100 = 0.007500
- n = 240 months
- EMI = ₹44,986
Each month interest is charged on what you still owe. That is why early EMIs are mostly interest.
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| Loan amount | 10 years | 15 years | 20 years | 25 years | 30 years |
|---|---|---|---|---|---|
| ₹20 L | ₹25,335 | ₹20,285 | ₹17,995 | ₹16,784 | ₹16,092 |
| ₹30 L | ₹38,003 | ₹30,428 | ₹26,992 | ₹25,176 | ₹24,139 |
| ₹50 L | ₹63,338 | ₹50,713 | ₹44,986 | ₹41,960 | ₹40,231 |
| ₹75 L | ₹95,007 | ₹76,070 | ₹67,479 | ₹62,940 | ₹60,347 |
| ₹1 Cr | ₹1,26,676 | ₹1,01,427 | ₹89,973 | ₹83,920 | ₹80,462 |
Common questions
- What is the EMI at 9% for 20 years?
- About ₹900 a month for every ₹1 lakh you borrow. On ₹50 lakh that is ₹44,986.
- Is 9% a good home loan rate?
- That depends on your credit score, your income and what lenders are offering right now. Compare at least three banks and ask which benchmark your rate is linked to.
- What if my rate goes up after I take the loan?
- Floating rates follow the RBI repo rate. When the rate rises, your bank will either raise the EMI or extend the tenure. A 0.5% rise adds about ₹1,620 a month on ₹50 lakh over 20 years.
- How is the EMI worked out?
- EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate and n is the number of months.