Answer
What is the EMI for a ₹1.5 crore home loan at 9.5% for 30 years?
The monthly EMI on a ₹1.5 crore home loan at 9.5% for 30 years is ₹1,26,128. Over the full tenure you pay ₹4.54 crore — of which ₹3.04 crore is pure interest.
Compare rates, tenures and prepayment scenarios on the full calculator.
Open the EMI calculator with these inputsA ₹1.5 crore home loan at 9.5% over 30 years carries a monthly EMI of ₹1,26,128. By the time you finish paying, you'll have transferred ₹4.54 crore to the bank, meaning the cost of borrowing is ₹3.04 crore — roughly 67% of every rupee you pay goes to interest.
Indian banks use the reducing-balance method, where interest is charged only on the outstanding principal each month. The EMI stays fixed, but the interest portion shrinks while the principal portion grows over time. In the first year of a 20-year home loan, roughly 80% of each EMI is interest.
The most effective way to cut total interest is to prepay aggressively in the early years. A ₹1 lakh prepayment in year 2 of a 30-year loan typically saves several lakhs in lifetime interest, far more than the same prepayment made in year 10.
Related answers
- What is the EMI for a ₹1.5 crore home loan at 9% for 30 years?→ ₹1,20,693/mo
- What is the EMI for a ₹1.5 crore home loan at 10% for 30 years?→ ₹1,31,636/mo
- What is the EMI for a ₹1.5 crore home loan at 9.5% for 25 years?→ ₹1,31,054/mo
- What is the EMI for a ₹1 crore home loan at 9.5% for 30 years?→ ₹84,085/mo
- What is the EMI for a ₹2 crore home loan at 9.5% for 30 years?→ ₹1,68,171/mo
Frequently asked questions
How is the ₹1,26,128 EMI calculated?
Standard reducing-balance formula: EMI = P × r × (1+r)^n / ((1+r)^n − 1), where P is ₹1.5 crore, r is 9.5%/12 monthly, and n is 360 months. All Indian banks use this method.
How much total interest will I pay?
Over 30 years you pay ₹4.54 crore in total — your ₹1.5 crore principal plus ₹3.04 crore in interest. On a long-tenure home loan, the interest can exceed the loan amount itself.
Can I get tax benefits on this EMI?
Under the Old Tax Regime, you can claim up to ₹1.5 lakh principal under 80C and up to ₹2 lakh interest under Section 24(b) for a self-occupied property. The New Regime does not allow either deduction for self-occupied homes.
What if I prepay this loan?
Prepayments reduce either the EMI or the tenure (most borrowers shorten the tenure — it saves more interest). Floating-rate home loans in India have no prepayment penalty for individual borrowers under RBI rules.