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₹1.5 Crore Home Loan EMI: Bank-wise EMI for 5–30 Years

Riddhi Chhajer

Nov 2, 2026 · 3 min read

₹1.5 Crore Home Loan EMI: Bank-wise EMI for 5–30 Years

The EMI on a ₹1.5 crore home loan is ₹1,19,923 a month over 20 years at 7.40% p.a., the lowest starting rate among large banks in October 2026 (Bank of Baroda, Canara Bank, Union Bank of India). Over 30 years it falls to ₹1,03,857; at 8.50%, a typical rate for a lower credit score, the 20-year EMI is ₹1,30,173.

₹1.5 crore home loan EMI by tenure and rate

Tenure	7.40%	8.00%	8.50%	9.00%	9.50%
5 years	₹2,99,857	₹3,04,146	₹3,07,748	₹3,11,375	₹3,15,028
10 years	₹1,77,271	₹1,81,991	₹1,85,979	₹1,90,014	₹1,94,096
15 years	₹1,38,201	₹1,43,348	₹1,47,711	₹1,52,140	₹1,56,634
20 years	₹1,19,923	₹1,25,466	₹1,30,173	₹1,34,959	₹1,39,820
25 years	₹1,09,875	₹1,15,772	₹1,20,784	₹1,25,879	₹1,31,054
30 years	₹1,03,857	₹1,10,065	₹1,15,337	₹1,20,693	₹1,26,128

Monthly EMI on ₹1.5 crore, reducing-balance method. Each column is a fixed annual rate for the full tenure.

₹1.5 crore home loan EMI at each bank

Bank	Starting rate	EMI, 20 years	Total interest, 20 years
Bank of Baroda	7.40%	₹1,19,923	₹1,37,81,626
Canara Bank	7.40%	₹1,19,923	₹1,37,81,626
Union Bank of India	7.40%	₹1,19,923	₹1,37,81,626
Central Bank of India	7.45%	₹1,20,381	₹1,38,91,391
Punjab National Bank	7.45%	₹1,20,381	₹1,38,91,391
State Bank of India	7.50%	₹1,20,839	₹1,40,01,355
Kotak Mahindra Bank	7.60%	₹1,21,758	₹1,42,21,880
Axis Bank	8.00%	₹1,25,466	₹1,51,11,842
HDFC Bank	8.00%	₹1,25,466	₹1,51,11,842
ICICI Bank	8.75%	₹1,32,557	₹1,68,13,586

Starting rates from each bank's official rate page, checked 26 October 2026. Starting rates go to borrowers with high credit scores; your offer depends on CIBIL score, income type and loan amount. The RBI raised the repo rate to 5.50% on 7 October 2026.

Property value and down payment for a ₹1.5 crore loan

RBI rules cap a housing loan above ₹75 lakh at 75% of the property value. To borrow ₹1.5 crore, the property must be worth at least ₹2,00,00,000, so the down payment is at least ₹50,00,000. Stamp duty and registration are extra and are not funded by the loan.

Salary needed for a ₹1.5 crore home loan

Tenure	EMI at 7.40%	Net monthly income if EMI is 50% of income	If EMI is 60% of income
15 years	₹1,38,201	₹2,76,402	₹2,30,335
20 years	₹1,19,923	₹2,39,847	₹1,99,872
25 years	₹1,09,875	₹2,19,750	₹1,83,125
30 years	₹1,03,857	₹2,07,714	₹1,73,095

Lenders usually keep all EMIs, including this one, within 50–60% of net monthly income for salaried borrowers; existing EMIs reduce the amount you qualify for.

Total cost of a ₹1.5 crore home loan

Tenure	EMI	Total interest	Total repaid
10 years	₹1,77,271	₹62,72,490	₹2,12,72,490
15 years	₹1,38,201	₹98,76,149	₹2,48,76,149
20 years	₹1,19,923	₹1,37,81,626	₹2,87,81,626
25 years	₹1,09,875	₹1,79,62,449	₹3,29,62,449
30 years	₹1,03,857	₹2,23,88,509	₹3,73,88,509

Paying an extra 5% of the loan (₹7,50,000) once a year on a 20-year loan at 7.40% saves ₹74,32,474 in interest and ends the loan 120 months early. Floating-rate home loans to individuals carry no prepayment penalty.

What changes at ₹1.5 crore

Above ₹75 lakh the RBI loan-to-value cap drops to 75%, so a ₹1.5 crore loan needs a property of at least ₹2,00,00,000. Several banks price large loans differently: Bank of Baroda's range is 7.40%–9.15% up to ₹75 lakh and 7.65%–9.40% above it, while Canara Bank's lowest grade rate falls to 7.40% for loans above ₹1 crore.

Tax benefit on a ₹1.5 crore home loan

In year 1 at 7.40% over 20 years you pay about ₹10,98,606 as interest and ₹3,40,475 as principal. Under the old tax regime, interest on a self-occupied home is deductible up to ₹2 lakh a year and principal repayment up to ₹1.5 lakh a year (Sections 24(b) and 80C of the Income-tax Act, 1961; the same limits continue under the Income-tax Act, 2025 from tax year 2026-27). The new tax regime does not allow these deductions for a self-occupied home.

Work out your own figure with the home loan EMI calculator or the prepayment calculator, and compare offers on the home loan interest rates page.