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₹10 Lakh Home Loan EMI: Bank-wise EMI for 5–30 Years

Ankit Kumar

Oct 29, 2026 · 3 min read

₹10 Lakh Home Loan EMI: Bank-wise EMI for 5–30 Years

The EMI on a ₹10 lakh home loan is ₹7,995 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 ₹6,924; at 8.50%, a typical rate for a lower credit score, the 20-year EMI is ₹8,678.

₹10 lakh home loan EMI by tenure and rate

Tenure	7.40%	8.00%	8.50%	9.00%	9.50%
5 years	₹19,990	₹20,276	₹20,517	₹20,758	₹21,002
10 years	₹11,818	₹12,133	₹12,399	₹12,668	₹12,940
15 years	₹9,213	₹9,557	₹9,847	₹10,143	₹10,442
20 years	₹7,995	₹8,364	₹8,678	₹8,997	₹9,321
25 years	₹7,325	₹7,718	₹8,052	₹8,392	₹8,737
30 years	₹6,924	₹7,338	₹7,689	₹8,046	₹8,409

Monthly EMI on ₹10 lakh, reducing-balance method. Each column is a fixed annual rate for the full tenure.

₹10 lakh home loan EMI at each bank

Bank	Starting rate	EMI, 20 years	Total interest, 20 years
Bank of Baroda	7.40%	₹7,995	₹9,18,775
Canara Bank	7.40%	₹7,995	₹9,18,775
Union Bank of India	7.40%	₹7,995	₹9,18,775
Central Bank of India	7.45%	₹8,025	₹9,26,093
Punjab National Bank	7.45%	₹8,025	₹9,26,093
State Bank of India	7.50%	₹8,056	₹9,33,424
Kotak Mahindra Bank (lends from ₹20 lakh)	7.60%	₹8,117	₹9,48,125
Axis Bank (lends from ₹20 lakh)	8.00%	₹8,364	₹10,07,456
HDFC Bank	8.00%	₹8,364	₹10,07,456
ICICI Bank (lends from ₹20 lakh)	8.75%	₹8,837	₹11,20,906

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 ₹10 lakh loan

RBI rules cap a housing loan up to ₹30 lakh at 90% of the property value. To borrow ₹10 lakh, the property must be worth at least ₹11,11,111, so the down payment is at least ₹1,11,111. Stamp duty and registration are extra and are not funded by the loan.

Salary needed for a ₹10 lakh home loan

Tenure	EMI at 7.40%	Net monthly income if EMI is 50% of income	If EMI is 60% of income
15 years	₹9,213	₹18,427	₹15,356
20 years	₹7,995	₹15,990	₹13,325
25 years	₹7,325	₹14,650	₹12,208
30 years	₹6,924	₹13,848	₹11,540

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 ₹10 lakh home loan

Tenure	EMI	Total interest	Total repaid
10 years	₹11,818	₹4,18,166	₹14,18,166
15 years	₹9,213	₹6,58,410	₹16,58,410
20 years	₹7,995	₹9,18,775	₹19,18,775
25 years	₹7,325	₹11,97,497	₹21,97,497
30 years	₹6,924	₹14,92,567	₹24,92,567

Paying an extra 5% of the loan (₹50,000) once a year on a 20-year loan at 7.40% saves ₹4,95,498 in interest and ends the loan 120 months early. Floating-rate home loans to individuals carry no prepayment penalty.

PMAY-U 2.0 subsidy on this loan

A loan of this size can qualify for the PMAY-U 2.0 interest subsidy if the household income is up to ₹9 lakh a year, the property costs up to ₹35 lakh, and no one in the household owns a pucca house. The subsidy is 4% on the first ₹8 lakh of the loan for up to 12 years, capped at ₹1.80 lakh and paid to the loan account in five yearly instalments. Source: PMAY-U 2.0 Interest Subsidy Scheme.

ICICI Bank, Axis Bank, Kotak Mahindra Bank set a minimum loan above ₹10 lakh on Ambak's lender panel, so they are marked in the bank table.

Tax benefit on a ₹10 lakh home loan

In year 1 at 7.40% over 20 years you pay about ₹73,240 as interest and ₹22,698 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.