₹5 Lakh Home Loan EMI for 20 Years
The EMI for a ₹5 Lakh home loan over 20 years is about ₹4,371/month at 8.6% p.a. Over the full tenure you repay ₹10.49 L — of which ₹5.49 L is interest. Updated for 2026.
₹5 Lakh EMI at different interest rates (20 years)
Even a 0.5% rate difference changes your total interest by lakhs. This is why negotiating your rate — or transferring your balance — matters more than most borrowers realise.
| Interest Rate | Monthly EMI | Total Interest |
|---|---|---|
| 8% p.a. | ₹4,182 | ₹5.04 L |
| 8.25% p.a. | ₹4,260 | ₹5.22 L |
| 8.5% p.a. | ₹4,339 | ₹5.41 L |
| 8.75% p.a. | ₹4,419 | ₹5.61 L |
| 9% p.a. | ₹4,499 | ₹5.80 L |
| 9.25% p.a. | ₹4,579 | ₹5.99 L |
| 9.5% p.a. | ₹4,661 | ₹6.19 L |
| 10% p.a. | ₹4,825 | ₹6.58 L |
₹5 Lakh home loan EMI by bank (20 years)
EMI for a ₹5 Lakh loan over 20 years at each lender's minimum 2026 rate. Sorted lowest first.
| Bank | Min Rate | Monthly EMI | Processing Fee |
|---|---|---|---|
| BoI | 7.1% | ₹3,907 | Varies |
| Central Bank | 7.1% | ₹3,907 | Varies |
| IOB | 7.1% | ₹3,907 | Varies |
| P&S Bank | 7.1% | ₹3,907 | Varies |
| Canara | 7.15% | ₹3,922 | 0.50% (varies) |
| UCO | 7.15% | ₹3,922 | Varies |
| BoB | 7.2% | ₹3,937 | Up to 0.50% (varies) |
| Bajaj Housing | 7.25% | ₹3,952 | Up to 0.50% + GST |
| Union Bank | 7.35% | ₹3,982 | Varies |
| BoM | 7.35% | ₹3,982 | Varies |
Cut this loan short: the prepayment effect
On a ₹5 Lakh loan at 8.6% over 20 years, the first few years are almost entirely interest. Adding just ₹10,000/month toward the principal closes the loan in roughly 3 years 5 months and saves about ₹4.72 L in interest.
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₹5 Lakh EMI at other tenures
Other loan amounts for 20 years
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Frequently Asked Questions
What is the EMI for a ₹5 Lakh home loan for 20 years?
The EMI for a ₹5 Lakh home loan over 20 years is approximately ₹4,371 per month at an interest rate of 8.6% p.a. The exact EMI depends on your bank's rate — at 8% it is ₹4,182 and at 9.5% it is ₹4,661 per month.
How much total interest will I pay on a ₹5 Lakh loan over 20 years?
At 8.6% p.a. you would pay roughly ₹5,49,040 in total interest over 20 years — making the total repayment about ₹10,49,040 against a borrowed amount of ₹5,00,000. A longer tenure lowers the EMI but sharply increases total interest.
Which bank offers the lowest EMI for a ₹5 Lakh home loan?
Based on current 2026 minimum rates, Bank of India offers the lowest EMI at about ₹3,907/month (7.1% p.a.) for a ₹5 Lakh loan over 20 years. Always compare the processing fee and reset terms, not just the headline rate.
How much can I save by prepaying this loan?
Adding just ₹10,000/month towards the principal on a ₹5 Lakh loan can close it in about 3 years 5 months instead of 20 years, saving roughly ₹4,71,850 in interest. Use the NestSaver prepayment simulator to model your exact numbers.
Should I choose a shorter or longer tenure?
A shorter tenure means a higher EMI but far less total interest; a longer tenure eases monthly cash flow but costs much more overall. For a ₹5 Lakh loan, moving from 30 to 20 years raises the EMI by about ₹491/month but can save ₹3,47,760 in interest.