Compare Home Loan EMI: ₹10 Lakh @ 7% (10 Years) vs ₹20 Lakh @ 8% (15 Years)
Scenario A
Scenario B
Scenario A
Loan Amount: ₹10 Lakh
Interest Rate: 7%
Tenure: 10 Years
Monthly EMI: ₹11,611
Total Payment: ₹13.9 Lakh
Total Interest: ₹3.9 Lakh
Scenario B
Loan Amount: ₹20 Lakh
Interest Rate: 8%
Tenure: 15 Years
Monthly EMI: ₹19,113
Total Payment: ₹34.4 Lakh
Total Interest: ₹14.4 Lakh
Difference
EMI Difference: ₹7,502
Total Payment Difference: ₹20.5 Lakh
Total Interest Difference: ₹10.5 Lakh