Compare Home Loan EMI: ₹30 Lakh @ 8% (20 Years) vs ₹40 Lakh @ 7.5% (20 Years)
Scenario A
Scenario B
Scenario A
Loan Amount: ₹30 Lakh
Interest Rate: 8%
Tenure: 20 Years
Monthly EMI: ₹25,093
Total Payment: ₹60.2 Lakh
Total Interest: ₹30.2 Lakh
Scenario B
Loan Amount: ₹40 Lakh
Interest Rate: 7.5%
Tenure: 20 Years
Monthly EMI: ₹32,224
Total Payment: ₹77.3 Lakh
Total Interest: ₹37.3 Lakh
Difference
EMI Difference: ₹7,131
Total Payment Difference: ₹17.1 Lakh
Total Interest Difference: ₹7.1 Lakh