A ₹30 lakh loan at 8.5% for 20 years has an EMI of about ₹26,035. Over 240 months interest is about ₹32,48,327 — more than the principal.
| Rate | Tenure | EMI | Total interest |
|---|---|---|---|
| 8.4% | 20 years | ₹25,845 | ₹32,02,832 |
| 8.5% | 20 years | ₹26,035 | ₹32,48,327 |
| 9.4% | 20 years | ₹27,768 | ₹36,64,398 |
| 8.4% | 25 years | ₹23,955 | ₹41,86,494 |
If the rate is 7.5% for 20 years instead, EMI is about ₹24,168. A one-percentage-point move at this ticket size is roughly ₹1,900 a month. That is why a balance-transfer discussion starts with remaining tenure and fees, not only the headline rate.
Run your own numbers on the home loan calculator and compare a cheaper offer with the refinance calculator.
Sample rates only. Lenders set their own spreads. experts@growmoneycalculator.com