₹50.00L
8.5%
20 Yrs
How Amortization Works
In the early years of a mortgage, a massive chunk of your EMI goes towards paying the interest. Very little goes towards reducing the principal. In the later years, the ratio flips. This is why prepaying early saves so much money.
Conclusion
For a loan of ₹50.00L at 8.5% over 20 years, your monthly EMI will be ₹43,391. You will pay a total of ₹54.14L in interest over the lifetime of the loan.
Monthly EMI
₹43,391
Principal Loan
₹50,00,000
Total Interest
+₹54,13,879