Question 1

What is the EMI for a ₹20,00,000 loan?

Accepted Answer

At 9% p.a. over 20 years the EMI is about ₹17,995. Over 10 years it is ₹25,335, and over 30 years ₹16,092.

Question 2

How much total interest will I pay on ₹20,00,000?

Accepted Answer

Over 20 years at 9% you pay about ₹23,18,685 in interest. A shorter tenure reduces it substantially.

Question 3

Does a longer tenure reduce the EMI?

Accepted Answer

Yes — a longer tenure lowers the monthly EMI but increases the total interest paid over the life of the loan.

Question 4

Is this the same for home, car and personal loans?

Accepted Answer

The reducing-balance EMI formula is identical across loan types; only your actual interest rate differs. Adjust it in the full EMI Calculator.