Land Loan EMI Calculator: Tables, Formula and Prepayment (2026)

The EMI formula

Every table on this page uses the same formula, which is how banks and housing finance companies compute a reducing-balance loan:

EMI = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)

• P is the principal (loan amount) in rupees.
• r is the monthly interest rate as a decimal: the annual rate divided by 12 and by 100. At 10 percent a year, r = 10 ÷ 1200 = 0.008333.
• n is the number of monthly instalments: years × 12.

Total payment over the loan = EMI × n. Total interest = EMI × n − P. Each instalment is split between interest on the outstanding balance and principal repayment; early in the loan most of the EMI is interest, and the split reverses as the balance falls. The figures below are rounded to the nearest rupee and assume a fixed rate for the full tenure and payments starting one month after disbursement. A floating rate, a processing fee, insurance or a moratorium period will change the real cost.

EMI tables: ₹10 lakh to ₹2 crore at illustrative rates

Tenure 5 years: monthly EMI (₹)

Tenure 10 years: monthly EMI (₹)

Tenure 15 years: monthly EMI (₹)

Tenure 20 years: monthly EMI (₹)

The per-lakh shortcut

If your loan amount is not in the tables, use the EMI per ₹1 lakh and multiply. A ₹37 lakh loan at 10 percent for 15 years is 37 × 1,074.61 = ₹39,761 a month.

Reading across a row shows how much each percentage point costs: on a 20-year loan, moving from 9 to 10 percent adds about ₹65 a month per lakh, or ₹3,265 a month on ₹50 lakh. Reading down a column shows the tenure effect: the 20-year EMI at 10 percent is less than half the 5-year EMI, but the total interest is far higher, as the next table shows.

Total interest paid: the cost of a longer tenure

The table shows total interest over the life of a ₹50 lakh loan. Scale it in proportion for other amounts (a ₹1 crore loan pays twice the interest shown).

At 10 percent, stretching ₹50 lakh from 10 to 20 years cuts the EMI from ₹66,075 to ₹48,251 but more than doubles the interest, from about ₹29.3 lakh to about ₹65.8 lakh. For land that you intend to hold for appreciation, the long tenure can still be rational if the carrying cost is below the expected gain, but the interest number should be in your return calculation; see how buyers value land.

Three worked examples (illustrative rates)

Example 1: ₹25 lakh plot loan, 9 percent, 10 years

r = 9 ÷ 1200 = 0.0075; n = 120. EMI = 25,00,000 × 0.0075 × (1.0075)¹²⁰ ÷ ((1.0075)¹²⁰ − 1) = ₹31,669. Total paid ₹38,00,273; total interest ₹13,00,273.

Example 2: ₹60 lakh land loan, 10 percent, 15 years

r = 0.008333; n = 180. EMI = ₹64,476. Total paid ₹1,16,05,735; total interest ₹56,05,735. If the land costs ₹1 crore and the lender funds 60 percent, this is the loan; the remaining ₹40 lakh plus stamp duty, registration fee and the lender's charges come from your own funds.

Example 3: ₹1.2 crore loan, 11 percent, 20 years

r = 0.009167; n = 240. EMI = ₹1,23,863. Total paid ₹2,97,27,026; total interest ₹1,77,27,026, more than the principal. A loan of this size on land usually requires the land to be a non-agricultural, approved plot; see the LTV section below.

The prepayment effect

Prepaying principal early in a loan saves far more interest than the same amount paid late, because interest is charged on the outstanding balance. Two ways to use a prepayment: keep the EMI and shorten the tenure, or keep the tenure and lower the EMI. The first saves more interest.

Illustration (computed from the formula, illustrative 10 percent rate): a ₹50 lakh loan over 20 years has an EMI of ₹48,251 and pays about ₹65,80,260 in interest over 240 months. Prepaying ₹5 lakh at the end of year 3 and keeping the same EMI clears the loan in about 194 months instead of 240, and total interest falls to about ₹48,42,765, a saving of roughly ₹17,37,495 and 46 months.

• Check the prepayment terms before signing. Charges on floating-rate loans to individuals have been restricted by the regulator, but fixed-rate loans and loans to firms can carry a charge; read the sanction letter.
• Prepay from surplus, not from the money set aside for stamp duty and registration, which fall due on the registration date.
• If the land is held for appreciation, compare the interest saved against what the money would earn elsewhere.

Loan-to-value: how much a lender will fund

The EMI tables assume you can borrow the amount in the first column. On land, that is the harder question. Lenders fund a percentage of the lower of the price and their own valuation, called the loan-to-value (LTV) ratio, and that percentage is lower for plots than for houses. Two rules shape what you can borrow:

• Plot loans fund approved, non-agricultural residential plots, usually at a lower LTV and a shorter maximum tenure than home loans, and often with a condition to build within a stated period. Read plot loan vs home loan for the differences in tenure, LTV, tax treatment and conditions.
• Raw agricultural land is rarely funded by banks for purchase. Agricultural credit (such as Kisan Credit Card limits) is for cultivation, not for buying farmland as an investment, and a bank's ability to enforce a mortgage on agricultural land is limited by state law. Read why banks do not fund raw agricultural land and farmland as loan collateral.

Practical consequence: if the land you want is agricultural, plan to fund it from your own money or from a loan against other security, and use these tables to size that loan. If it is an approved plot, budget your own contribution at the full gap between price plus duty and the lender's LTV on its valuation, not on the price. Lender valuations often sit at or near the circle rate; see circle rate vs market rate.

How to use this with your document

• From the sale agreement, note the price. From our stamp duty pages (for example stamp duty and registration charges by state), estimate duty and fee. Add the lender's processing fee and legal and valuation charges.
• From the lender's sanction letter, note the LTV, the sanctioned amount, the rate, whether it is fixed or floating, the tenure and the prepayment terms.
• Look up the EMI for the sanctioned amount and rate in the tables, or compute it with the per-lakh shortcut.
• Check the EMI against your monthly surplus with a margin for a rate rise of one or two percentage points; the per-lakh table shows what each point costs.
• Use the total-interest table to see the real cost of the tenure you choose, and decide a prepayment plan.
• Keep the land's own paperwork in order so disbursement is not delayed: title, encumbrance and record checks in the land due diligence checklist.

What is unconfirmed and what this page does not do

This page does not state any lender's interest rate, LTV, fee or product terms; those change and must be read on the lender's current sanction letter. The illustrative 8 to 12 percent columns are placeholders for arithmetic. The EMI figures are exact for the formula stated and were computed in a script, not copied from a lender's calculator. Tax treatment of interest on a plot loan differs from a home loan and depends on the current Income-tax Act; we have not stated any deduction here, and tax rules change, so check the current year.

Frequently Asked Questions

Sources

• Farmland India: Land loans in India (context page; EMI figures on this page are computed from the formula stated)