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₹12 Lakh Home Loan EMI

Know the EMI for a home loan of ₹12 Lakhs and opt for suitable loan terms

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Your Monthly Loan EMI
₹ 8,350
Total Interest

₹ 1,805,830

Principal Amount

₹ 12,00,000

Total Payable Amount

₹ 30,05,830

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Interest Rate
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Max value reached
Tenure
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Check Eligibility

You can easily compare Home Loan offers from multiple lenders on Bajaj Markets.

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This platform also provides a clear view of the total interest payable and the overall repayment amount, enabling you to plan your finances and budget more efficiently.

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Applying for an affordable home loan of ₹12 Lakhs can help you finance the purchase of a home. To find affordable terms, knowing the ₹12 Lakh home loan EMI is essential. With an EMI calculator, you can compare the EMI amount at various tenures.

For example, taking a home loan of ₹12 Lakhs at an interest rate of 7.99% per annum for a tenure of 10 years, your monthly EMI will be approximately ₹14,553. Over the loan period, the total interest payable would be around ₹5.46 Lakhs.

This means the total repayment amount, including both principal and interest, is ₹17.46 Lakhs.

₹12 Lakh Home Loan EMI for Different Tenures

The following table includes the ₹12 Lakh home loan EMI that you will need to pay at various tenures, with an interest rate of 8.50% p.a.:

Repayment Tenure

Loan Amount

Interest Rate

EMI Amount

5 Years 

₹12 Lakhs

8.50% p.a.

₹24,620

10 Years

₹12 Lakhs

8.50% p.a.

₹14,878

15 Years

₹12 Lakhs

8.50% p.a.

₹11,817

20 Years

₹12 Lakhs

8.50% p.a.

₹10,414

25 Years

₹12 Lakhs

8.50% p.a.

₹9,663

30 Years

₹12 Lakhs

8.50% p.a.

₹9,227

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

₹12 Lakh Home Loan: EMI and Interest Payable for Various Tenures

Check out the following tables to learn about the EMI and other payable amounts for a home loan of ₹12 Lakhs for different tenures:

₹12 Lakh Home Loan EMI for 5 Years

Refer to the table below to view the ₹12 Lakh home loan for 5 years:

Loan Amount

₹12 Lakhs

Interest Rate

7.99% p.a.

Tenure 

5 years

EMI Amount

₹24,326

Total Interest Payable

₹2,59,556

Total Amount Payable

₹14,59,556

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

₹12 Lakh Home Loan EMI for 10 Years

Explore the following table to understand the ₹12 Lakhs home loan EMI for 10 years: 

Loan Amount

₹12 Lakhs

Interest Rate

7.99% p.a.

Tenure 

10 years

EMI Amount

₹14,553

Total Interest Payable

₹5,46,357

Total Amount Payable

₹17,46,357

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

₹12 Lakh Home Loan EMI for 15 Years

Here are the details of the total interest charges and total payable amount for a ₹12 Lakhs home loan EMI for 15 years: 

Loan Amount

₹12 Lakhs

Interest Rate

7.99% p.a.

Tenure 

15 years

EMI Amount

₹11,461

Total Interest Payable

₹8,62,962

Total Amount Payable

₹20,62,962

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

₹12 Lakh Home Loan EMI for 20 Years

Check the table to see the monthly EMI for a ₹12 Lakhs home loan with a 20-year repayment term:

Loan Amount

₹12 Lakhs

Interest Rate

7.99% p.a.

Tenure 

20 years

EMI Amount

₹10,030

Total Interest Payable

₹12,07,155

Total Amount Payable

₹24,07,155

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

₹12 Lakh Home Loan EMI for 25 Years

Know the EMI amount for a ₹12 Lakhs home loan over 25 years in the table below:

Loan Amount

₹12 Lakhs

Interest Rate

7.99% p.a.

Tenure 

25 years

EMI Amount

₹9,254

Total Interest Payable

₹15,76,154

Total Amount Payable

₹27,76,154

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

₹12 Lakh Home Loan EMI for 30 Years

The table below provides a clear overview of the EMI on a ₹12 Lakhs home loan for 30 years:

Loan Amount

₹12 Lakhs

Interest Rate

7.99% p.a.

Tenure 

30 years

EMI Amount

₹8,797

Total Interest Payable

₹19,66,852

Total Amount Payable

₹31,66,852

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

How To Calculate Home Loan EMI for ₹12 Lakhs

You can calculate your home loan EMI using the following formula: 

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

where:

  • P = Principal loan amount

  • R = Monthly interest rate (Annual interest rate / 12 / 100)

  • N = Loan tenure in months

For example, a home loan of ₹12 Lakhs at 8.50% p.a. for 5 years will result in an EMI of ₹24,620. The total interest payable will amount to ₹2,77,190. Consequently, the total amount payable will be ₹14,77,190.

Instead of performing manual calculations for monthly EMIs, use our house loan EMI calculator online to save time and quickly compare results for different values.

Interest Rates Offered by Different Lenders

You can explore a range of home loan options offered by leading financial institutions for ₹12 Lakhs on Bajaj Markets. 

The table below shows the EMI and total interest payable for a loan amount of ₹12 Lakhs at a tenure of 5 years, based on the lowest interest rates offered by each lender: 

Lender

Interest Rate 

Tenure (Example)

EMI

Total Interest Payable

Bajaj Housing Finance Limited

7.49% p.a.

5 Years

₹24,326

₹2,59,556

PNB Housing Finance

8.50% p.a.

5 Years

₹24,620

₹2,77,190

South Indian Bank

8.50% p.a.

5 Years

₹24,620

₹2,77,190

L&T Finance

8.60% p.a.

5 Years

₹24,678

₹2,80,663

LIC Housing Finance

8.65% p.a.

5 Years

₹24,707

₹2,82,401

Sammaan Capital

8.75% p.a.

5 Years

₹24,765

₹2,85,881

ICICI Bank

9.00% p.a.

5 Years

₹24,910

₹2,94,602

Kotak Mahindra Bank

9.00% p.a.

5 Years

₹24,910

₹2,94,602

Shubham Housing Finance

9.90% p.a.

5 Years

₹25,437

₹3,26,247

Truhome Finance

11.50% p.a.

5 Years

₹26,391

₹3,83,468

Home First Finance Company

12.00% p.a.

5 Years

₹26,693

₹4,01,600

Vridhi Home Finance

12.00% p.a.

5 Years

₹26,693

₹4,01,600

India Shelter

13.00% p.a.

5 Years 

₹27,304

₹4,38,221

Easy Home Finance

10.50% p.a.

5 Years

₹25,792

₹3,47,560

Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.

Frequently Asked Questions

What is the eligibility for a ₹12 Lakh home loan?

Here are the general eligibility criteria for a home loan of ₹12 Lakhs:

  • You must be an Indian citizen and resident

  • You should be 23–67 years old if salaried, or 23–70 years old if self-employed

  • Salaried individuals must have a minimum work experience of 3 years

  • Self-employed individuals must have a business vintage of at least 5 years

Submit the following documents to apply for a home loan of ₹12 Lakhs:

  • Proof of Identity: PAN card, Aadhaar card, Voter ID, or Driving Licence

  • Proof of Address: Aadhaar card, Passport, or Recent utility bill

  • Income Proof (Salaried): Last 3 months’ salary slips, Form 16, or last 2 years' ITR

  • Income Proof (Self-employed): Audited balance sheet, last 2 years' ITR, P&L statements (3 years), business licence, TDS certificate, or qualification proof (if applicable)

The starting interest rate range for a home loan on Bajaj Markets can range between 7.45% and 13.00%.

The maximum repayment period can range up to 32 years, ensuring long-term affordability and lower monthly instalments.

Yes, you can apply for a housing loan with a low credit score. However, you may have to pay a higher interest rate.

It will initially lower your credit score. You also have to pay late payment penalties, and it will increase your overall interest.

Yes, joint home loans are usually available for married couples, family members, and business partners.

The exact amount will vary based on the lender. So, check the requirements for the particular lender.

Follow these steps to apply for a home loan on Bajaj Markets::

  1. Click on the ‘Check Eligibility' button on this page

  2. Provide your basic personal details on the online application form

  3. Enter the loan amount and preferred repayment tenure

  4. Submit the form for verification

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