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₹20 Lakh Home Loan EMI

Explore ₹20 Lakh home loan EMIs for various tenures. Compare current interest rates from top lenders and learn how to calculate your EMI with ease.

Your Monthly Loan EMI

₹ 23,688

Total Interest

₹ 842,583

Principal Amount

₹ 20,00,000

Total Payable Amount

₹ 28,42,583

Loan Amount

Interest Rate

- +

Tenure

- +

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

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A ₹20 Lakh home loan becomes manageable when you choose the right interest rate and repayment tenure. Understanding how your EMIs vary across tenures helps you make informed financial decisions.

For example:

Taking a home loan of ₹20 Lakhs at an interest rate of 7.99% per annum for a tenure of 5 years, your monthly EMI will be approximately ₹40,543. Over the loan period, the total interest payable would be around ₹4,32,593.

This means the total repayment amount, including both principal and interest, is ₹24,32,593.

₹20 Lakh Home Loan EMI for Different Tenures

The EMI for a ₹20 Lakh home loan varies based on the loan tenure. Check the table below to see approximate EMI amounts for tenures ranging from 5 to 30 years at an interest rate of 7.99% p.a.

Tenure	Loan Amount	Interest Rate	EMI Amount
5 years	₹20 Lakhs	7.99% p.a.	₹40,543
10 Years	₹20 Lakhs	7.99% p.a.	₹24,255
15 Years	₹20 Lakhs	7.99% p.a.	₹19,101
20 Years	₹20 Lakhs	7.99% p.a.	₹16,716
25 Years	₹20 Lakhs	7.99% p.a.	₹15,423
30 Years	₹20 Lakhs	7.99% p.a.	₹14,661

Disclaimer: The values mentioned are approximate and meant for illustration only. For precise EMI details, it is advisable to contact your lender directly.

₹20 Lakh Home Loan: EMI and Interest Payable for Various Tenures

The EMI and total interest payable on a ₹20 Lakhs home loan depend on the loan tenure. A shorter tenure results in higher monthly EMIs but lower total interest, whereas a longer tenure leads to lower EMIs with increased interest costs over time.

At an interest rate of 7.99% p.a., the EMI amount will vary depending on whether you choose a tenure of 5, 10, 15, 20, 25, or 30 years.

₹20 Lakh Home Loan EMI for 5 Years

The total interest charges and total payable amount for a ₹20 Lakh home loan EMI for 5 years are:

Loan Amount	₹20 Lakhs
Interest Rate	7.99% p.a.
Loan Tenure	5 years
EMI Payable	₹40,543
Total Interest Payable	₹4,32,593
Total Payable Amount	₹24,32,593

Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

₹20 Lakh Home Loan EMI for 10 Years

Here is an overview of the total interest charges and total payable amount for a ₹20 Lakh home loan EMI for 10 years:

Loan Amount	₹20 Lakhs
Interest Rate	7.99% p.a.
Loan Tenure	10 years
EMI Payable	₹24,255
Total Interest Payable	₹9,10,594
Total Payable Amount	₹29,10,594

Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

₹20 Lakh Home Loan EMI for 15 Years

Here are the details of the total interest charges and total payable amount for a ₹20 Lakh home loan EMI for 15 years:

Loan Amount	₹20 Lakhs
Interest Rate	7.99% p.a.
Loan Tenure	15 years
EMI Payable	₹19,101
Total Interest Payable	₹14,38,269
Total Payable Amount	₹34,38,269

Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

₹20 Lakh Home Loan EMI for 20 Years

The following table provides the total interest charges and total payable amount for a ₹20 Lakh home loan EMI for 20 years:

Loan Amount	₹20 Lakhs
Interest Rate	7.99% p.a.
Loan Tenure	20 years
EMI Payable	₹16,716
Total Interest Payable	₹20,11,925
Total Payable Amount	₹40,11,925

Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

₹20 Lakh Home Loan EMI for 25 Years

Here is the breakdown of a ₹20 Lakh home loan EMI for 25 years:

Loan Amount	₹20 Lakhs
Interest Rate	7.99% p.a.
Loan Tenure	25 years
EMI Payable	₹15,423
Total Interest Payable	₹26,26,923
Total Payable Amount	₹46,26,923

Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

₹20 Lakh Home Loan EMI for 30 Years

Here are the repayment details for a ₹20 Lakh home loan EMI for 30 years:

Loan Amount	₹20 Lakhs
Interest Rate	7.99% p.a.
Loan Tenure	30 years
EMI Payable	₹14,661
Total Interest Payable	₹32,78,086
Total Payable Amount	₹52,78,086

Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

How To Calculate Home Loan EMI for ₹20 Lakhs

You can calculate your Home Loan EMI using the given formula:

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]

Where:

P = Loan amount
R = Monthly interest rate (Annual interest rate ÷ 12 ÷ 100)
N = Loan tenure in months

For example, when you borrow ₹20 Lakhs on Bajaj Markets at an annual interest rate of 7.99% for 36 months, your EMI comes to approximately ₹62,663. You have to pay a total interest of ₹2,55,886, bringing the overall repayment amount to ₹22,55,886.

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

On Bajaj Markets, easily compare top lenders and their loan terms. Below is a table showing the estimated EMI and total interest payable for a ₹20 Lakh home loan with a tenure of 5 years. It is calculated according to each lender’s interest rate.

Lenders	Min. Interest Rate	Max. Tenure	EMI	Total Interest Payable
Bajaj Housing Finance	7.49% p.a.	60 months	₹40,543	₹4,32,593
PNB Housing Finance	8.50% p.a.	60 months	₹41,033	₹4,61,984
L&T Finance	8.60% p.a.	60 months	₹41,130	₹4,67,771
LIC Housing Finance	8.65% p.a.	60 months	₹41,178	₹4,70,668
Sammaan Capital	8.75%	60 months	₹41,274	₹4,76,468
Home First Finance Company	9.00% p.a.	60 months	₹41,517	₹4,91,003
Kotak Mahindra Bank	9.00% p.a.	60 months	₹41,517	₹4,91,003
ICICI Bank	9.00% p.a.	60 months	₹41,517	₹4,91,003
Shubham Housing Finance	9.90% p.a.	60 months	₹42,396	₹5,43,745
Truhome Finance	11.50%	60 months	₹43,985	₹6,39,113
India Shelter	13.00% p.a.	60 months	₹45,506	₹7,30,369
Easy Home Finance	10.50% p.a.	60 months	₹42,987	₹5,79,268

Disclaimer: The rates are subject to change at the lender’s discretion.

Home Loan EMI on Different Amounts

12 Lakh Home Loan EMI	10 Lakh Home Loan EMI	35 Lakh Home Loan EMI
15 Lakh Home Loan EMI	25 Lakh Home Loan EMI	45 Lakh Home Loan EMI
30 Lakh Home Loan EMI	40 Lakh Home Loan EMI	60 Lakh Home Loan EMI
50 Lakh Home Loan EMI	1 Crore Home Loan EMI	65 Lakh Home Loan EMI
75 Lakh Home Loan EMI	70 Lakh Home Loan EMI	80 Lakh Home Loan EMI
85 Lakhs Home Loan EMI	90 Lakhs Home Loan EMI	95 Lakhs Home Loan EMI

FAQs

What is the eligibility for a ₹20 Lakh home loan?

To get a ₹20 Lakh home loan on Bajaj Markets, you must meet the following eligibility criteria:

Be an Indian citizen and resident aged 23-67 (salaried) or 23-70 (self-employed)
Have at least 3 years of work experience or 5 years of business continuity

What documents are required for a ₹20 Lakh house loan?

Documents Required for a ₹20 Lakh Home Loan:

ID Proof: PAN, Aadhaar, Voter ID, or Driving Licence
Address Proof: Utility bill, Aadhaar, or Passport
For Salaried: Last 3 salary slips, Form 16, 2 years’ ITR
For Self-employed: 2 years’ ITR, audited balance sheet, and business proof

What is the interest rate range for a ₹20 Lakh home loan in India?

The interest rate for a ₹20 Lakh home loan available Bajaj Markets starts from 7.45% p.a. It may vary depending on the lender, your credit score, income, and your chosen loan tenure.

What is the tenure range available for a ₹20 Lakh home loan?

On Bajaj Markets, you can choose a tenure of up to 32 years for a ₹20 Lakh home loan.

Can I get a ₹20 Lakh home loan with a low credit score?

Yes, you may still get a ₹20 Lakh home loan with a low credit score, but be prepared for some drawbacks:

Higher interest rates or stricter terms
Tougher approval process

What happens if I miss an EMI payment on my ₹20 Lakh home loan?

If you miss an EMI payment on your ₹20 Lakh home loan, the lender may charge a late fee, and your credit score can drop. If you keep missing payments, it could lead to legal action or your loan being marked as a default.

Can I get a joint home loan for ₹20 Lakhs?

Yes, you can get a joint home loan for ₹20 Lakhs. Applying with a spouse or family member can improve your loan eligibility, increase approval chances, and help you get better terms.

What is the minimum salary required for a ₹20 Lakh home loan?

You need a minimum monthly income of ₹25,000 to be eligible for a ₹20 lakh home loan on Bajaj Markets.

How to apply for a ₹20 Lakh home loan?

Bajaj Markets, you can easily apply for a ₹20 Lakh home loan at competitive interest rates. Here is how:

Click on the ‘Check Offers’ button on this page
Provide your basic personal details on the online application form
Enter the loan amount and preferred repayment tenure
Submit the form for verification

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