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.
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.
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.
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.
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.
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.
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.
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
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
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.
On Bajaj Markets, you can choose a tenure of up to 32 years for a ₹20 Lakh home loan.
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
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.
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.
You need a minimum monthly income of ₹25,000 to be eligible for a ₹20 lakh home loan on Bajaj Markets.
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