This depends on the interest rate levied by the lender. For instance, if it is 10% p.a., the EMI will be ₹33,038, but if it is 9% p.a., the amount will be ₹31,669.
The repayment amount will vary depending on the interest rate offered. Generally, higher rates will result in higher amounts and vice-versa. For instance, if the rate is 10% p.a., the amount will be ₹24,126 but if the rate is 9% p.a., the amount will be ₹22,493.
The EMI for a home loan of ₹25 Lakhs for 15 years will depend on the interest offered by the lender. Suppose the interest rate is 10% p.a., then the EMI will be ₹24,126 but if the interest rate is 9.5% p.a., the EMI will be ₹23,303.
You can apply for a home loan of ₹25 Lakhs even with a low credit score. As it is a secured loan, the credit score requirement is lenient compared to unsecured loans. However, a low score may lead to higher interest rates and unfavourable repayment terms.
You can use the home loan EMI calculator to check the amortisation schedule based on the loan terms offered to you. The schedule gives you a complete breakdown of your EMIs and details of the gradual repayment of the loan as the tenure progresses. You can utilise these insights to create an effective repayment strategy that suits your financial situation.