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₹35 Lakh Home Loan EMI

Learn about how the EMIs on your home loan of ₹35 Lakhs are calculated

...

 

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Your Monthly Loan EMI
₹ 41,454
Total Interest

₹ 1,474,521

Principal Amount

₹ 35,00,000

Total Payable Amount

₹ 49,74,521

Loan Amount i
Interest Rate
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Min value reached
Max value reached
Tenure
Months arrow-down-img
  • Years
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Check Eligibility

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

...

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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Just like you plan the look of your dream home, figuring out how to repay your ₹35 Lakh home loan is crucial. Knowing how your EMIs work helps you make smart money decisions and handle your budget well. This is key to managing your finances wisely, getting the required loan, and handling the repayment effortlessly.

EMI for a Home Loan of ₹35 Lakhs for Various Tenures

To understand this better, consider the following example. Assume that the interest rate charged on the loan is 9% p.a. Here’s how your EMIs and repayment costs may differ over 10, 15, 20, 25, and 30-year tenures:

Tenure

EMI

10 years

₹44,336

15 years

₹35,499

20 years

₹31,490

25 years

₹29,372

30 years

₹28,162

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

Detailed Breakup of Home Loan of ₹35 Lakhs for 10 Years

Here is a breakdown of the loan costs for a home loan of ₹35 Lakhs over a 10-year tenure:

Loan Amount

₹35 Lakhs

Interest Rate

9% p.a.

Loan Tenure

10 Years

EMI

₹44,336

Total Interest

₹18,20,382

Total Repayment Amount

₹53,20,382

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

Detailed Breakup of Home Loan of ₹35 Lakhs for 20 Years

If the tenure is increased to 20 years, the EMI amount will decrease. Here are the details:

Loan Amount

₹35 Lakhs

Interest Rate

9% p.a.

Loan Tenure

20 Years

EMI

₹31,490

Total Interest

₹40,57,698

Total Repayment Amount

₹75,57,698

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

Detailed Breakup of Home Loan of ₹35 Lakhs for 30 Years

Provided below is the EMI and total repayment amount for a home loan of ₹35 Lakhs with a 30-year tenure:

Loan Amount

₹35 Lakhs

Interest Rate

9% p.a.

Loan Tenure

30 Years

EMI

₹28,161

Total Interest

₹66,38,244

Total Repayment Amount

₹1,01,38,244

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

Lenders Offering Home Loans of ₹35 Lakhs

Lenders

Starting Interest Rate

PNB Housing Finance

8.50% p.a.

Union Bank of India

8.50% p.a.

Bajaj Housing Finance Limited

7.45% p.a.

L&T Finance

8.60% p.a.

LIC Housing Finance

8.65% p.a.

ICICI Bank

9.00% p.a.

Home First Finance Company

9.00% p.a.

Shubham Housing Finance

9.90% p.a.

Shriram Housing Finance

11.50% p.a.

India Shelter

13.00% p.a.

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

Eligibility Criteria & Documents Required for a ₹35 Lakh Home Loan

Here is a list of some requirements you must fulfil to be eligible for a home loan of ₹35 Lakhs:

  • For salaried applicants

    • Age: 23 to 62 years

    • Work experience: At least 3 years

  • For self-employed applicants

    • Age: 25 to 70 years 

    • Business vintage: At least 5 years

Additionally, you should be a citizen and resident of India. Furthermore, the lender may ask you to provide the documents listed below:

  • Proof of Address: Aadhaar card, passport, utility bills, etc.

  • Proof of Identity: Aadhaar card, PAN card, voter ID, driving licence, etc.

  • Proof of Income:

    •  

    • For Self-employed: 

      • Business licence details

      • TDS certificate

      • Profit and loss statement of the previous 3 years

      • ITR filings of the previous 2 years

      • Latest balance sheet of the business, audited by a certified CA

      • Certificates proving their qualification for self-employed professionals

    • For Salaried: 

      • Form 16

      • Salary slips of the previous 3 months

      • ITR filings of the previous 2 years

Frequently Asked Questions

Can I get a ₹35 Lakh home loan without any security?

No, security is required for a home loan since it is a secured loan.

For a ₹35 Lakh home loan, the maximum tenure is 30 years. However, your repayment tenure depends on your eligibility. Lenders are likely to offer the maximum tenure so that the EMI of a ₹35 Lakh home loan will not be more than 60% of your monthly income.

This varies from lender to lender. However, in general, you can get a home loan of ₹35 Lakhs with a monthly salary of around ₹42,000.

Depending on how well you meet the other criteria, the lender may be willing to offer a home loan of ₹35 Lakhs. However, the interest rate of the loan may be higher while the tenure offered may be shorter.

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