EMI for a Home Loan of ₹40 Lakhs

Knowing your monthly obligations is crucial to borrowing a home loan of ₹40 Lakhs. A viable tactic is to find the right tenure and other suitable terms through an EMI calculator.

The EMI amount and repayment tenure are inversely proportional. This is because longer tenures lead to lower monthly payments. However, this spreads the repayment period over a longer period, increasing your interest outgo. 

If the interest rate for a home loan of ₹40 Lakhs remains unchanged, you will pay less on interest charges with shorter tenure. Here’s a table to shed light on the relationship between EMI payable on a home loan of ₹40 Lakhs and tenures:

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

Check out the following table for the specifics of the EMI calculation for a home loan of ₹40 Lakhs with a 10-year repayment duration:

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

rHere are the details of the total interest charges and the amount payable as EMI for a home loan of ₹40 Lakhs for 20 years:

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

The following table presents the interest charges and the amount payable as EMI for a home loan of ₹40 Lakhs for 30 years:

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