BAJAJ FINSERV DIRECT LIMITED

₹75 Lakh Home Loan EMI

Know more about the EMIs payable on home loans of ₹75 Lakhs

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Your Monthly Loan EMI
₹ 92,989
Total Interest
₹ 3,658,712
Principal Amount
₹ 75,00,000
Total Payable Amount
₹ 1
Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
- +
Min value reached
Max value reached

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

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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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Are you planning to take a home loan of ₹75 Lakhs? Planning your repayment and assessing whether the monthly instalment amount for the loan falls within your budget, are crucial steps in this process. Factors like home loan interest rate and tenure directly affect the monthly instalments payable.

EMI for a Home Loan of ₹75 Lakhs for Various Tenures

Choosing the right home loan repayment tenure for a ₹75 Lakh loan is pivotal. Let’s understand how the set tenure affects your home loan EMIs with the help of an example. Assume that you are offered an interest rate of 8.50% p.a. Here is how the monthly instalment would differ over tenures ranging from 10 to 30 years:

Tenure

EMI

10 years

₹92,989

15 years

₹73,855

20 years

₹65,086

25 years

₹60,392

30 years

₹57,668

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

Let’s understand how this change in tenure affects your overall loan repayment with the help of the same example.

Detailed Breakup of Home Loan of ₹75 Lakhs for 10 Years

Opting for a shorter tenure like that of 10 years leads to higher EMIs but reduces total interest payments. Here’s how:

Loan Amount

₹75 Lakhs

Interest Rate

8.50% p.a.

Loan Tenure

10 Years

EMI

₹92,989

Total Interest

₹36,58,712

Total Repayment Amount

₹1,11,58,712

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

Detailed Breakup of Home Loan of ₹75 Lakhs for 20 Years

With a 20-year tenure, EMIs become more affordable, striking a balance between repayment and financial strain. The details are as follows:

Loan Amount

₹75 Lakhs

Interest Rate

8.50% p.a.

Loan Tenure

20 Years

EMI

₹65,087

Total Interest

₹81,20,818

Total Repayment Amount

₹1,56,20,818

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

Detailed Breakup of Home Loan of ₹75 Lakhs for 30 Years

Extending the repayment tenure to 30 years results in the lowest EMIs, offering financial flexibility. This is visible in the table below:

Loan Amount

₹75 Lakhs

Interest Rate

8.50% p.a.

Loan Tenure

30 Years

EMI

₹57,669

Total Interest

₹1,32,60,664

Total Repayment Amount

₹2,07,60,664

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

Lenders Offering Home Loans of ₹75 Lakhs

Lenders

Starting Interest Rate

PNB Housing Finance

8.50% p.a.

Bajaj Housing Finance Limited

8.55% p.a.

LIC Housing Finance

8.65% p.a.

ICICI Bank

9.00% p.a.

Shriram Housing Finance

11.50% p.a.

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

Eligibility Criteria & Documents Required for a ₹75 Lakh Home Loan

Here are some common eligibility criteria you should know about when applying for a home loan of ₹75 Lakhs:

  • You must be an Indian citizen and resident

  • For self-employed applicants

    • Your age should be between 25 and 70 years 

    • The business vintage must be at least 5 years

  • For salaried applicants

    • Your age should be between 23 and 62 years

    • You must have a work experience at least 3 years

Alongside this, you will also be asked to provide the following documents:

  • KYC documents:

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

    • Address proof: Aadhaar card, passport, utility bills, etc.

  • Income proof: 

  • For Salaried:

    • Form 16

    • ITR filings of the previous 2 years

    • Salary slips of the previous 3 months

  • For Self-employed: 

    • Certificates proving their qualification for self-employed professionals

    • TDS certificate

    • Business licence details

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

    • Profit and loss statement of the previous 3 years

    • ITR filings of the previous 2 years

Frequently Asked Questions

What is the EMI for a home loan of ₹75 Lakhs?

The EMI for a home loan of ₹75 Lakhs depends on the interest rate and tenure. Assuming you want to repay it over a tenure of 30 years at 8.50% p.a. interest, your EMI will be ₹57,669. If you take the same amount of loan for 20 years at 9% interest, your EMI will be ₹67,479.

No, the home you plan to purchase is considered as security for the loan.

Usually, 40 years is the maximum repayment tenure. Keep in mind that you must be eligible for this tenure based on your age and other criteria.

Usually, lenders require you to have a minimum salary of at least ₹25,000 to qualify for a home loan of ₹75 Lakhs. However, this criterion may vary from one lender to another, depending on their policies. Thus, it is essential to have a stable and higher income to improve your chances of being eligible for a home loan of ₹75 Lakhs.

You can get a home loan of ₹75 Lakhs quite easily on Bajaj Markets. Just click on ‘CHECK OFFER’, provide the basic information requested, and choose your preferred lender to get started. 

Yes. You can get a joint home loan of ₹75 Lakhs with your spouse. However, do note that their income, credit score, and other factors will also be evaluated to determine your eligibility for the joint loan.

Yes. While the loan terms may not be as favourable, you can still get a home loan of ₹75 Lakhs with a low credit score. For more details on this, reach out to your lender and discuss your financial situation and history prior to applying. 

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