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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. Read on to discover how a ₹75 Lakh home loan EMI calculator can assist you in making informed decisions.

EMI Calculations for a Home Loan of ₹75 Lakhs with Varying Tenures

Choosing the ideal home loan repayment tenure for a ₹75 Lakh loan is pivotal, affecting the EMI amount. One of the most important factors that affect your loan is the tenure. The longer the duration of the loan, the lower the EMI amount. However, long tenures lead to higher interest costs. 


Thus it is essential to select a loan term that aligns with your requirements. Using the EMI calculator provides instant and error-free results that enable you to budget better and make financially wise decisions.

₹75 Lakhs Home Loan EMI Calculator

Loan Amount
Tenure
Months
Rate of Interest
Home Loan
Your Monthly Home Loan EMI
Principle Amount
Total Interest
Total Amount Payable
Amortization Schedule
Download Amortization Schedule Download
Expand Amortization Schedule
Year EMI Principal Interest Balance

A Home Loan EMI calculator is an algorithm-based tool that can help you get instant estimates of your house loan EMI amount. All you need to do is enter your loan amount, expected interest rate, and preferred repayment tenure.

 

The online tool will show you your overall EMI outflow within seconds. A housing loan calculator can also help you compare loan options by simply altering the numbers you fed into the tool originally. This way, you will be able to decide which offer suits you the best.

EMI on Home Loan of ₹75 Lakhs for 10 Years

Let us understand how the loan tenure affects your home loan EMIs better. For this, assume that you are offered an interest rate of 8.50% p.a. Opting for a shorter tenure like that of 10 years leads to higher EMIs but reduces total interest payments. Here’s how:

EMI

₹92,989

Total Interest

₹36,58,712

Total Repayment Amount

₹1,11,58,712

EMI on 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:

EMI

₹65,087

Total Interest

₹81,20,818

Total Repayment Amount

₹1,56,20,818

EMI on 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:

EMI

₹57,669

Total Interest

₹1,32,60,664

Total Repayment Amount

₹2,07,60,664

Lenders Offering Home Loans of ₹75 Lakhs

On Bajaj Markets, explore various lending partners and compare options to get a home loan of ₹75 Lakhs at favourable rates and terms:

Lender

Interest Rate

Max. Loan Amount and Tenure

Bajaj Housing Finance

8.50% p.a.

  • Amount: ₹5 Crores

  • Tenure: 40 years

ICICI Bank

9.00% p.a.

  • Amount: ₹5 Crores

  • Tenure: 30 years

LIC Housing Finance

8.65% p.a.

  • Amount: ₹15 Crores

  • Tenure: 30 years

PNB Housing Finance

8.50% p.a.

  • Amount: ₹15 Crores

  • Tenure: 30 years

Shriram Housing Finance

11.50% p.a.

  • Amount: ₹1 Crore

  • Tenure: 25 years

Union Bank of India 

8.50% p.a.

  • Amount: ₹15 Crores

  • Tenure: 30 years

*Disclaimer: The aforementioned details and charges are subject to change at the lender’s discretion.

 

Before applying for such loans, assess your eligibility based on lender-specific criteria, for a hassle-free application process. Check the documents required, including identity proof, address proof, income proof, and asset-related documents.

FAQs

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.

Can I get a home loan of ₹75 Lakhs without any security?

No, the home you plan to purchase as security for financing.

What is the maximum repayment tenure I can opt for when I apply for a home loan of ₹75 Lakhs?

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.

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