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An ₹8 Lakh Home Loan can be an effective option for purchasing or renovating a property, particularly for first-time buyers in India. Understanding the ₹8 Lakh Home Loan EMI helps you plan your monthly budget, choose the right tenure, and keep your overall borrowing cost under control.
When you examine how your EMIs vary depending on the repayment tenure, it becomes simpler to select a repayment tenure that fits your budget. A longer tenure results in a lower monthly EMI, while a shorter tenure means higher monthly payments but a quicker loan payoff and potentially lower overall interest.
Below is an illustration of how the EMI for a ₹8 Lakh loan varies across different tenures. The monthly EMI will be highest for a 5-year term and lowest for a 30-year term, with total interest paid increasing as the loan tenure extends. Here's a closer look:
Loan Amount |
Interest Rate (p.a.) |
Tenure (years) |
EMI |
Total Interest (approx.) |
₹8,00,000 |
7.40% |
5 |
₹15,992 |
₹1,59,542 |
₹8,00,000 |
7.40% |
10 |
₹9,454 |
₹3,34,533 |
₹8,00,000 |
7.40% |
15 |
₹7,371 |
₹5,26,728 |
₹8,00,000 |
7.40% |
20 |
₹6,396 |
₹7,35,020 |
₹8,00,000 |
7.40% |
25 |
₹5,860 |
₹9,57,997 |
₹8,00,000 |
7.40% |
30 |
₹5,539 |
₹11,94,054 |
Disclaimer: The values shown in the table are indicative and may vary based on the lender’s terms, interest rate changes, and your eligibility.
Check out the details of the total interest charges and EMI for a home loan of ₹25 Lakhs for 10 years:
Loan Amount |
₹25 Lakhs |
Interest Rate |
9% p.a. |
Loan Tenure |
10 years |
EMI Payable |
₹31,669 |
Total Interest Payable |
₹13,00,273 |
Total Payable Amount |
₹38,00,273 |
Disclaimer: The details mentioned above are only indicative. Check the EMI payable before applying for a particular scheme.
The tables below use an interest rate of 7.40% per annum to show the approximate EMI per month and total interest payable for a ₹8 Lakh Home Loan. These figures are rounded estimates, and actual amounts may vary slightly depending on the lender and any rate adjustments:
Year |
Principal Loan Amount Paid |
Interest Paid |
EMI Amount Paid |
Balance Amount |
Loan Paid to Date (%) |
2026 |
₹1,37,303 |
₹54,605 |
₹1,91,908 |
₹7,67,634 |
20.00 |
2027 |
₹1,47,816 |
₹44,093 |
₹1,91,908 |
₹5,75,725 |
40.00 |
2028 |
₹1,59,133 |
₹32,776 |
₹1,91,908 |
₹3,83,817 |
60.00 |
2029 |
₹1,71,316 |
₹20,592 |
₹1,91,908 |
₹1,91,908 |
80.00 |
2030 |
₹1,84,432 |
₹7,476 |
₹1,91,908 |
0 |
100.00 |
Disclaimer: The figures are for illustration only and may change based on the actual loan amount, interest rate, and repayment schedule set by your lender.
Year |
Principal Loan Amount Paid |
Interest Paid |
EMI Amount Paid |
Balance Amount |
Loan Paid to Date (%) |
2026 |
₹56,132 |
₹57,322 |
₹1,13,453 |
₹10,21,080 |
10.00 |
2027 |
₹60,429 |
₹53,024 |
₹1,13,453 |
₹9,07,626 |
20.00 |
2028 |
₹65,056 |
₹48,397 |
₹1,13,453 |
₹7,94,173 |
30.00 |
2029 |
₹70,037 |
₹43,417 |
₹1,13,453 |
₹6,80,720 |
40.00 |
2030 |
₹75,399 |
₹38,054 |
₹1,13,453 |
₹5,67,266 |
50.00 |
2031 |
₹81,172 |
₹32,282 |
₹1,13,453 |
₹4,53,813 |
60.00 |
2032 |
₹87,386 |
₹26,067 |
₹1,13,453 |
₹3,40,360 |
70.00 |
2033 |
₹94,077 |
₹19,377 |
₹1,13,453 |
₹2,26,907 |
80.00 |
2034 |
₹1,01,279 |
₹12,174 |
₹1,13,453 |
₹1,13,453 |
90.00 |
2035 |
₹1,09,034 |
₹4,420 |
₹1,13,453 |
0 |
100.00 |
Disclaimer: The figures are for illustration only and may change based on the actual loan amount, interest rate, and repayment schedule set by your lender.
Year |
Principal Loan Amount |
Interest Paid |
EMI Amount Paid |
Balance Amount |
Loan Paid to Date (%) |
2026 |
₹30,261 |
₹58,187 |
₹88,449 |
₹12,38,279 |
6.67 |
2027 |
₹32,578 |
₹55,870 |
₹88,449 |
₹11,49,831 |
13.33 |
2028 |
₹35,072 |
₹53,376 |
₹88,449 |
₹10,61,382 |
20.00 |
2029 |
₹37,758 |
₹50,691 |
₹88,449 |
₹9,72,934 |
26.67 |
2030 |
₹40,648 |
₹47,800 |
₹88,449 |
₹8,84,485 |
33.33 |
2031 |
₹43,760 |
₹44,688 |
₹88,449 |
₹7,96,037 |
40.00 |
2032 |
₹47,111 |
₹41,338 |
₹88,449 |
₹7,07,588 |
46.67 |
2033 |
₹50,718 |
₹37,731 |
₹88,449 |
₹6,19,140 |
53.33 |
2034 |
₹54,601 |
₹33,848 |
₹88,449 |
₹5,30,691 |
60.00 |
2035 |
₹58,781 |
₹29,667 |
₹88,449 |
₹4,42,243 |
66.67 |
2036 |
₹63,282 |
₹25,167 |
₹88,449 |
₹3,53,794 |
73.33 |
2037 |
₹68,127 |
₹20,322 |
₹88,449 |
₹2,65,346 |
80.00 |
2038 |
₹73,342 |
₹15,106 |
₹88,449 |
₹1,76,897 |
86.67 |
2039 |
₹78,958 |
₹9,491 |
₹88,449 |
₹88,449 |
93.33 |
2040 |
₹85,003 |
₹3,446 |
₹88,449 |
0 |
100.00 |
Disclaimer: The figures are for illustration only and may change based on the actual loan amount, interest rate, and repayment schedule set by your lender.
Year |
Principal Loan Amount |
Interest Paid |
EMI Amount Paid |
Balance Amount |
Loan Paid to Date (%) |
2026 |
₹18,159 |
₹58,592 |
₹76,751 |
₹14,58,269 |
5.00 |
2027 |
₹19,549 |
₹57,202 |
₹76,751 |
₹13,81,518 |
10.00 |
2028 |
₹21,046 |
₹55,705 |
₹76,751 |
₹13,04,767 |
15.00 |
2029 |
₹22,657 |
₹54,094 |
₹76,751 |
₹12,28,016 |
20.00 |
2030 |
₹24,392 |
₹52,359 |
₹76,751 |
₹11,51,265 |
25.00 |
2031 |
₹26,259 |
₹50,492 |
₹76,751 |
₹10,74,514 |
30.00 |
2032 |
₹28,270 |
₹48,481 |
₹76,751 |
₹9,97,763 |
35.00 |
2033 |
₹30,434 |
₹46,317 |
₹76,751 |
₹9,21,012 |
40.00 |
2034 |
₹32,764 |
₹43,987 |
₹76,751 |
₹8,44,261 |
45.00 |
2035 |
₹35,273 |
₹41,479 |
₹76,751 |
₹7,67,510 |
50.00 |
2036 |
₹37,973 |
₹38,778 |
₹76,751 |
₹6,90,759 |
55.00 |
2037 |
₹40,880 |
₹35,871 |
₹76,751 |
₹6,14,008 |
60.00 |
2038 |
₹44,010 |
₹32,741 |
₹76,751 |
₹5,37,257 |
65.00 |
2039 |
₹47,380 |
₹29,371 |
₹76,751 |
₹4,60,506 |
70.00 |
2040 |
₹51,007 |
₹25,744 |
₹76,751 |
₹3,83,755 |
75.00 |
2041 |
₹54,912 |
₹21,839 |
₹76,751 |
₹3,07,004 |
80.00 |
2042 |
₹59,117 |
₹17,634 |
₹76,751 |
₹2,30,253 |
85.00 |
2043 |
₹63,643 |
₹13,108 |
₹76,751 |
₹1,53,502 |
90.00 |
2044 |
₹68,515 |
₹8,236 |
₹76,751 |
₹76,751 |
95.00 |
2045 |
₹73,761 |
₹2,990 |
₹76,751 |
0 |
100.00 |
Disclaimer: The figures are for illustration only and may change based on the actual loan amount, interest rate, and repayment schedule set by your lender.
Year |
Principal Loan Amount |
Interest Paid |
EMI Amount Paid |
Balance Amount |
Loan Paid to Date (%) |
2026 |
₹11,505 |
₹58,815 |
₹70,320 |
₹16,87,677 |
4.00 |
2027 |
₹12,386 |
₹57,934 |
₹70,320 |
₹16,17,358 |
8.00 |
2028 |
₹13,334 |
₹56,986 |
₹70,320 |
₹15,47,038 |
12.00 |
2029 |
₹14,355 |
₹55,965 |
₹70,320 |
₹14,76,718 |
16.00 |
2030 |
₹15,454 |
₹54,866 |
₹70,320 |
₹14,06,398 |
20.00 |
2031 |
₹16,637 |
₹53,683 |
₹70,320 |
₹13,36,078 |
24.00 |
2032 |
₹17,911 |
₹52,409 |
₹70,320 |
₹12,65,758 |
28.00 |
2033 |
₹19,282 |
₹51,038 |
₹70,320 |
₹11,95,438 |
32.00 |
2034 |
₹20,758 |
₹49,561 |
₹70,320 |
₹11,25,118 |
36.00 |
2035 |
₹22,348 |
₹47,972 |
₹70,320 |
₹10,54,798 |
40.00 |
2036 |
₹24,059 |
₹46,261 |
₹70,320 |
₹9,84,478 |
44.00 |
2037 |
₹25,901 |
₹44,419 |
₹70,320 |
₹9,14,159 |
48.00 |
2038 |
₹27,884 |
₹42,436 |
₹70,320 |
₹8,43,839 |
52.00 |
2039 |
₹30,019 |
₹40,301 |
₹70,320 |
₹7,73,519 |
56.00 |
2040 |
₹32,317 |
₹38,003 |
₹70,320 |
₹7,03,199 |
60.00 |
2041 |
₹34,791 |
₹35,529 |
₹70,320 |
₹6,32,879 |
64.00 |
2042 |
₹37,455 |
₹32,865 |
₹70,320 |
₹5,62,559 |
68.00 |
2043 |
₹40,323 |
₹29,997 |
₹70,320 |
₹4,92,239 |
72.00 |
2044 |
₹43,410 |
₹26,910 |
₹70,320 |
₹4,21,919 |
76.00 |
2045 |
₹46,733 |
₹23,587 |
₹70,320 |
₹3,51,599 |
80.00 |
2046 |
₹50,311 |
₹20,009 |
₹70,320 |
₹2,81,280 |
84.00 |
2047 |
₹54,163 |
₹16,157 |
₹70,320 |
₹2,10,960 |
88.00 |
2048 |
₹58,310 |
₹12,010 |
₹70,320 |
₹1,40,640 |
92.00 |
2049 |
₹62,774 |
₹7,546 |
₹70,320 |
₹70,320 |
96.00 |
2050 |
₹67,581 |
₹2,739 |
₹70,320 |
0 |
100.00 |
Disclaimer: The figures are for illustration only and may change based on the actual loan amount, interest rate, and repayment schedule set by your lender.
Year |
Principal Loan Amount |
Interest Paid |
EMI Amount Paid |
Balance Amount |
Loan Paid to Date (%) |
2026 |
₹7,520 |
₹58,948 |
₹66,468 |
₹19,27,585 |
3.33 |
2027 |
₹8,096 |
₹58,373 |
₹66,468 |
₹18,61,117 |
6.67 |
2028 |
₹8,716 |
₹57,753 |
₹66,468 |
₹17,94,648 |
10.00 |
2029 |
₹9,383 |
₹57,085 |
₹66,468 |
₹17,28,180 |
13.33 |
2030 |
₹10,101 |
₹56,367 |
₹66,468 |
₹16,61,712 |
16.67 |
2031 |
₹10,875 |
₹55,594 |
₹66,468 |
₹15,95,243 |
20.00 |
2032 |
₹11,707 |
₹54,761 |
₹66,468 |
₹15,28,775 |
23.33 |
2033 |
₹12,604 |
₹53,865 |
₹66,468 |
₹14,62,306 |
26.67 |
2034 |
₹13,569 |
₹52,900 |
₹66,468 |
₹13,95,838 |
30.00 |
2035 |
₹14,608 |
₹51,861 |
₹66,468 |
₹13,29,369 |
33.33 |
2036 |
₹15,726 |
₹50,743 |
₹66,468 |
₹12,62,901 |
36.67 |
2037 |
₹16,930 |
₹49,539 |
₹66,468 |
₹11,96,432 |
40.00 |
2038 |
₹18,226 |
₹48,242 |
₹66,468 |
₹11,29,964 |
43.33 |
2039 |
₹19,622 |
₹46,847 |
₹66,468 |
₹10,63,495 |
46.67 |
2040 |
₹21,124 |
₹45,345 |
₹66,468 |
₹9,97,027 |
50.00 |
2041 |
₹22,741 |
₹43,727 |
₹66,468 |
₹9,30,558 |
53.33 |
2042 |
₹24,482 |
₹41,986 |
₹66,468 |
₹8,64,090 |
56.67 |
2043 |
₹26,357 |
₹40,112 |
₹66,468 |
₹7,97,622 |
60.00 |
2044 |
₹28,375 |
₹38,094 |
₹66,468 |
₹7,31,153 |
63.33 |
2045 |
₹30,547 |
₹35,922 |
₹66,468 |
₹6,64,685 |
66.67 |
2046 |
₹32,886 |
₹33,583 |
₹66,468 |
₹5,98,216 |
70.00 |
2047 |
₹35,403 |
₹31,065 |
₹66,468 |
₹5,31,748 |
73.33 |
2048 |
₹38,114 |
₹28,354 |
₹66,468 |
₹4,65,279 |
76.67 |
2049 |
₹41,032 |
₹25,436 |
₹66,468 |
₹3,98,811 |
80.00 |
2050 |
₹44,174 |
₹22,295 |
₹66,468 |
₹3,32,342 |
83.33 |
2051 |
₹47,556 |
₹18,913 |
₹66,468 |
₹2,65,874 |
86.67 |
2052 |
₹51,197 |
₹15,272 |
₹66,468 |
₹1,99,405 |
90.00 |
2053 |
₹55,116 |
₹11,352 |
₹66,468 |
₹1,32,937 |
93.33 |
2054 |
₹59,336 |
₹7,132 |
₹66,468 |
₹66,468 |
96.67 |
2055 |
₹63,879 |
₹2,589 |
₹66,468 |
0 |
100.00 |
Disclaimer: The figures are for illustration only and may change based on the actual loan amount, interest rate, and repayment schedule set by your lender.
Understanding how EMI works helps you take control of your finances and avoid unpleasant surprises during repayment. Rather than solely relying on an online EMI calculator, it’s useful to know the formula since your loan amount, interest rate and tenure together determine your monthly outgo and overall cost.
The standard formula to calculate EMI is:
EMI = [P × r × (1 + r)^N] / [(1 + r)^N − 1]
Where:
P = Principal amount (loan amount)
N = Total number of monthly instalments (tenure in months)
Example (₹8 Lakh loan at 7.40% p.a.)
Loan amount (P) = ₹8,00,000
Annual interest rate = 7.40% → Monthly rate (r) ≈ 7.40 ÷ 12 ÷ 100 = 0.006167
Suppose you choose a tenure of 5 years: then N = 5 × 12 = 60
Plug these values into the formula to compute the monthly EMI (which includes both principal and interest). Over the entire loan tenure, your total repayment will be EMI × N. From which, subtracting the principal gives you the total interest paid.
Performing this manual calculation lets you clearly see how changes in loan amount, interest rate or tenure impact your EMI and total cost. This insight can help you plan your home loan repayment more effectively.
Review the loan terms, rates of interest, and features from various home loan providers to choose the option that aligns with your budget and financial objectives. Have a closer look below at some of the top lenders offering housing loans through Bajaj Markets:
Lender |
Maximum Loan Amount |
Minimum Interest Rate |
Maximum Tenure |
Processing Fee |
₹15 Crores |
7.40% p.a. |
32 Years |
Up to 4% of the loan amount (plus applicable GST) |
|
₹35 Lakhs |
9.00% p.a. |
20 Years |
₹9,990 to ₹24,990 (plus applicable GST) |
|
₹5 Crores |
9.00% p.a. |
30 Years |
₹2,999 (plus applicable charges) |
|
₹40 Lakhs |
13.00% p.a. |
20 Years |
Up to 3% of the loan amount (plus applicable GST) |
|
₹7.5 Crores |
8.60% p.a. |
25 Years |
Up to 3% of the loan amount (plus applicable GST) |
|
₹15 Crores |
8.65% p.a. |
30 Years |
0.25% of the loan amount, up to ₹50,000 (plus GST) |
|
₹15 Crores |
8.50% p.a. |
30 Years |
Up to 0.50% of the loan amount (plus applicable GST) |
|
₹5 Crores |
8.75% p.a. |
30 Years |
Up to 1% of the loan amount (plus applicable GST) |
|
₹1 Crores |
11.50% p.a. |
25 Years |
Up to 2.5% of the loan amount (plus applicable GST) |
|
₹50 Lakhs |
9.90% p.a. |
25 Years |
₹27,000 plus up to 3% of the loan amount (plus applicable GST) |
|
₹25 Lakhs |
12.00% p.a. |
12 Years |
2% of the sanctioned loan value, along with applicable GST |
|
₹50 Lakhs |
9.50% p.a. |
30 Years |
0.75% of the loan amount (plus applicable GST) |
|
₹50 Lakhs |
10.50% p.a. |
20 Years |
1.5% to 2.5% of the loan amount (plus applicable GST) |
Disclaimer: Interest rates and loan terms are subject to change based on the lender’s policies and prevailing market conditions.
The EMI for a ₹8 Lakh Home Loan will depend on your chosen tenure and interest rate. For example, at 7.40% p.a. over a 20‑year tenure, the EMI would be roughly ₹6,400 per month. Consider using the Home Loan EMI calculator on Bajaj Markets to get precise figures for other tenure options.
Eligibility for an ₹8 Lakh Home Loan depends on your age, income, employment type, existing obligations, and credit score. Lenders also consider property value and may require a minimum loan-to-value margin contribution from your side.
Typical documents include identity proof, address proof, income proofs like salary slips or IT returns, bank statements, and property-related documents. Some lenders may additionally ask for employment continuity proof or business financials for self-employed applicants.
Interest rates on an ₹8 Lakh Home Loan in India usually start at 7.40%, depending on lender and profile. Borrowers with strong credit and stable income generally get rates near the lower end of this band.
Home loan tenures commonly start from 5 years and can go up to 32 years with many lenders. Some institutions may allow slightly shorter or longer tenures in special cases, subject to age and policy.
A low credit score makes approval harder and may lead to higher interest rates and stricter terms. Some lenders may still consider your application if you show strong income, offer a guarantor, or add a co-applicant.
Missing an EMI usually attracts late payment charges and additional interest on the overdue amount. Repeated delays can hurt your credit score and may trigger recovery actions if not resolved quickly with the lender.
Yes, most lenders allow joint home loans with eligible co-applicants such as a spouse or close family members. A joint loan can improve eligibility and raise the sanctioned amount by combining incomes, which may also help secure better terms.
Many lenders check your EMI‑to‑income ratio to ensure the loan is affordable. Suppose your monthly take‑home pay is ₹60,000, and you want to keep your EMI at or below 35% of that income. In that case, your EMI should not exceed about ₹21,000 per month. Based on that EMI amount, you can estimate the approximate loan amount you might qualify for, depending on the interest rate and tenure.
You can apply for an ₹8 Lakh Home Loan online on Bajaj Markets, or visit a branch. Fill the application form, upload or submit documents, undergo verification, and await sanction before signing the agreement and completing disbursal formalities.