Learn how EMI varies for a home loan of ₹85 Lakhs over different tenures.
Knowing the ₹85 Lakh home loan EMI will help you understand how your home loan repayment will impact your monthly cash flow. This allows you to assess loan affordability and find ways to reduce loan costs. A well-planned EMI schedule keeps your finances on track.
EMIs for ₹85 Lakh home loan differ significantly based on the loan terms. A detailed comparison helps you optimise both your monthly budget and total repayment.
The following table gives you EMI for an ₹85 Lakh home loan at 9.25% p.a. for different tenures:
Repayment Tenure |
EMI Amount |
10 Years |
₹1,08,828 |
20 Years |
₹77,848 |
25 Years |
₹72,792 |
30 Years |
₹69,927 |
Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.
Understand the EMI for a home loan of ₹85 Lakhs for 10 years and total interest charges from the table below:
Loan Amount |
₹85 Lakhs |
Interest Rate |
9.25% p.a. |
Loan Tenure |
10 years |
EMI Payable |
₹1,08,828 |
Total Interest Payable |
₹45,59,338 |
Total Payable Amount |
₹1,30,59,338 |
Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.
The loan costs and EMI for an ₹85 Lakh home loan when the loan tenure is 20 years will be:
Loan Amount |
₹85 Lakhs |
Interest Rate |
9.25% p.a. |
Loan Tenure |
20 years |
EMI Payable |
₹ 77,848 |
Total Interest Payable |
₹ 1,01,83,683 |
Total Payable Amount |
₹ 1,86,83,683 |
Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.
The home loan of ₹85 Lakhs is as follows for a 30-year tenure:
Loan Amount |
₹85 Lakhs |
Interest Rate |
9.25% p.a. |
Loan Tenure |
30 years |
EMI Payable |
₹69,927 |
Total Interest Payable |
₹1,66,73,868 |
Total Payable Amount |
₹2,51,73,868 |
Disclaimer: The figures mentioned in the above table are indicative. It is imperative to check the actual payable EMIs before applying.
Bajaj Markets has partnered with the following leading lenders to offer ₹85 Lakh home loans:
Lenders |
Starting Interest Rate |
PNB Housing Finance |
8.50% p.a. |
L&T Finance |
8.60% p.a. |
LIC Housing Finance |
8.85% p.a. |
Home First Finance Company |
9.00% p.a. |
ICICI Bank |
9.00% p.a. |
Shriram Housing Finance |
11.50% p.a. |
Disclaimer: The mentioned rates are subject to change at the lender’s discretion.
Ensure you meet the eligibility criteria before applying for a ₹85 Lakh home loan. Eligibility requirements could differ depending on the lender. Lenders evaluate various factors given below to determine whether you qualify.
For Salaried Individuals:
Aged between 23 and 62 years
Must have at least 3 years of continuous employment
A steady annual income
A good credit score
For Self-Employed Applicants:
Must be between 25 and 70 years
Business operations should have been stable for more than 5 years
Annual income suitable for repayment
Documents Common to All Borrowers:
Identity Proof: Valid documents are a PAN card, Aadhaar card, passport, or driving licence
Address Proof: Present all utility bills, lease agreements, or other official proofs of your residence
Banking Documents: Show the last 6 to 12 months' bank statements to indicate a steady financial position
Property Papers: Include any owner proof, sale deeds, and agreements connected to the property
Photos: Passport-sized photographs may need to be attached along with your application
Loan Application: A loan application must be filled out with accurate details
Proof of Income Documents
For Salaried Individuals:
Attach payslips for the previous 3 to 6 months
Attach Form 16 or its photocopies of Income Tax Returns - ITR that have been issued recently
For the Self-Employed:
Profits and loss statements for the recent year
Attach audit reports of the past 2-3 years
Attach copies of the latest ITR
Lenders consider multiple factors like income, repayment capacity, credit score, property value, and financial stability before approving ₹85 Lakh home loans. You must contact the lender and understand the eligibility criteria to get approved.
The ideal EMI for you depends on your ability to repay and other financial commitments you have. So, the ideal tenure for a ₹85 Lakh home loan must be determined based on your budget. Longer tenures, such as 30 years, have smaller EMIs, and they can be more manageable on a monthly basis. However, it can result in higher total loan costs.
Lenders can offer up to 30 years tenure for ₹85 Lakh home loan. However, it depends on your age and the lender's other requirements.
The EMI for a ₹85 Lakh home loan can be determined if you know the home loan tenure and interest rate. Considering an interest rate of 9.25% p.a., the EMI for a home loan with a 30-year tenure will be ₹ approximately.
The interest rate you get for your ₹85 Lakh home loan for 20 years is crucial to calculate EMI. If the interest rate is 9.25% p.a., the EMI will be around ₹77,848, and if the interest rate is 9.5%, the EMI will be around ₹79,231.