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₹20 Lakh Loan Against Property

Discover the EMI options available at Bajaj Markets for a ₹20 Lakh loan against property and manage all your financial requirements with ease
Your Monthly Loan EMI

₹ 25,880

Total Interest

₹ 1,105,541

Principal Amount

₹ 20,00,000

Total Payable Amount

₹ 31,05,541

Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
Months arrow-down-img
  • Years
- +
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You can easily compare Loan Against Property (LAP) offers from multiple lenders on Bajaj Markets.

...

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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To meet a variety of big-ticket expenses, you can consider a loan against property. This type of loan allows you to leverage the value of your property as collateral to secure funds for various needs. This may include business expansion, overseas education, a destination wedding or medical emergencies. 

On Bajaj Markets, you can get a loan of up to ₹20 Lakhs or more against your property with ease. Benefit from competitive interest rates, flexible EMIs, extended tenures, and instant approval on your application. 

To calculate the EMI on a ₹20 Lakh loan against property, you can use online loan calculators for free and make a well-informed borrowing decision. 

EMIs for a Loan Against Property of ₹20 Lakhs at Varying Tenures

The duration of repayment plays a crucial role in determining the final amount you will pay. Choosing a longer tenure can lower your monthly instalments, but keep in mind that it could result in paying more interest over time.

Check out the EMI amount for a ₹20 Lakh Loan Against Property (LAP) for varying tenures at an interest rate of 9.50% p.a.:

Loan Amount

Tenure 

EMI Value

₹20 Lakhs

5 years

₹42,004

₹20 Lakhs

10 years

₹25,880

₹20 Lakhs

15 years

₹20,884

₹20 Lakhs

20 years

₹18,643

₹20 Lakhs

25 years

₹17,474

₹20 Lakhs

30 years

₹16,817

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

Detailed Repayment Breakup of Loan Against Property of ₹20 Lakhs for 10 Years

If you are considering a ₹20 Lakh loan by pledging your property, carefully evaluate the EMI amounts based on the interest rates and loan tenure. Here is a breakdown of a 10-year loan using a ₹20 Lakh LAP EMI calculator:

Loan Amount

₹20 Lakhs

Interest Rate

9.50% p.a.

Loan Tenure

10 years

EMI Payable

₹25,880

Total Interest Payable 

₹11,05,541

Total Payable Amount

₹31,05,541

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

Detailed Repayment Breakup of Loan Against Property of ₹20 Lakhs for 15 Years

Here is a detailed breakdown of the EMI amount, interest, and amount payable for a ₹20 Lakh home loan against property with a 15-year tenure:

Loan Amount 

₹20 Lakhs

Interest Rate 

9.50% p.a.

Loan Tenure

15 years

EMI Payable 

₹20,884

Total Interest Payable

₹17,59,209

Total Payable Amount 

₹37,59,209

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

Detailed Repayment Breakup of Loan Against Property of ₹20 Lakhs for 20 Years

Taking a ₹20 Lakh loan against property for 20 years will reduce your monthly EMI compared to a 10-year term. Refer to the table below to understand the repayment structure:

Loan Amount 

₹20 Lakhs

Interest Rate 

9.50% p.a.

Loan Tenure

20 years

EMI Payable 

₹18,643

Total Interest Payable

₹24,74,230

Total Payable Amount 

₹44,74,230

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

Detailed Repayment Breakup of Loan Against Property of ₹20 Lakhs for 30 Years

A 30-year loan tenure offers a longer repayment period, making the EMIs more manageable. Here is a detailed cost breakdown for this tenure:

Loan Amount

₹20 Lakhs

Interest Rate

9.50% p.a.

Loan Tenure

30 years

EMI Payable

₹16,817

Total Interest Payable 

₹40,54,150

Total Payable Amount

₹60,54,150

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

Lenders Offering Loan Against Property of ₹20 Lakhs

Comparing ₹20 Lakh loans against property from various lenders on Bajaj Markets can help you secure competitive interest rates. You can also receive instant approval on your application and select a flexible tenure according to your preferences.

Explore the interest rates that some partner lenders offer on the plaand find the one that aligns with your requirements:

Financial Institution

Minimum Interest Rate (p.a.)

Aditya Birla Finance

10.50% 

Bajaj Housing Finance

9.75% 

Home First Finance Company

14.00% 

Sammaan Finserve

9.75% 

ICICI Bank

10.60% 

India Shelter

15% 

L&T Finance

9.60% 

LIC Housing Finance

9.45% 

PNB Housing Finance

9.25% 

Shubham Housing Finance

13.90% 

Shriram Housing Finance

14.75% 

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

Eligibility Criteria and Documents Required for a ₹20 Lakh Loan Against Property

Ensure you review the eligibility and document requirements before proceeding with your application. To apply for a loan against property with Bajaj Markets, meet the following eligibility criteria:

  • You must have a minimum monthly income of ₹30,000

  • Your age should be between 21 and 70 years

  • You must have at least 1 year of work experience if salaried, or 2 years if self-employed

Once you qualify for loan, submit the following documents to apply:

For Salaried Individuals:

  • Address Proof: Aadhaar card, Voter ID, Passport, utility bill, Ration card, or any other government-issued document

  • Identity Proof: Aadhaar card, PAN card, Voter ID, Passport, or any other government-issued ID

  • Income Proof: Salary slips for the previous 3 months, latest ITR, and Form 16

  • Property Documents

For Self-employed Individuals:

  • Address Proof: Aadhaar card, Voter ID, Passport, utility bill, Ration card, or any other government-issued document

  • Identity Proof: Aadhaar card, PAN card, Voter ID, Passport, or any other government-issued ID

  • Income Proof: Bank statements for the previous 6 months, audited financial statements of the business, and ITR filed by the business

  • Property Documents

Other Loan Against Property EMI Options

FAQs on ₹20 Lakh Loan Against Property EMI

What is the EMI for a ₹20 Lakh loan against property?

The EMI for a ₹20 Lakh loan against property depends on the interest rate and the tenure you choose. You can use a loan EMI calculator to determine the exact amount based on your specific terms. 

Here is the EMI amount for various tenures at an interest rate of 9.50% p.a.:

  • 5 years: ₹42,004

  • 10 years: ₹25,880

  • 15 years: ₹20,884

  • 20 years: ₹18,643

  • 25 years: ₹17,474

  • 30 years: ₹16,817

Disclaimer: EMI amount may vary based on multiple parameters. It is best to check with the lender before applying. 

A ₹20 Lakh loan against property is a secured loan, meaning you must provide collateral. However, if you need funds quickly, you may want to consider unsecured loan options, like personal loans.

To qualify for a loan against property loan through Bajaj Markets, you must:

  • Be between 21 and 70 years old

  • Have a minimum monthly income of ₹30,000

  • Have at least 1 year of work experience (salaried) or 2 years (self-employed)

You can secure a loan against property and receive quick access to funds. After approval, banks and Non-Banking Financial Companies (NBFCs) often disburse the amount promptly. The benefit of this type of loan is that you can use the funds for any purpose without any restrictions.

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