BAJAJ FINSERV DIRECT LIMITED

₹12 Lakh Home Loan EMI

Know the EMI for a home loan of ₹12 Lakhs and opt for suitable loan terms

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Your Monthly Loan EMI
₹ 9,184
Total Interest
₹ 2,106,410
Principal Amount
₹ 12,00,000
Total Payable Amount
₹ 33,06,410
Loan Amount i
Interest Rate
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Min value reached
Max value reached
Tenure
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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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Applying for an affordable home loan of ₹12 Lakhs can help you finance the purchase of a home. To find affordable terms, knowing the EMI for a home loan of ₹12 Lakhs is essential. With an EMI calculator, you can compare the EMI amount at various tenures.

EMI for a Home Loan of ₹12 Lakhs for Various Tenures

The following table includes the ₹12 Lakh home loan EMI that you will need to pay at various tenures, with an interest rate of 8.50% p.a.:

Repayment Tenure

EMI Amount

10 Years

₹14,878

20 Years

₹10,414

25 Years

₹9,663

30 Years

₹9,227

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

Detailed Breakup of Home Loan of ₹12 Lakhs for 10 Years

Check out this table to know about the EMI amount for a home loan of ₹12 Lakhs for 10 years:

Loan Amount

₹12 Lakhs

Interest Rate

8.50% p.a.

Loan Tenure

10 Years

EMI Amount

₹14,878

Total Interest Payable

₹5,85,394

Total Payable Amount

₹17,85,394

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

Detailed Breakup of Home Loan of ₹12 Lakhs for 20 Years

Here is the calculation of EMI for a home loan of ₹12 Lakhs for 20 years:

Loan Amount

₹12 Lakhs

Interest Rate

8.50% p.a.

Loan Tenure

20 Years

EMI Amount

₹10,414

Total Interest Payable

₹12,99,331

Total Payable Amount

₹24,99,331

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

Detailed Breakup of Home Loan of ₹12 Lakhs for 30 Years

Refer to this table for the calculation of EMI for a home loan of ₹12 Lakhs for 30 years:

Loan Amount

₹12 Lakhs

Interest Rate

8.50% p.a.

Loan Tenure

30 Years

EMI Amount

₹9,227

Total Interest Payable

₹21,21,706

Total Payable Amount

₹33,21,706

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

Lenders Offering Home Loans of ₹12 Lakhs

Lenders

Starting Interest Rate

PNB Housing Finance

8.50% p.a.

L&T Finance

8.60% p.a.

LIC Housing Finance

8.65% p.a.

Home First Finance Company

9.00% p.a.

Kotak Mahindra Bank

9.00% p.a.

Shubham Housing Finance

9.90% p.a.

Shriram Housing Finance

11.50% p.a.

Vridhi Home Finance

12.00% p.a.

India Shelter

13.00% p.a.

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

Eligibility Criteria & Documents Required for a ₹12 Lakh Home Loan

Fulfil the following requirements to be eligible for a home loan of ₹12 Lakhs:

  • The applicant must be an Indian citizen and resident

  • If salaried, the applicant’s age should be between 23 and 62 years

  • If self-employed, the applicant’s age must be between 25 and 70 years 

  • The salaried applicant must have a work experience of at least 3 years 

  • If self-employed, the business vintage should be at least 5 years

Alongside this, you are required to submit the following documents:

  • Identity Proof: PAN card, driving licence, Aadhaar card, or voter ID 

  • Address Proof: Utility bills, Aadhaar card, or passport

  • Income Proof: 

    • For Salaried Applicants: 

      • ITR filings of the last 2 years

      • Form 16

      • Salary slips of the last 3 months

    • For Self-employed Applicants: 

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

      • ITR filings of the last 2 years

      • Profit and loss statement of the last 3 years

      • Business licence details

      • TDS certificate

      • Degree/qualification certificates for self-employed professionals 

FAQs on ₹15 Lakh Home Loan EMI

What will be the EMI for a ₹12 Lakh home loan for 10 years?

At an interest rate of 8.50% p.a., the EMI for a home loan of ₹12 Lakhs for 10 years is ₹14,878.

The EMI at an interest rate of 8.50% p.a. will amount to ₹10,414.

For a repayment tenure of 25 years, the EMI will be ₹9,663 at an interest rate of 8.50% p.a.

Yes, you can apply for a housing loan with a low credit score. However, you may have to pay a higher interest rate.

Yes, you can prepay and foreclose your home loan of ₹12 Lakhs. However, you may be required to pay a nominal fee for utilising this facility. Ensure to check the applicable charges with your lender prior to making any financial decisions.

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