✓ Home Loan from ₹2 Lakhs to ₹15 Crores ✓ Interest Rates Starting @ 8.50% Apply Now

You can take a home loan of ₹30 Lakhs for various reasons like the purchase of property or land, renovation, extension and more. However, prior to getting a loan, it is important to check the amount you are liable to pay over the tenure. Thus to plan and budget for the repayment, it is essential to compute the possible loan EMIs beforehand and check whether you can afford the loan. 

EMI Calculations for a Home Loan of ₹30 Lakhs with Varying Tenures

Your EMIs for a home loan of ₹30 Lakhs will depend on factors like the length of the repayment period and the interest rate charged. The formula to calculate your EMI is:

EMI = P x R x (1+R)^N / [(1+R)^N-1]

Here,

  • P is the principal loan amount

  • N is the tenure of the loan in months

  • R is the interest rate


Now, let us assume that the interest rate charged on the loan is constant at 8.65% p.a. This will help us ascertain the impact of change in tenures on your monthly instalments. The table below shows the EMI details for different loan tenures calculated with the help of an EMI calculator:

Repayment Tenure

EMI Amount

10 Years

₹37,437

15 Years

₹29,807

20 Years

₹26,320

30 Years

₹23,387

From the above table, it is clear that your EMIs will change according to the tenure of your choice. Additionally, your EMI payments are likely to reduce as the tenure increases. However, remember that your total interest amount payment will increase with a longer tenure. Let us now understand in further detail how different tenures affect your home loan EMI.

₹30 Lakh Home Loan EMI Calculator

** The above charges are excluding taxes
* Placeholder for disclaimers on Interest and Charges page
 **These are indicative and subject to change at the discretion of lender/ without prior notice.

EMI for a Home Loan of ₹30 Lakhs for 10 Years

To calculate the EMI of your home loan of ₹30 Lakhs for 10 years, you can take the assistance of an EMI calculator.

Enter the loan amount, tenure and interest rate using the EMI calculator to compute the EMI for a home loan. The table provided below carries the essential details of monthly instalments you would be asked to pay for a home loan of ₹30 Lakhs for 10 years. 

Loan Amount

₹30,00,000

Rate of Interest

8.65% per annum

EMI Amount

₹37,437

Total Interest Amount

₹14,92,417

Total Repayment Amount

₹44,92,417

EMI for a Home Loan of ₹30 Lakhs for 20 Years

You can also compute your EMI for a home loan of ₹30 Lakhs for 20 years to see the difference. An extended repayment timeline usually results in lower monthly payments.

You can use an EMI calculator to easily compute the EMI for your home loan of ₹30 Lakhs for 20 years.

Loan Amount

₹30,00,000

Rate of Interest

8.65% per annum

EMI Amount

₹26,320

Total Interest Amount

₹33,16,850

Total Repayment Amount

₹63,16,850

EMI for a Home Loan of ₹30 Lakhs for 30 Years

Similarly, you can compute the EMIs for your home loan of ₹30 Lakhs for 30 years. Here is the table with details like the EMI amount, total interest dues and total repayable amount. 

Loan Amount

₹30,00,000

Rate of Interest

8.65% per annum

EMI Amount

₹23,387

Total Interest Amount

₹54,19,347

Total Repayment Amount

₹84,19,347

*Insert EMI calculator functionality*

Interest Rate Offered by Banks/NBFCs on a Home Loan of ₹30 Lakhs

The table below offers a quick view of the different lending partners offering home loans on Bajaj Markets.

Name of the Partner

Interest Rates

Maximum Tenure

Bajaj Housing Finance Limited

8.50% p.a. onwards

30 Years

Home First Finance Company

9.50% p.a. onwards

20 Years

ICICI Bank

9.00% p.a. onwards

30 Years

India Shelter

10.50% p.a. onwards

20 Years

Kotak Mahindra Bank

9.00% p.a. onwards 

20 Years

LIC Housing Finance

8.65% p.a. onwards

30 Years

PNB Housing Finance Limited

8.50% p.a. onwards

30 Years

Shriram Housing Finance

11.50% p.a. onwards

25 years

Shubham Housing Finance

10.90% p.a. onwards

25 Years

Union Bank of India

8.50% p.a. onwards

30 Years

*Disclaimer: The interest rates and associated charges may vary from one lending partner to the other and are subject to policy changes of the partner.

FAQs

A home loan is a secured loan. So, if you secure a home loan of ₹30 Lakhs, the property you plan to buy using the sanctioned amount will be put up as collateral. 

You can enjoy a repayment tenure of up to 40 years for a home loan of ₹30 Lakhs.

The minimum income required to be eligible for home loan of ₹30 Lakhs differs from one lender to another.

 

Home
active_tab
Loan Offer
active_tab
Download App
active_tab
Credit Score
active_tab