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If you are looking to get a home loan of ₹60 Lakhs, checking the payable EMI amount is crucial. It impacts the aggregate cost of the loan as well as the strain the repayment puts on your finances. Two major factors that play a role in determining the instalment amount are the interest rate and tenure.

The former is usually decided by the lender based on your loan eligibility. Meanwhile, you may be able to negotiate for a tenure that suits your needs. But, how does the loan duration affect your monthly instalments?

EMI for a Home Loan of ₹60 Lakhs for Various Tenures

Let’s understand this with an example. Consider the interest rate for your home loan of ₹60 Lakhs is set at 9% p.a. In this case, the EMI over tenures ranging from 10 to 30 may be as follows:

Tenure

EMI

30 Years

₹48,277

25 Years

₹50,351

20 Years

₹53,984

15 Years

₹60,856

10 Years

₹76,005

*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

₹60 Lakhs Home Loan EMI Calculator

Loan Amount
₹ 1 L
₹ 15 L
₹ 1.5 Cr
₹ 15 Cr
Tenure
Months
12 M
246 M
480 M
Rate of Interest
6.00%
10.50%
15.00%
Home Loan
Your Monthly Home Loan EMI
₹76,005.46
Principal Amount
₹60,00,000
Total Interest
₹31,20,655.71
Total Amount Payable
₹91,20,655.71
Amortization Schedule
Download Amortization Schedule Download
Expand Amortization Schedule
Year Payable Amount Principal Interest Balance
2025 ₹ 6,08,040 ₹ 2,54,652 ₹ 3,53,389 ₹ 57,45,347
May₹ 76,005₹ 31,005₹ 45,000₹ 59,68,995
Jun₹ 76,005₹ 31,238₹ 44,767₹ 59,37,757
Jul₹ 76,005₹ 31,472₹ 44,533₹ 59,06,284
Aug₹ 76,005₹ 31,708₹ 44,297₹ 58,74,576
Sep₹ 76,005₹ 31,946₹ 44,059₹ 58,42,630
Oct₹ 76,005₹ 32,186₹ 43,820₹ 58,10,444
Nov₹ 76,005₹ 32,427₹ 43,578₹ 57,78,017
Dec₹ 76,005₹ 32,670₹ 43,335₹ 57,45,347
2026 ₹ 9,12,060 ₹ 4,11,692 ₹ 5,00,373 ₹ 53,33,655
Jan₹ 76,005₹ 32,915₹ 43,090₹ 57,12,431
Feb₹ 76,005₹ 33,162₹ 42,843₹ 56,79,269
Mar₹ 76,005₹ 33,411₹ 42,595₹ 56,45,858
Apr₹ 76,005₹ 33,662₹ 42,344₹ 56,12,197
May₹ 76,005₹ 33,914₹ 42,091₹ 55,78,283
Jun₹ 76,005₹ 34,168₹ 41,837₹ 55,44,114
Jul₹ 76,005₹ 34,425₹ 41,581₹ 55,09,690
Aug₹ 76,005₹ 34,683₹ 41,323₹ 54,75,007
Sep₹ 76,005₹ 34,943₹ 41,063₹ 54,40,064
Oct₹ 76,005₹ 35,205₹ 40,800₹ 54,04,859
Nov₹ 76,005₹ 35,469₹ 40,536₹ 53,69,390
Dec₹ 76,005₹ 35,735₹ 40,270₹ 53,33,655
2027 ₹ 9,12,060 ₹ 4,50,310 ₹ 4,61,753 ₹ 48,83,344
Jan₹ 76,005₹ 36,003₹ 40,002₹ 52,97,652
Feb₹ 76,005₹ 36,273₹ 39,732₹ 52,61,379
Mar₹ 76,005₹ 36,545₹ 39,460₹ 52,24,834
Apr₹ 76,005₹ 36,819₹ 39,186₹ 51,88,014
May₹ 76,005₹ 37,095₹ 38,910₹ 51,50,919
Jun₹ 76,005₹ 37,374₹ 38,632₹ 51,13,545
Jul₹ 76,005₹ 37,654₹ 38,352₹ 50,75,892
Aug₹ 76,005₹ 37,936₹ 38,069₹ 50,37,955
Sep₹ 76,005₹ 38,221₹ 37,785₹ 49,99,735
Oct₹ 76,005₹ 38,507₹ 37,498₹ 49,61,227
Nov₹ 76,005₹ 38,796₹ 37,209₹ 49,22,431
Dec₹ 76,005₹ 39,087₹ 36,918₹ 48,83,344
2028 ₹ 9,12,060 ₹ 4,92,553 ₹ 4,19,512 ₹ 43,90,790
Jan₹ 76,005₹ 39,380₹ 36,625₹ 48,43,963
Feb₹ 76,005₹ 39,676₹ 36,330₹ 48,04,287
Mar₹ 76,005₹ 39,973₹ 36,032₹ 47,64,314
Apr₹ 76,005₹ 40,273₹ 35,732₹ 47,24,041
May₹ 76,005₹ 40,575₹ 35,430₹ 46,83,466
Jun₹ 76,005₹ 40,879₹ 35,126₹ 46,42,586
Jul₹ 76,005₹ 41,186₹ 34,819₹ 46,01,400
Aug₹ 76,005₹ 41,495₹ 34,511₹ 45,59,905
Sep₹ 76,005₹ 41,806₹ 34,199₹ 45,18,099
Oct₹ 76,005₹ 42,120₹ 33,886₹ 44,75,980
Nov₹ 76,005₹ 42,436₹ 33,570₹ 44,33,544
Dec₹ 76,005₹ 42,754₹ 33,252₹ 43,90,790
2029 ₹ 9,12,060 ₹ 5,38,758 ₹ 3,73,307 ₹ 38,52,032
Jan₹ 76,005₹ 43,075₹ 32,931₹ 43,47,716
Feb₹ 76,005₹ 43,398₹ 32,608₹ 43,04,318
Mar₹ 76,005₹ 43,723₹ 32,282₹ 42,60,595
Apr₹ 76,005₹ 44,051₹ 31,954₹ 42,16,544
May₹ 76,005₹ 44,381₹ 31,624₹ 41,72,163
Jun₹ 76,005₹ 44,714₹ 31,291₹ 41,27,448
Jul₹ 76,005₹ 45,050₹ 30,956₹ 40,82,399
Aug₹ 76,005₹ 45,387₹ 30,618₹ 40,37,011
Sep₹ 76,005₹ 45,728₹ 30,278₹ 39,91,283
Oct₹ 76,005₹ 46,071₹ 29,935₹ 39,45,212
Nov₹ 76,005₹ 46,416₹ 29,589₹ 38,98,796
Dec₹ 76,005₹ 46,764₹ 29,241₹ 38,52,032
2030 ₹ 9,12,060 ₹ 5,89,299 ₹ 3,22,768 ₹ 32,62,734
Jan₹ 76,005₹ 47,115₹ 28,890₹ 38,04,916
Feb₹ 76,005₹ 47,469₹ 28,537₹ 37,57,448
Mar₹ 76,005₹ 47,825₹ 28,181₹ 37,09,623
Apr₹ 76,005₹ 48,183₹ 27,822₹ 36,61,440
May₹ 76,005₹ 48,545₹ 27,461₹ 36,12,895
Jun₹ 76,005₹ 48,909₹ 27,097₹ 35,63,986
Jul₹ 76,005₹ 49,276₹ 26,730₹ 35,14,711
Aug₹ 76,005₹ 49,645₹ 26,360₹ 34,65,066
Sep₹ 76,005₹ 50,017₹ 25,988₹ 34,15,048
Oct₹ 76,005₹ 50,393₹ 25,613₹ 33,64,656
Nov₹ 76,005₹ 50,771₹ 25,235₹ 33,13,885
Dec₹ 76,005₹ 51,151₹ 24,854₹ 32,62,734
2031 ₹ 9,12,060 ₹ 6,44,577 ₹ 2,67,489 ₹ 26,18,156
Jan₹ 76,005₹ 51,535₹ 24,471₹ 32,11,199
Feb₹ 76,005₹ 51,921₹ 24,084₹ 31,59,277
Mar₹ 76,005₹ 52,311₹ 23,695₹ 31,06,967
Apr₹ 76,005₹ 52,703₹ 23,302₹ 30,54,263
May₹ 76,005₹ 53,098₹ 22,907₹ 30,01,165
Jun₹ 76,005₹ 53,497₹ 22,509₹ 29,47,668
Jul₹ 76,005₹ 53,898₹ 22,108₹ 28,93,770
Aug₹ 76,005₹ 54,302₹ 21,703₹ 28,39,468
Sep₹ 76,005₹ 54,709₹ 21,296₹ 27,84,759
Oct₹ 76,005₹ 55,120₹ 20,886₹ 27,29,639
Nov₹ 76,005₹ 55,533₹ 20,472₹ 26,74,106
Dec₹ 76,005₹ 55,950₹ 20,056₹ 26,18,156
2032 ₹ 9,12,060 ₹ 7,05,043 ₹ 2,07,020 ₹ 19,13,112
Jan₹ 76,005₹ 56,369₹ 19,636₹ 25,61,787
Feb₹ 76,005₹ 56,792₹ 19,213₹ 25,04,995
Mar₹ 76,005₹ 57,218₹ 18,787₹ 24,47,777
Apr₹ 76,005₹ 57,647₹ 18,358₹ 23,90,129
May₹ 76,005₹ 58,079₹ 17,926₹ 23,32,050
Jun₹ 76,005₹ 58,515₹ 17,490₹ 22,73,535
Jul₹ 76,005₹ 58,954₹ 17,052₹ 22,14,581
Aug₹ 76,005₹ 59,396₹ 16,609₹ 21,55,185
Sep₹ 76,005₹ 59,842₹ 16,164₹ 20,95,343
Oct₹ 76,005₹ 60,290₹ 15,715₹ 20,35,053
Nov₹ 76,005₹ 60,743₹ 15,263₹ 19,74,310
Dec₹ 76,005₹ 61,198₹ 14,807₹ 19,13,112
2033 ₹ 9,12,060 ₹ 7,71,182 ₹ 1,40,884 ₹ 11,41,930
Jan₹ 76,005₹ 61,657₹ 14,348₹ 18,51,455
Feb₹ 76,005₹ 62,120₹ 13,886₹ 17,89,336
Mar₹ 76,005₹ 62,585₹ 13,420₹ 17,26,750
Apr₹ 76,005₹ 63,055₹ 12,951₹ 16,63,695
May₹ 76,005₹ 63,528₹ 12,478₹ 16,00,168
Jun₹ 76,005₹ 64,004₹ 12,001₹ 15,36,163
Jul₹ 76,005₹ 64,484₹ 11,521₹ 14,71,679
Aug₹ 76,005₹ 64,968₹ 11,038₹ 14,06,711
Sep₹ 76,005₹ 65,455₹ 10,550₹ 13,41,256
Oct₹ 76,005₹ 65,946₹ 10,059₹ 12,75,310
Nov₹ 76,005₹ 66,441₹ 9,565₹ 12,08,869
Dec₹ 76,005₹ 66,939₹ 9,067₹ 11,41,930
2034 ₹ 9,12,060 ₹ 8,43,522 ₹ 68,540 ₹ 2,98,407
Jan₹ 76,005₹ 67,441₹ 8,564₹ 10,74,489
Feb₹ 76,005₹ 67,947₹ 8,059₹ 10,06,543
Mar₹ 76,005₹ 68,456₹ 7,549₹ 9,38,086
Apr₹ 76,005₹ 68,970₹ 7,036₹ 8,69,116
May₹ 76,005₹ 69,487₹ 6,518₹ 7,99,629
Jun₹ 76,005₹ 70,008₹ 5,997₹ 7,29,621
Jul₹ 76,005₹ 70,533₹ 5,472₹ 6,59,088
Aug₹ 76,005₹ 71,062₹ 4,943₹ 5,88,026
Sep₹ 76,005₹ 71,595₹ 4,410₹ 5,16,430
Oct₹ 76,005₹ 72,132₹ 3,873₹ 4,44,298
Nov₹ 76,005₹ 72,673₹ 3,332₹ 3,71,625
Dec₹ 76,005₹ 73,218₹ 2,787₹ 2,98,407
2035 ₹ 3,04,020 ₹ 2,98,406 ₹ 5,616 ₹ 0
Jan₹ 76,005₹ 73,767₹ 2,238₹ 2,24,639
Feb₹ 76,005₹ 74,321₹ 1,685₹ 1,50,318
Mar₹ 76,005₹ 74,878₹ 1,127₹ 75,440
Apr₹ 76,005₹ 75,440₹ 566₹ 0

Detailed Breakup of Home Loan of ₹60 Lakhs for 10 Years

Consider the following table to check the probable cost of your home loan if the tenure is set at 10 years:

Loan Amount

₹60 Lakhs

Interest Rate

9% p.a.

Loan Tenure

10 Years

EMI

₹76,005

Total Interest

₹29,84,836

Total Repayment

₹89,84,836

*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

Detailed Breakup of Home Loan of ₹60 Lakhs for 20 Years

While the ₹60 Lakh home loan EMI for 20 years may be lower, the interest outgo is far higher. Here are the details:

Loan Amount

₹60 Lakhs

Interest Rate

9% p.a.

Loan Tenure

20 Years

EMI

₹53,984

Total Interest

₹66,33,708

Total Repayment

₹1,26,33,708 

*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

Detailed Breakup of Home Loan of ₹60 Lakhs for 30 Years

The EMI and repayment costs of a home loan of ₹60 Lakhs with a tenure of 30 years are as follows:

Loan Amount

₹60 Lakhs

Interest Rate

9% p.a.

Loan Tenure

30 Years

EMI

₹48,277

Total Interest

₹1,13,79,848

Total Repayment

₹1,73,79,848

*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

Lenders Offering Home Loans of ₹60 Lakhs

Lenders

Starting Interest Rate

PNB Housing Finance

8.50% p.a.

Bajaj Housing Finance Limited

8.55% p.a.

LIC Housing Finance

8.65% p.a.

ICICI Bank

9.00% p.a.

Shriram Housing Finance

11.50% p.a.

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

Eligibility Criteria & Documents Required for a ₹60 Lakh Home Loan

You should meet the eligibility criteria listed below to qualify for a home loan to qualify for a home loan of ₹60 Lakhs:

  • Indian citizenship

  • For salaried applicants

    • Age: 23 to 62 years

    • Work experience: At least 3 years

  • For self-employed applicants

    • Age: 25 to 70 years 

    • Business vintage: At least 5 years

Also, you will be asked to provide the documents listed below:

  • Identity proof: Aadhaar card, PAN card, voter ID, driving licence, etc.

  • Address proof: Aadhaar card, passport, utility bills, etc.

  • Income proof:

    • For Self-employed: 

      • Certificates proving their qualification for self-employed professionals

      • TDS certificate

      • Business licence details

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

      • Profit and loss statement of the previous 3 years

      • ITR filings of the previous 2 years

    • For Salaried:

      • Form 16

      • ITR filings of the previous 2 years

      • Salary slips of the previous 3 months

You may be required to provide some additional documents depending on the lender’s requirements. Be sure to ask your chosen lender’s complete set of eligibility and documentation requirements before applying for the loan.

FAQs on ₹60 Lakh Home Loan EMI

How much EMI will I have to pay if the home loan amount ranges between ₹30 Lakhs to ₹60 Lakhs?

The EMI of your home loan amount between ₹30 Lakhs to ₹60 Lakhs depends on the interest rate and the tenure of your housing loan. With a loan amount of ₹30 Lakhs and a tenure of 20 years, the EMI at an interest rate of 8.50% will amount to ₹26,320. With the same interest rate and tenure, the loan for ₹60 Lakhs will amount to ₹52,640.

How much EMI will I have to pay if the home loan amount ranges between ₹61 Lakhs to ₹1 Crore?

With the loan amount of ₹61 Lakhs and the tenure of 20 years, the housing loan EMI at an interest rate of 8.65% will amount to ₹53,518. If the loan amount is ₹1 Cr and the tenure and interest rate remain the same, the EMI will be ₹87,734.

Can I get a ₹60 Lakh home loan without any security?

Getting a ₹60 Lakh home loan without any collateral is not possible as you are required to pledge your home as collateral in order to get funds.

What is the maximum repayment period I can get for a ₹60 Lakh home loan?

Depending on the lender, you can choose a tenure that ranges up to 30 years. Remember, selecting a longer repayment tenure can be advantageous as it can reduce the EMI on ₹60 Lakh home loan.

What is the minimum salary I need to have to get a ₹60 Lakh home loan?

The minimum salary needed to get this loan will depend on the lender and the tenure you choose, as it affects your EMI. For instance, if you decide to opt for a 10-year home loan with an interest rate of 8.65%, your EMIs will be ₹74,874. 

In such a case, you would need to maintain an income of at least ₹1.5 Lakhs, to comfortably qualify for the loan. This is because lenders prefer you to have a debt-to-income ratio of 50% or lower.

Can I get a home loan of ₹60 Lakhs even if I have a low credit score?

Yes, it is possible to get a home loan of ₹60 Lakhs even if you have a low credit score. However, in such cases, most lenders offer high interest rates or limited repayment options. Thus, having a good score is essential to boost your loan eligibility and get a loan offer that suits your needs and preferences.

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