70 Lakh Home Loan EMI

Check 70 Lakh Home Loan EMI & Interest Rate

✓ Home Loan from ₹2 Lakhs To ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.50%

Buying the home of your dreams is not at all a difficult task anymore. The advent of digital banking has made loans available to customers on merely a few clicks. You don’t need to stand in long queues at the bank or physically fill those long forms anymore. Home loans can now be applied from the comfort of your home itself. 

Any individual who wishes to own a new refurnished home, or a property, can simply go on the internet to check for a ₹70 Lakh home loan EMI option and understand everything from eligibility criteria to applying for the loan online. However, you need to keep certain basic documents ready before you apply for the loan, otherwise, the process ends up getting just as cumbersome and time-taking for you.

Let’s take a deep dive into understanding home loans, how to apply for a home loan online, calculating EMI for a home loan of ₹70 Lakhs, and more.

EMI Calculations for a Home Loan of Rs. ₹70 Lakhs with Varying Tenures 

Once you have decided to opt for a ₹70 Lakh home loan EMI option, simply enter the loan tenure of your choice and interest rate offered by the bank to calculate your EMIs: 

Loan Amount

Interest Rate


EMI (in rupees)

₹70 Lakhs


5 years


₹70 Lakhs


10 years


₹70 Lakhs


15 years


₹70 Lakhs


20 years


₹70 Lakhs


25 years


₹70 Lakhs


30 years


₹70 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.

To understand your ₹70 Lakh home loan EMI, you can use a home loan calculator online for free. With the help of this calculator, you can calculate the monthly instalment that you will repay the bank for the tenure you select. 

The formula for calculating home loan EMI is – P X R X (1+R) )^N / [(1+R)^N-1]
P = principal loan amount
N = loan tenure in months
R = annual rate of interest

By using a home loan EMI calculator, you can plan your monthly budget and expenses at ease. Moreover, with the help of a home loan EMI calculator you can calculate your EMIs for the entire loan duration, wherein the interest and principal amount breakup will also be clear.This will help you understand how the rate of interest is affecting your EMIs, and you can plan for an earlier payment, i.e., a top-up payment, if your lender allows the same.

Interest Rate Applicable on a ₹70 Lakh Home Loan

The rate of interest applicable on home loans differ from bank to bank, however, the average rate of interest an applicant can assume is around 7.10%. Take a look at the house loan interest rates offered by top banks in India: 


Rate of Interest

Bajaj Housing Finance Limited

7.10% p.a. onwards

Union Bank of India

7.40% p.a. onwards

PNB Housing Finance Limited

7.50% p.a. onwards

LIC Housing Finance

7.55% p.a. onwards


7.60% p.a. onwards

Shubham Housing Finance

11.90% p.a. onwards

Home First Finance Company

11.90% p.a. onwards

Disclaimer- Interest rates mentioned in the above table can vary from one lending partner to the other and are subject to change.

Eligibility Criteria for a ₹70 Lakh Home Loan 

The eligibility for a home loan could differ from bank to bank, and it is advisable to know about it in advance. Before applying for a ₹70 Lakh home loan, here is the standard eligibility criteria you must know:

  • Applicants should be between 18 to 70 years of age.

  • A self-employed professional and salaried individual from the private or government sector can apply for a home loan.

  • Minimum monthly income for a salaried individual needs to be ₹25,000, while the minimum monthly income for self-employed professionals needs to be ₹40,000.

  • A good credit and CIBIL score (650 and above) is necessary.

Steps to Apply for a Home Loan Up to ₹70 Lakhs

Follow these quick steps to avail a housing loan up to ₹70 Lakhs:

  • Step 1: Under ‘Home Loan ₹70 Lakhs’, fill out the application form on the Bajaj MARKETS platform.

  • Step 2: Mention your personal income, employment, property, and other relevant details.

  • Step 3: Upload the necessary documents and proof along with the form.

  • Step 4: A verification process will now be conducted by the bank representative to authenticate all your details and shared information.

Once the process is done, a bank representative takes you through the rest of the process and helps you get the loan amount disbursed as quickly as possible.

Documents Needed for ₹70 Lakh Home Loan

The home loan document list varies from person to person, and also differs on the basis of profession, income sources, and the type of loan you are seeking. If you are looking to apply for a ₹70 Lakh home loan, then you need to be prepared with a checklist of documents required for a home loan and then go about your application. Here is the list of documents required for a home loan:

  • Identity proof: PAN card or Aadhaar card

  • Address proof: Aadhaar card, Passport, Voter ID, Driver’s licence etc.

  • Income proof: Salaried individuals need to provide their last 3 months bank statement, which reflects their salary credit amount, along with salary slips. Self-employed individuals need to submit their last 3 months bank statement along with their ITR and proof of Business Certificate

  • Property documents: A Conveyance deed, Registered Sales deed or Lease is mandatory. Builder agreement and payment receipts with the allotment letter are also needed.

  • Filled out home loan application form

  • House tax return filing proof

  • Passport size photographs of the applicant and co-applicant (if any)

How to Minimise Your ₹70 Lakh Home Loan EMI?

There are many ways a home loan borrower can try to bring down the ₹70 Lakh home loan EMI amount. Right from switching home loans between banks to negotiating with the lender early on, here are some of the ways you can try to minimise your ₹70 Lakh home loan EMI:

  • Pre-payment: When you have some money kept on the side or saved up, consider using that to top-up your home loan payment. By doing so, you will reduce the cost of your monthly instalments and ensure that your home loan tenure finishes faster. 

  • Higher down payment: Higher the down payment, lesser the home loan amount that will be needed. Hence, try to make as much house loan  down payment as feasible.

  • Step-down EMI: With a plan like this, certain banks or NBFCs allow you to pay higher EMIs at the start of your repayment tenure, and the EMI amount gradually decreases over time.

  • Increase tenure: The longer your home loan repayment tenure, the less your monthly repayment amount. If you want to stagger your repayment and don’t wish to spend a lot every month then it is ideal to request for a long home loan tenure like 25 or 30 years.

Factors that affect your ₹70 Lakh Home Loan EMI 

Here are some of the basic factors that can affect EMI for ₹70 Lakh home loan: 

  • Principal: Higher the loan amount you opt for, more the EMI.

  • Tenure: Shorter the loan tenure you select, the higher the EMI amount. If you opt for a longer tenure, your EMI amount will be lesser.

  • Interest rate: A higher interest rate will mean a higher EMI amount. Moreover, a change in interest rate will also impact your loan, either by increasing your EMI amount every month or by extending your overall tenure.

  • Pre-payment: If the borrower is topping-up their home loan, then that will reduce the principal amount. This will eventually help in either lowering the EMI amount or reducing home loan tenure.

Other Home Loan EMI Options 

Check out the various types of ₹70 Lakh home loan EMI options you can avail of before you finalise your borrowing decision.

  • Overdraft EMI option – Some banks allow for EMI on home loans with an overdraft facility, where the borrower gets the liberty to park surplus funds in their bank account. This helps them save on the home loan interest rate for as long as the funds remain in the account.

  • Under-construction EMI option – If you are buying a home in a property that is still under construction, then you can select between a pre-EMI and full EMI option. With a pre-EMI plan, you need to only pay the interest on the principal loan amount till you get the possession of the property or till the end of moratorium period, whichever is earlier. 

FAQs on ₹70 Lakh Home Loan EMI

  • ✔️How to choose the right EMI for the Home loan upto ₹70 Lakhs?

    Even a small modification in the principal amount and the tenure can affect your monthly EMI. So assess your financial obligations and apply for a home loan.

  • ✔️ How much EMI will I have to pay if the home loan amount ranges between ₹70 Lakhs to ₹1 Crore?

    If you consider the rate of interest at 7.55% for a ₹70 Lakh home loan taken for 20 years, your EMI will be around ₹56,606. For a ₹1 Crore home loan, considering the same tenure and rate of interest, EMI will be ₹80,865.