EMI for a Home Loan of ₹75 Lakhs

Are you planning to take a home loan of ₹75 Lakhs? Planning your repayment and assessing whether the monthly instalment amount for the loan falls within your budget, are crucial steps in this process. Read on to discover how a ₹75 Lakh home loan EMI calculator can assist you in making informed decisions.

Choosing the ideal home loan repayment tenure for a ₹75 Lakh loan is pivotal, affecting the EMI amount. One of the most important factors that affect your loan is the tenure. The longer the duration of the loan, the lower the EMI amount. However, long tenures lead to higher interest costs. 

Thus it is essential to select a loan term that aligns with your requirements. Using the EMI calculator provides instant and error-free results that enable you to budget better and make financially wise decisions.

Let us understand how the loan tenure affects your home loan EMIs better. For this, assume that you are offered an interest rate of 8.50% p.a. Opting for a shorter tenure like that of 10 years leads to higher EMIs but reduces total interest payments. Here’s how:

With a 20-year tenure, EMIs become more affordable, striking a balance between repayment and financial strain. The details are as follows:

Extending the repayment tenure to 30 years results in the lowest EMIs, offering financial flexibility. This is visible in the table below:

On Bajaj Markets, explore various lending partners and compare options to get a home loan of ₹75 Lakhs at favourable rates and terms: