₹20 Lakhs Home Loan EMI & Interest Rates

Are you planning to borrow a Home Loan of ₹20 Lakhs to purchase your dream house? Before diving in, it's important to understand Home Loan EMIs. Calculating Home Loan interest rate and EMI in advance will help with a better repayment plan and financial management. You can use a loan EMI calculator to check your EMI amount online. Let's find out what is the EMI for ₹20 Lakhs Home Loan for different loan tenure.

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₹20 Lakhs Home EMI as per tenure

At HDFC Bank, you may obtain Home Loans at attractive interest rates. Let's look at the ₹20 Lakhs housing loan EMI amounts for various loan tenures:

Loan Amount	Interest Rate	Repayment Tenure	EMI Amount
₹20 Lakhs	8.50%*	5 Years	₹41,033
₹20 Lakhs	8.50%*	10 Years	₹24,797
₹20 Lakhs	8.50%*	15 Years	₹19,695
₹20 Lakhs	8.50%*	20 Years	₹17,356
₹20 Lakhs	8.50%*	25 Years	₹16,105

*T&C Apply

₹20 Lakhs Home Loan Eligibility & Documents Required

You must fulfil a few eligibility conditions and documentation requirements to qualify for a ₹20 Lakhs Home Loan at HDFC Bank. Here's an overview:

Criteria

Salaried Applicants

Self-employed Applicants

Age

Applicants should be between 18 and 60 years old

Applicants should be between 18-65 years old

Income

Minimum Income of ₹20,000 per month for Delhi, Mumbai, Bangalore, Pune, and Chennai residents.

Minimum Income of ₹15,000 per month for the residents of other cities.

Minimum Income of ₹20,000 per month for residents of Delhi, Mumbai, Bangalore, Pune, and Chennai.

Minimum Income of ₹15,000 per month for the residents of other cities.

Work Experience/ Continuity

2 years of work experience and at least 6 months in the current organisation.

Minimum 3 years in business or profession with the number of successful years in the business or profession.

If you fulfil these home loan eligibility conditions, you must submit the following documents to apply for a ₹20 Lakhs Home Loan at HDFC Bank:

Identity proof, like Aadhar card, PAN card, driving licence, voter ID, passport, etc.
Address proof, like Aadhar card, voter ID, driving licence, passport, etc.
Age proof, like voter ID, passport, PAN card, Aadhar card, driving licence, etc.
Signature proof, like a passport or PAN card
Income proof

₹20 Lakhs Home Loan EMI for different tenures

What will be the EMI on ₹20 Lakhs Home Loan for 10 years

Choosing a tenure of 10 years may attract a bigger EMI for your Home Loan of ₹20 Lakhs. Using a ₹20 Lakhs loan EMI calculator, you will get the following results:

Loan Amount	₹20 Lakhs
Interest Rate	8.50%*
Loan Tenure	10 Years
₹20 Lakhs Home Loan EMI for 10 years	₹24,797
Total Interest Payable	₹9,75,657
Total Payable Amount	₹29,75,657

*T&C Apply

What will be the EMI on ₹20 Lakhs Home Loan for 20 years

Are you planning to borrow a ₹20 Lakhs Home Loan for 20 years, your repayment structure would be similar to this:

Loan Amount	₹20 Lakhs
Interest Rate	8.50%*
Loan Tenure	20 Years
₹20 Lakhs Home Loan EMI for 20 years	₹17,356
Total Interest Payable	₹21,65,552
Total Payable Amount	₹41,65,552

*T&C Apply

What will be the EMI on ₹20 Lakhs Home Loan for 25 years

25 years is the maximum Home Loan tenure you can choose at HDFC Bank. Do you want to calculate your ₹20 Lakhs Home Loan EMI for 25 years? EMI calculator will give the following results:

Loan Amount	₹20 Lakhs
Interest Rate	8.50%*
Loan Tenure	25 Years
₹20 Lakhs Home Loan EMI for 25 years	₹16,105
Total Interest Payable	₹28,31,363
Total Payable Amount	₹48,31,363

*T&C Apply

Housing Charges

Processing Fees & Charges

Processing Fees & Charges

Conversion Fees

Miscellaneous Receipts

Pre Mature Closure/ Part Payment

Property Document Retention Charges

Processing Fees

Name of Fee/ Charge levied	Amount in Rupees
Fees for Resident Housing Loan/ Extension/ House Renovation Loan/ Refinance of Housing Loan/ Plot Loans for Housing (Salaried, Self-Employed Professionals)	Upto 0.50% of the loan amount or Rs. 3000/- whichever is higher + applicable taxes / statutory levies. Minimum Retention Amount: 50% of applicable fees or Rs. 3000/- +applicable taxes/statutory levies whichever is higher
Fees for Resident Housing/ Extension/ Renovation/ Refinance/ Plot Loans for Self Employed Non-Professionals.	Upto 1.50 % of the Loan amount or Rs. 4500/- whichever is higher+ applicable taxes / statutory levies. Minimum Retention Amount: 50% of applicable fees or Rs. 4500/- +applicable taxes/statutory levies whichever is higher
Fees for NRI Loans	Upto 1.25% of the Loan amount or Rs. 3000/- whichever is higher + applicable taxes / statutory levies and charges. Minimum Retention Amount: 50% of applicable fees or Rs. 3000/-+applicable taxes/statutory levies whichever is higher
Fees for Value Plus Loans	Upto 1.50% of the Loan amount or Rs. 4500/- whichever is higher + applicable taxes / statutory levies and charges. Minimum Retention Amount: 50% of applicable fees or Rs. 4500/-+applicable taxes/statutory levies whichever is higher
Fees for Loans under HDFC Bank Reach Scheme	Up to 2.00% of the loan amount+ applicable taxes / statutory levies. Minimum Retention Amount: 50% of applicable fees or Rs. 3000/-+applicable taxes/statutory levies whichever is higher
Re-appraisal of loan after 6months from date of sanction	Rs. 2000/- + applicable taxes / statutory levies.

Other Charges

Name of Fee/ Charge levied	Amount in Rupees
Additional Interest	A maximum of 18% P. A. on overdue instalment amounts.
Incidental Charges	Incidental charges and expenses are levied to cover the cost, charges, expense and other monies as per actuals applicable to a case.
Stamp Duty/ MOD/ MOE/ Registration	As applicable in the respective States.
Fees/Charges levied by entities such as CERSAI	As per actual charges/ fee levied by Regulatory bodies + applicable taxes/ statutory levies
Fees/Charges levied by such third parties such as mortgage guarantee company	As per actual fee/ charges levied by any third party(ies) + applicable taxes/ statutory levies

Name of Fee/ Charge levied	Amount in Rupees
Switch to Lower Rate in Variable rate Loans (Housing/ Extension/ Renovation)	Upto 0.50% of the Principal Outstanding and undisbursed amount (if any)at the time of Conversion or a cap of Rs.50000/-+applicable taxes/statutory Levies which ever is lower.
Switching to Variable Rate Loan from Fixed Rate Loan (Housing/Extension/ Renovation)	Upto 0.50% of the Principal Outstanding and undisbursed amount (if any) at the time of Conversion or a cap of Rs.50000/- + applicable taxes / statutory levies whichever is lower.
Switch from Combination Rate home loan fixed rate to Variable rate	1.75% of the Principal Outstanding and Undisbursed amount (if any)+ applicable taxes / statutory levies at the time of Conversion.
Switch to Lower Rate (Plot Loans)- Variable Rate	0.5% of principal outstanding and undisbursed amount (if any) + applicable taxes/statutory levies at the time of Conversion.
Switch to Lower Rate (Loans under HDFC Bank Reach)- Variable Rate	Upto 1.50% of the principal outstanding and undisbursed amount (if any) + applicable taxes/statutory levies at the time of conversion.

Name of Fee/ Charge levied	Amount in Rupees
Cheque/ACH/SI Dishonor Charge	Rs. 300/- Per Dishonor.
Photocopy of Documents	Upto Rs. 500/- + applicable taxes / . statutory levies
Fees on account of External Opinion – such as legal/technical verifications.	As per actuals.
List of documents	Upto Rs. 500/- + applicable taxes / statutory levies.
PDC swap	Upto Rs. 500/- + applicable taxes / statutory levies.

Name of Fee/ Charge levied	Amount in Rupees
A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest	For loans sanctioned to individual borrowers with or without co-applicants, no prepayment charges shall be payable on account of part or full prepayments made through any sources* except when the loan is sanctioned for business purposes**.
B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest	For all loans sanctioned with or without co-applicants, the prepayment charge shall be levied at the rate of 2%, plus applicable taxes/statutory levies of the amounts being so prepaid on account of part or full prepayments except when part or full prepayment is being made through own sources*.

Own Sources: *the expression "own sources" for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution.

Name of Fee/ Charge levied	Amount in Rupees
Custody charges	Rs 1000/- per month for non-collection of collateral documents beyond 60 days, from date of closure of all loans/facilities linked to the collateral.

Home Loan in Different Cities

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In this challenging situation, the entire process was carried out in a smooth way. Even the query raised was sorted out in a very short time with no hurdle. Every person involved in the inquiry procedures were courteous.

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Frequently Asked Questions

Given a loan amount of ₹20 lakhs, estimated interest rate of 8.50%*, and a tenure of 25 years, the approximate monthly EMI will be around ₹16,105. You can use online EMI calculators or spreadsheet software to easily compute the EMI.

For a home loan of ₹20 lakhs, an interest rate of 8.50%*, and a tenure of 20 years, the approximate monthly EMI is ₹17,356.

You can apply for a Home Loan for a duration of up to 30 years subject to you and your co-applicant’s age and retirement age.

The approval of a Home Loan depends on various factors such as your income, credit score, repayment capacity, value/cost of the property being funded and the lending institution's policies. To determine your eligibility for a ₹20 lakhs Home Loan, you should contact the bank and understand their application process.

To calculate the EMI (Equated Monthly Installment) for a ₹20 lakhs Home Loan, you need to consider the loan amount, interest rate, and tenure. Considering an interest rate of 8.50%* per annum, the EMI with a tenure of 30 years would be ₹15,378.

The ideal loan tenure for a ₹20 lakhs home loan depends on your ability to repay and preferences. Generally, longer tenures result in smaller EMIs, making it more manageable on a monthly basis. The Home Loan maximum tenure can extend up to 30 years, as well.

The approval of a home loan, including a ₹20 lakhs home loan, with a low credit score depends on several factors, and each lender may have different criteria. A low credit score may result in higher interest rates, which can significantly impact the cost of the loan over its term.

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Interest Rate Range for the past quarter for advances granted to individual borrowers

Individual Housing: (Jan-March 2023 Quarter)

Min (%)	Max (%)	Wt Avg. (%)	Mean (%)
8.30	13.50	8.80	9.88

Individual Non-Housing: (Jan-March 2023 Quarter)

Min (%)	Max (%)	Wt Avg. (%)	Mean (%)
8.35	15.15	9.20	10.32

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