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Rs. 2 Crore Home Loan EMI

A Rs 2 Crore home loan is a big amount. You will not only need to check your eligibility but also the Rs 2 crore home loan EMI that you can comfortably pay in 10, 20 or 30 yrs. The EMI for a Rs 2 Crore home loan at 7.20%p.a for 30 yrs is Rs 1,35,758.

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Rs. 2 Crore Home Loan EMI Details

Paying your home loan EMI is the first thing that you pay once your salary gets credited. It is very important to take into account the magnitude of your home loan EMI beforehand taking a loan of big amount as Rs 2 Crore.

Following are the details of Rs 2 Crore home loan EMI for 10 years, 20 years and 30 years tenure at a 7.20% p.a. interest rate:

EMI for a tenure of 10 yearsRs 2,34,284
EMI for a tenure of 20 yearsRs 1,57,470
EMI for a tenure of 30 yearsRs 1,35,758

Additional Info: Looking for 75 Lakh Home Loan? Check EMI & Apply

Rs. 2 Crore Home Loan Interest Rates - 2022

Below list shows the Home Loan Interest Rates for various banks along with their minimum and maximum interest rate per annum that they offer on a Rs 2 Crore home loan.

BanksMinimum Interest RateMaximum Interest Rate
State Bank of India7.55% 8.25%
Bajaj Finserv7.20% 14%
PNB Housing Finance Ltd.7.65% 9.20%
Bank of Maharashtra7.30% 9.20%
Kotak Mahindra Bank7.50% 8%
HDFC Bank7.55% 8.55%
Axis Bank7.60% 12%
ICICI Bank7.60% 8.45%
Tata Capital 7.75% 9.20%
Federal Bank8.55% 8.70

Additional Info: Looking for 30 Lakh Home Loan? Check EMI & Apply

Popular Banks Providing Rs. 2 Crore Home Loan

Some of the best banks that offer home loans of Rs 2 Crores are:

  • State Bank of India
  • HDFC Bank
  • ICICI Bank
  • Kotak Mahindra Bank
  • Punjab National Bank
  • Bank of Baroda
  • Bank of Maharashtra
  • Federal Bank
  • Axis Bank

The interest rate for the loan of Rs. 2 Crores starts from 7.20% p.a. at present, and it may differ from lender to lender for different borrowers based on their income, credit score, gender, and other eligibility factors. Upon doing your Home Loan Eligibility check the maximum interest rate that you can be offered is around 14% but that is for a few cases where the credit score of the applicant is quite poor.

Additional Info: Looking for Best Banks For Personal Loan?

Rs. 2 Crore Home Loan EMI with Different Banks

Below is the table for Rs 2 Crore home loan EMI for different banks for 10, 20 and 30 years using the Rs 2 Crores Home Loan EMI Calculator:

Bank/NBFCRate of InterestEMI for 10 YearsEMI for 20 YearsEMI for 30 Years
State Bank of India7.55% - 8.25% p.a.Rs 2,37,926 - Rs 2,45,305Rs 1,61,731 - Rs 1,70,4131,40,528 - Rs 1,50,253
Bajaj Finserv7.20% - 14% p.a.Rs 2,34,284 - Rs 3,10,533 Rs 1,57,470 - Rs 2,48,804Rs 1,35,758 - Rs 2,36,934
PNB Housing Finance Ltd.7.65% - 9.20% p.a.Rs 2,38,972 - Rs 2,55,521Rs 1,62,958 - Rs 1,82,526Rs 1,41,903 - Rs 1,63,811
Bank of Maharashtra7.30% to 9.20% p.a.Rs 2,35,321 - Rs 2,55,521 Rs 1,58,682 - Rs 1,82,526Rs 1,37,114 - Rs 1,63,811
Kotak Mahindra Bank7.50% to 8% p.a.Rs 2,37,404 - Rs 2,42,655Rs 1,61,119 - Rs 1,67,288Rs 1,39,843 - Rs 1,46,753
HDFC Ltd7.55% - 8.55% p.a.Rs 2,37,926 - Rs 2,48,507Rs 1,61,731 - Rs 1,74,198Rs 1,40,528 - Rs 1,54,492
ICICI Bank7.60% to 8.45% p.a.Rs 2,38,449 - Rs 2,47,437Rs 1,62,344 - Rs 1,72,932Rs 1,41,215 - Rs 1,53,075
Citibank6.95% - 7.25% p.a.Rs 2,31,702 - Rs 2,34,802Rs 1,54,460 - Rs 1,58,075Rs 1,32,390 - Rs 1,36,435
Indian Bank7.30% - 8.80% p.a.Rs 2,35,321 - Rs 2,51,192Rs 1,58,682 - Rs 1,77,381Rs 1,37,114 - Rs 1,58,055
Bank of Baroda7.45% - 8.80% p.a.Rs 2,36,882 - Rs 2,51,192Rs 1,60,508 - Rs 1,77,381Rs 1,39,159 - Rs 1,58,055

Additional Info: Also check Pan Number for Banks

Rs. 2 Crore Home Loan EMI for 10 Years

Taking a home loan of an amount as big as Rs 2 crores requires financial discipline. More so when you plan to take it for a tenure of 10 yrs .

Following table depicts different EMIs on Rs. 2 Crores loan for different interest rates for a tenure of 10 yrs.

Rate of Interest (p.a.)EMI for 10 yrs tenure (in Rs.)Total interest (in Rs.)Total Outgo (in Rs.)
7.20%2,34,28481,14,1542,81,14,154
7.50%2,37,40484,88,4252,84,88,425
7.65%2,38,97286,76,6672,86,76,667
7.80%2,40,54788,65,6102,88,65,610
8.55%2,48,50798,20,7832,98,20,783

You can also note the difference in total interest and total amount payable when you compare the minimum and maximum interest rate on your Rs 2 Crore home loan.

EMI for Rs. 2 Crore Home Loan for 20 years

This is the most likely tenure which many of you will go for. Why? because it is a balance between home loan EMI and the overall home loan interest amount that you will pay at the end of the tenure.

Below is the table depicting different EMIs on Rs. 2 Crores loan at the different interest rates for 20 years tenure: 

Rate of Interest (p.a.)EMI for 20 yrs tenure (in Rs.)Total interest (in Rs.)Total Outgo (in Rs.)
7.20%1,57,4701,77,92,7663,77,92,766
7.50%1,61,1191,86,68,4733,86,68,473
7.65%1,62,9581,91,09,9183,91,09,918
7.80%1,64,8071,95,53,7303,95,53,730
8.55%1,74,1982,18,07,5394,18,07,539

2 Crores Home Loan EMI for 30 Years

The highest tenure that banks or any lending institution will grant you is 30 yrs. Be mindful that in this tenure you will accrue the lowest EMI but your overall payment to the bank will increase. So always go for that tenure for which your Rs 2 Crore home loan EMI fits within your budget. For this, you can use our home loan EMI calculator to assess and see how much monthly EMI you will have to pay on your 2 crores home loan.

Below is the table of different EMIs on Rs 2 Crores loan at the different interest rates for 30 years tenure: 

Rate of Interest (p.a.)EMI for 30 yrs tenure (in Rs.)Total interest (in Rs.)Total Outgo (in Rs.)
7.20%1,35,7582,88,72,7514,88,72,751
7.50%1,39,8433,03,43,4455,03,43,445
7.65%1,41,9033,10,85,0315,10,85,031
7.80%1,43,9743,18,30,6765,18,30,676
8.55%1,54,4923,56,17,1075,56,17,107

Factors Affecting your Rs 2 Crore Home Loan EMI

The factors that affect Rs. 75 lakh home loan EMI are:

  • Income: Individuals employed in Central/State Government organisations and Public Sector Organisations have guaranteed income. The interest rates for loans to these individuals will be comparatively lower, and the cost of the loan will also be lower.
  • Interest type: If you have chosen a fixed interest rate, then the rate of interest will be 1 to 2% higher than the floating interest rate. As per current trend it is advisable to go for a fixed interest rate initially for 3 yrs and then switch to floating rate of interest.
  • LTV Ratio: The rate of interest charged depends on the LTV Ratio. Banks normally provide 80% of the market value of the property as a home loan. The higher the margin, the lower will be the interest rate as the risk associated will be lower for the lender. With a better interest rate, the EMI will also be lower.
  • Tenure: A longer tenure will lead to a higher EMI and vice versa.

Eligibility for Rs 2 Crore Home Loan

You have to meet the following Home Loan Eligibility Criteria to be eligible to avail of a home loan of Rs. 2 Crore:

Eligibility for Salaried Applicants

  • Applicants should be Indian residents.
  • Applicants should be aged between 18 to 65 years.
  • Applicants should have at least 3 years of work experience.
  • Applicants should be earning a monthly income of at least Rs 3,20,000.

Eligibility for Self-employed Applicants

  • Applicants should be Indian residents.
  • Applicants should be aged between 18 to 65 years.
  • Applicants should have a profitable business for at least the last 5 years.

Additional Info: You can also Check Banglarbhumi West Bengal Land Record

Documents Required for Rs 2 Crore Home Loan

You will have to submit the following documents to apply for Rs 2 Crore home loan:

  • Duly filled and signed home loan application form.
  • Recent passport-sized photographs of the applicant.
  • Identity proof like Aadhaar Card, Passport, Driving License, Voter ID, etc.
  • Address proof like Aadhaar Card, Passport, Driving License, Voter ID, etc.
  • Age proof like Birth Certificate, Class 10th Certificate, etc.
  • Bank statements of the last 6 months.
  • Processing fee cheque.
  • Form 16 or Income Tax Return.
  • CA certified Balance Sheet and Profit & Loss Statement of last 3 years for self-employed applicants.
  • Business profile of self-employed applicants.

How to Apply Up to Rs 2 Crore Home Loan Loan?

The step-by-step process to apply for a home loan of Rs 2 Crores is given below:

  • Visit our website and click on the ‘Home Loan’ that is mentioned under the ‘Loans’ section.
  • Fill out the online application accurately by entering all the details as required.
  • Enter the ‘OTP’ received on your registered mobile number.
  • Then click on the ‘Submit’ button to view the best home loan offer quotes.
  • Home loan offers from our partner lenders will be displayed on your screen according to the information entered by you.
  • Choose the lender preferred by you and apply online.
  • Our home loan experts will connect with you soon regarding the completion of your home loan process.

Best Value Home Loans

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Rs. 2 Crore Home Loan EMI FAQs

✅ What is the EMI for Rs. 2 crore home loan?

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Your Rs 2 crore home loan EMI will vary depending on the tenure that you take the loan for

Let’s have a look at the different EMIs for different tenures along with different interest rates

Interest Rate p.a.EMI for 20 yrs tenure (in Rs.)EMI for 30 years tenure (in Rs.)
7.20%1,57,4701,35,758
7.50%1,61,1191,39,843
7.80%1,64,8071,43,974

✅ What is the minimum salary required for a Rs. 2 Crore home loan?

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Any home loan gets approved for the amount which is 60 times the amount that is free from any liabilities in your salary. For example if your salary is Rs 1 lakh and you pay EMIs of Rs 15000 then the workable amount will be Rs 85000 for which you will be granted a loan. Similarly in order to avail a home loan of Rs 2 crores your salary must be between Rs 3 to 4 lakhs per month so that you can pay the EMI on your home loan comfortably.

✅ What is 2 Crore home loan EMI for 20 years from HDFC Bank?

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HDFC bank is offering home loans currently at an interest rate range of 7.55% to 8.05%

Below table depicts the EMIs for both the minimum and maximum interest rates for home loan offered by HDFC

Interest Rate p.a.EMI for 10 yrs (in Rs.)EMI for 20 yrs (in Rs.)EMI for 30 yrs (in Rs.)
7.55%2,37,9261,61,7311,40,528
8.05%2,43,1841,67,9111,47,451

✅ What is 2 Crore Home Loan EMI for 30 years from SBI Bank?

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SBI is offering home loans at an annual interest rate of 7.55% to 8.25%

Check out the table below to find out the respective EMI of Rs 2 Cr home loan for 30 years and other tenure

Interest Rate p.a.EMI for 10 yrs (in Rs.)EMI for 20 yrs (in Rs.)EMI for 30 yrs (in Rs.)
7.55%2,37,9261,61,7311,40,528
8.25%2,45,3051,70,4131,50,253

✅ What is 2 Crore home loan EMI for 30 years from Bank of Baroda?

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Bank of Baroda offers home loans at an annual interest rate of 7.45% to 8.80%

Check out the table below to find out the respective EMI of Rs 2 Cr home loan for 30 years and other tenures

Interest Rate p.a.EMI for 10 yrs (in Rs.)EMI for 20 yrs (in Rs.)EMI for 30 yrs (in Rs.)
7.45%2,36,8821,60,5081,39,159
8.80%2,51,1921,77,3811,58,055

✅ What salary is required for a 2 Crore home loan?

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As you know that in order to get a home loan of Rs 2 crores your salary should be such that you are able to pay the EMI without any difficulty. The lowest EMI for Rs 2 Cr home loan comes out to be Rs 1,35,758 (at 7.20% p.a. for 30 yrs). So, naturally you need to earn somewhere between Rs 3 to 4 lakhs per month in order to afford this loan.

✅ How much home loan can I get on 100000 salary?

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You can get upto 60 times your workable salary. By workable salary, we mean the amount which is left after all the EMI and bills deduction from your take home salary. If we assume it to be Rs 100000 then you can get a home loan of around Rs 70 lakhs to Rs 80 lakhs depending on your credit worthiness.