You are just a few clicks away from the best Home Loan offer in your city. Currently home loan interest rate starts at 8.50% p.a for all loan amounts. Share your name, mobile number & email to check your eligibility and get a list of most affordable home loan schemes.
When applying for a 30 Lakh home loan, do thorough research to find the best loan options with competitive interest rates and use a home loan EMI calculator to estimate your monthly payments. Ensure the EMI fits within your budget and does not exceed 40% of your net salary. Once approved, you'll have the option to choose your loan tenure, which typically ranges from 20 to 30 years, and can be reduced in the future through prepayments. Make your home ownership dreams a reality by taking the first step towards a 30 Lakh home loan EMI today.
Loan Amount (in Rs) | Interest Rate (p.a.) | Tenure | EMI |
---|---|---|---|
Rs. 30,00,000.00 | 8.50% | 5 Years | Rs. 61,550 |
Rs. 30,00,000.00 | 8.50% | 10 Years | Rs. 37,196 |
Rs. 30,00,000.00 | 8.50% | 15 Years | Rs. 29,542 |
Rs. 30,00,000.00 | 8.50% | 20 Years | Rs. 26,035 |
Rs. 30,00,000.00 | 8.50% | 30 Years | Rs. 23,067 |
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With a lot of players in the market, providing home loans with interest differs from lender to lender. The rate of interest will depend on the loan amount, the CIBIL score, the internal rating and the occupation.
Given below is the list of competitive interest rates for Rs. 30 lakh home loan EMI with different banks. The rate of interest is slab-wise, and all the top banks have the lowest interest rates for a loan quantum up to Rs. 30 to 35 lakhs. The EMI is calculated for a tenure of 30 years for different interest rates within the slab stipulated for each bank.
Name of the Bank | Interest Rate |
---|---|
HDFC Home Loan | 8.50% - 9.00% |
HSBC Bank Home Loan | 8.60% - 8.85% |
Kotak Mahindra Home Loan | 8.85% - 9.40% |
IDFC Bank Home Loan | 8.85% - 9.25% |
PNB Housing Finance Loan | 8.75% - 11.15% |
Federal Bank Home Loan | 10.15% - 10.30% |
Bajaj Finserv Home Loan | 8.50% - 14.00% |
L&T Housing Finance Loan | 8.60% - 8.75% |
SBI Home Loan | 9.15% - 9.65% |
ICICI Bank Home Loan | 9.00% - 10.05% |
Since a home loan is a big-ticket loan, even a small difference in interest rates can impact the cost of the loan. Since the slab-wise interest rate is applied, you should ensure the rate that will be offered to you before submitting the application.
Check Best Home Loan Interest Rates starting @8.50% from different banks and NBFCs
The Rs. 30 Lakh home loan EMI for 10 years tenure at a 8.50% p.a. interest rate would come to Rs. 37,196. The EMI on an Rs. 30 Lakhs Home Loan for a tenure of 10 years varies from lender to lender based on the interest rate offered and the borrower’s eligibility.
Below is the table for Rs. 30 Lakhs Loan EMI, total Interest payable and total Repayment at 8.50% interest rates for 10 years tenure:
Rs. 30 Lakh Home Loan EMI for 10 Years | |
---|---|
Loan Amount | Rs. 30,00,000.00 |
Rate of Interest | 8.50% p.a. |
Loan Tenure | 10 years |
Loan EMI | Rs. 37,196 |
Total Interest | Rs. 14,63,485 |
Total Repayment | Rs. 44,63,485 |
You can also check Home Loan EMI through SBI Home Loan EMI Calculator
The EMI for 30 Lakhs home loan for 20 years tenure at an 8.50% p.a. rate of interest will be Rs. 26,035. The EMI varies from lender to lender based on the rate of interest offered and the borrower’s profile.
Below is the table for Rs. 30 Lakhs Loan EMI, total Interest payable and total Repayment at 8.50% interest rates for 20 years tenure:
Rs. 30 Lakh Home Loan EMI for 20 Years | |
---|---|
Loan Amount | Rs. 30,00,000.00 |
Rate of Interest | 8.50% p.a. |
Loan Tenure | 20 years |
Loan EMI | Rs. 26,035 |
Total Interest Payable | Rs. 32,48,327 |
Total Repayment (Principal + Interest) | Rs. 62,48,327 |
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EMI for 30 Lakhs home loan for 30 years tenure will be Rs. 23,067 at an interest rate of 8.50% p.a. The EMI can vary depending on the lender’s policy, the interest rate offered by the lender and the borrower’s eligibility. You can use the EMI Calculator available on our website for calculating the EMI for Rs. 30 Lakhs home loan for various tenures and interest rates.
Below is the table for Rs. 30 Lakhs Loan EMI, total Interest payable and total Repayment at 8.45% interest rates for 30 years tenure:
Rs. 30 Lakh Home Loan EMI for 30 Years | |
---|---|
Loan Amount | Rs. 30,00,000 |
Rate of Interest | 8.50% p.a. |
Loan Tenure | 30 years |
Loan EMI | Rs. 23,067 |
Total Interest Payable | Rs. 53,04,266 |
Total Repayment (Principal + Interest) | Rs. 83,04,266 |
By taking these factors into consideration, you can have a better understanding of the 30 Lakh Home Loan EMI and choose the right loan option that fits your budget and financial goals.
The eligibility criteria for a 30 Lakh home loan may vary depending on the lender and the applicant's individual financial profile. However, the following are some of the commonly considered factors by most financial institutions:
You can also check SBI Home Loan Eligibility Online through MyMoneyMantra
Documents to establish the identity, whereabouts and income of the applicant are required along with the property documents to ensure the marketable title of the property. The list of Home Loan Documents Required is given below:
Address Proof: (anyone)
Photo Identity Proof: (anyone)
Proof of business existence in the case of the self-employed
Income Proof for Salaried Individuals
Income Proof for the Self-Employed
Property Documents
The property documents list is exhaustive, and the lender you approach for the home loan may demand additional documents depending on the nature of the property.
You can also Check Pan Numbers for Home Loan of All Banks Online
Follow the procedure given below to apply for a Rs. 30 lakh home loan:
Check out the procedure of How to Apply for Pradhan Mantri Awas Yojana Online
The EMI for Rs. 30 lakh home loan will depend on the rate of interest and the tenure chosen. If the rate of interest is 8.50%% and the tenure is 20 years, then the EMI will be Rs. 26,035. You can easily calculate the EMI with a home loan EMI calculator by providing the loan amount, tenure and interest rate.
The minimum salary required for an Rs. 30 lakh home loan will range between Rs. 45000 to Rs. 50000.
The rate of interest for an SBI home loan starts at 9.15% - 9.65%. Rs. 30 lakh home loan EMI for 30 years at 9.15% - 9.65% will be Rs. 24,463/-
A minimum of Rs. 45000 to Rs. 50000 will be required to qualify for a 30 lakh home loan.
The eligible home loan is calculated at 48 months to 60 months' gross salary. You will be able to get a home loan between Rs. 10 lakhs to Rs. 12 lakhs provided you satisfy all eligibility criteria stipulated for the home loan.