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30 Lakh Home Loan EMI

Get 30 lakh home loan at just 8.35% home loan interest for 30 years. Your Rs.30 lakh home loan EMI will only be Rs 23,067. Apply now to secure a 30 lakh home loan today and step closer to the house you've always wanted.

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30 Lakh Home Loan EMI Details

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 an EMI for 30 Lakh Home Loan today.

30 Lakh House Loan EMI for 5, 10, 15, 20 and 30 Years

Loan Amount (in Rs)Interest Rate (p.a.)TenureEMI
Rs. 30,00,000.008.35%5 YearsRs. 61,550
Rs. 30,00,000.008.35%10 YearsRs. 37,196
Rs. 30,00,000.008.35%15 YearsRs. 29,542
Rs. 30,00,000.008.35%20 YearsRs. 26,035
Rs. 30,00,000.008.35%30 YearsRs. 23,067

You can also Check Loan Against Property Interest Rate for lowest LAP Interest Rates.

HDFC Home Loan Offer

30 Lakh Home Loan EMI with Different Banks & NBFCs Interest Rates

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 lacs 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 BankInterest RateEMI*
HDFC Home Loan8.55% - 9.10%Rs. 23,067
HSBC Bank Home Loan8.45%Rs. 22,961
Kotak Mahindra Home Loan8.70%Rs. 23,494
IDFC Bank Home Loan8.75%Rs. 23,601
PNB Housing Finance Loan8.50%Rs. 23,067
Federal Bank Home Loan8.80%Rs. 23,708
Bajaj Finserv Home Loan8.50% - 15.00%Rs. 23,067
L&T Housing Finance Loan8.60% - 8.75%Rs. 23,280
SBI Home Loan8.40% - 10.05%Rs. 22,855
ICICI Bank Home Loan9.00% - 10.05%Rs. 24,139

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.

Compare Best Home Loan Interest Rates starting @8.35% from multiple Banks and NBFCs.

30 Lakh Home Loan EMI Calculator

Every Home Loan EMI is subject to the loan amount sanctioned, the applicable interest rate and the selected repayment tenure. Home Loan EMI for a Rs 30 lakh home loan can be easily calculated through the Home Loan EMI calculator within a minute. MyMoneyMantra Home Loan EMI calculator can provide you the exact Home Loan EMI for the selected Home Loan amount, tenure and rate of interest. 

You’re just required to enter the desired home loan, the tenure in which you wish to repay the Home Loan and the interest rate quoted by the bank or housing financier. With MyMoneyMantra’s Home Loan EMI calculator, you can ascertain your monthly repayments before you take a Home Loan.

Home Loan EMI

Rs. 30 Lakhs Home Loan EMI for 10 years

The Rs. 30 Lakh home loan EMI for 10 years tenure at a 8.35% 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 8.35% interest rates for 10 years tenure:

Rs. 30 Lakh Home Loan EMI for 10 Years
Loan AmountRs. 30,00,000.00
Rate of Interest8.35% p.a.
Loan Tenure10 years
Loan EMIRs. 37,196
Total Interest Rs. 14,63,485
Total RepaymentRs. 44,63,485

Rs. 30 Lakhs Home Loan EMI for 20 years

The EMI for 30 Lakhs home loan for 20 years tenure at an 8.35% 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 8.35% interest rates for 20 years tenure:

Rs. 30 Lakh Home Loan EMI for 20 Years
Loan AmountRs. 30,00,000.00
Rate of Interest8.35% p.a.
Loan Tenure20 years
Loan EMIRs. 26,035
Total Interest PayableRs. 32,48,327
Total Repayment (Principal + Interest)Rs. 62,48,327

You can also use Loan Prepayment Calculator to find out how much you will save on interest and how it affects your Loan EMI.

Rs. 30 Lakhs Home Loan EMI for 30 years

EMI for 30 Lakhs home loan for 30 years tenure will be Rs. 23,067 at an interest rate of 8.35% 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 of EMI for home loan of 30 lakhs, total Interest payable and total Repayment at 8.50% interest rates for 30 years tenure:

Rs. 30 Lakh Home Loan EMI for 30 Years
Loan AmountRs. 30,00,000
Rate of Interest8.35% p.a.
Loan Tenure30 years
Loan EMIRs. 23,067
Total Interest PayableRs. 53,04,266
Total Repayment (Principal + Interest)Rs. 83,04,266

Factors that affect your 30 Lakh Home Loan EMI

  • Interest rate type:
    • The type of interest rate can have a significant impact on the EMI.
    • Fixed interest rate offers a constant EMI, but the rate may not be as favorable as floating or mixed interest rates.
    • Floating interest rate fluctuates based on changes in RBI policy, potentially leading to higher or lower EMIs.
    • Mixed interest rates begin with a fixed rate, which then switches to a floating rate, giving the borrower some stability in the beginning.
  • Loan to value ratio:
    • The loan to value ratio, or the percentage of the property's market value that is being loaned, can also affect the EMI.
    • Higher margins mean lower risk for the bank, which can lead to more favorable interest rates and lower EMIs.
  • Location of the property:
    • The location of the property being purchased also has an impact on the EMI.
    • Properties in areas with high resale value and good amenities are seen as more secure investments by the bank, which can result in lower interest rates and therefore, lower EMIs.
  • Tenure:
    • The length of the loan repayment period can also have an effect on the EMI.
    • Choosing a shorter tenure will generally result in a higher EMI, while a longer tenure will result in a lower EMI.
    • However, it's important to keep in mind that a longer tenure also means paying more in interest over time.
  • Repayment history:
    • A borrower's repayment history, including any late payments or defaults, can also impact the EMI.
    • Borrowers with a good repayment history are seen as low-risk by lenders, which can result in lower interest rates and a lower EMI.
  • Personal income and expenses:
    • An individual's net take-home salary and monthly expenses are also key factors that impact the EMI.
    • It is recommended that the EMI should not exceed 40% of the borrower's net take-home salary, to ensure they have enough funds to cover their other expenses and any unexpected emergencies.

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.

Check out the eligibility and benefits of LRD Loan.

What is the Eligibility for a Rs 30 lakh Home Loan?

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:

  1. Age: The applicant's age must be between 21 to 60 years or as per the lender's guidelines.
  2. Income: The applicant must have a steady and stable income that meets the minimum required income threshold set by the lender.
  3. Employment: Most lenders require the applicant to be either a salaried employee or a self-employed individual with a stable income.
  4. Credit score: A good credit score, typically over 750, is necessary to increase the chances of loan approval and getting a competitive interest rate.
  5. Property value: The property must be valued by the lender and the loan amount must not exceed the property's market value.
  6. Loan to value ratio: The loan amount must not exceed a certain percentage of the property's market value, usually between 75% to 90%.
  7. Repayment capacity: The applicant's EMI must not exceed a certain percentage of their net monthly income.

You can also check SBI Home Loan Eligibility Online through MyMoneyMantra

What are the Documents Required for a 30 lakh Home Loan?

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)

  • PAN Card
  • Aadhar Card
  • Passport
  • Driving Licence
  • Voter's ID Card

Proof of business existence in the case of the self-employed

  • PAN Card of the Company/firm
  • GST Certificate
  • Partnership Deed (For Partnership Firm)
  • Articles of Association
  • Memorandum of Association
  • Trade Licence

Income Proof for Salaried Individuals

  • Salary slips for the last three months
  • Form 16
  • IT Returns
  • Bank statement of the salary account for the last six months

Income Proof for the Self-Employed

  • Audited Financial Statements like the Balance Sheet and Profit and Loss Accounts for the last two years.
  • IT Returns for the last two years
  • Bank Statement for the last year.

Property Documents

  • Copy of Absolute Sale Deed or Agreement of Sale (depending on the property type)
  • Copy of the possession certificate
  • Latest Tax Paid Receipt
  • Copy of Encumbrance certificate for the last 13 years.
  • Copy of Khata Certificate
  • Copy of Mother documents (flat purchase)
  • NOC from the housing society or the builder
  • Detailed estimate for construction
  • Occupancy certificate in the case of ready flats.

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.

Compare Lowest Interest from multiple banks and Calculate Rs. 60 Lakh Home Loan EMI Online

How to Apply Up to Rs. 30 Lakh Home Loan?

Follow the procedure given below to apply for a Rs. 30 lakh home loan:

  • Access the official website of the bank/financial institution.
  • Choose a home loan under the loans option.
  • Click on the 'Apply Online' tab.
  • You will be directed to the page where you will have to fill up the basic personal details like name, address, email ID, contact number etc.
  • An OTP will be sent to your mobile number.
  • Enter the OTP for verification
  • Choose the loan amount and tenure.
  • You will be directed to the page where you will have to provide the employment, income and property details.
  • On completion, click on the 'submit' button.

Check out the procedure of How to Apply for Pradhan Mantri Awas Yojana Online

30 Lakh Home Loan EMI FAQs

✅ What is the EMI for an Rs. 30 lakhs home loan?

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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 8.35% and the tenure is 20 years, then the EMI will be Rs. 26,035. You can easily calculate the EMI with a 30 Lakh Home loan EMI Calculator by providing the loan amount, tenure and interest rate.

✅ Who is eligible for 30 lakh loan?

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Resident Indians aged between 18 to 70 years and earning a regular income are eligible for 30 lakh loan at SBI.

✅ What is the monthly interest of 30 lakh in SBI?

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SBI home loan interest rate on 30 lakhs loan starts from 8.40% - 10.05% per annum. 

✅ What is the monthly EMI for 30 lakhs home loan?

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The monthly EMI for Rs. 30 Lakhs home loan for 30 years tenure will be Rs. 23,067 at an interest rate of 8.35% p.a. The EMI can vary depending on various factore, such as the lender's policy, the interest rate offered, tenure, and the borrower's eligibility.

✅ What is the minimum salary required for an Rs. 30 Lakh home loan?

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The minimum salary required for an Rs. 30 lakh home loan will range between Rs. 45000 to Rs. 50000.

✅ Is SBI home loan below 30 lakhs?

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SBI offers home loan up to 90% of the assessed value of the property.

✅ What is 30 Lakh Home Loan EMI for 10 years SBI?

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The SBI Home loan Interest Rates starts at 8.40% - 10.05%. Rs. 30 lakh home loan EMI for 10 years at 8.40% - 10.05% will be Rs. 37,035/-

✅ How much home loan can I get on 25000 salaries?

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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. 13 lakhs provided you satisfy all eligibility criteria stipulated for the home loan.

✅ What is the interest rate on 30 lakhs?

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HDFC home loan interest rate on 30 lakhs loan starts from 8.55% - 9.10% p.a.

✅ What is 8% interest on 3000000?

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If you take a Rs. 3,00,000 loan for 5 years tenure at 8% p.a. interest rate, your total interest will be Rs. 60,829. The interest varies depending on the tenure of the loan.

✅ What is the EMI for 30 Lakh Home Loan for 20 Years?

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The HDFC Home loan Interest Rate starts at 8.55% - 9.10%. Rs. 30 lakh home loan EMI for 20 years at 8.55% - 9.10% will be Rs. 26,035/-

✅ How much EMI for 30 Lakh Home Loan?

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EMI for 30 lakh home loan depends on various factors including the applicable interest rate, tenure offered, and borrower’s eligibility.

✅ Can FD reduce my home loan interest rate?

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No, a Fixed Deposit (FD) does not directly reduce your home loan interest rate. The interest rate on a home loan is determined by the lender based on various factors like market conditions, creditworthiness, and loan tenure. However, some banks offer loan interest rate concessions or special offers to customers who maintain a high-value FD with them. While it won't directly lower your interest rate, having an FD might make you eligible for certain preferential treatment or benefits from the bank when negotiating your home loan terms.