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Rs. 60 Lakh Home Loan EMI

Get 60 lakh home loan at just 8.35% home loan interest for 30 years. Your Rs.60 lakh home loan EMI will only be Rs 46,135. Apply now to secure a 60 lakh home loan today and step closer to the house you've always wanted.

Best Home Loan Offers Starting @8.50% p.a.

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You are just a few clicks away from the best Home Loan offer in your city. Currently home loan interest rate starts at 8.35% 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.

Best Home Loan Offers Starting @8.50% p.a.

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Rs. 60 Lakh Home Loan EMI Details

A Rs 60 Lakh Home Loan is a big amount that requires a disciplined approach when fulfilling it. Before taking a loan of such a hefty amount, it's imperative to understand the specifics that come with it. 

Following are the details of Rs 60 Lakh home loan EMI for 5 years, 10 years, 15years, 20 years and 30 years tenure at a 8.35% p.a. interest rate:

EMI for a tenure of 5 yearsRs. 1,23,099
EMI for a tenure of 10 yearsRs. 74,391
EMI for a tenure of 15 yearsRs. 59,084
EMI for a tenure of 20 yearsRs. 52,069
EMI for a tenure of 30 yearsRs. 46,135

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Rs. 60 Lakh Home Loan Interest Rates - 2024

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 60 lakh home loan.

Bank NameInterest rate (%)Processing fee
HDFC Ltd8.55% - 9.10%Up to 0.50% of the loan amount + applicable taxes
HSBC Bank8.45%Up to 1.00% of the loan amount + applicable taxes
Kotak Mahindra Bank8.70%Up to 0.50% of the loan amount + GST 
IDFC Bank8.75%Upto Rs.3,000
PNB Housing Finance8.50%Up to 1% of loan amount + GST
Federal Bank8.80%0.50% of loan amount
Bajaj Finserv8.50% - 15.00%Up to 7% of loan amount + GST
L&T Housing Finance8.60% - 8.75%Up to 0.25% of loan amount + GST
ICICI Bank9.00% - 10.05%0.50% - 2.00% of the loan + applicable taxes

Check Best Home Loan Interest Rates starting @8.35% from different banks and NBFCs

60 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 60 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.

60 Lakh Home Loan EMI

Rs. 60 Lakh Home Loan EMI for 10 Years

The Rs. 60 Lakh home loan EMI for 10 years tenure at a 8.35% p.a. interest rate would come to Rs. 74,391. The EMI on an Rs. 60 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. 60 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. 60,00,000.00
Rate of Interest8.35% p.a.
Loan Tenure10 years
Loan EMIRs. 74,391
Total Interest Rs. 29,26,970
Total RepaymentRs. 89,26,970

You can also note the difference in total payable when you compare the minimum and maximum interest rate on your Rs 60 lakh home loan.

You can also check Home Loan EMI through SBI Home Loan EMI Calculator

EMI for Rs. 60 Lakhs Home Loan for 20 Years

The EMI for 60 Lakhs home loan for 20 years tenure at an 8.35% p.a. rate of interest will be Rs. 52,069. 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. 60 Lakhs Loan EMI, total Interest payable and total Repayment at 8.35% interest rates for 20 years tenure:

Rs. 60 Lakh Home Loan EMI for 20 Years
Loan AmountRs. 60,00,000.00
Rate of Interest8.35% p.a.
Loan Tenure20 years
Loan EMIRs. 52,069
Total Interest PayableRs. 64,96,655
Total Repayment (Principal + Interest)Rs. 1,24,96,655

EMI for Rs. 60 Lakhs Home Loan for 30 Years

The EMI for 60 Lakhs home loan for 30 years tenure at an 8.35% p.a. rate of interest will be Rs. 46,135. 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. 60 Lakhs Loan EMI, total Interest payable and total Repayment at 8.35% interest rates for 30 years tenure:

Rs. 60 Lakh Home Loan EMI for 30 Years
Loan AmountRs. 60,00,000.00
Rate of Interest8.35% p.a.
Loan Tenure30 years
Loan EMIRs. 46,135
Total Interest PayableRs. 1,06,08,531
Total Repayment (Principal + Interest)Rs. 1,66,08,531

Factors affecting your Rs 60 lakh home loan EMI

The factors that affect Rs. 60 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.

Check out the eligibility and benefits of LRD Loan.

Eligibility for Rs. 60 Lakh Home Loan

Home loan eligibility differs from one bank to the other based on several factors. However, there are several common points that are taken into consideration by all banks and financial institutes in India while reviewing your loan application.

The following are the general Home Loan Eligibility Criteria to qualify for an Rs 60 lakh Home Loan.

  • The applicant should be in the age bracket of 21 years to 60 years if salaried and 21 years to 65 years if self-employed.
  • The minimum income required will be between Rs. 60000/- to Rs. 70000/-
  • Salaried individuals should have a minimum work experience of 2 years, and the self-employed should show a minimum business existence of 3 years.
  • The debt to income ratio should be between 40% to 50%.
  • The minimum credit score required will be 650 to 750

General eligibility criteria for 60 lakh home loan is as follows:

Listed below are certain parameters and the common eligibility criteria for your Rs 60 lakh home loan:

ParametersSalariedSelf-employed
Age18-65 yrs21-65 yrs
Work experienceMinimum 3 yrsAt least 3 yrs of business continuity
Monthly/ Yearly incomeMinimum Rs 50,000At least Rs 7,20,000 annually

You can also check SBI Home Loan Eligibility Online through MyMoneyMantra

Documents Required for Rs. 60 Lakh Home Loan

You need the following documents to apply for an Rs 60 Lakhs home loan:

  • Home loan application form - duly filled in & signed.
  • Recent photographs in passport size.
  • Identity proof: Aadhaar Card/ Driving License/ Passport/ Voter ID, etc.
  • Address proof: Aadhaar Card/ Driving License/ Passport/ Voter ID, etc.
  • Age proof: Birth Certificate/ Class 10th Certificate, etc.
  • Bank statements of the last 6 months.
  • Latest Form 16/ Income Tax Return.
  • Balance Sheet and P&L Statement of the previous 3 years certified by a CA certified for self-employed applicants.
  • Business profile of self-employed applicants.
  • Processing fee cheque.

Check The Latest Best Home Loan Interest Rates

How to Apply Up to Rs. 60 Lakh Home Loan?

The step-by-step process to apply for a home loan of Rs 60 Lakhs 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.

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

Best Value Home Loans

MyMoneyMantra is India’s largest phygital loan distributor. With trust of 70 lakh customers, we assure hassle free access to the best Home Loans up to 10 crore for housing loan borrowers in India. Our service is 100% free. We use latest technology and AI to serve customers across the length & breadth of our diverse country. Check Eligibility & Apply.

60 Lakh Home Loan EMI FAQs

✅ What is the EMI for a Rs. 60 lakhs home loan?

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Your Rs 60 lakh home loan EMI will vary depending on the tenure that you take the loan for. A shorter tenure will have more EMI than a long tenure. 

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

Interest Rate p.a.EMI for 30 years tenure (in Rs.)
8.50%46,135
8.75%47,202
9.15%48,926

✅ What is the minimum salary required for a Rs. 60 Lakh home loan?

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You will get a home loan of around 60 times your salary. For example if your salary is Rs 1 lakh and you pay EMIs of Rs 25000 then the workable amount will be Rs 75000 for which you will be granted a loan. Similarly in order to avail a home loan of Rs 60 lakhs your salary must be between Rs 90,000 to Rs 95,000  per month so that you can pay the EMI on your home loan comfortably.

✅ What is 60 lakh home loan EMI for 30 years from Bajaj Finserv Bank?

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Bajaj Finserv offers home loan at an annual interest of 8.50% - 15.00%.

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

Interest Rate p.a.EMI for 10 yrs (in Rs.)EMI for 20 yrs (in Rs.)EMI for 30 yrs (in Rs.)
8.50%74,39152,06946,135
14%93,16074,61171,092

✅ What is 60 lakh home loan EMI for 30 years from Kotak Bank?

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Kotak bank offers home loans at an annual interest rate ranging from 8.70%

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

Interest Rate p.a.EMI for 10 yrs (in Rs.)EMI for 20 yrs (in Rs.)EMI for 30 yrs (in Rs.)
8.70%75,03552,83146,988
8.95%75,84353,79148,062

✅ What salary is required for a Rs. 60 lakhs home loan?

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In order to get a home loan of Rs 60 lakhs your salary should be such that you are able to pay the EMI easily. The lowest EMI for Rs 60 lakhs  home loan comes out to be Rs 46,135 (at 8.35% p.a. for 30 yrs). So, naturally you need to earn somewhere between Rs 90,000 to Rs 95,000 per month.

✅ How much home loan can I get on a 50000 salary?

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Experts reveal that you can get upto 60 times your salary as home loan provided you do not have any mandatory liabilities to pay every month. Going by that logic you can be eligible for an amount Rs 25 lakhs to Rs 30 lakhs based on your salary.