Rs. 80 Lakh Home Loan EMI

Rs. 80 Lakh Home Loan is a long-term commitment. It is crucial to understand the pros and cons of such a huge Home Loan amount before applying for one. The EMI for a Rs. 80 Lakhs home loan may vary depending on the interest rate and tenure of the loan.

Following are the details of EMI for 80 Lakhs home loan for 30 years, 20 years and 10 years tenure at an interest rate of 7.90% p.a.

Additional Info: Also check Home Loans in Delhi - NCR

There are many banks, non-banking financial companies (NBFCs), housing finance companies (HFCs) and other financial institutions that offer home loan of Rs. 80 Lakhs at different interest rates. Following is the table for the Home Loan Interest Rates of top 10 banks and NBFCs for a home loan of Rs. 80 Lakhs:

There are many banks and NBFCs that provide Rs. 80 Lakhs home loan in India. Some of the best banks offering a housing loan of Rs. 80 Lakhs are ICICI Bank, HDFC Bank, Kotak Mahindra Bank, State Bank of India, Bank of Maharashtra, Federal Bank, Axis Bank, Punjab National Bank, Bank of Baroda, and so on. The sanctioned home loan amount can be used for various housing-related purposes including the purchase of a flat, plot, or under-construction property. The interest rate for a Rs. 80 Lakhs home loan start from 7.90% p.a. at present. The rate of interest varies from lender to lender depending on the borrower’s eligibility and requirement.

Additional Info: Also check Pan Number for Banks

The Rs. 80 Lakh home loan EMI for 10 years tenure at an 7.90% p.a. interest rate would come to Rs. 93,093. The EMI on a loan of Rs. 80 Lakhs for a tenure of 10 years varies from lender to lender based on their interest rate and borrower’s eligibility.

Here’s the table for different EMIs on Rs. 80 Lakhs loan at different interest rate for 10 years tenure: 

The EMI for 80 Lakhs home loan for 20 years tenure at an 7.90% p.a. interest rate would be Rs. 66,418. The EMI varies from lender to lender based on the interest rate offered by the lender, existing EMI obligations and eligibility of the borrower. 

Here’s the table for different EMIs on Rs. 80 Lakhs loan at different interest rate for 20 years tenure: 

Additional Info: Also check SBI Home Loan EMI Calculator

EMI for Rs. 80 Lakhs home loan for 30 years of tenure will be Rs. 58,144 at an interest rate of 7.90% p.a. The EMI can fluctuate depending on the lender, interest rate offered by the lender and the borrower’s eligibility. You can use Rs. 80 Lakhs home loan EMI calculator available on our website for calculating the EMI for Rs. 80 Lakhs home loan for various tenures and interest rates. 

Here’s the table for different EMIs on Rs. 80 Lakhs loan at different interest rate for 10 years tenure: 

You have to meet the Home Loan Eligibility Criteria as mentioned below to be eligible to avail of a home loan of Rs. 80 Lakhs:

Eligibility Criteria for Salaried Applicants

• Applicants must be Indian residents.
• Applicants must be in the age group of 18 to 65 years.
• Applicants must have at least 3 years of work experience.
• Applicants must be earning an income of at least Rs. 25,000 per month.
• Credit score is also a major factor which impact the interest rate of home loan. So, check credit score before applying for a loan.

Eligibility Criteria for Self-employed Applicants

• Applicants must be Indian residents.
• Applicants must be in the age group of 18 to 65 years.
• Applicants must have a profitable business for at least the last 5 years.

You will have to submit the documents as mentioned below to apply for Rs. 80 Lakhs home loan:

• Home loan application form - duly filled & signed.
• Recent passport-sized photographs.
• Aadhaar Card, Passport, Driving License, Voter ID, etc as identity proof.
• Aadhaar Card, Passport, Driving License, Voter ID, etc as address proof.
• Birth Certificate, Class 10th Certificate, etc as age proof.
• Last 6 months’ bank statements.
• Processing fee cheque.
• Form 16/ Income Tax Return.
• Balance Sheet and Profit & Loss Statement of the last 3 years (CA certified) for self-employed applicants.
• Business profile of self-employed applicants.

Additional Reading: Minimum CIBIL Score for Home Loan

Follow the steps mentioned below to apply for a home loan up to Rs. 80 Lakhs:

• Visit our website and click on the ‘Home Loan’ tab.
• Fill in the complete online form for a home loan by entering all the mandatory details.
• Enter the ‘OTP’ received on your mobile phone to receive the best home loan offer quote.
• Click on the ‘Submit’ button.
• Many housing loan offers will be displayed on your computer/mobile screen as per the information entered by you.
• Choose your preferred option and apply.
• Our home loan team will contact you regarding the home loan process completion.