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20 Lakh Home Loan EMI Interest Rate 2022

Updated on: 20 Jun 2022 // 28 min read // Home Loans
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Calculate 20 Lakh Home Loan EMI Interest Rate 2022

Does arranging Rs. 20 lakh for your dream home appear insurmountable? Don’t worry! A Rs. 20 lakh home loan from leading financial companies can help you bridge this gap. What is the EMI for Rs. 20 lakhs home loan? Let’s use a Rs. 20 lakhs home loan EMI calculator to find out the Rs. 20 lakh home loan EMI for different loan tenures.

Click here to calculate Rs. 20 Lakhs Home Loan EMI

Rs. 20 Lakh Home Loan EMI Details

A home loan allows the borrower to borrow a lump sum amount which will be repaid in a specific loan term. The loan term can vary depending upon the repayment capacity of the borrower.  Lending companies typically allow a maximum loan term of up to 30 years. The table below enlists the EMI details for different loan tenures for a Rs. 20 lakh home loan availed at a rate of interest of 6.80% per annum.

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Additional Info: Looking for 1 Crore Home Loan? Check EMI & Apply

Loan AmountRate of InterestRepayment TermEMI per month
Rs. 20 lakhs6.80% p.a.5 YearsRs.39,414
Rs. 20 lakhs6.80% p.a.10 YearsRs.23,016
Rs. 20 lakhs6.80% p.a.15 YearsRs.17,754
Rs. 20 lakhs6.80% p.a.20 YearsRs.15,267
Rs. 20 lakhs6.80% p.a.25 YearsRs.13,881
Rs. 20 lakhs6.80% p.a.30 YearsRs.13,038

20 Lakh Home Loan EMI for 30 Years

What is the EMI for 20 lakhs home loan? Let’s find out the Rs. 20 lakh home loan EMI using the Rs. 20 lakhs home loan EMI calculator.

  • Loan Amount – Rs. 20,00,000
  • Rate of Interest – 6.80% p.a.
  • EMI value – Rs. 13,038
  • Total Interest – Rs. 26,93,860
  • Total Repayment – Rs. 46,93,860

Additional Info: Looking for 50 Lakh Home Loan? Check EMI & Apply

YearPrincipalInterestBalance Principal
1Rs. 21,119Rs. 135,349Rs. 1,978,881
2Rs. 22,600Rs. 133,868Rs. 1,956,281
3Rs. 24,185Rs. 132,283Rs. 1,932,096
4Rs. 25,882Rs. 130,586Rs. 1,906,214
5Rs. 27,698Rs. 128,770Rs. 1,878,516
6Rs. 29,643Rs. 126,825Rs. 1,848,873
7Rs. 31,721Rs. 124,747Rs. 1,817,152
8Rs. 33,946Rs. 122,522Rs. 1,783,206
9Rs. 36,328Rs. 120,140Rs. 1,746,878
10Rs. 38,878Rs. 117,590Rs. 1,708,000
11Rs. 41,606Rs. 114,862Rs. 1,666,394
12Rs. 44,523Rs. 111,945Rs. 1,621,871
13Rs. 47,646Rs. 108,822Rs. 1,574,225
14Rs. 50,991Rs. 105,477Rs. 1,523,234
15Rs. 54,567Rs. 101,901Rs. 1,468,667
16Rs. 58,397Rs. 98,071Rs. 1,410,270
17Rs. 62,494Rs. 93,974Rs. 1,347,776
18Rs. 66,878Rs. 89,590Rs. 1,280,898
19Rs. 71,570Rs. 84,898Rs. 1,209,328
20Rs. 76,591Rs. 79,877Rs. 1,132,737
21Rs. 81,964Rs. 74,504Rs. 1,050,773
22Rs. 87,716Rs. 68,752Rs. 963,057
23Rs. 93,870Rs. 62,598Rs. 869,187
24Rs. 100,456Rs. 56,012Rs. 768,731
25Rs. 107,504Rs. 48,964Rs. 661,227
26Rs. 115,046Rs. 41,422Rs. 546,181
27Rs. 123,118Rs. 33,350Rs. 423,063
28Rs. 131,758Rs. 24,710Rs. 291,305
29Rs. 141,001Rs. 15,467Rs. 150,304
30Rs. 150,374Rs. 5,574Rs. 0

20 Lakh Home Loan EMI for 25 Years

What is the EMI for 20 lakhs home loan? Let’s find out the Rs. 20 lakh home loan EMI using the Rs. 20 lakhs home loan EMI calculator for a loan term of 25 years are as follows:

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Additional Info: Calculate SBI Home Loan EMI Calculator

  • Loan Amount – Rs. 20,00,000
  • Rate of Interest – 6.80% p.a.
  • EMI value – Rs. 13,881
  • Total Interest – Rs. 21,64,432
  • Total Repayment – Rs. 41,64,432
YearPrincipalInterestBalance Principal
1Rs. 31,544Rs. 135,028Rs. 1,968,456
2Rs. 33,755Rs. 132,817Rs. 1,934,701
3Rs. 36,124Rs. 130,448Rs. 1,898,577
4Rs. 38,659Rs. 127,913Rs. 1,859,918
5Rs. 41,371Rs. 125,201Rs. 1,818,547
6Rs. 44,273Rs. 122,299Rs. 1,774,274
7Rs. 47,378Rs. 119,194Rs. 1,726,896
8Rs. 50,703Rs. 115,869Rs. 1,676,193
9Rs. 54,260Rs. 112,312Rs. 1,621,933
10Rs. 58,068Rs. 108,504Rs. 1,563,865
11Rs. 62,143Rs. 104,429Rs. 1,501,722
12Rs. 66,501Rs. 100,071Rs. 1,435,221
13Rs. 71,167Rs. 95,405Rs. 1,364,054
14Rs. 76,161Rs. 90,411Rs. 1,287,893
15Rs. 81,504Rs. 85,068Rs. 1,206,389
16Rs. 87,224Rs. 79,348Rs. 1,119,165
17Rs. 93,342Rs. 73,230Rs. 1,025,823
18Rs. 99,891Rs. 66,681Rs. 925,932
19Rs. 106,898Rs. 59,674Rs. 819,034
20Rs. 114,400Rs. 52,172Rs. 704,634
21Rs. 122,424Rs. 44,148Rs. 582,210
22Rs. 131,016Rs. 35,556Rs. 451,194
23Rs. 140,207Rs. 26,365Rs. 310,987
24Rs. 150,044Rs. 16,528Rs. 160,943
25Rs. 161,023Rs. 6,001Rs. 0

20 Lakh Home Loan EMI for 20 Years

What is the EMI for 20 lakhs home loan? Let’s find out the Rs. 20 lakh home loan EMI using the Rs. 20 lakhs home loan EMI calculator for a loan term of 20 years are as follows:

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

  • Loan Amount – Rs. 20,00,000
  • Rate of Interest – 6.80% p.a.
  • EMI value – Rs. 15,267
  • Total Interest – Rs. 16,64,030
  • Total Repayment – Rs. 36,64,030
YearPrincipalInterestBalance Principal
1Rs. 48,703Rs. 134,501Rs. 1,951,297
2Rs. 52,121Rs. 131,083Rs. 1,899,176
3Rs. 55,777Rs. 127,427Rs. 1,843,399
4Rs. 59,689Rs. 123,515Rs. 1,783,710
5Rs. 63,877Rs. 119,327Rs. 1,719,833
6Rs. 68,359Rs. 114,845Rs. 1,651,474
7Rs. 73,157Rs. 110,047Rs. 1,578,317
8Rs. 78,288Rs. 104,916Rs. 1,500,029
9Rs. 83,783Rs. 99,421Rs. 1,416,246
10Rs. 89,659Rs. 93,545Rs. 1,326,587
11Rs. 95,951Rs. 87,253Rs. 1,230,636
12Rs. 102,681Rs. 80,523Rs. 1,127,955
13Rs. 109,885Rs. 73,319Rs. 1,018,070
14Rs. 117,594Rs. 65,610Rs. 900,476
15Rs. 125,846Rs. 57,358Rs. 774,630
16Rs. 134,674Rs. 48,530Rs. 639,956
17Rs. 144,125Rs. 39,079Rs. 495,831
18Rs. 154,234Rs. 28,970Rs. 341,597
19Rs. 165,056Rs. 18,148Rs. 176,541
20Rs. 176,626Rs. 6,566Rs. 0

Rs. 20 Lakh Home Loan Interest Rates

Banks and non-banking financial companies in India offer Home Loans at a competitive Rate of Interest. The home loan interest rates are generally linked to MCLR rates fixed by the Reserve Bank of India. Listed below are the top lenders offering the most competitive rate of interest on Rs. 20 lakh home loans.

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Additional Info: How to get Pradhan Mantri Awas Yojana

Name of BankRate of Interest
CitiBankStarting 6.50% p.a. 
Kotak Mahindra Bank7.00% p.a.  - 7.60% p.a. 
ICICI Bank7.10% p.a.  -  7.95% p.a.
HDFC Bank7.05% p.a.  -  8.05% p.a. 
SBI Bank7.05% p.a.  - 7.65% p.a. 
IDFC First Bank7.10% p.a.  -  8.90% p.a. 
Yes Bank8.95% p.a.  - 11.80% p.a. 

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

Popular Banks providing 20 Lakh Home Loan

The top financial companies approving Rs. 20 lakh home loans at the most affordable rate of interest and minimum eligibility conditions are:  

CitiBank
SBI Bank
ICICI Bank       
IDBI Bank
HDFC Bank
IDFC First Bank
Kotak Mahindra Bank
Axis Bank
Yes Bank
Bank of Baroda
PNB Bank

Eligibility Criteria

 Lending companies have set Home Loan Eligibility Criteria. The borrower must meet the eligibility conditions to get the home loan approved. Though the eligibility conditions vary from lender to lender, the general guidelines are:

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Additional Info: Also check Pan Number for Banks

Eligibility HeadEligibility Criteria
Age

The home loan borrower must be at least 21 years old.

The maximum age of the borrower is 65 years.  

The number of years for which the home loan is approved cannot be more than the total number of years left until retirement.

Job ProfileThe home loan applicant can be a salaried individual, self-employed professional or self-employed non-professional.
IncomeThe home loan applicant must have a steady income. Different lending institutions have different minimum income requirements to be eligible for the home loan.
Work Experience

The salaried individual must have a work experience of at least 2 years of which at least one year must be with the current employer.

 

Self-employed individuals (both professional and non-professionals) must be in the same business for at least 3 years.

At least last 2 years should be profitable.

Residential StatusBoth Indian citizens and Non-Resident Indians are eligible for a home loan.
Credit ScoreThe home loan borrower must have a good credit score. Lending institutions prefer a credit score of 650 points or above.
Debt-Income RatioThe Debt-Income ratio of the applicant must be less than 50%. The lower the Debt-Income ratio, the better.

Documents Required

A home loan application is supported by several documents. The home loan is approved only after the attached documents are successfully verified. These Home Loan Documents include:

Age Proof (Any One)Identity Proof (Any One)Address Proof (Any One)Income Proof (All)

Passport

Driving License

Life Insurance Policy

School Leaving Certificate

PAN Card

Birth Certificate

 

Passport

Driving License

PAN Card

Voter ID

Utility Bill

Bank Account Statements

Property Tax Receipt

Voter ID

Property Registration Documents

 

Salaried

3 months salary slips

Appointment letter

Increment letter

Last Form No. 16

Bank account statement of the salary account

Processing fee cheque issued from the salary account

Self-Employed

2 years IT returns

Business profile on letterhead

Business registration certificate

Last 6 month operative current account bank account statement Processing fee cheque issued from the business account

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

FAQs

✅ What is the EMI for 20 lakhs home loan for 20 years?

Rs. 20 lakh home loan EMI for 20 years @ rate of interest 6.80% p.a. is Rs. 15,267.

What is Rs. 20 lakh home loan EMI for 30 years from Kotak Mahindra Bank?

Kotak Mahindra Bank offers home loans at a rate of interest starting at 7.00% p.a. The Rs. 20 lakh home loan EMI for 30 years from Kotak Mahindra Bank is Rs. 13,306

✅ What will be the Rs. 20 lakh home loan EMI for 10 years?

Rs. 20 lakh home loan EMI for 10 years @ rate of interest 6.80% p.a. is Rs.23,016.

✅ What is the EMI for 20 lakhs home loan for 30 years from IDFC First Bank?

IDFC First Bank offers home loans at a rate of interest starting at 7.10% p.a. The Rs. 20 lakh home loan EMI for 30 years from IDFC First Bank is Rs.13,441.

✅Which bank has the lowest Rs.20 lakh home loan EMI for 30 years?

Citibank offers the lowest home loan interest rates starting at 6.50% p.a. Its Rs.20 lakh home loan EMI for 30 years is Rs. 12,641.

Additional Info: Looking for 40 Lakh Home Loan? Check EMI & Apply.

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