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20 Lakh Home Loan EMI Interest Rate 2022
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.
Additional Info: You can also avail Bandhan Bank Home Loan
| Loan Amount | Rate of Interest | Repayment Term | EMI per month |
| Rs. 20 lakhs | 6.80% p.a. | 5 Years | Rs.39,414 |
| Rs. 20 lakhs | 6.80% p.a. | 10 Years | Rs.23,016 |
| Rs. 20 lakhs | 6.80% p.a. | 15 Years | Rs.17,754 |
| Rs. 20 lakhs | 6.80% p.a. | 20 Years | Rs.15,267 |
| Rs. 20 lakhs | 6.80% p.a. | 25 Years | Rs.13,881 |
| Rs. 20 lakhs | 6.80% p.a. | 30 Years | Rs.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
| Year | Principal | Interest | Balance Principal |
| 1 | Rs. 21,119 | Rs. 135,349 | Rs. 1,978,881 |
| 2 | Rs. 22,600 | Rs. 133,868 | Rs. 1,956,281 |
| 3 | Rs. 24,185 | Rs. 132,283 | Rs. 1,932,096 |
| 4 | Rs. 25,882 | Rs. 130,586 | Rs. 1,906,214 |
| 5 | Rs. 27,698 | Rs. 128,770 | Rs. 1,878,516 |
| 6 | Rs. 29,643 | Rs. 126,825 | Rs. 1,848,873 |
| 7 | Rs. 31,721 | Rs. 124,747 | Rs. 1,817,152 |
| 8 | Rs. 33,946 | Rs. 122,522 | Rs. 1,783,206 |
| 9 | Rs. 36,328 | Rs. 120,140 | Rs. 1,746,878 |
| 10 | Rs. 38,878 | Rs. 117,590 | Rs. 1,708,000 |
| 11 | Rs. 41,606 | Rs. 114,862 | Rs. 1,666,394 |
| 12 | Rs. 44,523 | Rs. 111,945 | Rs. 1,621,871 |
| 13 | Rs. 47,646 | Rs. 108,822 | Rs. 1,574,225 |
| 14 | Rs. 50,991 | Rs. 105,477 | Rs. 1,523,234 |
| 15 | Rs. 54,567 | Rs. 101,901 | Rs. 1,468,667 |
| 16 | Rs. 58,397 | Rs. 98,071 | Rs. 1,410,270 |
| 17 | Rs. 62,494 | Rs. 93,974 | Rs. 1,347,776 |
| 18 | Rs. 66,878 | Rs. 89,590 | Rs. 1,280,898 |
| 19 | Rs. 71,570 | Rs. 84,898 | Rs. 1,209,328 |
| 20 | Rs. 76,591 | Rs. 79,877 | Rs. 1,132,737 |
| 21 | Rs. 81,964 | Rs. 74,504 | Rs. 1,050,773 |
| 22 | Rs. 87,716 | Rs. 68,752 | Rs. 963,057 |
| 23 | Rs. 93,870 | Rs. 62,598 | Rs. 869,187 |
| 24 | Rs. 100,456 | Rs. 56,012 | Rs. 768,731 |
| 25 | Rs. 107,504 | Rs. 48,964 | Rs. 661,227 |
| 26 | Rs. 115,046 | Rs. 41,422 | Rs. 546,181 |
| 27 | Rs. 123,118 | Rs. 33,350 | Rs. 423,063 |
| 28 | Rs. 131,758 | Rs. 24,710 | Rs. 291,305 |
| 29 | Rs. 141,001 | Rs. 15,467 | Rs. 150,304 |
| 30 | Rs. 150,374 | Rs. 5,574 | Rs. 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:
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
| Year | Principal | Interest | Balance Principal |
| 1 | Rs. 31,544 | Rs. 135,028 | Rs. 1,968,456 |
| 2 | Rs. 33,755 | Rs. 132,817 | Rs. 1,934,701 |
| 3 | Rs. 36,124 | Rs. 130,448 | Rs. 1,898,577 |
| 4 | Rs. 38,659 | Rs. 127,913 | Rs. 1,859,918 |
| 5 | Rs. 41,371 | Rs. 125,201 | Rs. 1,818,547 |
| 6 | Rs. 44,273 | Rs. 122,299 | Rs. 1,774,274 |
| 7 | Rs. 47,378 | Rs. 119,194 | Rs. 1,726,896 |
| 8 | Rs. 50,703 | Rs. 115,869 | Rs. 1,676,193 |
| 9 | Rs. 54,260 | Rs. 112,312 | Rs. 1,621,933 |
| 10 | Rs. 58,068 | Rs. 108,504 | Rs. 1,563,865 |
| 11 | Rs. 62,143 | Rs. 104,429 | Rs. 1,501,722 |
| 12 | Rs. 66,501 | Rs. 100,071 | Rs. 1,435,221 |
| 13 | Rs. 71,167 | Rs. 95,405 | Rs. 1,364,054 |
| 14 | Rs. 76,161 | Rs. 90,411 | Rs. 1,287,893 |
| 15 | Rs. 81,504 | Rs. 85,068 | Rs. 1,206,389 |
| 16 | Rs. 87,224 | Rs. 79,348 | Rs. 1,119,165 |
| 17 | Rs. 93,342 | Rs. 73,230 | Rs. 1,025,823 |
| 18 | Rs. 99,891 | Rs. 66,681 | Rs. 925,932 |
| 19 | Rs. 106,898 | Rs. 59,674 | Rs. 819,034 |
| 20 | Rs. 114,400 | Rs. 52,172 | Rs. 704,634 |
| 21 | Rs. 122,424 | Rs. 44,148 | Rs. 582,210 |
| 22 | Rs. 131,016 | Rs. 35,556 | Rs. 451,194 |
| 23 | Rs. 140,207 | Rs. 26,365 | Rs. 310,987 |
| 24 | Rs. 150,044 | Rs. 16,528 | Rs. 160,943 |
| 25 | Rs. 161,023 | Rs. 6,001 | Rs. 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: You can also avail LIC Home Loan
- 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
| Year | Principal | Interest | Balance Principal |
| 1 | Rs. 48,703 | Rs. 134,501 | Rs. 1,951,297 |
| 2 | Rs. 52,121 | Rs. 131,083 | Rs. 1,899,176 |
| 3 | Rs. 55,777 | Rs. 127,427 | Rs. 1,843,399 |
| 4 | Rs. 59,689 | Rs. 123,515 | Rs. 1,783,710 |
| 5 | Rs. 63,877 | Rs. 119,327 | Rs. 1,719,833 |
| 6 | Rs. 68,359 | Rs. 114,845 | Rs. 1,651,474 |
| 7 | Rs. 73,157 | Rs. 110,047 | Rs. 1,578,317 |
| 8 | Rs. 78,288 | Rs. 104,916 | Rs. 1,500,029 |
| 9 | Rs. 83,783 | Rs. 99,421 | Rs. 1,416,246 |
| 10 | Rs. 89,659 | Rs. 93,545 | Rs. 1,326,587 |
| 11 | Rs. 95,951 | Rs. 87,253 | Rs. 1,230,636 |
| 12 | Rs. 102,681 | Rs. 80,523 | Rs. 1,127,955 |
| 13 | Rs. 109,885 | Rs. 73,319 | Rs. 1,018,070 |
| 14 | Rs. 117,594 | Rs. 65,610 | Rs. 900,476 |
| 15 | Rs. 125,846 | Rs. 57,358 | Rs. 774,630 |
| 16 | Rs. 134,674 | Rs. 48,530 | Rs. 639,956 |
| 17 | Rs. 144,125 | Rs. 39,079 | Rs. 495,831 |
| 18 | Rs. 154,234 | Rs. 28,970 | Rs. 341,597 |
| 19 | Rs. 165,056 | Rs. 18,148 | Rs. 176,541 |
| 20 | Rs. 176,626 | Rs. 6,566 | Rs. 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.
Additional Info: How to get Pradhan Mantri Awas Yojana
| Name of Bank | Rate of Interest |
| CitiBank | Starting 6.50% p.a. |
| Kotak Mahindra Bank | 6.55% p.a. - 7.20% p.a. |
| ICICI Bank | 6.70% p.a. - 7.55% p.a. |
| HDFC Bank | 6.70% p.a. - 7.65% p.a. |
| SBI Bank | 6.70% p.a. - 7.5% p.a. |
| IDFC First Bank | 6.50% p.a. - 8.90% p.a. |
| Yes Bank | 6.70% p.a. - 8.95% 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:
Additional Info: Also check Pan Number for Banks
| Eligibility Head | Eligibility 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 Profile | The home loan applicant can be a salaried individual, self-employed professional or self-employed non-professional. | |
| Income | The 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 Status | Both Indian citizens and Non-Resident Indians are eligible for a home loan. | |
| Credit Score | The home loan borrower must have a good credit score. Lending institutions prefer a credit score of 650 points or above. | |
| Debt-Income Ratio | The 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 6.65% p.a. The Rs. 20 lakh home loan EMI for 30 years from Kotak Mahindra Bank is Rs. 12,840.
✅ 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 6.90% p.a. The Rs. 20 lakh home loan EMI for 30 years from IDFC First Bank is Rs.13,172.
✅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.
