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A Home Loan up to ₹30 Lakhs is great financial support when you need funds to purchase your dream house. It helps you split the loan amount into equated monthly instalments and repay conveniently over your selected loan tenure. However, before applying for Home Loan, you should know your EMI for a Home Loan of ₹30 Lakh so you can plan your finances accordingly.
Home Loan EMI calculator is a free online tool that can help you calculate monthly EMI for ₹30 Lakh Home Loan depending on current Home Loan interest rate, loan amount and number of months in the loan tenure. Enter these three variables in the EMI calculating tool and get the exact EMI amount instantly. This tool facilitates EMI calculation by saving time and effort and giving error-free results without any loan agent or representative’s involvement.
Resources to get the best out of your Home Loan and manage your finances prudently
EXPLORE NOWWant to plan your ₹30 Lakh Home Loan EMIs? Use a housing loan EMI calculator to get the desired results. The EMI amount decreases as you increase the repayment term. Here are a few examples.
| Loan Amount | Interest Rate | Repayment Tenure | EMI Amount |
|---|---|---|---|
| ₹30 Lakh | 8.70%* | 5 Years | ₹61,839 |
| ₹30 Lakh | 8.70%* | 10 Years | ₹37,517 |
| ₹30 Lakh | 8.70%* | 15 Years | ₹29,894 |
| ₹30 Lakh | 8.70%* | 20 Years | ₹26,415 |
| ₹30 Lakh | 8.70%* | 25 Years | ₹24,562 |
*T&C Apply
Kotak Mahindra has simple home loan eligibility and documentation requirements that you must fulfil to qualify for a Home Loan for ₹30 Lakhs. These are as follows:
| Eligibility Criteria | For Salaried | For Self-Employed |
|---|---|---|
| Age | 18-60 years | 18-65 years |
| Minimum Gross Income | Monthly salary of ₹20,000 if you live in Delhi, Mumbai, Pune, Chennai, and Bangalore Monthly salary of ₹15,000 if you reside in other cities |
Minimum three years of business experience with a net income of ₹2,40,000 per annum for companies in Delhi, Mumbai, Pune, Chennai, and Bangalore, and ₹1,80,000 per annum for companies in other cities |
| Years of Services | Minimum 2 years | The business should have been existing for a min. of 3 years |
You can apply for a Home Loan ₹30 Lakhs at Kotak both offline and online. You can visit a bank branch to apply offline or online through the website or app to get quick approvals. These are the steps to follow:
Are you planning to apply for a Home Loan? This will be your ₹30 Lakh Home Loan EMI for 10 years:
| Loan Amount |
₹30 Lakh |
|---|---|
| ₹30 Lakhs Home Loan Interest Rate | 8.70%* |
| Loan Tenure | 10 Years |
| ₹30 Lakh Home Loan EMI for 10 years | ₹37,517 |
| Total Interest Payable | ₹1,502,083 |
| Total Payable Amount | ₹4,502,083 |
*T&C Apply
Do you want to know your ₹30 Lakh Home Loan EMI for 20 years? Here is a breakup:
| Loan Amount |
₹30 Lakh |
|---|---|
| Interest Rate | 8.70%* |
| Loan Tenure | 20 Years |
| ₹30 Lakh Home Loan EMI for 20 years | ₹26,415 |
| Total Interest Payable | ₹3,339,764 |
| Total Payable Amount | ₹6,339,764 |
*T&C Apply
What is the EMI for 30 Lakhs Home Loan for 25 years? It would be as follows:
| Loan Amount |
₹30 Lakh |
|---|---|
| Interest Rate | 8.70%* |
| Loan Tenure | 25 Years |
| ₹30 Lakh Home Loan EMI for 25 years | ₹24,562 |
| Total Interest Payable | ₹4,368,743 |
| Total Payable Amount | ₹73,68,743 |
*T&C Apply
Section 80C of the income tax act permits individuals to avail deductions up to ₹1.5 Lakhs per annum.
Homeowners can claim deductions on the interest on home loan deduction under Section 24:
You must earn a salary of at least ₹20,000 if you live in Delhi, Bangalore, Pune, Chennai, or Mumbai, and ₹15,000 if you live in any other city.
The maximum age limit is 60 years for salaried and 65 years for self-employed individuals.
Yes, you can transfer your existing Home Loan to Kotak for a lower Home Loan interest rate and better terms. The strategy is called Home Loan balance transfer.
Open an online EMI calculator, enter your loan amount, interest rate, and repayment tenure, and get results within a flash second.
Yes, you can easily get a Home Loan of ₹30 Lakh in India, provided that you fulfil the lender’s eligibility conditions and documentation requirements.
You can pay off any existing balance of Home Loan using Kotak’s Home Loan Balance Transfer at a lower rate of interest.
If you are an NRI and are looking for a Home Loan, Kotak provides you just that. Check out our NRI Home Loans section.
If you are looking for renovating your home, you can do so by taking Kotak’s Home Improvement Loans
To encourage women home buyers, Kotak Mahindra Bank offers affordable housing loans for women.
