₹30 Lakhs Home Loan EMI & Interest Rates
Tenure up to 25 years* | Competitive Interest Rates | Minimal Documentation

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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 ₹. 30Lakh 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.
Calculating EMI for your Home Loan just got easier, here are a few features and benefits that you can take advantage of:
The calculation of monthly EMIs for a Home Loan is calculated with the following equation:
EMI= [P x R x (1+R)n]/[(1+R)n -1]
Where P = Loan’s principal amount
R = Monthly rate of interest
N = Tenure of the loan (in months)
For example:
Loan Amount: Rs. 30,00,000
Tenure: 15 years (i.e., 180 months)
Annual Interest Rate: 7.25%
Monthly Interest Rate: 7.25 ÷ 12 = 0.6042% (or 0.006042 in decimal)
EMI = [30,00,000* 0.006042*(1+ 0.006042) 240]/[(1+ 0.006042)240-1] = Rs. 27,376
The Home Loan EMI calculator is straightforward to use, you have to add the following details:
1. Loan Amount
2. Interest Rate
3. Tenure
After adding these details, you will get the exact EMI amount that you will pay monthly.
Resources to get the best out of your Home Loan and manage your finances prudently
EXPLORE NOWWant to plan your Rs. 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 |
8.65%* |
5 Years |
₹61,767 |
₹30 Lakh |
8.65%* |
10 Years |
₹37,437 |
₹30 Lakh |
8.65%* |
15 Years |
₹29,807 |
₹30 Lakh |
8.65%* |
20 Years |
₹26,320 |
₹30 Lakh |
8.65%* |
25 Years |
₹24,461 |
*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,Hyderabad,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,Hyderabad,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 |
Step 1: Visit Kotak Mahindra Bank's website or download the mobile banking app.
Step 2: Click the 'Apply Now' button in the Home Loan section.
Step 3: Enter your details in the application form.
Step 4: Once the basic details have been filled and submitted our Home Loan specialist will get in touch to process your application
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 | 8.65%* |
Loan Tenure | 10 Years |
₹30 Lakh Home Loan EMI for 10 years | ₹37,437 |
Total Interest Payable | ₹14,92,440 |
Total Payable Amount | ₹44,92,440 |
*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 | 8.65%* |
Loan Tenure | 20 Years |
₹30 Lakh Home Loan EMI for 20 years | ₹.26,320 |
Total Interest Payable | ₹33,16,800 |
Total Payable Amount | ₹63,16,800 |
*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 | 8.65%* |
Loan Tenure | 25 Years |
₹30 Lakh Home Loan EMI for 25 years | ₹24,461 |
Total Interest Payable | ₹43,38,300 |
Total Payable Amount | ₹. 73,38,300 |
*T&C Apply
While applying for a Home Loan, there are several processing fees and charges associated with it. These charges are calculated for a certain percentage of your Home Loan amount. The Home Loan processing fees are non-refundable and even if the application is rejected, the amount will not be refunded. To know more about the processing fees and charges, click here.
As you all know, there are two types of interest rates – fixed and floating. Let’s take a look at which one is better for you:
A high credit score is essential for your loan approval. Applicants with a score of 750 and above are considered creditworthy by most of the banks and approve their loans. You can improve your credit score by paying your credit card bills on time, avoiding any delays in payments and avoiding taking multiple loans at the same time.
Dividing your loan amount with a co-applicant not only reduces your financial burden but also improves your chances of approval. A co-applicant reduces the credit risk for the bank. If you want to take a loan but don’t have a good credit score or insufficient monthly funds to pay for your Home Loan, you can add a co-applicant to improve your chances of approval and getting the Home Loan.