40 Lakh Home Loan EMI - Calculate EMI @ ₹822/Lakh*

₹40 Lakh Home Loan EMI

Are you planning to borrow a Home Loan of ₹40 Lakh to purchase your dream house? Before diving in, it’s important to understand Home Loan EMIs. Calculating Home Loan interest rate and EMI in advance will help with a better repayment plan and financial management. You can use a loan EMI calculator to check your EMI amount online. Let’s find out what is the EMI for ₹40 Lakhs Home Loan for different loan tenure.

EMI Calculator for Home Loan of ₹40 Lakh

At Kotak Mahindra Bank, you can opt for a loan tenure of up to 25 years. The longer the repayment tenure you select, the smaller the EMIs will be. So, enter these three variables in the spaces provided and get results within a flash second.

Home Loan

Loan Amount

Minimum ₹ 10,00,000

Interest Rate

Tenure (Years)

Till April 2028

Equated Monthly Instalments (EMI)

10000

Apply Now

Principal

50,00,000

Interest Payable

2,00,000

View Amortization Table

Home Loan Amortization Schedule

Download

Emi Nos	Opening Principal	EMI	Interest	Principal Repayment	Closing Principal

See Less

Monthly obligation should not be greater than Monthly Net Income

Guide to better loan finance

Resources to get the best out of your Home Loan and manage your finances prudently

EXPLORE NOW

₹40 Lakh Home EMI as per tenure

At Kotak Mahindra Bank, you may obtain Home Loans at attractive interest rates. Let’s look at the ₹40 Lakhs housing loan EMI amounts for various loan tenures:

Loan Amount	Interest Rate	Repayment Tenure	EMI Amount
₹40 Lakh	8.75%*	5 Years	₹ 82,548
₹40 Lakh	8.75%*	10 Years	₹ 50,130
₹40 Lakh	8.75%*	15 Years	₹ 39,977
₹40 Lakh	8.75%*	20 Years	₹ 35,348
₹40 Lakh	8.75%*	25 Years	₹ 32,885

*T&C Apply

₹40 Lakh Home Loan Eligibility & Documents Required

You must fulfil a few eligibility conditions and documentation requirements to qualify for a ₹40 Lakh Home Loan at Kotak Mahindra Bank. Here’s an overview:

Criteria	Salaried Applicants	Self-employed Applicants
Age	Applicants should be between 18 and 60 years old	Applicants should be between 18-65 years old
Income	Minimum Income of ₹20,000 per month for Delhi, Mumbai, Bangalore, Pune, and Chennai residents. Minimum Income of ₹15,000 per month for the residents of other cities.	Minimum Income of ₹20,000 per month for residents of Delhi, Mumbai, Bangalore, Pune, and Chennai. Minimum Income of ₹15,000 per month for the residents of other cities.
Work Experience/ Continuity	2 years of work experience and at least 6 months in the current organisation.	Minimum 3 years in business or profession with the number of successful years in the business or profession.

Criteria

Salaried Applicants

Self-employed Applicants

Age

Applicants should be between 18 and 60 years old

Applicants should be between 18-65 years old

Income

Minimum Income of ₹20,000 per month for Delhi, Mumbai, Bangalore, Pune, and Chennai residents.

Minimum Income of ₹15,000 per month for the residents of other cities.

Minimum Income of ₹20,000 per month for residents of Delhi, Mumbai, Bangalore, Pune, and Chennai.

Minimum Income of ₹15,000 per month for the residents of other cities.

Work Experience/ Continuity

2 years of work experience and at least 6 months in the current organisation.

Minimum 3 years in business or profession with the number of successful years in the business or profession.

If you fulfil these home loan eligibility conditions, you must submit the following documents to apply for a ₹40 Lakh Home Loan at Kotak Mahindra Bank:

Identity proof, like Aadhar card, PAN card, driving licence, voter ID, passport, etc.
Address proof, like Aadhar card, voter ID, driving licence, passport, etc.
Age proof, like voter ID, passport, PAN card, Aadhar card, driving licence, etc.
Signature proof, like a passport or PAN card
Income proof

How to Apply for ₹40 Lakh Home Loan

Applying for a Home Loan at Kotak Mahindra Bank is extremely easy. You can visit a nearby branch / official website / download the mobile banking app to get the required amount. These are the steps to follow:

Visit the official website of Kotak Mahindra Bank or download the mobile banking app
Click the 'Apply Now' button in the Home Loan section
Enter your details in the application form
Following the submission of your details, our Home Loan specialist will connect with you to complete your application

What will be the EMI on ₹40 lakh Home Loan for 10 years

Choosing a tenure of 10 years may attract a bigger EMI for your Home Loan of ₹40 Lakh. Using a ₹40 Lakh loan EMI calculator, you will get the following results:

Loan Amount	₹40 lakh
Interest Rate	8.75%*
Loan Tenure	10 Years
₹40 Lakh Home Loan EMI for 10 years	₹ 50,130
Total Interest Payable	₹ 20,15,684
Total Payable Amount	₹ 60,15,684

*T&C Apply

What will be the EMI on ₹40 lakh Home Loan for 20 years

Are you planning to borrow a ₹40 Lakh Home Loan for 20 years, your repayment structure would be similar to this:

Loan Amount	₹40 lakh
Interest Rate	8.75%*
Loan Tenure	20 Years
₹40 Lakh Home Loan EMI for 20 years₹	₹ 35,348
Total Interest Payable	₹ 44,83,623
Total Payable Amount	₹ 84,83,623

*T&C Apply

What will be the EMI on ₹40 Lakh Home Loan for 25 Years

25 years is the maximum Home Loan tenure you can choose at Kotak Mahindra Bank. Do you want to calculate your ₹40 Lakh Home Loan EMI for 25 years? EMI calculator will give the following results:

Loan Amount	₹40 lakh
Interest Rate	8.75%*
Loan Tenure	25 Years
₹40 Lakh Home Loan EMI for 25 years	₹ 32,885
Total Interest Payable	₹ 58,65,724
Total Payable Amount	₹ 98,65,724

*T&C Apply

Frequently Asked Questions

What is the minimum salary required for Home Loan?

To qualify for a Home Loan at Kotak Mahindra Bank, your minimum monthly salary should be ₹20,000 if you live in Delhi, Mumbai, Pune, Bangalore, or Chennai. It should be at least ₹15,000 if you live in any other city.

How can I calculate the EMI for a ₹40 lakh home loan?

Using a home loan EMI calculator is the easiest and fast way to calculate your Home Loan EMIs. Enter your loan amount, interest rate, and tenure in the Home Loan calculator and get results instantly.

What is the impact of my employment type (salaried/self-employed) on the eligibility for a ₹40 lakh home loan?

Both salaried and self-employed individuals can obtain a Home Loan at Kotak Mahindra Bank. However, the eligibility conditions and documentation requirements may vary. Please refer to the appropriate section for more details.

Can I get a ₹40 lakh home loan with a low credit score?

You must have a credit score of at least 750 to get the best deal on ₹40 Lakh Home Loan. Low-score individuals can also apply but must show a good income and strong repayment capacity to qualify.

What are the interest rates for a ₹40 lakh home loan?

You can get the latest updates about the Home Loan interest rate at Kotak Mahindra Bank from their official website. However, the final rate depends on your credit history, income regularity, professional stability etc.