60 Lakh Home Loan EMI - EMI @₹822/Lakh*

₹60 Lakh Home Loan EMI

A 60 Lakh Home Loan provides you with the much-needed financial support to purchase your dream home. You can fund the purchase with Kotak Mahindra Bank’s Home Loan and repay it through easy EMIs. At Kotak, you can get a competitive Home Loan interest rate, making the repayment manageable.

EMI Calculator for Home Loan of ₹ 60 Lakh

A Home Loan EMI calculator lets you calculate the EMI for 60 Lakhs Home Loan online without any complex mathematical calculations. It works based on this formula:

EMI= [P x R x (1+R)^N]/[(1+R)^N-1]

Where, P = Principal Amount, R = rate of interest, and N = number of months in the tenure. At Kotak Mahindra Bank, you can choose a tenure of up to 25 years and repay the loan conveniently by keeping the 60 Lakh housing loan EMI affordable.

Home Loan

Loan Amount

Minimum ₹ 10,00,000

Interest Rate

Tenure (Years)

Till April 2028

Equated Monthly Instalments (EMI)

10000

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Principal

50,00,000

Interest Payable

2,00,000

View Amortization Table

Home Loan Amortization Schedule

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Emi Nos	Opening Principal	EMI	Interest	Principal Repayment	Closing Principal

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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

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₹ 60 Lakhs Housing Loan EMI Plans

Want to know your 60 Lakh Home Loan EMI for various loan terms? Here is a broad idea:

Loan Amount	Interest Rate	Repayment Tenure	EMI Amount
60 Lakh	8.75%*	5 Years	₹ 1,23,823
60 Lakh	8.75%*	10 Years	₹ 75,196
60 Lakh	8.75%*	15 Years	₹ 59,966
60 Lakh	8.75%*	20 Years	₹ 53,022
60 Lakh	8.75%*	25 Years	₹ 49,328

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₹ 60 Lakh Home Loan Eligibility & Documents Required

To get the lowest Home Loan interest rate for 60 Lakhs, you must fulfil the following eligibility conditions and documentation requirements:

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.

You will also need to submit these documents to apply for 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 ₹ 60 lakh Home Loan with Kotak Mahindra Bank?

Follow these steps to apply for a Rs. 60 Lakh Home Loan with Kotak Mahindra Bank:

Use a Home Loan EMI calculator to calculate your EMI for 60 Lakh Home Loan
Log on to the Home Loan section
Fill out an application form by providing the necessary details
Once the basic details have been filled and submitted our Home Loan specialist will get in touch to process your home loan application

What will be the EMI on ₹ 60 Lakh Home Loan for 10 years?

Want to know your 60 Lakh Home Loan EMI for 10 years? This is what your EMI plan will look like:

Loan Amount	₹ 60 lakh
Interest Rate	8.75%*
Loan Tenure	10 Years
60 Lakh Home Loan EMI for 10 years	₹ 75,196
Total Interest Payable	₹ 30,23,526
Total Payable Amount	₹ 90,23,526

*T&C Apply

What will be the EMI on a ₹ 60 Lakh Home Loan for 20 Years?

Planning to take a Home Loan for 20 years? This will be your scheme of 60 Lakh Home Loan EMI for 20 years:

Loan Amount	₹ 60 lakh
Interest Rate	8.75%*
Loan Tenure	20 Years
60 Lakh Home Loan EMI for 20 years	₹ 53,022
Total Interest Payable	₹ 67,25,434
Total Payable Amount	₹ 1,27,25,434

*T&C Apply

What will be the EMI on ₹ 60 Lakhs Home Loan for 25 years?

Want to maximise your loan term to keep the EMIs affordable? This will be the plan for your 60 Lakh Home Loan EMI for 25 years:

Loan Amount	₹ 60 lakh
Interest Rate	8.75%*
Loan Tenure	25 Years
EMI for 60 Lakhs Home Loan for 25 years	₹ 49,328
Total Interest Payable	₹ 87,98,585
Total Payable Amount	₹ 1,47,98,585

*T&C Apply

Frequently Asked Questions

Can I apply for a ₹60 Lakh Home Loan jointly with a co-applicant?

Yes, you can jointly apply for a ₹60 Lakh Home Loan with a co-applicant. However, ensure that the co-applicant has a decent income and credit score to improve your eligibility.

What is the maximum loan-to-value (LTV) ratio offered for a Home Loan of ₹60 Lakh?

You can fund up to 90% of the property’s cost with a Home Loan of ₹60 Lakh.

What is the maximum age limit to apply for a ₹60 Lakh Home Loan?

Salaried employees should be between 18 to 60 years of age, and self-employed professionals should be 18 to 65 years of age to qualify for a ₹60 Lakh Home Loan.

What is the interest rate on a ₹60 Lakh loan?

At Kotak Mahindra, you can get competitive Home Loan interest rates. However, the final rate depends on your credit history, repayment capacity and other factors affecting your ₹60 Lakh Home Loan EMI.

Can I easily get a Home Loan of ₹60 Lakh in India?

Kotak Mahindra makes it easy to obtain a Home Loan of ₹60 Lakh in India, both online and offline. You can avail of a loan from the comfort of your home and repay it through a budget-friendly EMI plan.