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EMI and Interest rates for Home Loan of ₹75 Lakh
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Are you planning to borrow a Home Loan of or above ₹75 Lakh to purchase a place for yourself? Are you wondering how much the EMI will be? Simply using Kotak Mahindra Bank’s Home Loan EMI calculator will be the best tool to do the calculations in a few seconds, online. While Kotak Mahindra offers you the freedom to choose a loan term of up to 25 years, you should select a plan with affordable EMIs and ideal interest payment they are well within your budget.
A Home Loan EMI calculator evaluates your EMI for a ₹75 Lakh Home Loan based on three variables: the loan amount, Home Loan interest rate, and preferred repayment tenure. Enter these three figures into the online EMI calculator and calculate EMIs for various loan terms. Based on the results, you can choose an ideal tenure with affordable monthly EMIs.
Resources to get the best out of your Home Loan and manage your finances prudently
EXPLORE NOWUsing the loan EMI calculator, you can calculate your EMI plan for various loan terms. Here are a few samples:
| Loan Amount | Interest Rate | Repayment Tenure | EMI Amount |
|---|---|---|---|
| ₹75 Lakh | 8.70%* | 5 Years | ₹154,597 |
| ₹75 Lakh | 8.70%* | 10 Years | ₹93,793 |
| ₹75 Lakh | 8.70%* | 15 Years | ₹74,737 |
| ₹75 Lakh | 8.70%* | 20 Years | ₹66,039 |
| ₹75 Lakh | 8.70%* | 25 Years |
₹61,406 |
*T&C Apply
At Kotak Mahindra Bank, the eligibility conditions are simple, and documentation requirements are minimal. Here are a few basic requirements you must fulfil:
| 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 |
Here are the documents required to apply for Home Loans with Kotak Mahindra Bank:
You can visit the nearest Kotak Mahindra Bank branch to apply for a Home Loan offline. You can also apply online following these steps:
Planning to repay your Home Loan in 10 years? This will be your repayment structure:
| Loan Amount |
₹75 Lakh |
|---|---|
| Interest Rate | 8.70%* |
| Loan Tenure | 10 Years |
| EMI Amount to Pay Each Month |
₹93,793 |
| Total Interest Payable | ₹3,755,210 |
| Total Payable Amount | ₹11,255,210 |
*T&C Apply
Want to calculate your ₹75 Lakh Home Loan EMI for a tenure of 20 years? Use a Home Loan calculator to know your EMI plan. It would be as follows:
| Loan Amount |
₹75 Lakh |
|---|---|
| Interest Rate | 8.70%* |
| Loan Tenure | 20 Years |
| EMI Amount to Pay Each Month |
₹66,039 |
| Total Interest Payable | ₹8,349,412 |
| Total Payable Amount | ₹15,849,412 |
*T&C Apply
25 years is the maximum loan tenure you can choose when taking a Home Loan from Kotak Mahindra Bank. The home loan EMI Plan for ₹75 Lakh would be as follows:
| Loan Amount |
₹75 Lakh |
|---|---|
| Interest Rate | 8.70%* |
| Loan Tenure | 25 Years |
| EMI Amount to Pay Each Month |
₹61,406 |
| Total Interest Payable | ₹10,921,859 |
| Total Payable Amount | ₹18,421,859 |
*T&C Apply
You can claim a tax benefit of up to ₹1.5 Lakh on the principal amount under Section 80C and up to ₹2 Lakh on the interest amount under Section 24B.
For Kotak Mahindra Bank, you need a minimum salary of ₹20,000 per month if you reside in Delhi, Mumbai, Pune, Chennai, and Bangalore, and ₹15,000 if you reside in other cities.
You can avail of a ₹75 Lakh Home Loan in India by visiting the nearest Kotak Mahindra Bank branch or online, here at the official website or through the app.
Enter your loan amount, interest rate, and repayment tenure to calculate the Home Loan EMI for ₹75 Lakh using the Home Loan EMI calculator.
Yes, you can jointly apply for a ₹75 Lakh Home Loan with your spouse. A joint loan application improves approval chances and reduces your EMI with the best loan deal.
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.
