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Most aspiring home buyers seek Home Loans to fund their purchase and pay in easy monthly instalments. At Kotak Mahindra Bank, you can easily obtain a ₹ 80 Lakh Home Loan offline or online at an attractive Home Loan interest rate. As far as the 80 Lakh loan EMI is concerned, you can choose a repayment tenure of up to 25 years using a loan EMI calculator and repay the loan without stretching your budget. Let’s find out how it works.
As far as the 80 Lakh loan EMI is concerned, using Home Loan EMI calculator, you can choose a repayment tenure which can be up to 25 years and plan your finances without stretching your budget. Let’s find out how it works.
A Home Loan EMI calculator will help you calculate EMIs for various loan terms. The longer the tenure, the smaller the EMI for Home Loan of 80 Lakhs. The Home Loan EMI calculator calculates the EMIs based on three variables: loan amount, interest rate, and loan tenure. Enter these details in the Home Loan calculator and get the desired results within a flash second. You can adjust the loan term according to your budget until you get an affordable EMI for 80 Lakh Home Loan.
Resources to get the best out of your Home Loan and manage your finances prudently
EXPLORE NOWHere is an idea of your EMI for 80 Lakhs Home Loan based on the repayment tenure you select:
| Loan Amount | Interest Rate | Repayment Tenure | EMI Amount |
|---|---|---|---|
80 Lakh |
8.70%* |
5 Years |
₹ 164,904 |
80 Lakh |
8.70%* |
10 Years |
₹ 100,046 |
80 Lakh |
8.70%* |
15 Years |
₹ 79,719 |
80 Lakh |
8.70%* |
20 Years |
₹ 70,441 |
80 Lakh |
8.70%* |
25 Years |
₹ 65,499 |
*T&C Apply
To apply for a Home Loan of 80 Lakh at Kotak Mahindra Bank, ensure that you fulfil these eligibility requirements according to your 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. |
Eligible applicants must scan and upload these documents to apply for an online Home Loan at Kotak Mahindra Bank:
Are you planning to apply for a Home Loan at Kotak Mahindra? Follow these steps to streamline the process:
80 Lakh loan EMI for 10 years will have the following repayment structure:
| Loan Amount | ₹ 80 lakh |
|---|---|
Interest Rate |
8.70%* |
Loan Tenure |
10 Years |
80 Lakh Home Loan EMI for 10 years |
₹ 100,046 |
Total Interest Payable |
₹ 4,005,558 |
Total Payable Amount |
₹ 12,005,558 |
*T&C Apply
Want to calculate your EMI for 80 Lakhs Home Loan for 20 years? Its repayment plan would be as follows:
| Loan Amount | ₹ 80 lakh |
|---|---|
Interest Rate |
8.70%* |
Loan Tenure |
20 Years |
80 Lakh Home Loan EMI for 20 years |
₹ 70,441 |
Total Interest Payable |
₹ 8,906,040 |
Total Payable Amount |
₹ 16,906,040 |
*T&C Apply
Home Loan 80 Lakhs EMI for 25 years will cost like this:
| Loan Amount | ₹ 80 lakh |
|---|---|
Interest Rate |
8.70%* |
Loan Tenure |
25 Years |
EMI for 80 Lakhs Home Loan for 25 years |
₹ 65,499 |
Total Interest Payable |
₹ 11,649,984 |
Total Payable Amount |
₹ 19,649,984 |
*T&C Apply
You can claim a tax exemption 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.
Yes, adding a co-applicant with a high credit score and income is a good strategy to get the best Home Loan deal.
You can avail of a ₹80 Lakh Home Loan in India, offline or online. Visit the bank's branch to apply offline, or use their website or app to apply online.
Enter your loan amount, interest rate, and repayment tenure in the ₹80 Lakhs house loan EMI calculator to calculate your EMI.
The Home Loan interest rate at Kotak Mahindra Bank are flexible. It means that the interest rate depends on the change in repo rate that the RBI announces during the loan tenure.
A longer tenure decreases the EMI amount but increases the total interest cost, while a shorter tenure increases the EMI amount but saves money on the interest cost. So, choosing the shortest possible loan term with budget-friendly EMIs is best.
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.
