₹12 Lakh Home Loan EMI

Applying for an affordable home loan of ₹12 Lakhs can help you finance the purchase of a home. To find affordable terms, knowing the EMI for a home loan of ₹12 Lakhs is essential. With an EMI calculator, you can compare the EMI amount at various tenures.

The following table includes the ₹12 Lakh home loan EMI that you will need to pay at various tenures, with an interest rate of 8.50% p.a.:

Check out this table to know about the EMI amount for a home loan of ₹12 Lakhs for 10 years:

Here is the calculation of EMI for a home loan of ₹12 Lakhs for 20 years:

Refer to this table for the calculation of EMI for a home loan of ₹12 Lakhs for 30 years:

Fulfil the following requirements to be eligible for a home loan of ₹12 Lakhs:

• The applicant must be an Indian citizen and resident

• If salaried, the applicant’s age should be between 23 and 62 years

• If self-employed, the applicant’s age must be between 25 and 70 years 

• The salaried applicant must have a work experience of at least 3 years 

• If self-employed, the business vintage should be at least 5 years

Alongside this, you are required to submit the following documents:

• Identity Proof: PAN card, driving licence, Aadhaar card, or voter ID 

• Address Proof: Utility bills, Aadhaar card, or passport

• Income Proof: 

  • For Salaried Applicants: 

    • ITR filings of the last 2 years

    • Form 16

    • Salary slips of the last 3 months
      

  • For Self-employed Applicants: 

    • Latest balance sheet of the business, audited by a certified CA

    • ITR filings of the last 2 years

    • Profit and loss statement of the last 3 years

    • Business licence details

    • TDS certificate

    • Degree/qualification certificates for self-employed professionals