₹30 Lakh Home Loan EMI

With proper planning, handling the EMIs for a home loan of ₹30 Lakhs is much easier. This is because digital tools like EMI calculators have made it easier to compare offerings and optimise your terms for affordability over the long term.

One of the key factors that influences the amount payable is the repayment tenure. For example, if you opt for a longer tenure, the EMI amount will be reduced. However, extending the length of the tenure also increases the total interest payable.

Here’s a table to highlight the EMI calculation for home loan of ₹30 Lakhs at an interest rate of 9.50% p.a., across a few tenure options. 

For a home loan of ₹30 Lakhs, the EMI for 10 years and total interest charges are as follows:

Check out the amount payable along with the total interest payment:

Here are the details of the payment of EMI for a home loan of ₹30 Lakhs for 30 years:

Here are some common criteria you should fulfil to be eligible for a home loan of ₹30 Lakhs:

For Salaried Applicants:

• You should be residing in India

• Your age should be between 23 to 62 years 

• You should have a minimum work experience of 3 years

For Self-employed Applicants:

• You should be residing in India

• Your age should be between 25 to 70 years 

• Your business must have a vintage of at least 5 years 

Also,  keep the following documents handy to ensure a smooth home loan application process:

• Identity proof like PAN card, Aadhaar card, etc.

• Residential proof like utility bills, property tax receipts, etc.

• Income proof like ITR filings, Form 16, and bank statements for salaried applicants. Meanwhile, self-employed applicants need to provide their business’ audited P&L statements, balance sheets, etc.