Thinking about taking a Home Loan of Rs. 10 lakh to buy your new home? Before applying, it’s important to understand how your monthly instalments (EMIs) will be calculated. Knowing the EMI in advance will help you plan your monthly expenses and repayment in a smarter way. You can use a free online EMI calculator to estimate how much you will need to pay every month based on your loan amount, interest rate, and tenure. Let’s look at what your EMI might be for a Rs. 10 lakh Home Loan across different repayment periods.
Home loan up to Rs. 10 lakh
Bajaj Finserv offers a home loan of up to Rs. 15 crore*, designed to support various housing needs, whether you're planning to buy, construct, or renovate your home. This financing option features competitive interest rates and a flexible tenure of up to 32 years, allowing you to tailor your repayment schedule to fit your budget.
Using the home loan EMI calculator can help you find the ideal repayment period, ensuring manageable monthly payments. Additionally, if you're a beneficiary of the Pradhan Mantri Awas Yojana (PMAY), you may qualify for the Credit Linked Subsidy Scheme (CLSS), which provides an interest subsidy of up to 6.50%, amounting to a potential savings of Rs. 2.76 lakh on your loan.
10 lakh home loan EMI for varying tenures
The table below outlines the monthly instalment (EMI), total interest, and the total amount payable for Rs. 10 lakh across a range of tenures at the rate of 7.49% p.a.* offered by Bajaj Finserv on housing loans. Want to know if you qualify for these competitive rates? You can check your eligibility today by entering your mobile number and verifying it with an OTP.
Loan amount (Rs.) |
Loan tenure (years) |
Rate of interest (p.a.) |
EMI (Rs.) |
Total interest (Rs.) |
Total amount payable (Rs.) |
10 lakh |
5 |
7.49% |
20,033 |
2,01,992 |
12,01,992 |
10 lakh |
10 |
7.49% |
11,865 |
4,23,795 |
14,23,795 |
10 lakh |
15 |
7.49% |
9,264 |
6,67,600 |
16,67,600 |
10 lakh |
20 |
7.49% |
8,050 |
9,31,956 |
19,31,956 |
10 lakh |
25 |
7.49% |
7,383 |
12,15,023 |
22,15,023 |
10 lakh |
30 |
7.49% |
6,985 |
15,14,708 |
25,14,708 |
*The table has values that are subject to change.
Rs. 10 lakh home loan EMI eligibility criteria and documents required
Criteria |
Details |
Nationality |
Indian |
Age |
23 to 67 years for salaried; 23 to 70 years for self-employed |
Employment status |
Minimum 3 years of work experience for salaried; 5 years of business continuity for self-employed |
CIBIL Score |
725 or higher (Check your CIBIL Score online for free) |
Apart from meeting these requirements, you must produce the following documents for a home loan up to Rs. 10 lakh:
FORM 16 or latest salary slips (for salaried individuals)
TR document or P&L statement (2 years) (for self-employed individuals)
Proof of business vintage of minimum 5 years (for self-employed individuals)
Basic KYC documents, such as address and identity proof
Bank account statements (last 6 months)
Note: These eligibility terms are general guidelines. Additional terms and conditions may apply.
Rs. 10 lakh home loan EMI for different tenures
Rs. 10 lakh home loan EMI for 5 years
The table below details the particulars regarding a home loan of Rs. 10 lakh for a tenure of 5 years from Bajaj Finserv.
Loan amount |
Rs. 10 lakh |
Loan tenure |
5 years |
Rate of Interest |
7.49% p.a. |
EMI |
Rs. 20,033 |
Total interest |
Rs. 2,01,992 |
Total amount payable |
Rs. 12,01,992 |
Rs. 10 lakh home loan EMI for 10 years
The table below details the particulars regarding a home loan of Rs. 10 lakh for a tenure of 10 years from Bajaj Finserv.
Loan amount |
Rs. 10 lakh |
Loan tenure |
10 years |
Rate of Interest |
7.49% p.a. |
EMI |
Rs. 11,865 |
Total interest |
Rs. 4,23,795 |
Total amount payable |
Rs. 14,23,795 |
Rs. 10 lakh home loan EMI for 15 years
The table below details the particulars regarding a home loan of Rs. 10 lakh for a tenure of 15 years from Bajaj Finserv.
Loan amount |
Rs. 10 lakh |
Loan tenure |
15 years |
Rate of Interest |
7.49% p.a. |
EMI |
Rs. 9,264 |
Total interest |
Rs. 6,67,600 |
Total amount payable |
Rs. 16,67,600 |
Rs. 10 lakh home loan EMI for 20 years
The table below details the particulars regarding a home loan of Rs. 10 lakh for a tenure of 20 years from Bajaj Finserv.
Loan amount |
Rs. 10 lakh |
Loan tenure |
20 years |
Rate of Interest |
7.49% p.a. |
EMI |
Rs. 8,050 |
Total interest |
Rs. 9,31,956 |
Total amount payable |
Rs. 19,31,956 |
Rs. 10 lakh home loan EMI for 25 years
The table below details the particulars regarding a home loan of Rs. 10 lakh for a tenure of 25 years from Bajaj Finserv.
Loan amount |
Rs. 10 lakh |
Loan tenure |
25 years |
Rate of Interest |
7.49% p.a. |
EMI |
Rs. 7,383 |
Total interest |
Rs. 12,15,023 |
Total amount payable |
Rs. 22,15,023 |
Rs. 10 lakh home loan EMI for 30 years
The table below details the particulars regarding a home loan of Rs. 10 lakh for a tenure of 30 years from Bajaj Finserv.
Loan amount |
Rs. 10 lakh |
Loan tenure |
30 years |
Rate of Interest |
7.49% p.a. |
EMI |
Rs. 6,985 |
Total interest |
Rs. 15,14,708 |
Total amount payable |
Rs. 25,14,708 |
Features and benefits of Rs. 10 lakh home loan EMI
-
Reasonable rate of interest
Starting from 7.49%* p.a, Bajaj Finserv offers applicants an affordable home loan option to fit their finances.
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Speedy disbursal
No more long waits for loan amounts with Bajaj Finserv. Find your sanction amount in your bank account in just 48* hours from approval.
-
Ample sanction amount
Bajaj Finserv provides loan amounts as much as up to Rs. 15 Crore*, to eligible candidates, to boost your home buying journeys.
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5000+ project approved
Find over 5000+ choices in approved projects and enjoy better home loan terms from Bajaj Finserv.
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External benchmark linked loans
By opting for the Bajaj Finserv Home Loan linked to an external benchmark, applicants can enjoy reduced EMIs along with favourable market conditions.
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Digital monitoring
Now keep a close eye on all your loan developments and EMI schedules through the Bajaj Finserv online platform.
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Long tenor stretch
The Bajaj Finserv home loan tenor stretches up to 32 years allowing borrowers a buffer period to plan out their EMI payments.
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Zero contact loans
Experience a truly remote home loan application from anywhere in India by applying Bajaj Finserv online home loans and getting an easy approval.
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No prepayment and foreclosure charge
Bajaj Finserv allows you to foreclose the loan or make part-prepayments at no extra costs or prepayment penalty – making way for maximum savings.
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Loan subsidies
Avail of the loan subsidies offered under the PMAY scheme, with Bajaj Finserv. Approach us for updated terms and best home loan deals.
Interest rate and fees for Rs. 10 lakh home loan EMI
The home loan interest rate we offer are some of the most affordable in the market and can help keep costs in check.
*Conditions Apply
How to apply for Rs. 10 lakh home loan
To apply, follow these steps:
- Click on the 'APPLY' button located on this page.
- Fill in your full name, mobile number, and employment type.
- Choose the loan type you want to apply for.
- Generate and submit the OTP to verify your phone number.
- After verifying the OTP, provide additional details such as your monthly income, desired loan amount, and whether you have identified a property.
- Next, enter your date of birth, PAN number, and any other information requested based on your occupation.
- Finally, click on the 'SUBMIT' button.
That’s it! Your application will be submitted, and a representative will contact you to guide you through the next steps.
Helpful links for understanding home loan process
Apply for a home loan in different cities
Home loan calculators
Frequently asked questions
For a Rs. 40 lakh home loan at an interest rate of 7.49% over a tenure of 20 years, the EMI would be approximately Rs. 32,199. This calculation can vary based on tenure and specific loan conditions. You can use a home loan EMI calculator for precise amounts based on different tenures.
The monthly EMI for a Rs. 10 lakh loan at an interest rate of 7.49% for a tenure of 20 years would be around Rs. 8,050. This will differ based on your specific lender and loan terms.
You can calculate the EMI for a Rs. 10 lakh home loan using the formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N - 1], where P is the loan amount, R is the monthly interest rate (annual rate ÷ 12), and N is the loan tenure in months. Alternatively, use a home loan EMI calculator for quick results.
Yes, you can get a Rs. 10 lakh home loan if you meet the lender’s eligibility criteria. Factors like your income, credit score, repayment capacity, and property value determine your loan approval.
At an 7.49% interest rate, the EMI for a Rs. 10 lakh home loan depends on the tenure. For example, for 5 years, the EMI will be Rs. 20,033, and for 20 years it will be Rs. 8,050. You can also use a home loan EMI calculator for precise calculations.
If you choose a 25-year tenure for a Rs. 10 lakh home loan, your EMI will be lower due to the extended repayment period. However, you may end up paying more in total interest. The actual EMI amount depends on the interest rate offered by your lender. You can use an EMI calculator to estimate it accurately based on your loan terms.
For a 20-year tenure, your EMI will be slightly higher than for a 25-year loan, but the total interest paid will be lower. This option balances manageable monthly payments with reduced interest outflow. The EMI varies with the interest rate charged, so use a home loan EMI calculator to get a clearer estimate for your specific case.
Most lenders allow a maximum repayment tenure of up to 30 years, depending on your age, income, and eligibility. Choosing a longer term lowers your EMI but increases total interest paid. If you opt for the full 30 years, your loan can be more affordable month-to-month, but you may pay more over time.
Looking for extended tenures up to 32 years? Bajaj Finserv offers them along with competitive interest rates with EMIs starting at Rs. 687/lakh*. Check your eligibility in a few minutes using your mobile phone number and OTP.
Yes, you can get a Home Loan of Rs. 10 lakh if you meet your lender’s eligibility criteria. These generally include age, income stability, employment status, and a healthy credit score (usually 725 or above). Ensure you meet the terms and provide all required documents during application to improve your approval chances.
Bajaj Finserv offers competitive interest rates starting from 7.49%* p.a that you might already qualify for. Check your home loan offers now by entering your mobile number and verifying it with an OTP.
The EMI for a Rs. 10 lakh Home Loan depends on the interest rate and the repayment tenure you choose. For example, at an interest rate of 8.5% for 20 years, the EMI is around 8,678. You can check the exact figure using an EMI calculator provided by most lenders online.
The ideal tenure depends on your monthly income and financial goals. A longer tenure like 20–25 years can give you lower EMIs and ease your monthly burden, but you may pay more in interest. A shorter tenure saves on interest but increases the EMI. Choose a balance based on your budget and future plans.
Bajaj Finserv offers flexible tenures extending up to 32 years on home loans along with competitive interest rates. You might already be eligible. Check your offers now by entering your mobile number and verifying it with an OTP.
