An OTP will be sent to this number for verification
You may have a pre-approved offer
Enter required home loan amount
In Summary
Understanding Home Loan Eligibility Salary, EMI & Loan Amount Explained
A Rs. 20 lakh home loan is well-suited for smaller flats in Tier 2/ Tier 3 cities or as supplemental financing alongside savings. The right tenure choice can save you lakhs in interest; understanding the EMI-tenure tradeoff before applying helps you plan better.
This page covers:
- Rs. 20 lakh home loan EMI table across 6 tenures (5 to 30 years)
- Detailed breakdown for each tenure: 30, 25, 20, 15, 10, and 5 years
- How to choose the right tenure for your situation
- How to reduce total interest on a Rs. 20 lakh loan
Show more
Show less
Rs. 20 lakh home loan EMI for different tenures
The EMI varies based on the repayment tenure chosen, at an interest rate of 7.25% p.a.**:
| Loan amount | Interest rate | Tenure | EMI |
| Rs. 20 lakh | 7.25% p.a.** | 30 years | Rs. 13,644 |
| Rs. 20 lakh | 7.25% p.a.** | 25 years | Rs. 14,456 |
| Rs. 20 lakh | 7.25% p.a.** | 20 years | Rs. 15,808 |
| Rs. 20 lakh | 7.25% p.a.** | 15 years | Rs. 18,257 |
| Rs. 20 lakh | 7.25% p.a.** | 10 years | Rs. 23,480 |
| Rs. 20 lakh | 7.25% p.a.** | 5 years | Rs. 39,839 |
Show more
Show less
Rs. 20 lakh home loan EMI for 30 years
A 30-year tenure significantly reduces your monthly EMI, easing the financial burden, but results in the highest total interest paid over the loan's life.
| Particulars | Details |
|---|---|
| Loan amount | Rs. 20,00,000 |
| Rate of interest | 7.25% p.a.** |
| Rs 20 lakh home loan EMI for 30 years | Rs. 13,644 |
| Total interest | Rs. 29,11,669 |
| Total amount payable | Rs. 49,11,669 |
Show more
Show less
Rs. 20 lakh home loan EMI for 25 years
A 25-year tenure offers lower monthly EMIs, suiting borrowers who want financial flexibility while balancing other expenses.
| Particulars | Details |
|---|---|
| Loan amount | Rs. 20,00,000 |
| Rate of interest | 7.25% p.a.** |
| Rs 20 lakh home loan EMI for 25 years | Rs. 14,456 |
| Total interest | Rs. 23,36,841 |
| Total amount payable | Rs. 43,36,841 |
Show more
Show less
Rs. 20 lakh home loan EMI for 20 years
A 20-year tenure strikes a balance between affordable EMIs and manageable total interest, suiting borrowers seeking moderate repayment terms.
| Particulars | Details |
|---|---|
| Loan amount | Rs. 20,00,000 |
| Rate of interest | 7.25% p.a.** |
| Rs 20 lakh home loan EMI for 20 years | Rs. 15,808 |
| Total interest | Rs. 17,93,805 |
| Total amount payable | Rs. 37,93,805 |
Show more
Show less
Rs. 20 lakh home loan EMI for 15 years
A 15-year tenure means slightly higher EMIs but a considerable reduction in total interest, ideal for those aiming to repay faster.
| Particulars | Details |
|---|---|
| Loan amount | Rs. 20,00,000 |
| Rate of interest | 7.25% p.a.** |
| Rs 20 lakh home loan EMI for 15 years | Rs. 18,257 |
| Total interest | Rs. 12,86,306 |
| Total amount payable | Rs. 32,86,306 |
Show more
Show less
Rs. 20 lakh home loan EMI for 10 years
A 10-year tenure ensures quick repayment with significant interest savings, though the monthly EMI is notably higher.
| Particulars | Details |
|---|---|
| Loan amount | Rs. 20,00,000 |
| Rate of interest | 7.25% p.a.** |
| Rs 20 lakh home loan EMI for 10 years | Rs. 23,480 |
| Total interest | Rs. 8,17,625 |
| Total amount payable | Rs. 28,17,625 |
Show more
Show less
Rs. 20 lakh home loan EMI for 5 years
A 5-year tenure offers the fastest repayment with the lowest overall interest cost, but the EMI is substantially higher, suited to borrowers with strong financial stability.
| Particulars | Details |
|---|---|
| Loan amount | Rs. 20,00,000 |
| Rate of interest | 7.25% p.a.** |
| Rs 20 lakh home loan EMI for 5 years | Rs. 39,839 |
| Total interest | Rs. 3,90,323 |
| Total amount payable | Rs. 23,90,323 |
How to choose the right tenure for a Rs. 20 lakh home loan
| Your priority | Recommended tenure | Why |
|---|---|---|
| Lowest possible EMI | 25-30 years | EMI under Rs. 15,0000 - eases monthly cash flow |
| Balanced EMI and interest | 15-20 years | EMI Rs. 15,000-19,000 — moderate interest cost |
| Minimise total interest | 5-10 years | Saves up to Rs. 25 lakh in interest vs. 30-year tenure, but requires higher EMI capacity |
A shorter tenure means higher EMIs but dramatically lower total interest: the difference between a 30-year and 10-year tenure on this loan amount is nearly Rs. 21 lakh in interest saved.
How to reduce total interest on a Rs. 20 lakh home loan
- Choose the shortest tenure your budget allows: Even moving from 20 to 15 years saves over Rs. 5 lakh in interest
- Make annual part-prepayments: Using bonuses or tax refunds to prepay reduces the principal and cuts interest significantly. Bajaj Finance charges no foreclosure fee on floating rate loans
- Improve your CIBIL score before applying: A score of 725+ may help you access the lower end of the rate range
- Consider a higher down payment: Reducing the loan amount itself (rather than borrowing the full eligible amount) reduces total interest proportionally
A Rs. 20 lakh home loan offers genuine flexibility: from a Rs. 13,644 EMI over 30 years to fast 5-year repayment at Rs. 39,839. Choose the tenure that matches your monthly budget and long-term financial goals. Bajaj Finance offers home loans from 7.25% p.a.** with amounts up to Rs. 15 Crore* and tenures up to 32 years. Check your eligibility today.
Frequently Asked Questions
Overview
Documents and Process
What is the EMI for a Rs. 20 lakh home loan for 20 years?
At 7.25% p.a.**, the EMI for a Rs. 20 lakh home loan over 20 years is Rs. 15,808. The total interest payable over the tenure is Rs. 17,93,805, bringing the total amount payable to Rs. 37,93,805.
Which tenure is best for a Rs. 20 lakh home loan?
There is no single "best" tenure: it depends on your monthly income and financial goals. If you can comfortably afford Rs. 23,480 per month, a 10-year tenure saves you over Rs. 21 lakh in interest compared to a 30-year tenure. If cash flow is tighter, a longer tenure of 20-25 years keeps EMIs manageable while you build other savings.
Can you change the tenure of your Rs. 20 lakh home loan after it is sanctioned?
In most cases, the tenure is fixed at the time of sanction based on your eligibility, age, and income. However, you can effectively shorten your loan's life by making prepayments, reducing either the EMI or the remaining tenure. Discuss this option with your relationship manager when making any prepayment.
What income is required to get a Rs. 20 lakh home loan?
For a 20-year tenure with an EMI of Rs. 15,808, most lenders require your total EMI obligations to not exceed 50-60% of take-home pay. This translates to a minimum monthly income of approximately Rs. 26,500 to Rs. 32,000, assuming no other active loans. Adding a co-applicant with income can ease this requirement.
Home loan for professionals
Home Loan in Different Cities
Home Loan in Mumbai
Home Loan in Ahmedabad
Home Loan in Bangalore
Home Loan in Chennai
Home Loan in Delhi
Home Loan in Hyderabad
Home Loan in Cochin
Home Loan in Noida
Home Loan in Pune
Home Loan for different budget
Check your pre-approved offer now
Our Calculators
What do our customers say about us
customers
Play Store rating
reviews
Amit Shiva
Reviewed on
Smooth and transparent home loan process. The interest rates were competitive, and documentation was minimal. The team guided me clearly at every step, making my first home purchase stress-free. Highly recommended for quick approvals.
Sandeep Kulkarni
Reviewed on
The loan disbursal was fast, and the customer support team was extremely patient with all my queries. Flexible EMIs helped me manage my monthly expenses easily. A great experience for salaried homebuyers.
Ritika Agarwal
Reviewed on
I had a great experience while transferring my existing home loan. The process was quick, and I saved significantly with the lower interest rate. Customer service was helpful throughout. Highly recommended for balance transfers.
Manoj Verghese
Reviewed on
Clear guidance, quick approval, and flexible repayment options made buying my new house easier than expected. The team handled everything professionally. Very satisfied and would definitely recommend their home loans
Find your nearest branch
More Articles
Watch our videos
Documents required to get a Bajaj Finance Home Loan
Tips to increase your Home Loan eligibility
Things you need to know about pre-approved home loan
Things you need to know before applying for a Home Loan
How does Repo Rate affect your Home Loan
Download App
Now request money from your friends and family and make instant payments.
- Choose from personal, business, gold loans and more
- Pay utility bills, use UPI, get FASTag and more
- Buy over 1 million products on No Cost EMI
- Buy stocks, mutual funds and invest in FD
Disclaimer
1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.
2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.