Planning to take a home loan of Rs. 30 lakh to purchase your ideal home? Before you apply, it’s a good idea to understand how your loan repayments will work. One of the key things to consider is the EMI – the fixed monthly amount you’ll pay towards your loan. The EMI depends on both the loan tenure and the interest rate. By calculating this in advance, you can manage your budget more efficiently. An online EMI calculator can give you a quick estimate of your monthly payments. In this article, we’ll break down what your EMI might look like for a Rs. 30 lakh home loan, across different loan tenures and interest rates, so you can plan with confidence.
Rs. 30 lakh home loan EMI
With this home loan from Bajaj Finserv, you can purchase an apartment, renovate an existing house, or construct a home to suit your needs. The sanction of up to Rs. 30 lakh is easy to access as you only have to meet minimal criteria and submit basic documentation. Thanks to the e-home loan feature, you can apply online and satisfy all requisites without stepping out.
A Rs. 30 lakh home loan can help you buy, build, or renovate your dream home. Understanding the 30 lakhs home loan EMI is crucial for effective financial planning. The EMI varies based on tenure and interest rates. Planning to purchase your dream home? Check your eligibility for a Bajaj Housing Finance Home Loan today. You may already be eligible, find out by entering your mobile number and OTP.
Here’s an estimated EMI breakdown for different loan tenures at an 7.99 % interest rate:
Loan amount |
Interest rate |
Loan tenure |
EMI (Rs.) |
Total interest payable (Rs.) |
Total payable amount (Rs.) |
Rs. 30 lakh |
7.99% p.a. |
5 years |
60,815 |
6,48,890 |
36,48,890 |
Rs. 30 lakh |
7.99% p.a. |
10 years |
36,382 |
13,65,891 |
43,65,891 |
Rs. 30 lakh |
7.99% p.a. |
15 years |
28,652 |
21,57,404 |
51,57,404 |
Rs. 30 lakh |
7.99% p.a. |
20 years |
25,075 |
30,17,888 |
60,17,888 |
Rs. 30 lakh |
7.99% p.a. |
25 years |
23,135 |
39,40,385 |
69,40,385 |
Rs. 30 lakh |
7.99% p.a. |
30 years |
21,992 |
49,17,130 |
79,17,130 |
Use a home loan EMI calculator to get an exact estimate based on your preferred tenure.
Rs. 30 lakh home loan eligibility and documents required
Criteria |
Salaried applicants |
Self-employed applicants |
Nationality |
Indian citizen residing in India |
|
Age |
Between 23 and 67 years* |
Between 23 and 70 years* |
Credit score |
CIBIL Score of 725 or higher |
|
Income |
Must have a steady source of income. Minimum income required varies based on city of residence. |
|
Work experience/ continuity |
At least 3 years of experience |
At least 5 years of business continuity |
*Maximum age considered at the time of loan maturity.
If you fulfil the criteria above, here are the documents required for home loan application with Bajaj Finserv.
- KYC documents (identity and address proof)
- Proof of income (salary slips or P&L statement)
- Proof of business (for self-employed applicants), and
- Account statements for the last 6 months
Note: This is an indicative list that may change based on your actual loan application.
Ready to start your home buying journey? Check your home loan offers from Bajaj Finserv now. You may already be eligible, find out by entering your mobile number and OTP.
Rs. 30 lakh home loan EMI for different tenures
Another online feature with this loan is the handy home loan EMI calculator. It plays a crucial role in helping you plan the loan and offers great insight about your potential EMIs. Use it before and during your home loan application.
Here are a few tables to help you get a better idea of the EMIs applicable on different loan terms.
Rs. 30 lakh home loan EMI for 30 years
The table below illustrates the results you get when using our home loan EMI calculator for a Rs. 30 lakh home loan with an interest rate of 7.99%* p.a. for a tenure of 30 years:
Loan amount |
Rs. 30 lakh |
Interest rate |
7.99% p.a. |
Loan tenure |
30 years |
EMI (Rs.) |
21,992 |
Total interest payable (Rs.) |
49,17,130 |
Total payable amount (Rs.) |
79,17,130 |
Note: This table has values that are subject to change**
Looking at different loan tenure options? Check your personalised Bajaj Housing Finance Home Loan eligibility to find the perfect plan for your budget. You may already be eligible, check your loan offer now by entering your mobile number and OTP.
Rs. 30 lakh home loan EMI for 25 years
The table below illustrates the results you get when using our home loan EMI calculator for a Rs. 30 lakh home loan with an interest rate of 7.99%* p.a. for a tenure of 25 years:
Loan amount |
Rs. 30 lakh |
Interest rate |
7.99% p.a. |
Loan tenure |
25 years |
EMI (Rs.) |
23,135 |
Total interest payable (Rs.) |
39,40,385 |
Total payable amount (Rs.) |
69,40,385 |
Rs. 30 lakh home loan EMI for 20 years
The table below illustrates the results you get when using our home loan EMI calculator for a Rs. 30 lakh home loan with an interest rate of 7.99%* p.a. for a tenure of 20 years:
Loan amount |
Rs. 30 lakh |
Interest rate |
7.99% p.a. |
Loan tenure |
20 years |
EMI (Rs.) |
25,075 |
Total interest payable (Rs.) |
30,17,888 |
Total payable amount (Rs.) |
60,17,888 |
Rs. 30 lakh home loan EMI for 15 years
The table below illustrates the results you get when using our home loan EMI calculator for a Rs. 30 lakh home loan with an interest rate of 7.99%* p.a. for a tenure of 15 years:
Loan amount |
Rs. 30 lakh |
Interest rate |
7.99% p.a. |
Loan tenure |
15 years |
EMI (Rs.) |
28,652 |
Total interest payable (Rs.) |
21,57,404 |
Total payable amount (Rs.) |
51,57,404 |
Rs. 30 lakh home loan EMI for 10 years
The table below illustrates the results you get when using our home loan EMI calculator for a Rs. 30 lakh home loan with an interest rate of 7.99%* p.a. for a tenure of 10 years:
Loan amount |
Rs. 30 lakh |
Interest rate |
7.99% p.a. |
Loan tenure |
10 years |
EMI (Rs.) |
36,382 |
Total interest payable (Rs.) |
13,65,891 |
Total payable amount (Rs.) |
43,65,891 |
Want to secure the best interest rates for your home loan? Check your eligibility for a Bajaj Housing Finance Home Loan with competitive rates starting at 7.49%* p.a. You may already be eligible, find out by entering your mobile number and OTP
Rs. 30 lakh home loan EMI for 5 years
Loan amount |
Rs. 30 lakh |
Interest rate |
7.99% p.a. |
Loan tenure |
5 years |
EMI (Rs.) |
60,815 |
Total interest payable (Rs.) |
6,48,890 |
Total payable amount (Rs.) |
36,48,890 |
Home loan for different budgets
Home Loan EMI based on amount |
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How to apply for Rs. 30 lakh home loan
Step-by-step guide to applying for a home loan:
- 1 Click on the 'APPLY' button on this page.
- 2 Enter your full name, mobile number, and employment type.
- 3 Now select the type of loan you wish to apply for.
- 4 Generate and submit your OTP to verify your phone number.
- 5 Upon OTP verification, enter additional details like your monthly income, required loan amount, and if you have identified the property.
- 6 In the next steps, enter your date of birth, PAN number and other details as requested depending on your selected occupation type.
- 7 Click on the ‘SUBMIT’ button.
That is it! Your application is submitted. Our representative will connect with you and guide you through the next steps.
Eligibility criteria for Rs. 30 lakh home loan
Here is a list of the requirements to meet in order to qualify for the sanction.
-
Nationality
Indian
-
Age
23 years to 67 years for salaried individuals, 23 years to 70 years for self-employed individuals
-
Employment status
At least 3 years years of experience for salaried individuals; at least 5 years years of business continuity for self-employed individuals
-
CIBIL score
725 or higher
*Please note that the list of eligibility terms mentioned above is indicative. Terms and conditions apply.
Home loan up to Rs. 30 lakh: Interest rate and fees
This Bajaj Finserv Home Loan has a competitive interest rate and nominal charges.
Read the complete list of fees and charges applicable on our home loan to take an informed decision.
*Conditions apply
Frequently asked questions
A monthly salary of around Rs. 65,000 - Rs. 75,000 is usually required to get a Rs. 30 lakh home loan, depending on the lender’s eligibility criteria and debt-to-income ratio.
For a Rs. 35 lakh home loan at an 8.5% interest rate and a 20-year tenure, the EMI would be around Rs. 30,373.
Eligibility for a Rs. 30 lakh home loan depends on factors like credit score, stable income, age, employment type, and existing financial obligations.
Yes, a Rs. 30 lakh home loan is eligible for tax exemption under Sections 80C and 24(b) of the Income Tax Act, 1961, on principal repayment and interest payment.
Use an online EMI calculator, enter the loan amount (Rs. 30 lakh), interest rate (8.5%), and tenure to get the monthly EMI, total interest, and repayment schedule.
Yes, you can get a Rs. 30 lakh home loan if you meet the lender’s eligibility criteria, including a good credit score, stable income, and proper documentation.
To plan for Rs. 30 lakh home loan EMI prepayment, calculate your monthly surplus and decide on a feasible prepayment amount. You can make partial prepayments or increase your EMI. Prepaying regularly reduces interest payments and shortens the loan tenure, making it more affordable in the long run.
The repo rate directly influences your home loan EMI if you have a floating interest rate. When the repo rate increases, your lender may raise the interest rate, leading to higher EMIs. Conversely, a decrease in the repo rate can lower your EMI, reducing your loan burden.
The EMI for a Rs. 30 lakhs home loan over 25 years at 8.25% p.a. interest is approximately Rs. 24,000 per month, calculated using Bajaj Finserv's EMI calculator.
For a Rs. 30 lakhs home loan over 20 years at 8.25% p.a., the EMI is roughly Rs. 25,850 per month with Bajaj Finserv.
Bajaj Finserv offers a maximum home loan tenure of up to 32 years, which can be availed for a Rs. 30 lakhs loan as well. Ready to take advantage of flexible repayment options? Check your Bajaj Housing Finance Home Loan eligibility now. You may already be eligible, find out by entering your mobile number and OTP.
Yes, you can get a home loan of Rs. 30 lakhs from Bajaj Finserv, subject to eligibility criteria like income and credit score.
The EMI for a Rs. 30 lakhs home loan depends on tenure and interest rate; for example, at 8.25% p.a. and 20 years tenure, it is about Rs. 25,850 per month. Want to calculate your exact EMI based on your preferred tenure? Check your loan offers from Bajaj Finserv today. You may already be eligible, find out by entering your mobile number and OTP.
An ideal loan tenure for a Rs. 30 lakhs home loan to maintain manageable EMI is typically 20-25 years balancing affordability and interest cost.
You may get a Rs. 30 lakhs home loan with a low credit score, but approval and interest rates depend on the lender’s policies and your overall profile.
