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A Home Loan EMI, or Equated Monthly Instalment, is a fixed monthly payment a borrower makes towards repaying the loan over a set period. For a ₹ 1 Crore Home Loan, EMI is determined by three major factors: the loan amount, interest rate, and tenure. We, at L&T Finance offer flexible repayment options, enabling borrowers to select a tenure ranging from 3 to 30 years. While a shorter tenure results in higher EMIs but lower interest outgo, a longer one reduces your EMI but increases total interest paid.
Use the EMI formula:
EMI = [P x R x (1+R)^N] / [(1+R)^N – 1]
Where:
P = Principal loan amount
R = Monthly interest rate
N = Loan tenure in months
For a 1 Crore Home Loan, the EMI can range between ₹ 70,000 to ₹ 1,50,000 depending on tenure and interest rate.
The ₹ 1 Crore Home Loan EMI calculator is a smart digital tool that helps you estimate monthly EMIs before you apply. Just input:
You’ll instantly get your monthly EMI, total interest payable, and repayment schedule. This helps in better financial planning and decision-making.
Depending on the tenure you select, your monthly EMI will vary. Below is an indicative table for a ₹ 50,000 Personal Loan on Aadhar Card at 11% p.a.:
| Tenure | Monthly EMI (₹ ) | Total Interest (₹ ) | Total Repayment (₹ ) |
|---|---|---|---|
| 5 years | ₹ 2,07,000 | ₹ 24,20,000 | ₹ 1,24,20,000 |
| 10 years | ₹ 1,27,000 | ₹ 52,40,000 | ₹ 1,52,40,000 |
| 15 years | ₹ 1,01,000 | ₹ 82,00,000 | ₹ 1,82,00,000 |
| 20 years | ₹ 90,000 | ₹ 1,16,00,000 | ₹ 2,16,00,000 |
| 25 years | ₹ 84,000 | ₹ 1,52,00,000 | ₹ 2,52,00,000 |
| 30 years | ₹ 80,000 | ₹ 1,88,00,000 | ₹ 2,88,00,000 |
Note: The above are approximate figures and may vary with interest rate changes.
Eligibility Criteria:
| Type | Criteria |
|---|---|
| Residency | Indian resident or NRI |
| Age requirement | Salaried: 23 years to 70 years Self-employed: 25 years to 70 years |
| Profession | Salaried / self-employed professionals and non-professionals |
| Other: | Can be increased by adding co-applicant income or other verifiable income sources |
| Document Type | Required Document & Checks |
|---|---|
| Age Proof | Utility bills (not older than 2 months | Aadhaar Card | Driving License | Passport | Voter ID etc |
| Address Proof | Aadhar Card | Passport | Voter ID | Utility Bill | Driving License |
| Photo ID Proof | PAN and any one of the following- Aadhaar Card | Driving License | Passport | Voter ID | Job card by NREGA | Letter issued by the National Population Register containing details of name and address |
| Income Proof | Income proofs vary for different professionals across salaried , non-salaried and self employed. |
Please find the easy detailed list of required documents here
| Type | Document |
|---|---|
| Salaried | i. Salary slips for the last 3 months ii. Bank statements for 1 year iii. Latest Form 16 |
| Self Employed: Professionals | i. Latest two ITRs (personal and business) with computation of income ii. Advance tax challans (if available) iii. Latest two years of P&L accounts and balance sheets (with schedules), certified by a CA (both personal and business) iv. Bank account statements (current and savings accounts) for the last 1 year v. Qualification Proof of professionals |
| Self Employed: Non-Professionals | i. Latest 2 years ITRs with computation for individual applicants and co-applicants (if borrower is an individual) ii. Bank account statements (current and savings accounts) for the last 1 year iii. Latest 2 years of audited/CA-certified profit & loss accounts and balance sheets of the firm/company (if borrower is a firm/company) iv. Proof of Business (GST / Shop Establishment/Udayam Aadhar, etc.) v. MOA & AOA & Certificate of Incorporation vi. For Partnership Firm-Partnership Deed |
Assuming an interest rate of 8.70% p.a., here’s the EMI for 10 years:
| Interest Rate | Tenure | EMI | Total Interest Payable |
|---|---|---|---|
| ₹ 1 Crore | 10 years | ₹ 1,27,000/month (approx.) | ₹ 52,40,000 |
Here is the EMI breakdown for a 15-year tenure:
| Interest Rate | EMI per month (Approx.) | Total Interest Payable | Total Amount Payable |
|---|---|---|---|
| 8.70% p.a. | ₹ 1,01,000 | ₹ 82,00,000 | ₹ 1,82,00,000 |
For those seeking a longer tenure:
| Tenure | Interest Rate | EMI | Total Interest Payable |
|---|---|---|---|
| 20 years | 8.70% | ₹ 90,000 | ₹ 1,16,00,000 |
Longer repayment tenure results in higher interest but lower monthly EMI:
| Interest Rate | EMI (Approx.) | Total Interest | Total Amount |
|---|---|---|---|
| 8.70% p.a. | ₹ 84,000 | ₹ 1,52,00,000 | ₹ 2,52,00,000 |
Longer repayment tenure results in higher interest but lower monthly EMI:
| EMI | Tenure | Interest | Total Payable |
|---|---|---|---|
| ₹ 80,000/month | 30 years | ₹ 1,88,00,000 | ₹ 2,88,00,000 |
List of all fees and charges for Home Loan
| Type | Interest Rate and Charges |
|---|---|
| Processing Fees / Documentation Charges: | Up to 3% of sanctioned amount + applicable taxes (this is inclusive of Login Fee) |
| Login Fees: | Up to ₹ 5000 (inclusive of applicable taxes)(non refundable) |
| EMI Dishonour/Bounce Charge* | As shown in the table below |
| *A bounce charge is a charge for (i) dishonour of any repayment instrument; or (ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate | |
| Loan sanction amount (in INR) | Charges in (in INR) |
| < ₹ 5 Lakh | ₹ 500 |
| ₹ 5 Lakh - ₹ 50 Lakh | ₹ 1000 |
| > ₹ 50 Lakh – ₹ 2 Crore | ₹ 1500 |
| > ₹ 2 Crore | ₹ 2000 |
| Penal Charge/Late Payment Charges (LPC): | 2% per month on overdue EMI + applicable taxes |
| *LPC revised from 3% to 2% per month on overdue EMI w.e.f. 4th Dec 2023 | |
| *Taxes applicable on LPC w.e.f. 1st Apr 2024 | |
| Annual Maintenance Charges: | NA |
| Duplicate NOC Charges: | First 3 paper copies - free of cost |
| ₹ 250/- + applicable taxes | |
| Repayment Swap Charges (per swap): | ₹ 500/- + applicable taxes (applicable only for branch walk-ins) |
| Charges for documents: | Nil for Statement of Account/Repayment Schedule /Foreclosure Letter & Welcome Kit |
| Valuation Charges: | As per actuals |
| Documentation Charges: | As per actuals |
| Cash Pickup Charges: | NIL |
| Interest Rate Conversion Charges: | Up to 0.5% on Balance Loan Amt + applicable taxes (or) Minimum ₹ 10,000/– whichever is higher |
| List of documents: | ₹ 300/ – +applicable taxes |
| Providing Photo copies: | ₹ 500/ – +applicable taxes of the documents (property & others) |
| Charges incurred by LTF for initiating action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002: | Issue of Loan Recall Notice = ₹ 500/ – |
| Issue of Demand Notice = ₹ 1,000/ – | |
| Issue of Possession Notice = ₹ 2,000/ – | |
| Applying District Magistrate Order = ₹ 8,000/ – | |
| Taking Physical possession = ₹ 20,000/ – | |
| Actual cost incurred will be debited for expenses pertaining to Publication of Possession Notice/ Publication Demand Notice/Publication of Sale cum Auction Notice | |
| Legal / Recovery Charges (Other than pertaining to SARFAESI): | As per actuals |
| Loan Cancellation Charges: | ₹ 5000/ – + applicable taxes |
| Foreclosure / Full Prepayment Charges: | For Individual / Non-Individual Borrowers – |
| Floating Rate – Nil Charge | |
| Fixed Interest Rate – | |
| i. Less than 1 year from disbursement – up to 3% on principal outstanding + applicable taxes | |
| ii.Post 1 year of disbursement – up to 2% on principal outstanding + applicable taxes | |
| Foreclosure / Full Prepayment Charges – Home Loan: | Fixed Interest Rate – |
| i. Less than 1 year from disbursement – up to 3% on principal outstanding + applicable taxes | |
| ii. Post 1 year of disbursement – up to 2% on principal outstanding + applicable taxes | |
| Pre-payment Charges – Home Loan: | For Individual / Non-Individual Borrowers – |
| Floating Rate – Nil Charge | |
| Fixed Interest Rate – | |
| i. Less than 1 year from disbursement – up to 3% on Partial Prepayment amount + applicable taxes | |
| ii. Post 1 year of disbursement – up to 2% on Partial / Prepayment amount + applicable taxes | |
| Switch Charges: | Up to 1% on principal outstanding loan amount + applicable taxes (or) minimum Rs.10,000/– whichever is higher |
| Non-Compliance Charges: | Up to 1% p.a. of principal outstanding loan amount + applicable taxes |
*Terms & Conditions Apply. All actual charges will be as per Key Fact Statement (KFS) shared by the company.
Apply for Home Loan with these steps
1. Submit Personal and Income Details
Get your eligibility assessed in just 5 minutes* with your personal and income details
2. Provide Property details
Submit your property details in order to get the digitised sanction on your Home Loan without any delay
3. Get your final offer
Receive your sanction letter which includes the interest rate, tenure and your loan amount details
4. Finish Your eKYC Process
Complete your electronic Know Your Customer (eKYC) verification by providing necessary documents
5. Authorise Your Mandate and Get Your Loan Approved:
Complete the eMandate process to secure official approval for your loan and proceed with disbursement
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