Home Loan EMI For ₹70 Lakh
Many home buyers turn to Home Loans for funding their dream purchase. You can consider Kotak Mahindra Bank to take a Home Loan of ₹70 Lakh with competitive Home Loan interest rates and Home Loan EMIs.However, the final EMI amount will depend on your loan amount, interest rate, and repayment tenure. You can select a loan term of up to 25 yea₹Let’s see how it works.
Home Loan EMI Calculator For ₹70 Lakh
A Home Loan EMI calculator calculates EMIs for various loan terms, based on which you can select a loan tenure with a budget-friendly EMI for your ₹70 Lakh loan. Just enter these three variables to get the desired results: loan amount, interest rate, and repayment tenure. You can adjust the loan term until you find a loan EMI plan suitable to your monthly budget. Use Kotak Mahindra Bank’s Home Loan EMI Calculator now.
- Home Loan
Loan Amount
Minimum ₹ 10,00,000
Interest Rate
Tenure (Years)
Till April 2028
Equated Monthly Instalments (EMI)
10000
Apply Now
Principal
50,00,000
Interest Payable
2,00,000
Home Loan Amortization Schedule
Download
| Emi Nos | Opening Principal | EMI | Interest | Principal Repayment | Closing Principal |
|---|
See Less
See more
Monthly obligation should not be greater than Monthly Net Income
Guide to better loan finance
Resources to get the best out of your Home Loan and manage your finances prudently
EXPLORE NOW
₹70 Lakh Home Loan EMI Repayment As Per Tenure
A loan EMI calculator will help calculate the EMI amount based on your loan amount, interest rate, and loan tenure. EMIs for various commonly-selected loan terms are as follows:
| Loan Amount | Interest Rate | Repayment Tenure | EMI Amount |
|---|---|---|---|
₹70 Lakh | 8.75%* | 5 Years | ₹1,44,460 |
₹70 Lakh | 8.75%* | 10 Years | ₹87,728 |
₹70 Lakh | 8.75%* | 15 Years | ₹69,961 |
₹70 Lakh | 8.75%* | 20 Years | ₹61,859 |
₹70 Lakh | 8.75%* | 25 Years | ₹57,550 |
*T&C Apply
₹70 Lakh Home Loan Eligibility Criteria Required
Those looking to find out the Home Loan EMI for ₹70 Lakh must fulfil these eligibility requirements based on their profession:
| Eligibility Criteria | For Salaried | For Self-Employed |
|---|---|---|
| Age | 18-60 years | 18-65 years |
| Minimum Gross Income | Monthly salary of ₹20,000 if you live in Delhi, Mumbai, Pune, Chennai, and Bangalore Monthly salary of ₹15,000 if you reside in other cities | Minimum three years of business experience with a net income of ₹2,40,000 per annum for companies in Delhi, Mumbai, Pune, Chennai, and Bangalore, and ₹1,80,000 per annum for companies in other cities |
| Years of Services | Minimum 2 years | The business should have been existing for a min. of 3 years |
Eligible applicants must provide these documents to complete their application process at the Kotak Mahindra Bank:
- Identity proof, like Aadhar card, PAN card, driving licence, voter ID, passport, etc.
- Address proof, like Aadhar card, voter ID, driving licence, passport, etc.
- Age proof, like voter ID, passport, PAN card, Aadhar card, driving licence, etc.
- Signature proof, like a passport or PAN card
- Income proof
How to Apply for ₹70 Lakh Home Loan With Kotak Mahindra Bank?
Follow these steps to apply for a Home Loan above ₹70 Lakh with Kotak Mahindra Bank:
- Visit the official website of Kotak Mahindra Bank or download the mobile banking app
- Click the 'Apply Now' button and enter the required information in the Home Loan section
- Once the necessary details are provided, our Home Loan experts will reach out to facilitate the processing of your home loan application
What is the EMI for ₹70 Lakh Home Loan for a tenure of 10 years?
The structure of your EMI for ₹70 Lakh Home Loan would be as follows for a tenure of 10 years:
| Loan Amount | ₹70 Lakh |
|---|---|
| Interest Rate | 8.75%* |
| Loan Tenure | 10 Years |
| EMI Amount to Pay Each Month | ₹87,728 |
| Total Interest Payable | ₹35,27,447 |
| Total Payable Amount | ₹1,05,27,447 |
*T&C Apply
What is the EMI for ₹70 Lakh Home Loan for a tenure of 20 years?
Use a Home Loan calculator to calculate your ₹70 Lakh Home Loan EMI for a tenure of 20 years. Its repayment structure would be as follows:
| Loan Amount | ₹70 Lakh |
|---|---|
| Interest Rate | 8.75%* |
| Loan Tenure | 20 Years |
| EMI Amount to Pay Each Month | ₹61,859 |
| Total Interest Payable | ₹78,46,340 |
| Total Payable Amount | ₹1,48,46,340 |
*T&C Apply
What is the EMI for ₹70 Lakh Home Loan for 25 years tenure?
Do you want to repay your Home Loan in easy EMIs by choosing the maximum loan tenure of 25 years? Know how much it would cost:
| Loan Amount | ₹70 Lakh |
|---|---|
| Interest Rate | 8.75%* |
| Loan Tenure | 25 Years |
| EMI Amount to Pay Each Month | ₹57,550 |
| Total Interest Payable | ₹1,02,65,016 |
| Total Payable Amount | ₹1,72,65,016 |
*T&C Apply
Home Loan Up to ₹70 Lakh FAQs
Are there any tax benefits available on a ₹70 Lakh Home Loan?
You can claim a tax benefit of up to ₹1.5 Lakh on the principal amount under Section 80C and up to ₹2 Lakh on the interest amount under Section 24B.
Can I customise the repayment tenure for a ₹70 Lakh Home Loan to suit my financial situation?
Yes, Kotak Mahindra offers a flexible repayment term of up to 25 years. You can use a Home Loan EMI calculator to calculate the housing loan EMI for ₹70 Lakh for various loan terms and choose one that best suits your financial situation.
Can I use a ₹70 Lakh Home Loan to purchase a second home or vacation property?
Yes, you can buy a second home or vacation property with a ₹70 Lakh Home Loan. However, evaluate your finances and repayment capacity to ensure timely repayment.
What is the salary required for a ₹70 Lakh Home Loan?
To qualify for a Home Loan at Kotak Mahindra, you must earn at least ₹20,000 if you live in Delhi, Chennai, Mumbai, Pune, or Bangalore, and ₹15,000 if you live in any other city.
Can I apply for a ₹70 Lakh Home Loan with a co-applicant?
Yes, you can jointly apply for a Home Loan above ₹70 Lakh with a co-applicant having a good credit score.
Home Loan For Different Cities
Get Home Loan for Different Budgets
Learn all about Home Loan
- How to Calculate Hectare to Bigha-Definition, Chart, Examples
- How to apply for GPRA via eSampada and eAwas?
View all stories
Related Products
Home Loan For Women
To encourage women home buyers, Kotak Mahindra Bank offers affordable housing loans for women.
Apply Now
