EMI for an INR 25 Lakhs Home loan
Nov 01, 2022
A home loan can be one of the best ways to support one’s dream especially when it is about one’s own home. A home loan is a tool that benefits millions of people. We often wonder if we should exhaust our savings or take a loan instead. Even after liquidating investments and savings, there could still be reasons to opt for a home loan. You not only benefit from tax benefits, but you also enjoy the comfort of planning your funds better. This gives you the liberty in allocating funds towards house decoration, unexpected delays, etc. SMFG Grihashakti offers eligible borrowers a INR 25 lakh home loan in their home purchase journey.
Let’s understand the meaning of INR 25 Lakh Home Loan
If you have already decided on the house you wish to purchase, apply for a SMFG Grihashakti home loan to complete the transaction. Let’s assume your cost is INR 31 lakh and you are eligible to get 80% of this as a home loan, then you can get Grihashakti’s Rs. 25 lakh home loan. You can choose flexible repayment tenure between 5 years to 30 years and enjoy affordable interest rates. Grihashakti’s INR 25 lakh home loan benefits you in planning your finances better. If your documentation is complete, all verification checks are successfully done and the final agreement is executed, then your SMFG Grihashakti home loan can be processed in 72 business hours.
INR 25 lakh loan EMI Details
Your EMI amount depends on the loan amount, interest rate charged and the tenure selected. Based on your agreement with Grihashakti, the EMI amount could consist of other components such as insurance costs. Your INR 25 lakh home loan can help you buy the home of your choice. At Grihashakti, the home loan interest rates are competitively priced. It depends on your eligibility and our policy. Below table shows an illustrative understanding of INR 25 lakh home loan at an interest rate of 7.99% p.a. and 8.99% p.a. You will see a change in the EMIs as the tenures increase. These are estimated EMIs and they may not include additional charges that could be applicable as per the terms agreed upon.
| Tenure Options |
EMI @ 7.99% interest rate per annum |
EMI @ 8.99% interest rate per annum |
| 25 lakh home loan emi for 5 years |
INR 50,679 |
INR 51,884 |
| 25 lakh home loan emi for 10 years |
INR 30,319 |
INR 31,655 |
| 25 lakh home loan emi for 15 years |
INR 23,877 |
INR 25,342 |
| 25 lakh home loan emi for 20 years |
INR 20,895 |
INR 22,477 |
| 25 lakh home loan emi for 25 years |
INR 19,279 |
INR 20,963 |
| 25 lakh home loan emi for 30 years |
INR 18,327 |
INR 20,098 |
Must Read : What is the EMI for INR 15 Lakhs Home loan?
EMI Calculator for Rs. 25 Lakh home loan EMI
SMFG Grihashakti offers the convenience of a home loan EMI calculator. It is an online tool that provides you an opportunity to evaluate your future monthly expenses in detail. You only need to enter some basic details like rate of interest, loan amount, and preferred repayment tenure. You can also repeat the transaction as many times as you would like. Home loan EMI calculator is easy to use and free of cost. The total interest to be paid over the tenure of the loan on an INR 25 lakh home loan EMI with a tenure of 30 years would be Rs. 40,97,608 at an interest rate of 7.99% p.a. and Rs. 47,36,129 at 8.99% p.a. These interest amounts are based on the assumption that part-payments are not made by the applicant during the tenure.
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Eligibility and documents required for Rs. 25 lakh home loan
You can apply for Grihashakti’s INR 25 lakh home loan as a salaried or as a self-employed individual. Grihashakti’s home loan eligibility is from 21 years of age as resident Indians only. Also, the maximum age should be 65 years at loan maturity. As a salaried individual, you should be working with an MNC, listed public company, government company, private company, MSME, unlisted company, partnership firm, etc. As a self-employed individual, sole proprietor, CA, doctor, architect, partner in a partnership firm or a company. Eligibility further depends on your overall financial status. Your CIBIL score should be at least 700.
You need to submit the following list of documents. However, depending on your profile and our internal policies, we may request further documents:
- PAN
- Address Proof
- Bank statements of the past 6 months
- Proof of Income
- Salaried: Salary slips of past 2 months, past 2 years ITR and Form 16
- Self Employed: Last 2 years ITR, audited financials, etc.
- Property related documents
*Terms and conditions applicable. Loans are sanctioned at the discretion of SMFG Grihashakti. Please note that Aadhaar numbers should be masked before submission as per regulatory guidelines.
How to apply for a INR 25 lakh home loan?
You can apply for SMFG Grihashakti’s INR 25 lakh home loan online or offline. Online application is comfortable and time efficient. It can easily be carried out in the comfort of your home. You have to click on the ‘Apply Now’ button, enter basic details, upload your documents, and submit. If you decide to apply offline, then you can visit the nearest branch and take the process forward.
Other Loan Amount
Must Read : What is the EMI for an INR 40 Lakhs Home loan?
FAQ's
What is the interest on a home loan of INR 25 lakhs?
Home loan interest rates for INR 25 lakhs can start from 9.50%* per annum for salaried individuals and 10.50%* per annum for self-employed candidates.
What is the EMI for an INR 25 lakhs home loan for 30 years?
The INR 25 lakhs home loan EMI for 30 years will depend on the interest rate. For example, the EMI at 12% interest rate will be INR 25,715 while at 15% interest rate will be INR 31,611.
What will be the INR 25 lakhs home loan EMI for 5 years?
The INR 25 lakhs home loan EMI for 5 years will depend on the interest rate. For example, the EMI at 12% interest rate will be INR 55,611 while at 15% interest rate will be INR 59,475.
What will be the INR 25 lakhs home loan EMI for 10 years?
The INR 25 lakhs home loan EMI for 10 years will depend on the interest rate. For example, the EMI at 12% interest rate will be INR 35,868 while at 15% interest rate will be INR 40,334.
What will be the INR 25 lakhs home loan EMI for 20 years?
The INR 25 lakhs home loan EMI for 20 years will depend on the interest rate. For example, the EMI at 12% interest rate will be INR 27,527 while at 15% interest rate will be INR 32,920.
Can I get an INR 25 lakh home loan without collateral?
No, all home loans require the borrower to give a collateral that has the value equivalent to the loan amount so that the lending firm can use it as a security in the case of a default.
Can I avail income tax benefits on an INR 25 lakhs housing loan?
You can claim tax benefits on your INR 25 lakhs home loan under the Income Tax Act:
- Section 24: Up to INR 2 lakhs for a house loan on the interest paid for salaried persons.
- Section 80C: Up to INR 1.5 lakhs on repayment principal amount.
- Section 80EE: Up to INR 50,000 under certain conditions.
Disclaimer: *Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG Grihashakti. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG Grihashakti’s policy at the time of loan application. If you wish to know more about our products and services, please contact us.