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What is the EMI for an INR 25 Lakhs Home loan? Know the Details Here

Updated: May 17, 2022
What is the EMI for an INR 25 Lakhs Home loan? Know the Details Here

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. Fullerton 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 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 INR 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 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
5 years INR 50,679 INR 51,884
10 years INR 30,319 INR 31,655
15 years INR 23,877 INR 25,342
20 years INR 20,895 INR 22,477
25 years INR 19,279 INR 20,963
30 years INR 18,327 INR 20,098

EMI Calculator for INR 25 Lakh home loan EMI

Fullerton 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 INR 40,97,608 at an interest rate of 7.99% p.a. and INR 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.

Eligibility and documents required for INR 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
    1. Salaried: Salary slips of past 2 months, past 2 years ITR and Form 16
    2. Self Employed: Last 2 years ITR, audited financials, etc.
  • Property related documents

*Terms and conditions applicable. Loans are sanctioned at the discretion of Fullerton 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 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.

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