The EMI for Rs. 20 Lakhs home loan will not be the same for all. It depends on the interest amount fixed on the loan and the tenure. Now, every lender provides a home loan EMI calculator on their website. Using the calculator, you can find the EMI amount for different interest rates and tenures. 

To use the EMI calculator, you need to enter the following details. 

  • Loan Amount

  • Interest rate

  • Tenure

You will get a lower EMI for a longer tenure and low interest rate. However, the interest rate determined by the bank depends on your credit profile and eligibility. 

Below are the EMI amounts for different combinations of interest rates and tenures. 

Loan Amount = Rs. 20 Lakhs

Tenure = 30 Years

Interest rate = 9.55%

EMI = Rs. 16890

Loan Amount = Rs. 20 Lakhs

Tenure = 15 years

Interest rate = 8.25%

EMI = Rs. 19403