₹20 Lakh Home Loan EMI: Bank-wise EMI for 5–30 Years

The EMI on a ₹20 lakh home loan is ₹15,990 a month over 20 years at 7.40% p.a., the lowest starting rate among large banks in October 2026 (Bank of Baroda, Canara Bank, Union Bank of India). Over 30 years it falls to ₹13,848; at 8.50%, a typical rate for a lower credit score, the 20-year EMI is ₹17,356.

₹20 lakh home loan EMI by tenure and rate

Monthly EMI on ₹20 lakh, reducing-balance method. Each column is a fixed annual rate for the full tenure.

₹20 lakh home loan EMI at each bank

Starting rates from each bank's official rate page, checked 26 October 2026. Starting rates go to borrowers with high credit scores; your offer depends on CIBIL score, income type and loan amount. The RBI raised the repo rate to 5.50% on 7 October 2026.

Property value and down payment for a ₹20 lakh loan

RBI rules cap a housing loan up to ₹30 lakh at 90% of the property value. To borrow ₹20 lakh, the property must be worth at least ₹22,22,222, so the down payment is at least ₹2,22,222. Stamp duty and registration are extra and are not funded by the loan.

Salary needed for a ₹20 lakh home loan

Lenders usually keep all EMIs, including this one, within 50–60% of net monthly income for salaried borrowers; existing EMIs reduce the amount you qualify for.

Total cost of a ₹20 lakh home loan

Paying an extra 5% of the loan (₹1,00,000) once a year on a 20-year loan at 7.40% saves ₹9,90,997 in interest and ends the loan 120 months early. Floating-rate home loans to individuals carry no prepayment penalty.

PMAY-U 2.0 subsidy on this loan

A loan of this size can qualify for the PMAY-U 2.0 interest subsidy if the household income is up to ₹9 lakh a year, the property costs up to ₹35 lakh, and no one in the household owns a pucca house. The subsidy is 4% on the first ₹8 lakh of the loan for up to 12 years, capped at ₹1.80 lakh and paid to the loan account in five yearly instalments. Source: PMAY-U 2.0 Interest Subsidy Scheme.

Tax benefit on a ₹20 lakh home loan

In year 1 at 7.40% over 20 years you pay about ₹1,46,481 as interest and ₹45,397 as principal. Under the old tax regime, interest on a self-occupied home is deductible up to ₹2 lakh a year and principal repayment up to ₹1.5 lakh a year (Sections 24(b) and 80C of the Income-tax Act, 1961; the same limits continue under the Income-tax Act, 2025 from tax year 2026-27). The new tax regime does not allow these deductions for a self-occupied home.

Work out your own figure with the home loan EMI calculator or the prepayment calculator, and compare offers on the home loan interest rates page.