The EMI on a ₹35 lakh home loan is ₹27,982 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 ₹24,233; at 8.50%, a typical rate for a lower credit score, the 20-year EMI is ₹30,374.
₹35 lakh home loan EMI by tenure and rate
| Tenure | 7.40% | 8.00% | 8.50% | 9.00% | 9.50% |
|---|---|---|---|---|---|
| 5 years | ₹69,967 | ₹70,967 | ₹71,808 | ₹72,654 | ₹73,507 |
| 10 years | ₹41,363 | ₹42,465 | ₹43,395 | ₹44,337 | ₹45,289 |
| 15 years | ₹32,247 | ₹33,448 | ₹34,466 | ₹35,499 | ₹36,548 |
| 20 years | ₹27,982 | ₹29,275 | ₹30,374 | ₹31,490 | ₹32,625 |
| 25 years | ₹25,637 | ₹27,014 | ₹28,183 | ₹29,372 | ₹30,579 |
| 30 years | ₹24,233 | ₹25,682 | ₹26,912 | ₹28,162 | ₹29,430 |
Monthly EMI on ₹35 lakh, reducing-balance method. Each column is a fixed annual rate for the full tenure.
₹35 lakh home loan EMI at each bank
| Bank | Starting rate | EMI, 20 years | Total interest, 20 years |
|---|---|---|---|
| Bank of Baroda | 7.40% | ₹27,982 | ₹32,15,713 |
| Canara Bank | 7.40% | ₹27,982 | ₹32,15,713 |
| Union Bank of India | 7.40% | ₹27,982 | ₹32,15,713 |
| Central Bank of India | 7.45% | ₹28,089 | ₹32,41,325 |
| Punjab National Bank | 7.45% | ₹28,089 | ₹32,41,325 |
| State Bank of India | 7.50% | ₹28,196 | ₹32,66,983 |
| Kotak Mahindra Bank | 7.60% | ₹28,410 | ₹33,18,439 |
| Axis Bank | 8.00% | ₹29,275 | ₹35,26,097 |
| HDFC Bank | 8.00% | ₹29,275 | ₹35,26,097 |
| ICICI Bank | 8.75% | ₹30,930 | ₹39,23,170 |
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 ₹35 lakh loan
RBI rules cap a housing loan above ₹30 lakh and up to ₹75 lakh at 80% of the property value. To borrow ₹35 lakh, the property must be worth at least ₹43,75,000, so the down payment is at least ₹8,75,000. Stamp duty and registration are extra and are not funded by the loan.
Salary needed for a ₹35 lakh home loan
| Tenure | EMI at 7.40% | Net monthly income if EMI is 50% of income | If EMI is 60% of income |
|---|---|---|---|
| 15 years | ₹32,247 | ₹64,494 | ₹53,745 |
| 20 years | ₹27,982 | ₹55,964 | ₹46,637 |
| 25 years | ₹25,637 | ₹51,275 | ₹42,729 |
| 30 years | ₹24,233 | ₹48,467 | ₹40,389 |
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 ₹35 lakh home loan
| Tenure | EMI | Total interest | Total repaid |
|---|---|---|---|
| 10 years | ₹41,363 | ₹14,63,581 | ₹49,63,581 |
| 15 years | ₹32,247 | ₹23,04,435 | ₹58,04,435 |
| 20 years | ₹27,982 | ₹32,15,713 | ₹67,15,713 |
| 25 years | ₹25,637 | ₹41,91,238 | ₹76,91,238 |
| 30 years | ₹24,233 | ₹52,23,985 | ₹87,23,985 |
Paying an extra 5% of the loan (₹1,75,000) once a year on a 20-year loan at 7.40% saves ₹17,34,244 in interest and ends the loan 120 months early. Floating-rate home loans to individuals carry no prepayment penalty.
Tax benefit on a ₹35 lakh home loan
In year 1 at 7.40% over 20 years you pay about ₹2,56,341 as interest and ₹79,444 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.
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