Rs.20 Lakh Home Loan
Aspiring homebuyers who wish to purchase a residential property can avail of a Home Loan to meet their home financing requirements. Homebuyers can benefit from tailored Home Loan offerings with Bajaj Housing Finance. If you are looking for a housing loan of up to Rs.20 Lakh, all you have to do is meet our simple eligibility parameters to enjoy our attractive loan terms.
Features and Benefits of a Home Loan of up to Rs.20 Lakh
Some of the key features of the Bajaj Housing Finance Home Loan include:

No Part-Prepayment and Foreclosure Charges
Individual borrowers with floating interest rate Home Loans can prepay or foreclose their loan accounts at no additional charges. Note that this may change for individuals or non-individual borrowers who have availed of a loan to meet business expenses.

Flexible Tenure
When you get Home Loan from Bajaj Housing Finance, you have the option to repay the loan amount at your pace, with a longer repayment tenure.

Minimal Documentation
We have easy-to-meet eligibility criteria with minimal documentation and hassle-free processing.

Online Account Management
Access your loan details and transaction records via our customer portal online, without the hassle of visiting our physical branch.

Online Home Loan Calculators
To maximise your chances of getting approved for a Home Loan amount of your choice, you can use our online tools to appraise and make the right Home Loan application.

Quick Processing
Enjoy a hassle-free process with doorstep document pick-up, easy approval, and speedy disbursal. Benefit with maximum convenience along with a competitive Home Loan interest rate.
Home Loan of Rs.20 Lakh: EMI for Various Tenures
To get an accurate idea of what your EMI payable can look like, upon availing of a Home Loan of Rs.20 Lakh, consider using the Home Loan EMI Calculator. You will only need to insert the following information to receive the results – loan principal amount, interest rate, and your preferred repayment tenure.
For a better understanding, let us look at the possible EMI payable, based on various Home Loan scenarios:
Rs.20 Lakh Home Loan EMI for 32 years
Loan amount | Tenure | Interest | EMI |
---|---|---|---|
Rs.20 Lakh | 32 years | 7.35%* p.a. | Rs. 13549 |
Rs.20 Lakh Home Loan EMI for 20 years
Loan amount | Tenure | Interest | EMI |
---|---|---|---|
Rs.20 Lakh | 20 years | 7.35%* p.a. | Rs. 15929 |
Rs.20 Lakh Home Loan EMI for 15 years
Loan amount | Tenure | Interest | EMI |
---|---|---|---|
Rs.20 Lakh | 15 years | 7.35%* p.a. | Rs. 18,370 |
Rs. 20 Lakh Home Loan EMI for 10 years
Loan amount | Tenure | Interest | EMI |
---|---|---|---|
Rs.20 Lakh | 10 years | 7.35%* p.a. | Rs. 23,584 |
*The values in the preceding tables are subject to change.
Disclaimer:- The interest rate considered here, and its subsequent calculations are for illustrative purposes only. The calculations and actuals will differ basis the individual’s profile and loan requirements.
All Home Loan Calculators
Eligibility Criteria for a Home Loan of up to Rs.20 Lakh
To qualify for your desired Home Loan amount, you need to meet the following eligibility criteria:
Home Loan Eligibility Criteria | For Self-Employed Applicants | For Salaried |
---|---|---|
Age | 23 – 70 years** | 23 – 67 years** |
Citizenship Status | Indian residents (residents only) | Indians (including NRIs) |
Employment status | A business vintage of at least 3+ years in the current enterprise | Work experience of at least 3+ years at a public/private sector company, or an MNC |
**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
Interest Rate for a Home Loan of Rs.20 Lakh
Bajaj Housing Finance offers Home Loans at attractive interest rates, to know more about the interest rates, click here.
Tax Benefits on a Home Loan of up to Rs.20 Lakh
A Home Loan of up to Rs.20 Lakh can offer significant tax benefits under the old tax regime of the Income Tax Act, 1961:
- Section 80C – You can claim a deduction of up to Rs.1.5 Lakh per financial year on the principal repayment of your Home Loan.
- Section 24(b) – You are eligible for up to Rs.2 Lakh deduction per year on the interest paid if the property is self-occupied. For let-out properties, there is no upper limit on interest deduction (total loss under “Income from House Property” is capped at Rs. Lakh).
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- Section 80EE (if applicable) – First-time homebuyers may claim an additional Rs.50,000 deduction on interest paid, over and above Section 24(b), provided:
- The loan amount does not exceed Rs.35 Lakh
- The property value does not exceed Rs.50 Lakh
- The loan is sanctioned between 1 April 2016 and 31 March 2017
Steps to Apply for a Home Loan of Rs.20 Lakh
Your Home Loan application journey with Bajaj Housing Finance will be hassle-free and over in minutes. Here is all you have to do:
- Visit the Home Loan application form on the Bajaj Housing Finance website.
- Enter your personal details such as your name, mobile number, and select the type of employment.
- Select the loan type you wish to avail of. Then, enter your net monthly income. Note: Click the info icon to learn more about the monthly income you need to enter.
- Enter the PIN code and the required loan amount.
- Click ‘Generate OTP’ and enter the received OTP in the respective field. After entering the OTP, click ‘Proceed'.
- Next, enter all the financial details as requested and complete the form. Note: The fields that you need to fill may vary basis your employment type.
- Click ‘Submit’ to submit the application form.
Once we receive your housing loan application, our representative will get in touch with you within 24 hours* to walk you through the next steps.
*Terms and conditions apply.
Rs.20 Lakh Home Loan: FAQs
To check your eligibility for a Home Loan, you can use our eligibility calculator. Here is how you can get started:
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Select your city of residence.
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Enter or select your date of birth.
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Enter your monthly income and obligations.
Once you enter the details, the calculator will instantly show the loan amount you can qualify for.
The EMI for a Rs.20 Lakh Home Loan depends on factors such as the interest rate, loan tenure, and your credit profile. To get the most accurate EMI based on your financials, use our Home Loan EMI Calculator. It lets you adjust tenure and interest rate to find a monthly payment that suits your finances.
With a repayment tenure extending up to 32 years, you can repay a Home Loan of Rs.20 Lakh easily with Bajaj Housing Finance.
The ideal tenure for a Home Loan of up to Rs.20 Lakh depends on your monthly repayment capacity. To understand this better, you can use our Home Loan EMI Calculator and compare different tenure options to choose an amount that you can manage monthly.
Yes, you may avail of a Home Loan of Rs.20 Lakh with a low credit score. However, you may secure a higher interest rate. Ideally, a score of 750 or above can help you secure a Home Loan at competitive terms. If you have a low credit score, you can take steps to improve it before applying, such as repaying existing debts on time, reducing credit card balances, and avoiding new credit enquiries.
You can use our Home Loan EMI Calculator to calculate your EMIs for a Home Loan of Rs.20 Lakh.
For a Home Loan of Rs.20 Lakh at an interest rate of 7.49% p.a. for a tenure of 10 years, the estimated EMI would be around Rs.23,730.
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