You may check here how much EMI you must pay monthly for a home loan of Rs. 16 lakhs. Verify monthly EMI calculations online for payback terms of 5, 10, 15, 20, 25, and 30 years. Detailed interest rate information of LIC Housing, SBI, HDFC Ltd, and ICICI bank are all provided here. So let’s see what is the EMI for 16 lakh home loan.
Check your home loan EMI using NoBroker Home Loan EMI Calculator Get a home loan via NoBroker here at very affordable interest rates.What is a 16 Lakh home loan EMI?
| Loan Amount | Tenure | Interest Rate | Monthly EMI (Rs) |
16 Lakhs |
5 Years |
8.20% |
32,596 |
16 Lakhs |
10 Years |
8.20% |
19,582 |
16 Lakhs |
15 Years |
8.20% |
15,476 |
16 Lakhs |
20 Years |
8.20% |
13,583 |
16 Lakhs |
25 Years |
8.20% |
12,562 |
16 Lakhs |
30 Years |
8.20% |
11,964 |
| Institution Name | Interest Rate |
SBI Home Loan |
8.70 - 9.40% |
HDFC Ltd |
8.65-9.85% |
ICICI Bank |
8.75-9.80% |
LIC Housing Finance |
8.65-10.25% |
PNB Housing |
8.75-11.70% |
Kotak Bank |
8.49-9.10% |
Bank of Baroda |
8.60-10.30% |
Canara Bank |
8.60-10.80% |
What are the eligibility criteria for 16 lakhs home loan?
You must be at least the minimum age of 21 required for a home loan.
According to the lender's policies and the applicant's employment profile, the maximum age of the applicant may range from 60 to 65 years.
The maximum number of years for which the loan may be used cannot be greater than the overall number of years till retirement.
Borrowers of loans may be paid employees, independent contractors, or independent non-consumers.
You as an applicant for a home loan need to be employed steadily and make a consistent living.
Your income must be at or above a set minimum set by various banks and lending organisations.
The salaried employee must have worked for their present employer for at least a year and have been employed for at least two years total.
Now you know EMI for 16 Lakh home loan.
Read More: When home loan EMI starts for under construction property? How to pay home loan EMI through credit card? When does EMI start for home loan HDFC?Your Feedback Matters! How was this Answer?
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What is the EMI for 16 lakh home loan?
Daksh
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2023-04-05T11:02:03+00:00 2023-04-06T12:48:29+00:00Comment
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