A Rs 2 Crore home loan is a big amount. You will not only need to check your eligibility but also the Rs 2 crore home loan EMI that you can comfortably pay in 10, 20 or 30 yrs. The EMI for a Rs 2 Crore home loan at 7.20%p.a for 30 yrs is Rs 1,35,758.
Paying your home loan EMI is the first thing that you pay once your salary gets credited. It is very important to take into account the magnitude of your home loan EMI beforehand taking a loan of big amount as Rs 2 Crore.
Following are the details of Rs 2 Crore home loan EMI for 10 years, 20 years and 30 years tenure at a 7.20% p.a. interest rate:
| EMI for a tenure of 10 years | Rs 2,34,284 |
| EMI for a tenure of 20 years | Rs 1,57,470 |
| EMI for a tenure of 30 years | Rs 1,35,758 |
Additional Info: Looking for 75 Lakh Home Loan? Check EMI & Apply
Below list shows the Home Loan Interest Rates for various banks along with their minimum and maximum interest rate per annum that they offer on a Rs 2 Crore home loan.
| Banks | Minimum Interest Rate | Maximum Interest Rate |
|---|---|---|
| State Bank of India | 7.55% | 8.25% |
| Bajaj Finserv | 7.20% | 14% |
| PNB Housing Finance Ltd. | 7.65% | 9.20% |
| Bank of Maharashtra | 7.30% | 9.20% |
| Kotak Mahindra Bank | 7.50% | 8% |
| HDFC Bank | 7.55% | 8.55% |
| Axis Bank | 7.60% | 12% |
| ICICI Bank | 7.60% | 8.45% |
| Tata Capital | 7.75% | 9.20% |
| Federal Bank | 8.55% | 8.70 |
Additional Info: Looking for 30 Lakh Home Loan? Check EMI & Apply
Some of the best banks that offer home loans of Rs 2 Crores are:
The interest rate for the loan of Rs. 2 Crores starts from 7.20% p.a. at present, and it may differ from lender to lender for different borrowers based on their income, credit score, gender, and other eligibility factors. Upon doing your Home Loan Eligibility check the maximum interest rate that you can be offered is around 14% but that is for a few cases where the credit score of the applicant is quite poor.
Additional Info: Looking for Best Banks For Personal Loan?
Below is the table for Rs 2 Crore home loan EMI for different banks for 10, 20 and 30 years using the Rs 2 Crores Home Loan EMI Calculator:
| Bank/NBFC | Rate of Interest | EMI for 10 Years | EMI for 20 Years | EMI for 30 Years |
|---|---|---|---|---|
| State Bank of India | 7.55% – 8.25% p.a. | Rs 2,37,926 – Rs 2,45,305 | Rs 1,61,731 – Rs 1,70,413 | 1,40,528 – Rs 1,50,253 |
| Bajaj Finserv | 7.20% – 14% p.a. | Rs 2,34,284 – Rs 3,10,533 | Rs 1,57,470 – Rs 2,48,804 | Rs 1,35,758 – Rs 2,36,934 |
| PNB Housing Finance Ltd. | 7.65% – 9.20% p.a. | Rs 2,38,972 – Rs 2,55,521 | Rs 1,62,958 – Rs 1,82,526 | Rs 1,41,903 – Rs 1,63,811 |
| Bank of Maharashtra | 7.30% to 9.20% p.a. | Rs 2,35,321 – Rs 2,55,521 | Rs 1,58,682 – Rs 1,82,526 | Rs 1,37,114 – Rs 1,63,811 |
| Kotak Mahindra Bank | 7.50% to 8% p.a. | Rs 2,37,404 – Rs 2,42,655 | Rs 1,61,119 – Rs 1,67,288 | Rs 1,39,843 – Rs 1,46,753 |
| HDFC Ltd | 7.55% – 8.55% p.a. | Rs 2,37,926 – Rs 2,48,507 | Rs 1,61,731 – Rs 1,74,198 | Rs 1,40,528 – Rs 1,54,492 |
| ICICI Bank | 7.60% to 8.45% p.a. | Rs 2,38,449 – Rs 2,47,437 | Rs 1,62,344 – Rs 1,72,932 | Rs 1,41,215 – Rs 1,53,075 |
| Citibank | 6.95% – 7.25% p.a. | Rs 2,31,702 – Rs 2,34,802 | Rs 1,54,460 – Rs 1,58,075 | Rs 1,32,390 – Rs 1,36,435 |
| Indian Bank | 7.30% – 8.80% p.a. | Rs 2,35,321 – Rs 2,51,192 | Rs 1,58,682 – Rs 1,77,381 | Rs 1,37,114 – Rs 1,58,055 |
| Bank of Baroda | 7.45% – 8.80% p.a. | Rs 2,36,882 – Rs 2,51,192 | Rs 1,60,508 – Rs 1,77,381 | Rs 1,39,159 – Rs 1,58,055 |
Additional Info: Also check Pan Number for Banks
Taking a home loan of an amount as big as Rs 2 crores requires financial discipline. More so when you plan to take it for a tenure of 10 yrs .
Following table depicts different EMIs on Rs. 2 Crores loan for different interest rates for a tenure of 10 yrs.
| Rate of Interest (p.a.) | EMI for 10 yrs tenure (in Rs.) | Total interest (in Rs.) | Total Outgo (in Rs.) |
|---|---|---|---|
| 7.20% | 2,34,284 | 81,14,154 | 2,81,14,154 |
| 7.50% | 2,37,404 | 84,88,425 | 2,84,88,425 |
| 7.65% | 2,38,972 | 86,76,667 | 2,86,76,667 |
| 7.80% | 2,40,547 | 88,65,610 | 2,88,65,610 |
| 8.55% | 2,48,507 | 98,20,783 | 2,98,20,783 |
You can also note the difference in total interest and total amount payable when you compare the minimum and maximum interest rate on your Rs 2 Crore home loan.
This is the most likely tenure which many of you will go for. Why? because it is a balance between home loan EMI and the overall home loan interest amount that you will pay at the end of the tenure.
Below is the table depicting different EMIs on Rs. 2 Crores loan at the different interest rates for 20 years tenure:
| Rate of Interest (p.a.) | EMI for 20 yrs tenure (in Rs.) | Total interest (in Rs.) | Total Outgo (in Rs.) |
|---|---|---|---|
| 7.20% | 1,57,470 | 1,77,92,766 | 3,77,92,766 |
| 7.50% | 1,61,119 | 1,86,68,473 | 3,86,68,473 |
| 7.65% | 1,62,958 | 1,91,09,918 | 3,91,09,918 |
| 7.80% | 1,64,807 | 1,95,53,730 | 3,95,53,730 |
| 8.55% | 1,74,198 | 2,18,07,539 | 4,18,07,539 |
The highest tenure that banks or any lending institution will grant you is 30 yrs. Be mindful that in this tenure you will accrue the lowest EMI but your overall payment to the bank will increase. So always go for that tenure for which your Rs 2 Crore home loan EMI fits within your budget. For this, you can use our home loan EMI calculator to assess and see how much monthly EMI you will have to pay on your 2 crores home loan.
Below is the table of different EMIs on Rs 2 Crores loan at the different interest rates for 30 years tenure:
| Rate of Interest (p.a.) | EMI for 30 yrs tenure (in Rs.) | Total interest (in Rs.) | Total Outgo (in Rs.) |
|---|---|---|---|
| 7.20% | 1,35,758 | 2,88,72,751 | 4,88,72,751 |
| 7.50% | 1,39,843 | 3,03,43,445 | 5,03,43,445 |
| 7.65% | 1,41,903 | 3,10,85,031 | 5,10,85,031 |
| 7.80% | 1,43,974 | 3,18,30,676 | 5,18,30,676 |
| 8.55% | 1,54,492 | 3,56,17,107 | 5,56,17,107 |
The factors that affect Rs. 75 lakh home loan EMI are:
You have to meet the following Home Loan Eligibility Criteria to be eligible to avail of a home loan of Rs. 2 Crore:
Additional Info: You can also Check Banglarbhumi West Bengal Land Record
You will have to submit the following documents to apply for Rs 5 crore home loan:
Additional Info: Also check Documents Required For Home Loan
You will have to submit the following documents to apply for Rs 2 Crore home loan:
The step-by-step process to apply for a home loan of Rs 2 Crores is given below:
Home loan interest rates are the lowest ever in the past 15 years. With raining festival offers on home loan, currently you can avail of the best interest rate on Bajaj Finserv home loan @7.70% p.a for all loan amounts.
You can avail the lowest Home Loan EMI at Rs. 727/- per lakh with maximum repayment flexibility. Some options are Step-Up EMIs, Step Down EMIs, Moratorium, OD facility, balance transfer, top up and more.
Home Loans at floating interest rate (linked to repo rate) offer you ultimate prepayment flexibility. There is no part or full prepayment charge. You can prepay early & reduce interest cost as per your cash flows.
