35 lakh Home Loan EMI: Tenure vs EMI comparison for better financial planning
A ₹35 lakh Home Loan is a common choice for many homebuyers today. It’s big enough to help you get a decent property, but not so large that it automatically feels out of reach. Still, the real challenge isn’t the Loan amount; it’s how your 35 Lakh Home Loan EMI fits into your monthly life. That’s where tenure plays a bigger role than most people expect.
What happens when you change tenure?
Let’s keep it simple. The longer you take to repay the Loan, the lower your EMI becomes. But there’s a catch: you end up paying more interest over time. At first, the lower EMI in longer tenures looks like the obvious choice. But when you look at the total amount paid by the end of the Loan, the difference becomes noticeable.
So, which tenure makes sense?
There’s no single answer here. It depends on how comfortable you are with your monthly outflow. A shorter tenure works if you want to finish the Loan quickly and don’t mind a tighter budget. But it leaves less room for other expenses, savings, or unexpected costs.
A longer tenure gives you breathing space every month. Your EMI is easier to handle, and you don’t feel stretched. The trade-off is that you stay in debt longer and pay more interest overall. Many people end up choosing something in between, long enough to keep the EMI manageable, but not so long that the interest becomes too heavy.
What if your salary is ₹80,000?
This is where it gets practical. If you’re wondering, "How much Home Loan can I get with an ₹80,000 salary?" The answer is more about what you’re comfortable with than just eligibility. If you earn ₹80,000 a month, an EMI between ₹32,000 and ₹36,000 is usually manageable.
So, a ₹35 Lakh Loan might fit better with a 20-year or longer tenure. Going for a 10-year tenure might look attractive on paper, but in reality, a ₹46,000 EMI can start to feel restrictive. It leaves little room for savings or lifestyle expenses.
Don’t plan EMI in isolation
One common mistake is looking only at the EMI and ignoring everything else. Your monthly spending doesn’t stop after you take a Home Loan.
There are regular costs, such as groceries, travel, and bills, and then there are occasional ones like repairs, maintenance, or even small upgrades to your home. If your EMI takes up too much of your income, these everyday expenses can start to feel like a burden.
Conclusion:
A ₹35 lakh Loan can be suitable if you plan according to your actual expenses rather than just the numbers. Select a tenure where the EMI fits comfortably within your budget, allowing you to maintain your lifestyle without frequent adjustments.