A home loan helps you buy or build a house by borrowing money from a bank.
You repay the loan through monthly EMI over a long period.
EMI is the monthly payment made to repay the loan.
Learn here: How EMI is Calculated
If you take ₹20 lakh home loan for 20 years, EMI will depend on interest rate and tenure.
Long tenure reduces EMI but increases total interest.
Learn credit score: What is Credit Score
Interest rate plays a major role in total repayment.
Learn here: How Bank Interest Works
Home loans have lower interest but longer tenure.
Learn here: How Personal Loan Works
Understand risks before taking a loan.
Read: How to Avoid Loan Traps
It depends on bank, but stable income is required.
15–20 years is considered balanced.
Yes, most banks allow prepayment.
Yes, due to lower interest rates.