# ₹2 Crore Home Loan EMI & Interest Rate

Enjoy attractive interest rates starting at 8.45% p.a. with flexible EMI options

## ₹2 Crore Home Loan EMI

Planning to take a home loan of ₹2 crore? Did you consider your ₹2 crore home loan EMI yet? Calculating your home loan EMI in advance would help you understand your financial obligations and this in turn may help you better manage your finances.

The easiest and fastest way to calculate your home loan EMI would be using a ₹2 crore loan EMI calculator. However, you should have a comprehensive idea too on how EMI is calculated. The following sections details your EMI on ₹2 crore home loan.

## ₹2 Crore Home Loan EMI Details

When you take a home loan of ₹2 crore, you need to repay it within the specified repayment tenure through EMIs (Equated Monthly Instalments). Generally, home loan EMI depends on three factors – loan/principal amount, tenure and interest rate.

Let us use an example to better understand ₹2 crore home loan EMI. We have considered 8.45% p.a. as interest rate. With the help of ₹2 crore home loan EMI calculator, we have worked out how much your EMI would be for 10 years, 15 years, 20 years, 25 years and 30 years tenure. The table below provides the corresponding EMIs:

 Loan Amount (₹) Interest Rate (p.a.) Tenure EMI ₹ 2,00,00,000 8.45% 10 Years ₹ 2,47,437 ₹ 2,00,00,000 8.45% 15 Years ₹ 1,96,362 ₹ 2,00,00,000 8.45% 20 Years ₹ 1,72,932 ₹ 2,00,00,000 8.45% 25 Years ₹ 1,60,372 ₹ 2,00,00,000 8.45% 30 Years ₹ 1,53,075
Note: that this table is for illustrative purposes only

## ₹2 Crore Home Loan EMI Calculator

You can calculate your ₹2 crore house loan EMI either manually or via a home loan EMI calculator.

However, manual calculations are extremely time consuming and may leave room for errors. A better alternative would be using our home loan EMI calculator. This online tool is extremely easy to use and gives quick and accurate results in no time. All you need to do is select the loan amount, tenure and interest rate. Once done, you will be able to view your home loan EMI in seconds.

Loan Amount

Rate of Interest (P.a)

%

Loan Tenure (Years)

Years

Monthly EMI

0

Total Interest

Total Amount

## ₹2 Crore Home Loan Interest Rate & Other Charges

You can apply for a home loan up to ₹5 crore with Navi at attractive interest rates starting from 8.45% p.a. and flexible repayment tenures that can be extended up to 30 years. Here are the details of Navi Home Loan:
Navi offers competitive rates of interest that start from 8.45% p.a.
Choose the repayment tenure of your home loan at you convenience, which can be extended up to 30 years
No processing fee is charged for any loan amount
Enjoy zero pre-closure charges if you wish to close your loan account ahead of the specified tenure
Get home loans up to ₹5 crore to finance your dream house

## How to Apply for ₹2 Crore Home Loan?

Follow the steps given below to apply for a ₹2 crore home loan:
Download the Navi app from Google Play Store or App Store and install it on your phone.
Enter personal and employment details
Do your KYC with PAN, Aadhaar and bank statement
You’ll receive instant loan approval on your home loan along with a provisional sanction letter

## ₹2 Crore Home Loan EMI for 20 Years

Let’s say you want to clear your ₹2 crore home loan in 20 years. Now, if you want to manually calculate your EMI on ₹2 crore home loan for a tenure of 20 years, use the formula given below:

EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}

Where,

P = Principal/loan amount

R = Rate of interest per month. Suppose, the interest rate is 8.45% per annum. So, the monthly interest rate would be 0.007 (8.45 / 12 / 100).

N = Number of EMIs you have to pay. For instance, if your loan tenure is 20 years, N would be 240 (20 x 12).

So, if calculated manually, the ₹2 crore house loan EMI would be as follows:

EMI = ₹{2,00,00,000 x 0.007 x (1 + 0.007)^240} / {(1 + 0.007)^240 – 1} = ₹1,72,932

Manual calculations are not only time-consuming, but the results may be subject to errors. Navi Home Loan EMI Calculator instead, would provide accurate results in seconds. The details are as follows:

 Loan Amount ₹ 2,00,00,000 Rate of Interest 8.45% p.a. EMI ₹ 1,72,932 Total Interest ₹ 2,15,03,740 Total Repayment ₹ 4,15,03,740

## ₹2 Crore Home Loan EMI for 25 Years

Let’s take another instance. Suppose you want to apply for a home loan of ₹2 crore for a tenure of 25 years. Your EMI for home loan of  ₹2 crore would be:

EMI = {P x R x (1 + R)^N} / {(1 + R)^N – 1}

Where,

P = Principal/loan amount

R = Monthly rate of interest. If the rate of interest is 8.45% per annum, the monthly rate of interest will be 0.007 (8.45 / 12 / 100).

N = Number of EMIs you have to pay. For instance, if your loan tenure is 25 years, N would be 300 (25 x 12).

With manual calculation, the EMI for ₹2 crore home loan will be:

EMI = ₹{2,00,00,000 x 0.007 x (1 + 0.007)^300} / {(1 + 0.007)^300 – 1} = ₹1,60,372

As shown above, the procedure for manual calculation is lengthy and tedious. As an alternative, you can use the Navi Home Loan EMI calculator to arrive at the same results. The details are as follows:

 Loan Amount ₹ 2,00,00,000 Rate of Interest 8.45% p.a. EMI ₹ 1,60,372 Total Interest ₹ 2,81,11,625 Total Repayment ₹ 4,81,11,625

## ₹2 Crore Home Loan EMI for 30 Years

Now, let us check what would be the EMI for a home loan of ₹2 crore for a timeframe of 30 years. The formula for home loan EMI calculation is given below:

EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}

Here,

P = Principal/Loan amount

R = Rate of monthly interest. If the rate of interest is 8.45% per annum, the monthly rate of interest will be 0.007 (8.45 / 12 / 100).

N = Number of EMIs you have to pay. For instance, if your loan tenure is 30 years, N would be 360 (30 x 12).

Now, let us calculate the home loan EMI:

EMI = ₹{2,00,00,000 x 0.007 x (1 + 0.007)^360} / {(1 + 0.007)^360 – 1} = ₹1,53,075

The procedure for manual calculation not only takes up a lot of time but they are also quite complex. Using a ₹2 crore loan EMI calculator is a much better option. The details are provided below:

 Loan Amount ₹ 2,00,00,000 Rate of Interest 8.45% p.a. EMI ₹ 1,53,075 Total Interest ₹ 3,51,06,838 Total Repayment ₹ 5,51,06,838

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## Frequently Asked Questions

Generally, a home loan EMI is payable on a fixed date every month. When you avail a home loan, the lender will inform you of every detail regarding EMIs including the due dates. You can check the due dates and other terms of your loan by signing on to your lender’s website.
You can consider a home loan balance transfer, a method through which you can reduce your home loan EMIs. If you employ this method, you can transfer your existing home loan to another lender. Generally, people transfer their loans to a new lender when they get more favourable terms and conditions.
No, financial institutions cannot grant 100% of a property’s value as a loan according to RBI guidelines. Financial institutions usually sanction around 75% to 90% of the total property value. You need to bear the rest of the purchase cost. At Navi, you can receive up to 90% of the property cost as a loan, if you are found to be eligible.
Yes, you can always apply for a home loan jointly with your spouse or relative. There are quite a few benefits of a joint home loan. Firstly, you will receive better deals and favourable terms and conditions if your co-applicant has a high credit score. Secondly, joint home loan applications can bring down the risk factor significantly as they involve more than one applicant.
LTV (full form – Loan to Value) ratio is the percentage of the property value for which an applicant is eligible to avail a home loan. For example, if your LTV ratio is 60%, it indicates that you are eligible to receive 60% of the property value as a home loan. Navi offers home loans up to 90% of the property value.

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