₹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 |
₹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
20 lakh Homeloan Interest and Other Charges
₹2 Crore Home Loan Interest Rate & Other Charges
How to Apply for ₹2 Crore Home Loan?
How to Apply For 20 lakh Homeloan?
₹20 Lakh Home Loan Eligibility & Documents Required
₹2 Crore Home Loan Eligibility & Documents Required
- Nationality: Indian Resident
- Employment Type: Salaried/Self-Employed
- Age: 25 years to 62 years
- PAN and Aadhaar card
- Bank statement or GST returns
₹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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