# ₹3 Crore Home Loan EMI & Interest Rate

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

## ₹3 Crore Home Loan EMI

Getting a ₹3 crore home loan may not be too difficult if you’re eligible. However, the main challenge lies once you start repaying your loan. That’s why it’s always recommended to calculate your home loan EMI in advance. To calculate your home loan of ₹3 crore, you can use a ₹3 crore home loan EMI calculator.

Let’s find out what your ₹3 crore home loan EMI would be for different tenures.

## ₹3 Crore Home Loan EMI Details

When you avail of a home loan, you have to repay it within a pre-specified tenure via EMIs orEquated Monthly Instalments. Your home loan EMI depends on three factors – the loan amount, interest rate and tenure.

Let us use an example to understand the EMI for a home loan of ₹3 crore. We have considered the interest rate to be 8.45% p.a. We have considered 10, 15, 20, 25 and 30 years as different repayment tenures. The below table represents ₹3 crore home loan EMI based on different tenures.

 Loan Amount (₹) Interest Rate (p.a.) Tenure EMI ₹ 3,00,00,000 8.45% 10 Years ₹ 3,71,155 ₹ 3,00,00,000 8.45% 15 Years ₹ 2,94,543 ₹ 3,00,00,000 8.45% 20 Years ₹ 2,59,398 ₹ 3,00,00,000 8.45% 25 Years ₹ 2,40,558 ₹ 3,00,00,000 8.45% 30 Years ₹ 2,29,612
Note: that this table is for illustrative purposes only

## ₹3 Crore Home Loan EMI Calculator

The EMI for ₹3 crore home loan depends on the loan amount, interest rate and tenure. While you can always calculate your home loan EMI manually, the procedure is extremely lengthy and prone to mistakes. Instead, use the Navi Home Loan EMI Calculator to get quick and accurate results.

It is an easy-to-use online financial tool with a simple interface. All you have to do is select the home loan amount, interest rate and tenure. Once done, you will be able to check your EMI in a few seconds.

Loan Amount

Rate of Interest (P.a)

%

Loan Tenure (Years)

Years

Monthly EMI

0

Total Interest

Total Amount

## ₹3 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 ₹3 Crore Home Loan?

Follow the steps given below to apply for a ₹3 crore home loan:
Enter personal and employment details
You’ll receive instant loan approval on your home loan along with a provisional sanction letter

## ₹3 Crore Home Loan EMI for 20 Years

Let’s assume that you have taken a ₹3 crore home loan for a tenure of 20 years. You can use a home loan EMI  calculator to find out your monthly repayment obligations, total interest amount and total repayment amount. But, you can calculate this manually as well. Here is the formula to do so:

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

Here,

P = Loan amount/principal

R = Interest rate per month. So, if the interest rate is 8.45% per annum, then the monthly interest rate would be 0.0070 (8.45 / 12 / 100).

N = Number of EMIs you will have to pay. If the loan tenure is 20 years, then N would be 240 (20 x 12).

If you calculate manually, here is what your ₹3 crore loan EMI will look like:

EMI = ₹{3,00,00,000 x 0.0070 x (1 + 0.0070)^240} / {(1 + 0.0070)^240-1} = ₹2,59,398

As you can see, manual calculations are complicated and time-consuming. It is better to use an online home loan EMI calculator.

 Loan Amount ₹ 3,00,00,000 Rate of Interest 8.45% p.a. EMI ₹ 2,59,398 Total Interest ₹ 3,22,55,611 Total Repayment ₹ 6,22,55,611

## ₹3 Crore Home Loan EMI for 25 Years

Now, let’s check how much would be the ₹3 crore home loan EMI for a tenure of 25 years. You can also calculate the same manually using the following formula:

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

Where,

P = Principal amount

R = Monthly rate of interest. If the annual interest rate is 8.45%, the monthly interest rate will be 0.0070 (8.45 / 12 / 100).

N = Number of EMIs you will have to pay. If the loan tenure is 25 years, then N would be 300 (25 x 12).

If we calculate it manually, the EMI would be as follows:

EMI = ₹{3,00,00,000 x 0.0070 x (1 + 0.0070)^300} / {(1 + 0.0070)^300-1} = ₹2,40,558

As manual calculations can be quite time-consuming and tedious, it is much better to use the Navi Home Loan EMI Calculator. This online financial tool displays accurate results instantly. Check the details below:

 Loan Amount ₹ 3,00,00,000 Rate of Interest 8.45% p.a. EMI ₹ 2,40,558 Total Interest ₹ 4,21,67,437 Total Repayment ₹ 7,21,67,437

## ₹3 Crore Home Loan EMI for 30 Years

Suppose, you wish to avail a ₹3 crore home loan for a tenure of 30 years. In this case, what would be the EMI? Let us, first calculate it manually, with the following formula,

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

Where,

P = Principal/loan amount

R = Rate of interest per month. If the interest rate is 8.45% per annum, then the monthly interest rate would be 0.0070 (8.45 / 12 / 100).

N = Number of EMIs you will have to pay. If the loan tenure is 30 years, then N would be 360 (30 x 12).

Upon calculation, we would get,

EMI = ₹{3,00,00,000 x 0.0070 x (1 + 0.0070)^360} / {(1 + 0.0070)^360-1} = ₹2,29,612

While you can always calculate home loan EMI manually, the process will take up valuable time. If you use Navi Home Loan EMI Calculator, the following results will be displayed instantly.

 Loan Amount ₹ 3,00,00,000 Rate of Interest 8.45% p.a. EMI ₹ 2,29,612 Total Interest ₹ 5,26,60,257 Total Repayment ₹ 8,26,60,257

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## Home Loan for Different Budgets

At Navi, you can apply for a home loan if you wish to buy a ready-to-move or an under-construction property from a builder/developer. You can avail a home loan for building a residential unit on a piece of land, or purchase a resale property.
When you transfer your outstanding loan amount from an existing lender to a new one, it is known as a home loan balance transfer. You can opt for a balance transfer to pay off your loan at a lower interest rate or under favourable terms and conditions..
Home loans are secured loans offered against collateral. This collateral is the house you have bought. If you default on repaying your home loan, the lender has the right to seize your property to recover the loan amount.
Usually, lenders prefer applicants with high credit scores as it indicates higher creditworthiness and lower risks. If you have a low credit score, try to improve it by paying your bills on time and clearing any outstanding debt. You can also consider applying for a loan with a co-applicant who has a higher credit score.
Any home loan that is availed by more than one individual is a joint home loan. You can apply for a joint home loan with your spouse, parent, son, daughter or other relatives. People avail these loans to share the loan repayment burden and increase the chances of loan approval. Moreover, both applicants can avail tax benefits.

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