₹3 Crore Home Loan EMI & Interest Rate
₹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 |
₹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
20 lakh Homeloan Interest and Other Charges
₹3 Crore Home Loan Interest Rate & Other Charges
How to Apply for ₹3 Crore Home Loan?
How to Apply For 20 lakh Homeloan?
₹20 Lakh Home Loan Eligibility & Documents Required
₹3 Crore Home Loan Eligibility & Documents Required
- Age: 25 years to 62 years
- Nationality: Indian Resident
- Employment Type: Salaried/Self-Employed
- Aadhaar card
- PAN card
- GST returns or bank statements
₹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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