Enjoy attractive interest rates starting at 8.74% p.a. with flexible EMI options

Planning to get a home loan of ₹35 lakh but unable to figure out what would be your monthly EMI? No need to break a sweat. Check your ₹35 lakh home loan EMI in a few seconds with Navi Home Loan EMI Calculator.

Use the ₹35 lakh home loan EMI calculator to check your housing loan EMI. Calculating the EMI on ₹35 lakh home loan could help you better manage your finances.

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When you take a home loan, you need to repay it within a specified tenure in EMIs. Your ₹35 lakh home loan EMI will primarily depend on three factors: principal or loan amount, interest rate and tenure. Additionally, your monthly EMI consists of two components – principal and interest.

Let us now understand your ₹35 lakh home loan EMI with the help of an example. Let’s consider the interest rate as 8.74% and the tenures at 5, 10, 15, 20, and 30 years, respectively. If we use a home loan EMI calculator, the EMI for your ₹35 lakh home loan will be:

Loan Amount (₹) | Interest Rate (p.a.) | Tenure | EMI |

35,00,000 | 8.39% | 5 Years | 70,783 |

35,00,000 | 8.39% | 10 Years | 42,261 |

35,00,000 | 8.39% | 15 Years | 33,226 |

35,00,000 | 8.39% | 20 Years | 29,036 |

30,00,000 | 8.39% | 35 years | 25,414 |

Note: that this table is for illustrative purposes only

Your home loan EMI is based on three factors – principal or loan amount, interest rate and tenure. Although manually calculating the EMI for a ₹35 lakh home loan is possible, it is a tricky and time-consuming process. One of the best alternatives you can use instead of calculating manually is using the Navi Home Loan EMI calculator.

This online EMI calculator will help you calculate your home loan EMI in less than a minute. To calculate, you must enter the principal, rate of interest and tenure, and the EMI will be visible on screen.

Loan Amount

Rate of Interest (P.a)

%

Loan Tenure (Years)

Years

Monthly EMI

0

Total Interest

Total Amount

Navi offers home loans up to ₹5 crore at competitive interest rates starting from 7.39% p.a. with flexible repayment tenures of up to 30 years. Here are the details below:

Attractive interest rates

Competitive interest rates starting at 7.39% p.a.

No processing fee

Zero processing fee charged

Loan amount of your choice

Get loans up to ₹5 crore to finance your dream house

Flexible EMI options

Enjoy flexible repayment tenures of up to 30 years

Pre-close your loan at your convenience

Pre-close your home loan at your convenience with no additional cost

Follow the steps below to apply for a ₹35 lakh home loan with Navi:

Get the Navi app

Download the Navi app from Play Store or App Store

Fill in details

Enter personal and employment details

Complete your KYC

Do your KYC with PAN, Aadhaar and bank statement

Get your home loan approved

Get instant loan approval and provisional sanction letter

- Nationality: Indian resident
- Age: 25 to 62 years
- Type of employment: Salaried or Self-employed
- PAN and Aadhaar card
- Bank statement or GST returns

Curious about what the EMI on ₹35 lakh home loan for 10 years would be? One of the ways to find it out is by using the Navi Home Loan EMI Calculator. You should also know how to manually calculate ₹35 lakh home loan EMI. The formula for calculating it manually is:

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

In the formula mentioned above, P represents the principal or loan amount, and R indicates the monthly interest rate divided by 100. On the other hand, N denotes the monthly EMIs you will need to pay.

Here is how your ₹35 lakh home loan EMI for 10 years will be calculated manually:

EMI = ₹ {3500000 x 0.00615 x (1 + 0.00615)^120} / {(1 + 0.00615)^120-1} = ₹41,345.

It is evident that the manual calculation is complicated and time-taking. Therefore, it is better if you use our home loan EMI calculator.

The details of the calculation have been discussed below:

Loan Amount | ₹35,00,000 |

Rate of Interest | 8.39% p.a. or 0.615% per month |

EMI | ₹42,261 |

Total Interest | ₹15,71,380 |

Total Repayment | ₹50,71,380 |

Now that we have calculated the EMI for a ₹35 lakh home loan for 10 years, let’s try to calculate it for the same amount but for 20 years. The formula for calculating EMI manually is mentioned below:

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

As discussed before, P indicates principal or loan amount, R stands for monthly interest rate divided by 100 and N represents the number of monthly EMIs you will have to pay.

If we are to calculate ₹35 lakh home loan EMI for 20 years manually, it will look something like this:

EMI = ₹ {3500000 x 0.00615 x (1 + 0.00615)^240} / {(1 + 0.00615)^240-1} = ₹27,961

You can see clearly that the calculations above are extremely complicated and error-prone. Therefore using the Navi home loan EMI calculator might be a great choice.

The details are mentioned below:

Loan Amount | ₹35,00,000 |

Rate of Interest | 8.39% p.a. or 0.615% per month |

EMI | 29,036 |

Total Interest | ₹34,68,700 |

Total Repayment | ₹69,68,700 |

Finally, let’s take a look at what would be the EMI on ₹35 lakh home loan for 30 years. As discussed before, the formula for manually calculating the home loan EMI is:

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

Here, P stands for principal or loan amount, and R denotes the monthly interest rate divided by 100. N represents the repayment tenure in months. If repayment tenure is 30 years, then N would be 360.

If we try calculating ₹35 lakh home loan EMI for 30 years manually, it will look like this:

EMI = ₹{3500000 x 0.00615 x (1 + 0.00615)^360} / {(1 + 0.00615)^360-1} = ₹24,209

The calculations done above prove that doing them might be extremely tedious and complicated. So, the best option is to calculate the EMI using our home loan EMI calculator.

The particulars are mentioned below:

Loan Amount | ₹35,00,000 |

Rate of Interest | 8.39% p.a. or 0.615% per month |

EMI | 25,414 |

Total Interest | ₹56,48,996 |

Total Repayment | ₹91,48,996 |

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How much home loan can I apply for to renovate or reconstruct my house?

It is advisable for borrowers to check how much loan they are eligible for before applying for a loan. This will help them plan their renovation finances accordingly. You can check how much of the loan amount you are eligible for by providing your PAN card details and bank statements.

How does the repo rate affect home loan interest rates?

The Repo rate is the interest rate on which the Reserve Bank of India provides loans to banks. The funds supplied by the RBI supplies are lent by the banks. Therefore, the interest rates we pay to the banks are closely related to what the banks have to pay RBI. Hence, an increase or decrease in the repo rate affects the home loan interest rates.

Will my credit score affect my home loan interest rate?

Yes, a borrower’s credit score can impact the interest rate of a home loan availed by him/her. Even though a home loan is a secured loan, lenders consider the credit score before approving a loan. The credit score denotes the creditworthiness of the borrower; hence, if a borrower has a high credit score, he/she may get loans with low interest rates.

How do I reduce the interest rate on home loans?

If you can maintain the following parameters, the possibility of getting loans with low interest rates could be more:

- Stable monthly income
- Credit score above 750
- Good repayment capacity

However, there is no guarantee that maintaining these factors will reduce interest rates. The lender has the final say about the interest rate after evaluating the details of the borrower.

What happens if I default on my EMI payments?

Defaulting on your EMI payments will adversely affect your credit score and creditworthiness. Missing out on EMI payments can lead to heavy penalty charges. Additionally, not repaying back the loan gives the lender the right to seize your property to recover the amount.

I had experience with two home loans in the past and I have wasted a lot of time into providing unnecessary documents. With Navi, I was surprised how convenient it was. I would highly recommend Navi to anyone looking for a home loan.

Navi made the process of securing a home loan very easy. everything was available at fingertips. Legal verification and valuation of the property went smoothly. Digital process really made the mortgage process simple.

Highly recommend this for home loan. Good interest rates, transparent process and fees. Whole process is streamlined and most of it is done online. Had a great experience!

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