₹35 Lakh Home Loan EMI & Interest Rate
Enjoy attractive interest rates starting at 8.45% p.a. with flexible EMI options
₹35 Lakh Home Loan EMI
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.
₹35 Lakh Home Loan EMI Details
When you take home loan online, 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 8.45% p.a. 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 | 8.45% | 5 Years | ₹71,724 |
| ₹35,00,000 | 8.45% | 10 Years | ₹43,301 |
| ₹35,00,000 | 8.45% | 15 Years | ₹34,363 |
| ₹35,00,000 | 8.45% | 20 Years | ₹30,263 |
| ₹35,00,000 | 8.45% | 30 Years | ₹26,788 |
₹35 Lakh Home Loan EMI Calculator
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
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Total Interest
Total Amount
35 lakh Homeloan Interest and Other Charges
₹35 Lakh Home Loan Interest Rate & Other Charges
Navi offers home loans up to ₹5 crore at competitive interest rates starting from 8.45% p.a. with flexible repayment tenures of up to 30 years. Here are the details below:
Competitive interest rates starting at 8.45% p.a.
How to Apply for ₹35 Lakh Home Loan
How to Apply For 35 lakh Homeloan?
₹35 Lakh Home Loan Eligibility & Documents Required
₹35 Lakh Home Loan Eligibility & Documents Required
- Nationality: Indian resident
- Age: 25 to 62 years
- Type of employment: Salaried or Self-employed
- PAN and Aadhaar card
- Bank statement or GST returns
₹35 Lakh Home Loan EMI for 10 Years
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 |
₹35 Lakh Home Loan EMI for 20 Years
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 |
₹35 Lakh Home Loan EMI for 30 Years
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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Frequently Asked Questions
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.
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