₹45 Lakh Home Loan EMI & Interest Rate
Enjoy attractive interest rates starting at 8.45% p.a. with flexible EMI options
₹45 Lakh Home Loan EMI
Planning to purchase a spacious property in a semi-urban area of a metropolitan city but don’t have sufficient funds? Take a home loan if you think you have the repayment capacity to pay off the loan within the specified tenure. To better understand your financial standing, calculate your home loan EMI first. For example, if you are taking a ₹45 lakh home loan for 30 years, your ₹45 lakh home loan would be ₹31,126.
You can derive this value with the help of our ₹45 lakh home loan EMI calculator. More details below about EMI on ₹45 lakh home loan.
₹45 Lakh Home Loan EMI Details
Your EMI depends on three factors – loan amount, loan tenure and interest rate and consists of two parts – the principal component and the interest component. So, when you’re paying your EMIs, a portion of the amount goes towards the interest and the other portion towards the principal.
Let’s understand the EMI on your ₹45 lakh home loan with an example. Suppose the interest rate is 8.45% p.a., and tenures are 5, 10, 15, 20 and 30 years. The following table shows you the EMIs derived by using a ₹45 lakh home loan EMI calculator:
| Loan Amount (₹) | Interest Rate (p.a.) | Tenure | EMI |
| ₹ 45,00,000 | 8.45% | 5 Years | ₹ 92,216 |
| ₹ 45,00,000 | 8.45% | 10 Years | ₹ 55,673 |
| ₹ 45,00,000 | 8.45% | 15 Years | ₹ 44,181 |
| ₹ 45,00,000 | 8.45% | 20 Years | ₹ 38,910 |
| ₹ 45,00,000 | 8.45% | 30 Years | ₹ 34,442 |
₹45 Lakh Home Loan EMI Calculator
You can calculate your ₹45 lakh house loan EMI either manually or with the help of an EMI calculator. Manual calculations can be extremely time consuming, so a better alternative can be using the Navi Home Loan EMI Calculator online.
This easy-to-use online tool is designed to give you accurate and quick results.
All you need to do is enter your loan details like the loan amount, tenure and interest rate, and you will be able to check your EMI in no time.
Loan Amount
Rate of Interest (P.a)
%
Loan Tenure (Years)
Years
Monthly EMI
0
Total Interest
Total Amount
45 lakh Homeloan Interest and Other Charges
₹45 Lakh Home Loan Interest Rate & Other Charges
With Navi, you can get home loan up to ₹5 crore at competitive interest rates, starting from 8.45% p.a. with a repayment tenure of up to 30 years. The details of our home loans have been discussed below:
Competitive interest rates starting at 8.45% p.a.
How to Apply for ₹45 Lakh Home Loan
How to Apply For 45 lakh Homeloan?
₹45 Lakh Home Loan Eligibility & Documents Required
₹45 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
₹45 Lakh Home Loan EMI for 10 Years
Taking a ₹45 lakh home loan for 10 years will increase your monthly repayment obligations but can help you pay off your loan faster. You can calculate your ₹45 lakh home loan EMI for 10 years with our home loan EMI calculator, but you must know how to do the manual calculation as well.
The formula for calculating EMI is:
EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}
Here, P denotes the principal amount, R is the monthly interest rate (annual interest rate divided by 12), and N is the number of EMI payments.
Let’s see how much will be your ₹45 lakh home loan EMI for 10 years:
EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1} = {45,00,000 x 0.00615 x (1+0.00615)^120} / {(1 + 0.00615)^120 – 1} = ₹53,158
EMI= ₹53,157.
Instead of doing this complex calculation, you can simply use an online home loan EMI calculator.
The details are given below:
| Loan Amount | ₹ 45,00,000 |
| Rate of Interest | 8.45% p.a. |
| EMI | ₹ 55,673 |
| Total Interest | ₹ 21,80,795 |
| Total Repayment | ₹ 66,80,795 |
₹45 Lakh Home Loan EMI for 20 Years
You can also decide to increase your repayment tenure from 10 years to 20 years if you wish to decrease the EMI amount. Let’s see how it will affect your EMI payments.
As discussed above, the formula for manual calculation is:
EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}
Here, P is the principal amount, R is the monthly interest rate divided by 100, and N denotes the number of EMIs that you have to pay throughout the repayment tenure.
Therefore, the ₹45 lakh home loan EMI for 20 years will be:
EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1} = {45,00,000 x 0.00615 x (1+0.00615)^240} / {(1 + 0.00615)^240 – 1}
EMI= ₹35,950
If you want to obtain your EMI estimation in an easier and hassle-free way, you use the Navi online EMI calculator.
Here are the particulars:
| Loan Amount | ₹ 45,00,000 |
| Rate of Interest | 8.45% p.a. |
| EMI | ₹ 38,910 |
| Total Interest | ₹ 48,38,342 |
| Total Repayment | ₹ 93,38,342 |
₹45 Lakh Home Loan EMI for 30 Years
Finally, let’s see how much the EMI will be for a ₹45 lakh home loan for 30 years. As we discussed before, the mathematical formula is:
EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}= {45,00,000x 0.00615 x (1+0.00615)^360} / {(1 + 0.00615)^360 – 1}
EMI= ₹31,126
An alternative to such troublesome and time-consuming calculations is using our online home loan EMI calculator.
Get the particulars in the table below:
| Loan Amount | ₹ 45,00,000 |
| Rate of Interest | 8.45% p.a. |
| EMI | ₹ 34,442 |
| Total Interest | ₹ 78,99,039 |
| Total Repayment | ₹ 1,23,99,039 |
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Frequently Asked Questions
Here are some aspects that you should consider fulfilling to avail home loans with low interest rates:
- Credit score above 750
- Stable monthly income
- Proper repayment capacity
However, these factors may or may not be considered by a lender. The final interest rate will be decided after proper evaluation.
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