# 50 Lakh Home Loan EMI & Interest Rate

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

## ₹50 Lakh Home Loan EMI

Let’s face it. Purchasing a new house is a costly affair. You would need at least ₹50 lakh to 80 ₹80 lakh to buy a new house in a metro. Arranging such a substantial amount of money could be difficult for many. In such a situation, getting a home loan to finance your house could be a good option. However, before taking a housing loan, it’s important that you calculate your home loan EMI in advance. It would help you plan and manage your finances in a better way. Let’s say you have taken a home loan of ₹50 lakh. So, what would be your ₹50 lakh home loan EMI?

Use a ₹50 lakh home loan EMI to calculate your home loan EMI. The EMI calculation on your home loan is detailed below.

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## ₹50 Lakh Home Loan EMI Details

When you take a home loan, you have to repay the same within a specified tenure in EMIs. For instance, your ₹50 lakh home loan EMI is based on three factors – the loan amount, the interest rate and the tenure. The EMI comprises the principal and interest components which are structured in a way that in the initial years of your loan, the interest component is much larger than the principal component, while towards the latter half of the loan, the principal component is much larger.

Let’s understand your ₹50 lakh home loan EMI with an example. We have considered the interest rate as 8.45% p.a. and tenures of 10, 15, 20, 25 and 30 years. Upon using a home loan EMI calculator, we derived that your EMI on ₹50 lakh home loan would be:

 Loan Amount (₹) Interest Rate (p.a.) Tenure EMI ₹ 50,00,000 8.45% 5 Years ₹ 1,02,462 ₹ 50,00,000 8.45% 10 Years ₹ 61,859 ₹ 50,00,000 8.45% 15 Years ₹ 49,091 ₹ 50,00,000 8.45% 20 Years ₹ 43,233 ₹ 50,00,000 8.45% 30 Years ₹ 38,269

Note: that this table is for illustrative purposes only

## ₹50 Lakh Home Loan EMI Calculator

Your home loan EMI depends on the loan amount, tenure and interest rate. Though you can calculate your EMI for housing loan of ₹50 lakh manually, it could be extremely time consuming and might not give you accurate results. A better alternative could be Navi Home Loan EMI Calculator.

This easy to use online EMI calculator lets you calculate your housing loan EMI in a quick and hassle-free way. All you need to do is enter the loan amount, tenure and interest rate to quickly check your monthly repayment obligations.

Loan Amount

Rate of Interest (P.a)

%

Loan Tenure (Years)

Years

Monthly EMI

0

Total Interest

Total Amount

## ₹50 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.

Zero processing fee charged
Get loans up to ₹5 crore to finance your dream house
Enjoy flexible repayment tenures of up to 30 years
Pre-close your home loan at your convenience with no additional cost

## How to Apply for ₹50 Lakh Home Loan

Follow the steps below to apply for a ₹50 lakh home loan:
Download the Navi app from Play Store or App Store
Enter personal and employment details
Do your KYC with PAN, Aadhaar and bank statement
Get instant loan approval and provisional sanction letter

## ₹50 Lakh Home Loan EMI for 10 Years

Wondering what would be EMI on home loan of ₹50 lakh for a 10-year tenure? You can use the Navi Home Loan EMI Calculator to check your EMI. However, it’s also important to know how home loan EMIs are calculated manually.

EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}
Here P stands for loan principal and R denotes the interest rate divided by 100. N is the number of EMIs you will have to pay. For instance, if your loan tenure is 10 years, then N would be 120.

Here’s what your EMI for ₹50 lakh home loan for 10 years would look like if calculated manually:

EMI = ₹{5000000 x 0.789 x (1 + 0.789)^120} / {(1 + 0.789)^120-1} = ₹60,374.
As you could see, the calculations are quite complex and time-consuming. Instead, you could use our home loan EMI calculator. Here are the details below:

 Loan Amount ₹ 50,00,000 Rate of Interest 8.45% p.a. EMI ₹ 61,859 Total Interest ₹ 24,23,106 Total Repayment ₹ 74,23,106

## ₹50 Lakh Home Loan EMI for 20 Years

Just for curiosity, let’s calculate ₹50 lakh house loan EMI on 20 years tenure? As mentioned earlier, the formula for home loan EMI is:
EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}

Here P stands for loan principal and R denotes the interest rate divided by 100. N is the number of EMIs you will have to pay. For instance, if your loan tenure is 10 years, then N would be 120.

Here’s what your EMI for ₹50 lakh home loan for 20 years would look like if calculated manually:

EMI = ₹{5000000 x 0.789 x (1 + 0.789)^240} / {(1 + 0.789)^240-1} = ₹41,480

As you could see, the calculations are quite complex and time-consuming. Instead, you could use our home loan EMI calculator. Here are the details below:

 Loan Amount ₹ 50,00,000 Rate of Interest 8.45% p.a. EMI ₹ 43,233 Total Interest ₹ 53,75,935 Total Repayment ₹ 1,03,75,935

## ₹50 Lakh Home Loan EMI for 30 Years

Now let’s see what would be the home loan EMI for a ₹50 lakh loan with 30 years tenure. As mentioned earlier, the formula for home loan EMI is:
EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}

Here P stands for loan principal and R denotes the interest rate divided by 100. N is the number of EMIs you will have to pay. For instance, if your loan tenure is 30 years, then N would be 360.

Here’s what your EMI would look like if calculated manually:

EMI = ₹{5000000 x 0.789 x (1 + 0.789)^360} / {(1 + 0.789)^360-1} = ₹36,306

As you could see, the calculations are quite complex and time-consuming. Instead, you could use our home loan EMI calculator. Here are the details below:

 Loan Amount ₹ 50,00,000 Rate of Interest 8.45% p.a. EMI ₹ 38,269 Total Interest ₹ 87,76,710 Total Repayment ₹ 1,37,76,710

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## Frequently Asked Questions

When you take a home loan, you are supposed to repay the loan in EMIs or Equated Monthly Instalments. There are two ways of calculating EMI on home loan – manually or via a home loan EMI calculator. The formula is {P x R x (1+R)^N} / {(1 + R)^N – 1}. Here P stands for loan principal and R denotes the interest rate divided by 100. N is the number of EMIs you will have to pay (in months).
Your home loan EMI is based on three factors – the loan amount, interest rate and tenure. If the tenure is more, your EMIs would be less, however you would end up paying more as interest. This increases the overall cost of your loan. Similarly, for a shorter tenure, your EMIs would be on the higher side, however, you would end up paying less interest.
Yes, you can take a joint home loan with your spouse or relative. The benefit of a joint home loan is that if either of you has a good credit score, you can get preferential interest rates on your loan. Secondly, since a joint home loan involves more than one person, it automatically brings down the risk-factor. This automatically increases the chance of getting your loan approved.
Defaulting Home loans are secured loans where you have to pledge collateral. In this case, the collateral would be the home you have taken the loan for. In case you default on your loan, the lender has every right to seize your house to recover the amount. Also, missed EMIs could call for heavy penalty charges. Your credit score and creditworthiness would take a hit as well.
First, you need to plan things better. If your credit score is too low, apply for a loan once the numbers show some improvement. To do that, pay your other EMIs or bills on time. Following the best financial practices could help improve your credit score slowly and steadily. Another option would be jointly applying for a loan with someone having an above average score.

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