₹65 Lakh Home Loan EMI & Interest Rate
Enjoy attractive interest rates starting at 8.45% p.a. with flexible EMI options
₹65 Lakh Home Loan EMI
Everyone dreams of living in their dream home. However, buying a new house is expensive. The cost can range from ₹50 lakh to ₹80 lakh, depending on the city you are living in. Taking a home loan could be a viable option to finance the property you are planning to buy. But consider the EMI obligations first before applying for a home loan. For instance, a ₹65 lakh home loan EMI for 10 years would be far higher than ₹65 lakh home loan EMI for 20 years.
Now that we have considered ₹65 lakh as the home loan amount, let’s calculate what would be your ₹65 lakh home loan EMI for different tenures. While you could calculate the EMI manually, using a ₹65 lakh home loan EMI calculator would give you quick and accurate results. Let’s dive in!
₹65 Lakh Home Loan EMI Details
If you take a home loan, you must repay the loan within a specified tenure via EMIs. Your ₹65 lakh home loan EMI is based on three factors—loan amount, rate of interest, and tenure.
Let us understand ₹65 lakh home loan EMI with an example. Suppose the interest rate is 8.45% p.a. and the loan tenures are 10, 15, 20, 25, and 30 years. Using the Navi Home Loan EMI Calculator, your EMI would be:
| Loan Amount (₹) | Interest Rate (p.a.) | Tenure | EMI |
| ₹ 65,00,000 | 8.45% | 5 Years | ₹ 1,33,201 |
| ₹ 65,00,000 | 8.45% | 10 Years | ₹ 80,417 |
| ₹ 65,00,000 | 8.45% | 15 Years | ₹ 63,818 |
| ₹ 65,00,000 | 8.45% | 20 Years | ₹ 56,203 |
| ₹ 65,00,000 | 8.45% | 30 Years | ₹ 49,749 |
₹65 Lakh Home Loan EMI Calculator
Home loan EMIs depend on the loan amount, tenure, and interest rate. You can calculate the EMI manually. But pen and paper calculations are always extremely time-consuming and could leave room for errors. Instead, you can use Navi Home Loan EMI Calculator to get quick and accurate results.
This simple and easy-to-use online EMI calculator helps you calculate your housing loan EMI in a few seconds. All you need to do is select the loan amount, tenure and interest rest to check your home loan EMI.
Loan Amount
Rate of Interest (P.a)
%
Loan Tenure (Years)
Years
Monthly EMI
0
Total Interest
Total Amount
65 lakh Homeloan Interest and Other Charges
₹65 Lakh Home Loan Interest Rate and Other Charges
With Navi, you can apply for home loan of up to ₹5 crore at attractive interest rates starting from 8.45% p.a. with flexible repayment tenures of up to 30 years. Details are as follows:
Competitive interest rates starting at 8.45% p.a.
How to Apply for a ₹65 Lakh Home Loan
How to Apply For 65 lakh Homeloan?
₹65 Lakh Home Loan Eligibility and Documents Required
₹65 Lakh Home Loan Eligibility and 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
₹65 Lakh Home Loan EMI for 10 Years
To better understand what would be your EMI on a ₹65 lakh home loan, let’s consider various tenures. You will be able to check how your EMI changes drastically with the change in loan tenure. Let’s first calculate ₹65 lakh home loan EMI for 10 years. Since it is also important for you to know the manual calculation, we have used the home loan EMI calculation formula to show you the manual calculation process. The formula for calculating home loan EMIs is:
EMI = {P x R x (1+R) ^ N} / {(1 + R) ^ N – 1}
Here, P is the principal loan amount. R is the monthly rate of interest divided by 100. N stands for the number of EMIs you need to pay. For example, if the loan tenure is 10 years, then N will be 120.
If calculated manually, the EMI for a ₹65 lakh home loan for 10 years would be as follows:
EMI = ₹{6500000 x 0.00615 x (1 + 0.00615)^120} / {(1 + 0.00615)^120-1} = ₹76,783
As illustrated above, the calculations are quite time-consuming and complicated.
Using the Navi Home Loan EMI calculator is easy and saves valuable time.
Given below are your EMI details as calculated via our loan EMI calculator:
| Loan Amount | ₹ 65,00,000 |
| Rate of Interest | 8.45% p.a. |
| EMI | ₹ 80,417 |
| Total Interest | ₹ 31,50,038 |
| Total Repayment | ₹ 96,50,038 |
₹65 Lakh Home Loan EMI for 20 Years
Now, let us check the EMI and total repayment amount of a home loan of ₹65 lakh taken for 20 years. The same formula will be applicable:
EMI = {P x R x (1+R) ^ N} / {(1 + R) ^ N – 1}
Here, P is the principal loan amount. R is the rate of monthly interest divided by 100. N stands for the number of EMIs you need to pay. For example, if this loan’s tenure is 20 years, then N will be 240.
If calculated manually, the EMI for a ₹65 lakh home loan for 20 years would be as follows:
EMI = ₹{6500000 x 0.00615 x (1 + 0.00615)^240} / {(1 + 0.00615)^240-1} = ₹51,927
The following table further illustrates this calculation:
| Loan Amount | ₹ 65,00,000 |
| Rate of Interest | 8.45% p.a. |
| EMI | ₹ 56,203 |
| Total Interest | ₹ 69,88,716 |
| Total Repayment | ₹ 1,34,88,716 |
₹65 Lakh Home Loan EMI for 30 Years
What could be the EMI if you get ₹65 lakh home loan for a 30-year tenure. Let’s apply the formula and find out:
EMI = {P x R x (1+R) ^ N} / {(1 + R) ^ N – 1}
Here, P is the principal loan amount. R is the rate of interest divided by 100. N stands for the number of EMIs you need to pay. For example, if the loan tenure is 30 years, then N will be 360.
If calculated manually, the EMI for a ₹65 lakh home loan for 30 years would be as follows:
EMI = ₹{6500000 x 0.00615 x (1 + 0.00615)^360} / {(1 + 0.00615)^360-1} = ₹44,960
The following table further illustrates this calculation:
| Loan Amount | ₹ 65,00,000 |
| Rate of Interest | 8.45% p.a. |
| EMI | ₹ 49,749 |
| Total Interest | ₹ 1,14,09,722 |
| Total Repayment | ₹ 1,79,09,722 |
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Frequently Asked Questions
An amortisation schedule is a detailed chart giving a breakdown of the interest and principal component of loan EMIs. It contains the following information:
- Amount of payable EMI
- Contribution towards repayment of the principal amount
- Contribution towards repayment of interest amount
- Outstanding balance before EMI payment
- Outstanding loan balance after payment of EMI
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