₹85 Lakh Home Loan EMI & Interest Rate
Enjoy attractive interest rates starting at 8.45% p.a. with flexible EMI options
₹85 Lakh Home Loan EMI
It is important to have a detailed repayment plan chalked out before taking a home loan of, let’s say ₹85 lakh. And the first step to better plan your loan repayment should be calculating your ₹85 lakh home loan EMI in advance. This would give you a rough estimate of how much money you have to keep aside every month for repaying your loan.
You can calculate your EMI on ₹85 lakh home loan calculator either manually or with our ₹85 lakh home loan EMI calculator – the latter being a far more effective and time-saving tool.
₹85 Lakh Home Loan EMI Details
When you get a home loan, you need to repay it within a specified tenure via EMIs. For a ₹85 lakh home loan, the EMI is dependent on three factors – the interest rate, loan amount and tenure.
Let’s check how much impact the loan tenure has on your EMIs. For this example, we have considered the interest rate as 8.45% p.a. and tenures of 10, 15, 20, 25 and 30 years. Here’s how your ₹85 lakh home loan EMI would look like:
| Loan Amount (₹) | Interest Rate (p.a.) | Tenure | EMI |
| ₹85,00,000 | 8.45% | 5 Years | ₹1,74,186 |
| ₹85,00,000 | 8.45% | 10 Years | ₹1,05,161 |
| ₹85,00,000 | 8.45% | 15 Years | ₹83,454 |
| ₹85,00,000 | 8.45% | 20 Years | ₹73,496 |
| ₹85,00,000 | 8.45% | 30 Years | ₹65,057 |
₹85 Lakh Home Loan EMI Calculator
Your home loan EMI consists of two components – the interest and principal. You can calculate the EMI on ₹85 lakh home loan both manually and with the help of a home loan EMI calculator. However, manual calculations can be exhausting and are prone to errors. To mitigate any chance of miscalculations and save time, use Navi Home Loan EMI Calculator.
This easy-to-use online tool is extremely easy-to-use and offers quick and accurate calculations. All you need to do is enter the loan amount, tenure and interest rate.
Loan Amount
Rate of Interest (P.a)
%
Loan Tenure (Years)
Years
Monthly EMI
0
Total Interest
Total Amount
85 lakh Homeloan Interest and Other Charges
₹85 Lakh Home Loan Interest Rate and 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 ₹85 Lakh Home Loan
How to Apply For 85 lakh Homeloan?
₹85 Lakh Home Loan Eligibility and Documents Required
₹85 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
₹85 Lakh Home Loan EMI for 10 Years
Let’s find out your home loan EMI for different tenures. For your understanding, we have included manual calculations too. Here’s how your ₹85 lakh home loan EMI would look like:
EMI = {P x R x (1+R) ^ N} / {(1 + R) ^ N – 1}
Here, P stands for 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 a loan’s tenure is 10 years, then N will be 120.
If you calculate manually, the EMI for a ₹85 Lakh home loan for 10 years would be as follows:
EMI = ₹{85,00,000 x 0.00615 x (1 + 0.00615)^120} / {(1 + 0.00615)^120-1} = ₹1,00,409
Use the Navi Home Loan EMI Calculator to check your EMI in a few seconds. It will save you considerable time and effort.
| Loan Amount | ₹85,00,000 |
| Rate of Interest | 8.45% p.a. |
| EMI | ₹1,05,161 |
| Total Interest | ₹41,19,280 |
| Total Repayment | ₹1,26,19,280 |
₹85 Lakh Home Loan EMI for 20 Years
Now let’s calculate ₹85 lakh home loan EMI for 20 years. The formula is:
EMI = {P x R x (1+R) ^ N} / {(1 + R) ^ N – 1}
Here, P is the principal loan amount. R is the monthly interest rate divided by 100. N stands for the number of EMIs you need to pay. For example, if your loan’s tenure is 20 years, then N will be 240.
If you calculate manually, the EMI would be as follows:
EMI = ₹{85,00,000 x 0.00615 x (1 + 0.00615)^240} / {(1 + 0.00615)^240-1} = ₹67,905
The break-up of the calculation is detailed below:
| Loan Amount | ₹85,00,000 |
| Rate of Interest | 8.45% p.a. |
| EMI | ₹73,496 |
| Total Interest | ₹91,39,090 |
| Total Repayment | ₹1,76,39,090 |
₹85 Lakh Home Loan EMI for 30 Years
Now, let us proceed to calculate a ₹85 lakh home loan EMI for a tenure of 30 years.
Use the following formula:
EMI = {P x R x (1+R) ^ N} / {(1 + R) ^ N – 1}
Here, P is equal to the principal loan amount. R stands for rate of interest per month divided by 100. N stands for the number of EMIs to pay over the loan’s tenure.
For example, if the loan tenure is 30 years, then N will be 360.
Upon manual calculation, EMI will be as follows:
EMI = ₹{85,00,000 x 0.00615 x (1 + 0.00615)^360} / {(1 + 0.00615)^360-1} = ₹58,794
EMI calculation is detailed below:
| Loan Amount | ₹85,00,000 |
| Rate of Interest | 8.45% p.a. |
| EMI | ₹65,057 |
| Total Interest | ₹1,49,20,406 |
| Total Repayment | ₹2,34,20,406 |
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