Enjoy attractive interest rates starting at 8.45% p.a. with flexible EMI options
Get the app
₹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.
Read More
₹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 |
Note: that this table is for illustrative purposes only
₹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
Total Interest
Total Amount
Apply Now
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:
Attractive interest rates
Competitive interest rates starting at 8.45% p.a.
No processing fee
Zero processing fee charged
Loan amount of your choice
Get loans up to ₹5 crore to finance your dream house
Flexible EMI options
Enjoy flexible repayment tenures of up to 30 years
Pre-close your loan at your convenience
Pre-close your home loan at your convenience with no additional cost
How to Apply for ₹45 Lakh Home Loan
Follow the steps below to apply for a ₹45 lakh home loan:
Get the Navi app
Download the Navi app from Play Store or App Store
Fill in details
Enter personal and employment details
Complete your KYC
Do your KYC with PAN, Aadhaar and bank statement
Get your home loan approved
Get instant loan approval and provisional sanction letter
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 |
Apply Now
₹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 |
Apply Now
₹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 |
Apply Now
Trusted by Millions of Users
1 M+
App Downloads
1 L+
Loan Sanctioned
1 Cr+
Loan amount disbursed
1 L+
Active Loans
Home Loan In Different Cities
Bengaluru
Chennai
Delhi
Gurgaon
Hyderabad
Mumbai
Pune
Navi Approved Builders
Godrej Properties
Casagrand
Signature Global
VTP Realty
Brigade Group
Assetz Property
Shriram Properties
Sunteck Realty
Provident Housing Limited
Prestige Group
Puranik
DRA Home
View All
Home Loan for Different Budgets
- ₹10 Lakh
- ₹15 Lakh
- ₹20 Lakh
- ₹25 Lakh
- ₹30 Lakh
- ₹35 Lakh
- ₹40 Lakh
- ₹45 Lakh
- ₹50 Lakh
- ₹55 Lakh
- ₹60 Lakh
- ₹65 Lakh
- ₹70 Lakh
- ₹75 Lakh
- ₹80 Lakh
- ₹85 Lakh
- ₹90 Lakh
- ₹95 Lakh
- ₹1 Crore
- ₹2 Crore
- ₹3 Crore
- ₹4 Crore
- ₹5 Crore
Frequently Asked Questions
What are the tax benefits I can get on home loans?
The tax benefits on a home loan are available on the principal loan amount and the interest payable. Section 80C of the Income Tax Act allows a maximum deduction of ₹1.5 lakh on the principal amount paid. Additionally, Section 24(B) lets you claim a maximum deduction of ₹2 lakh on the interest payment. You can claim additional deduction of up to Rs.50,000 under section 80EE as well, subject to terms and conditions.
What is a top-up loan?
A top-up loan is an additional loan taken on an existing or ongoing housing loan. The amount is equal to the amount repaid. The interest rate is lower on the top-up loan than on a personal loan and requires minimal documentation. This loan amount can be used for various purposes.
Can I have a co-applicant for a home loan?
Yes, you can have a co-applicant for a home loan. You should try to have a co-applicant if possible, as it provides multiple benefits, such as increasing the chances of getting loan approval. Having a co-applicant is especially beneficial if one of the applicants has a low credit score.
Can I apply for a home loan with a low CIBIL score?
Yes, you can apply for a home loan with a low CIBIL or credit score. However, this increases your chances of loan rejection. Lenders also charge a higher interest rate in such cases. Consider applying for a home loan along with a co-applicant if you have a low credit score.
How to get home loans with low interest rates?
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.
What our customers say about us
I had experience with two home loans in the past and I have wasted a lot of time into providing unnecessary documents. With Navi, I was surprised how convenient it was. I would highly recommend Navi to anyone looking for a home loan.
Pawan Valecha
Navi made the process of securing a home loan very easy. everything was available at fingertips. Legal verification and valuation of the property went smoothly. Digital process really made the mortgage process simple.
Bhargava Pamidighantam
Highly recommend this for home loan. Good interest rates, transparent process and fees. Whole process is streamlined and most of it is done online. Had a great experience!
Rounak Kakkar
Blogs
Jun 21
9 Different Home Loan Types And Options Available In India: Eligibility And Interest Rates
Do you know about the different home loan types? Click here to learn about the different types of housing finance options, interest rates, eligibility & more!
May 31
Want to prepay home loan? Here's how to prepay your home loan, RBI rules & calculate prepayment loan EMI in simple steps.
Sep 02
Everything You Need to Know About Home Loan Interest Rates
Home loan interest rates, additional fees & charges vary across banks & NBFCs. Click here to get the list of home loan interest rates.
Know More
Explore our videos
4 Factors to Consider Before Taking a Home Loan
How to Save Tax on Home Loans: A Complete Guide
Everything You Need to Know About Home Loan Eligibility