Rs. 45 Lakh Home Loan EMI
A home loan of Rs. 45 Lakhs can be helpful in many ways including the purchase or construction of a new house, home renovation, extension, etc. You can avail of a housing loan of Rs. 45 Lakhs for a longer tenure to pay a smaller Rs. 45 Lakh Home Loan EMI.
Rs. 45 Lakh Home Loan EMI Details
A Rs. 45 Lakh Home Loan is a long-term commitment. You must be prepared and plan your budget in advance before availing of a home loan. It is crucial to understand all the merits and demerits of applying for such a big-ticket loan. The EMI for Rs. 45 Lakhs home loan may vary from bank to bank depending on the interest rate charged by the bank and the repayment tenure chosen by the borrower.
Following are the details of Rs. 45 Lakh home loan EMI for 10 years, 20 years and 30 years tenure at a 7.85% p.a. interest rate:
| Loan Amount (in Rs) | Interest Rate (p.a.) | Tenure | EMI |
|---|---|---|---|
| Rs. 45,00,000.00 | 7.85% | 5 Years | Rs. 92,108 |
| Rs. 45,00,000.00 | 7.85% | 10 Years | Rs. 55,553 |
| Rs. 45,00,000.00 | 7.85% | 15 Years | Rs. 44,050 |
| Rs. 45,00,000.00 | 7.85% | 20 Years | Rs. 38,768 |
| Rs. 45,00,000.00 | 7.85% | 30 Years | Rs. 34,283 |
You can also Apply for Indiabulls Home Loan and check EMI, Interest rate and Eligibility Online to avail offer.
Top Banks Providing 45 Lakh Home Loan
Many banks, Non-Banking Financial Companies (NBFCs), Housing Finance Companies (HFCs) offer home loans of Rs. 45 Lakh in India at different interest rates on Home Loan.
The table for different Home Loan interest rates of the top 10 banks and NBFCs for a home loan of Rs. 45 Lakhs is given below:
| HDFC Bank | 8.50% - 9.55% | Rs. 35,402 |
| SBI | 8% - 8.95% | Rs. 34,601 |
| Kotak Mahindra Bank | 8.65% | Rs. 35,402 |
| Bajaj Finserv | 8.25% - 17.00% | Rs. 34,601 |
| ICICI Bank | 9% - 10.05% | Rs. 36,208 |
| PNB Housing | 8.50% | Rs. 34,601 |
| Tata Capital | 8.75% | Rs. 35,402 |
| Federal Bank | 9.65% | Rs. 35,562 |
45 lakh Home Loan EMI Calculator
Every Home Loan EMI is subject to the loan amount sanctioned, the applicable interest rate and the selected repayment tenure. Home Loan EMI for a Rs 45 lakh home loan can be easily calculated through the Home Loan EMI calculator within a minute. MyMoneyMantra Home Loan EMI calculator can provide you the exact Home Loan EMI for the selected Home Loan amount, tenure and rate of interest.
You’re just required to enter the desired home loan, the tenure in which you wish to repay the Home Loan and the interest rate quoted by the bank or housing financier. With MyMoneyMantra’s Home Loan EMI calculator, you can ascertain your monthly repayments before you take a Home Loan.
Rs. 45 Lakh Home Loan EMI for 10 Years
The Rs. 45 Lakh home loan EMI for 10 years tenure at a 7.85% p.a. interest rate would be Rs. 55,794. The EMI on an Rs. 45 Lakhs loan for a repayment tenure of 10 years differs from lender to lender based on the rate of the interest rate charged and the borrower’s Home Loan Eligibility.
Following is the table of different EMIs on Rs. 45 Lakhs loan for different interest rates for 10 years tenure:
| Rs. 45 Lakh Home Loan EMI for 10 Years | |
|---|---|
| Loan Amount | Rs. 45,00,000.00 |
| Rate of Interest | 7.85% p.a. |
| Loan Tenure | 10 years |
| Loan EMI | Rs. 55,794 |
| Total Interest | Rs. 21,95,227 |
| Total Repayment | Rs. 66,95,227 |
You can now check ICICI Bank Home Loan Status Online
EMI for Rs. 45 Lakhs Home Loan for 20 Years
The Rs. 45 Lakh home loan EMI for 20 years tenure at a 7.85% p.a. interest rate would be Rs. 39,052. The EMI on an Rs. 45 Lakhs loan for a repayment tenure of 20 years differs from lender to lender based on the rate of the interest rate charged and the borrower’s Home Loan Eligibility.
| Rs. 45 Lakh Home Loan EMI for 20 Years | |
|---|---|
| Loan Amount | Rs. 45,00,000.00 |
| Rate of Interest | 7.85% p.a. |
| Loan Tenure | 20 years |
| Loan EMI | Rs. 39,052 |
| Total Interest | Rs. 48,72,491 |
| Total Repayment | Rs. 93,72,491 |
You can also check SBI Home Loan Eligibility Online.
EMI for Rs. 45 Lakhs Home Loan for 30 Years
EMI for 45 Lakhs home loan for 30 years will be Rs. 34,283 at an interest rate of 7.85% p.a. The EMI may change depending on the lender’s policy, the applicable interest rate and the borrower’s eligibility. You can use the Home Loan EMI Calculator available on our website for calculating the EMI for Rs. 45 Lakhs home loan for various tenures and interest rates.
Below is the table of different EMIs on Rs. 45 Lakhs loan at the different interest rates for 30 years tenure:
| Rs. 45 Lakh Home Loan EMI for 30 Years | |
|---|---|
| Loan Amount | Rs. 45,00,000.00 |
| Rate of Interest | 7.85% p.a. |
| Loan Tenure | 30 years |
| Loan EMI | Rs. 34,601 |
| Total Interest | Rs. 79,56,398 |
| Total Repayment | Rs. 1,24,56,398 |
Eligibility for Rs. 45 Lakh Home Loan
Applicants must meet the eligibility criteria mentioned below to be eligible for a home loan of Rs. 45 Lakhs:
Eligibility Criteria for Salaried
- Should be resident Indians.
- Should be in the age group of 18 and 65 years.
- Should have a work experience of minimum 3 years.
- Should be earning a minimum monthly income of Rs. 25,000.
Eligibility Criteria for Self-employed
- Should be resident Indians.
- Should be in the age group of 21 and 70 years.
- Should have at least 3 years of business continuity.
- Should be earning at least Rs. 2,60,000 annually.
You can also check SBI Home Loan Eligibility Online.
Documents Required for Rs. 45 Lakh Home Loan
You need the following documents to apply for an Rs. 45 Lakhs home loan:
- Home loan application form - duly filled in & signed.
- Recent photographs in passport size.
- Identity proof: Aadhaar Card/ Driving License/ Passport/ Voter ID, etc.
- Address proof: Aadhaar Card/ Driving License/ Passport/ Voter ID, etc.
- Age proof: Birth Certificate/ Class 10th Certificate, etc.
- Bank statements of the last 6 months.
- Latest Form 16/ Income Tax Return.
- Balance Sheet and P&L Statement of the previous 3 years certified by a CA certified for self-employed applicants.
- Business profile of self-employed applicants.
- Processing fee cheque.
You can also Check Pan Number for All Banks
How to Apply Up to Rs. 45 Lakh Home Loan Loan
The step-by-step process to apply for a home loan of Rs. 45 Lakhs is given below:
- Visit our website and click on the ‘Home Loan’ that is mentioned under the ‘Loans’ section.
- Fill out the online application accurately by entering all the details as required.
- Enter the ‘OTP’ received on your registered mobile number.
- Then click on the ‘Submit’ button to view the best home loan offer quotes.
- Home loan offers from our partner lenders will be displayed on your screen according to the information entered by you.
- Choose the lender preferred by you and apply online.
- Our home loan experts will connect with you soon regarding the completion of your home loan process.
You can also check Home Loan Customer Care Number
45 Lakh Home Loan FAQs
The EMI for an Rs. 45 Lakhs home loan varies from lender to lender depending on the interest rate on the loan and tenure of repayment. You can use our home loan EMI calculator available online on our website to calculate Rs. 45 lakhs home loan EMI for different interest rates and tenures.
Salaried applicants must have a minimum monthly income of Rs. 70,000, and self-employed applicants must be earning at least Rs. 8,40,000 annually to be eligible to get a home loan of Rs. 45 Lakhs.
The 45 lakh home loan EMI for 30 years from HDFC Bank varies between Rs. 35,402 as the home loan interest rates of the bank range from 8.50% - 9.55% p.a.
According to the standard rule followed by banks, they offer home loans according to many factors but usually, the home loan amount can go up to 60 times of what you earn, i.e. 60 x 40000 in this case. This means, if you are earning Rs. 40,000 per month, you are eligible for a home loan amount of Rs. 23,00,000.
Reshma Rawat is a passionate writer, with a decade of experience in writing for a variety of domains (finance, technology, lifestyle, e-commerce, real estate, etc.). Currently, she is working as Assistant Manager - Content @MyMoneyMantra, and writes blogs & webpages on financial products (loans, credit cards, insurance, financial policies by government, mutual funds, etc.
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