5 Crore Home Loan EMI

Paying your home loan EMI is the first thing that you pay once your salary gets credited. It is very important to take into account the magnitude of your home loan EMI beforehand taking a loan of big amount as Rs 5 crore.

Following are the details of Rs 5 crore home loan EMI for 10 years, 20 years and 30 years tenure at a 7.90% p.a. interest rate:

Additional Info: Bank Balance Check Number

Below list shows the home loan interest rates for various banks along with their minimum and maximum interest rate per annum that they offer on a Rs 5 crore home loan:

Some of the best banks and lending institutions that offer home loans of Rs 5 crores are:

• State Bank of India
• HDFC Bank
• ICICI Bank
• Bajaj Finserv
• LIC Housing Finance
• PNB Housing Finance
• Bank of Baroda
• Bank of Maharashtra

The interest rate for the loan of Rs. 5 crores starts from 7.90% p.a. at present, and it may differ from lender to lender for different borrowers based on their income, credit score, gender, and other eligibility factors. Upon doing your home loan eligibility check the maximum interest rate that you can be offered is around 14% but that is for a few cases where the credit score of the applicant is quite poor.

Also Read - LRD Loans

Below is the table for Rs 5 crore home loan EMI for different banks for 10, 20 and 30 years using the Rs 5 crores Home Loan EMI Calculator:

This is the most likely tenure which many of you will go for. Why? because it is a balance between home loan EMI and the overall home loan interest amount that you will pay at the end of the tenure.

Below is the table depicting different EMIs on Rs. 5 crores loan at the different interest rates for 20 years tenure:

Tip: 50 Lakh Home Loan EMI Interest Rate 2022 before applying for a loan

The factors that affect Rs. 75 lakh home loan EMI are:

• Income: Individuals employed in Central/State Government organisations and Public Sector Organisations have guaranteed income. The interest rates for loans to these individuals will be comparatively lower, and the cost of the loan will also be lower.
• Interest type: If you have chosen a fixed interest rate, then the rate of interest will be 1 to 2% higher than the floating interest rate. As per current trend it is advisable to go for a fixed interest rate initially for 3 yrs and then switch to floating rate of interest.
• LTV Ratio: The rate of interest charged depends on the LTV Ratio. Banks normally provide 80% of the market value of the property as a home loan. The higher the margin, the lower will be the interest rate as the risk associated will be lower for the lender. With a better interest rate, the EMI will also be lower.
• Tenure: A longer tenure will lead to a higher EMI and vice versa.

Additional Info: Also check Documents Required For Home Loan

You have to meet the following Home Loan Eligibility Criteria to be eligible to avail of a home loan of Rs. 5 Crores:

Eligibility for Salaried Applicants

• Applicants should be Indian residents.
• Applicants should be aged between 18 to 65 years.
• Applicants should have at least 3 years of work experience.
• Applicants should be earning a monthly income of at least Rs 3,20,000.

Eligibility for Self-employed Applicants

• Applicants should be Indian residents.
• Applicants should be aged between 18 to 65 years.
• Applicants should have a profitable business for at least the last 5 years.

Additional Info: Also Apply for Home Construction Loan

You will have to submit the following documents to apply for Rs 5 crore home loan:

• Duly filled and signed home loan application form.
• Recent passport-sized photographs of the applicant.
• Identity proof like Pan Card, Aadhaar Card, Passport, Driving License, Voter ID, etc.
• Address proof like Aadhaar Card, Passport, Driving License, Voter ID, etc.
• Age proof like Birth Certificate, Class 10th Certificate, etc.
• Bank statements of the last 6 months.
• Processing fee cheque.
• Form 16 or Income Tax Return.
• CA certified Balance Sheet and Profit & Loss Statement of last 3 years for self-employed applicants.
• Business profile of self-employed applicants.

Additional Info: Also check Documents Required For Home Loan

The step-by-step process to apply for a home loan of Rs 5 crores 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.

Tip: Best Home Loan for Salaried Person before applying for a loan