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50 Lakh Home Loan EMI Interest Rate 2023

Updated on: 02 Aug 2023 // 26 min read // Home Loans
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50 Lakh Home Loan EMI Interest Rate 2023

Owning a big house requires substantial funds. Thankfully these funds can be easily arranged through a home loan. If you too want to live this dream and want to know what is the EMI for 50 lakhs home loan, let’s find it out with the help of a 50 lakh home loan EMI calculator.

You can also Apply for Kotak Home Loan and check EMI, Interest rate and Eligibility Online to avail offer.

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Let’s understand home loan EMI for Rs. 50 lakhs with an example. Assuming that the interest rate is 8.50% p.a. and tenures are 5, 10, 15, 20 and 30 years, your EMI on Rs. 50 lakhs home loan using the Home Loan EMI Calculator will be as follows:

Loan AmountInterest RateLoan TenureEMI
Rs. 50 Lakh8.50%30 YearsRs. 38,092/-
Rs. 50 Lakh8.50%20 YearsRs. 43,075/-
Rs. 50 Lakh8.50%15 YearsRs. 48,944/-
Rs. 50 Lakh8.50%10 YearsRs. 61,726/-
Rs. 50 Lakh8.50%5 YearsRs. 1,02,342/-

50 Lakh Home Loan EMI Details

The home loan principal amount is received in a lump sum. The proceeds are to be repaid in the decided loan tenure. The amount to be repaid every month will be Rs. 50 lakh home loan EMI. The same is calculated using Rs. 50 lakh home loan EMI calculator. The ideal EMI is according to the repayment capacity of the borrower.  To increase or decrease the EMI amount, adjustments in the loan term are made while using the Rs. 50 lakh home loan EMI calculator. Most lending companies have a maximum loan term of up to 30 years.

The table below shows the EMI details for different loan tenures for Rs. 50 lakh home loan. The rate of interest is @ 8.50% per annum.

Looking for 1 Crore Home Loan? Check Interest rates, Eligibility, and EMI Online.

50 Lakh Home Loan EMI for 30 Years

What is the EMI for 50 lakhs home loan? We can find out the Rs. 50 lakh home loan EMI with the help of Rs. 50 lakhs home loan EMI calculator.

  • Loan Amount – Rs. 50,00,000
  • Rate of Interest – 8.50% p.a.
  • EMI value – Rs. 38,092
  • Total Interest – Rs. 87,13,078
  • Total Repayment – Rs. 1,37,13,078

50 Lakh Home Loan EMI for 25 Years

What is the EMI for 50 lakhs home loan? We can find out the Rs. 50 lakh home loan EMI for 25 years with the help of Rs. 50 lakhs home loan EMI calculator.

  • Loan Amount – Rs. 50,00,000
  • Rate of Interest – 8.50% p.a.
  • EMI value – Rs. 39,925
  • Total Interest – Rs. 69,77,490
  • Total Repayment – Rs. 1,19,77,490

50 Lakh Home Loan EMI for 20 Years

What is the EMI for 50 lakhs home loan? We can find out the Rs.50 lakh home loan EMI for 20 years with the help of Rs. 50 lakhs home loan EMI calculator.

  • Loan Amount – Rs. 50,00,000
  • Rate of Interest – 8.50% p.a.
  • EMI value – Rs. 43,075
  • Total Interest – Rs. 53,38,054
  • Total Repayment – Rs. 1,03,38,054

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50 Lakh Home Loan Interest Rates

The interest rates on home loans are linked to the lending rate fixed by the Reserve Bank of India. While some banks and non-banking financial companies in India approve home loans at MCLR rates, others add a certain percentage to determine their lending rate. Listed below are the leading banks that offer the most competitive rate of interest on Rs. 50 lakh home loans in India.

Compare Best Home Loan Interest Rates starting @8.50% from multiple Banks and NBFCs.

50 Lakh Home Loan EMI Interest Rate Comparison with Other Lenders:

Top BanksInterest RateLoan tenureEMI Payable
HDFC Bank8.50% - 9.40%30 YearsRs. 38,092
SBI8.40% - 10.15%30 YearsRs. 40,772
Kotak Mahindra Bank8.75% - 9.60%30 YearsRs. 39,335
PNB Housing Finance8.50% - 11.25%30 YearsRs. 39,335
HSBC8.60% - 8.85%30 YearsRs. 38,801
IDFC First8.85% - 9.25%30 YearsRs. 39,693
Federal Bank8.80% p.a. onwards30 YearsRs. 44,434
ICICI Bank9.00% - 10.05%30 YearsRs. 40,231

Eligibility Criteria for 50 Lakh Home Loan

To get a home loan approved it is important that the borrower meets the lending company’s eligibility criteria. Though the eligibility conditions vary from one lender to another, the broad eligibility conditions are as under:

Eligibility HeadEligibility Criteria
Age

The minimum age of a home loan borrower is 21 years and the maximum age of the borrower should not be more than 65 years. 

The home loan term cannot be more than the number of years remaining until retirement.

Work ProfileThe home loan applicant can either be a salaried individual, a self-employed professional, or a self-employed non-professional.
IncomeThe home loan borrower must have a regular and steady income. The minimum income clause varies from lender to lender.
Work Experience

The home loan applicant must have relevant work experience. 

For salaried individuals at least 2 years work experience of which at least last one year must be with the current employer. 

For self-employed individuals at least 3 years in the same business of which at least 2 years should reflect profit.

Residential StatusThe home loan applicant can be either an Indian citizen or a Non-Resident Indian.
Credit ScoreA good credit score is a must for home loan approval. A credit score of 650 points or above is preferred.
Debt-Income RatioThe home loan applicant must maintain a Debt-Income ratio lower than 50%. The lower the Debt-Income ratio, the better it is.

Documents Required for 50 Lakh Home Loan

Documents submission and verification is mandatory for a home loan approval. The home loan applicant must submit the following documents along with the home loan application. These are:

Age Proof (Any One)Passport / Driving License / Life Insurance Policy / School Leaving Certificate / PAN Card / Birth Certificate
Identity Proof (Any One)Passport / Driving License / PAN Card / Voter ID
Address Proof (Any One)Utility Bill / Bank Account Statements/ Property Tax Receipt / Voter ID/ Property Registration Documents
Income Proof (All)

Salaried

  • 3 months salary slips
  • Appointment letter
  • Increment letter
  • Last Form No. 16
  • Bank account statement of the salary account
  • Processing fee cheque issued from the salary account

 Self-Employed (Professional and Non-Professional)

  • 2 years IT returns
  • Business profile on letterhead
  • Business registration certificate
  • Last 6 months operative current account bank account statement Processing fee cheque issued from the business account

Different Home Loan EMI Options for Multiple Amount

Different Home Loan EMI Options

Rs. 1 Cr. Home Loan EMIRs. 2 Cr. Home Loan EMIRs. 5 Cr. Home Loan EMI
Rs. 80 Lakh Home Loan EMIRs. 75 Lakh Home Loan EMIRs. 60 Lakh Home Loan EMI
Rs. 45 Lakh Home Loan EMIRs. 40 Lakh Home Loan EMIRs. 35 Lakh Home Loan EMI

FAQs

 What is the EMI for a 50 lakh home loan for 20 years?

Rs. 50 lakh home loan EMI for 20 years @ rate of interest 8.50% p.a. is Rs. 43,075.

 What is 50 lakh home loan EMI for 30 years from Union Bank of India?

Union Bank of India offers home loans at a rate of interest starting at 8.50% - 10.95% p.a. The Rs. 50 lakh home loan EMI for 30 years from Union Bank of India is Rs. 38,446.

 What will be the  50 lakh home loan EMI for 25 years?

Rs. 50 lakh home loan EMI for 25 years @ rate of interest 8.50% p.a. is Rs. 39,925.

  What is the EMI for 50 lakhs home loan for 30 years from ICICI Bank?

ICICI Bank offers home loans at a rate of interest starting at 9.00% - 10.05% p.a. The Rs. 50 lakh home loan EMI for 30 years from ICICI Bank is Rs. 39,925.

  Which bank has the lowest Rs.50 lakh home loan EMI for 30 years?

HDFC LTD offers the lowest home loan interest rates starting at 8.50% p.a. Its Rs. 50 lakh home loan EMI for 30 years is Rs. 38,092.

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