50 Lakh Home Loan EMI Interest Rate 2024

Updated on: 22 Apr 2024 // 6 min read // Home Loans

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50 Lakh Home Loan EMI Interest Rate 2024

A Rs 50 lakh home loan EMI is largely dependent on the home loan interest rates and the selected home loan repayment tenure. Home loans could help you materially in purchasing your first home as you can settle the home loan deal by paying a portion of total amount as down payment and rest through the bankrolled arrangement.

Before deciding on the home loan offer, you should always check the Rs 50 lakh home loan EMI as it can help you prepare for the repayments. Given the home loan interest rate of 8.50%, the Rs 50 lakh home loan EMI for various repayment tenures from 5 to 30 years can be checked through the table given below:

Loan Amount	Interest Rate	Loan Tenure	EMI
Rs. 50 Lakh	8.50%	30 Years	Rs. 38,446/-
Rs. 50 Lakh	8.50%	20 Years	Rs. 43,391/-
Rs. 50 Lakh	8.50%	15 Years	Rs. 49,237/-
Rs. 50 Lakh	8.50%	10 Years	Rs. 61,993/-
Rs. 50 Lakh	8.50%	5 Years	Rs. 1,02,583/-

50 Lakh Home Loan EMI Details

As a home loan borrower, you should make sure that the Rs 50 lakh home loan EMI falls under your repaying abilities. You’ll end up exhausting all earnings and will be pushed to take on more debt if Rs 50 lakh home loan EMI exceeds 50-60% of your total household income. Home loans are disbursed according to the seller’s requirements. Ready-to-move-in properties demand full payment in lump sum, while home loans are disbursed in tranches for under-construction units, as per the status of completion. Banks and housing financiers generally issue post-dated cheques (PDCs) to ensure timely payment of the loan amount.

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 Calculator

With the help of Rs 50 lakh home loan EMI calculator, you can understand the forthcoming home loan EMIs by providing the values for home loan interest rates and repayment tenure. Rs 50 lakh home loan EMIs can vary if the home loan interest rate changes. Secondly, any deviation in the repayment tenure can effectively change the Rs 50 lakh home loan EMI. Rs 50 lakh home loan EMI calculator can be used to determine the EMIs for various rates quoted by different banks and housing financiers for different tenures.

MyMoneyMantra’s Home Loan EMI Calculator can provide you the exact EMI for a Rs 50 lakh home loan for the desired number of years at a certain interest rate. Shorter home loan repayment tenures ensure less interest outgo but the resultant Rs 50 lakh home loan EMI increases substantially and vice-versa.

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. 38,446/
Total Interest – Rs. 88,40,443
Total Repayment – Rs. 1,38,40,443

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. 40,261
Total Interest – Rs. 70,78,406
Total Repayment – Rs. 1,20,78,406

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. 43,391
Total Interest – Rs. 54,13,879
Total Repayment – Rs. 1,04,13,879

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 Banks	Interest Rate	Loan tenure	EMI Payable
HDFC Bank	9.40% - 9.95%	30 Years	Rs. 41,678
SBI	8.50% - 10.05%	30 Years	Rs. 38,446
Kotak Mahindra Bank	8.70%	30 Years	Rs. 39,157
PNB Housing Finance	8.50%	30 Years	Rs. 38,446
HSBC	8.45%	30 Years	Rs. 38,269
IDFC First	8.75%	30 Years	Rs. 39,335
Federal Bank	8.80%	30 Years	Rs. 39,514
ICICI Bank	9.00% - 10.05%	30 Years	Rs. 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 Head	Eligibility 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 Profile	The home loan applicant can either be a salaried individual, a self-employed professional, or a self-employed non-professional.
Income	The 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 Status	The home loan applicant can be either an Indian citizen or a Non-Resident Indian.
Credit Score	A good credit score is a must for home loan approval. A credit score of 650 points or above is preferred.
Debt-Income Ratio	The 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 EMI	Rs. 2 Cr. Home Loan EMI	Rs. 5 Cr. Home Loan EMI
Rs. 80 Lakh Home Loan EMI	Rs. 75 Lakh Home Loan EMI	Rs. 60 Lakh Home Loan EMI
Rs. 45 Lakh Home Loan EMI	Rs. 50 Lakh Home Loan EMI	Rs. 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. 37,915.

✅ 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 8.35% p.a. The Rs. 50 lakh home loan EMI for 30 years from Union Bank of India is Rs. 38,092.

✅ 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. 39,757.

✅ 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 15 years from ICICI Bank is Rs. 40,231.

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

lowest home loan interest rates starting at 8.50% p.a. Its Rs. 50 lakh home loan EMI for 10 years is Rs. 61,592.

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