₹1.5 Crores Home Loan EMI

Bajaj Housing Finance, L&T Finance, LIC Housing Finance, PNB Housing Finance, and Sammaan Capital offer home loans of up to ₹1.5 Crores on Bajaj Markets. The interest rates start from 7.45% p.a., with repayment options extending up to 32 years.

For example, if you take a ₹1.5 Crores home loan for 32 years at an interest rate of 7.45% p.a., your estimated EMI will be around ₹1,02,658. Over the full tenure, you would pay a total interest of approximately ₹2,44,20,726, making your overall repayment amount ₹3,94,20,726.

Understanding how the EMI changes with different loan tenures helps you plan repayments that match your income and long-term goals. Choosing the right tenure can lower your monthly payments, but it may also increase the total interest you pay over time. Here is a breakdown of the ₹1.5 Crores home loan EMI for different tenure options at an interest rate of 7.45% p.a.:

Choosing the right tenure for your ₹1.5 Crore home loan affects both your monthly EMI and the total interest you’ll pay, so it’s vital to compare options carefully. Here is a clear, year-wise breakdown at 7.45% p.a. to help you judge affordability and long-term cost:

₹1.5 Crores Home Loan EMI for 5 Years

This table shows how your ₹1.5 Crores home loan is repaid over time at an interest rate of 7.45% p.a., helping you understand how your balance and interest payments reduce each year:

₹1.5 Crores Home Loan EMI for 15 Years

This table shows how your ₹1.5 Crores home loan at 7.45% p.a. is repaid yearly, with each EMI reducing both interest and principal amounts:

Knowing how your home loan EMI is calculated helps you plan your finances better and avoid surprises during repayment. While you can easily use a home finance EMI calculator on Bajaj Markets, understanding how the number is derived gives you better control over your financial decisions. The EMI amount depends on three key factors — your loan amount, interest rate, and tenure. 

The formula used to calculate EMI is:

EMI = [P × R × (1 + R)N] / [(1 + R)N-1]

Here’s what each term means:

• P represents the total loan amount you borrow from the lender

• R refers to the monthly rate of interest, calculated by dividing the annual rate by 12 and then by 100

• N stands for the loan duration in months, indicating how long you’ll take to repay the amount

Let’s understand this with a simple example:

Suppose you take a ₹1.5 Crores home loan at an annual interest rate of 7.45% for a tenure of 20 years (240 months).

• Loan amount (P) = ₹1,50,00,000

• Annual interest rate = 7.45%

• Monthly interest rate (R) = 7.45 / 12 / 100 = 0.006208

• Tenure (N) = 240 months

Now, applying these values to the formula:

• EMI = 1,50,00,000 × 0.006208 × (1 + 0.006208)²⁴⁰ / [(1 + 0.006208)²⁴⁰ – 1]

• EMI = 1,50,00,000 × 0.006208 × 4.2697 / (4.2697 – 1)

• EMI = 1,50,00,000 × 0.02651 / 3.2697

• EMI = ₹1,20,380

Your monthly EMI will be about ₹1,20,380. Over 20 years, the total repayment will be approximately ₹2,88,91,390, which includes both the principal and the interest.

Comparing interest rates and loan terms helps you choose the most affordable and flexible option for your budget. Here are some leading lenders on Bajaj Markets offering house loans: