Know more about the EMIs payable on a home loan of ₹45 Lakhs
With a home loan of ₹45 Lakhs, you can comfortably purchase the house of your dreams. Today, you can easily access a home loan of this amount online in a few clicks with the relevant documents at hand. Based on your means, age, years left to retirement and budget, you can choose various tenures over which to repay your ₹45 Lakh home loan EMIs.
It is important to know the EMI you will be required to pay based on your choice of tenure. Here is an overview of the different EMIs you may be asked to pay based on the duration if the interest rate is set at 8.65% p.a.:
Tenure |
EMI |
10 years |
₹56,155 |
15 years |
₹44,710 |
20 years |
₹39,480 |
25 years |
₹36,691 |
30 years |
₹35,081 |
*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.
The following provides a quick look at the probable EMI for a home loan of ₹45 Lakhs with a 10-year tenure:
Loan Amount |
₹45 Lakhs |
Interest Rate |
8.65% p.a. |
Loan Tenure |
10 Years |
EMI |
₹56,155 |
Total Payable Interest |
₹22,38,631 |
Total Repayment Amount |
₹67,38,631 |
*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.
Here is what the EMI for a home loan of ₹45 Lakhs may look like when you choose a 20-year tenure:
Loan Amount |
₹45 Lakhs |
Interest Rate |
8.65% p.a. |
Loan Tenure |
20 Years |
EMI |
₹39,480 |
Total Payable Interest |
₹49,75,281 |
Total Repayment Amount |
₹94,75,281 |
*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.
The table below provides a probable breakdown of your loan costs when the tenure is set at 30 years:
Loan Amount |
₹45 Lakhs |
Interest Rate |
8.65% p.a. |
Loan Tenure |
30 Years |
EMI |
₹35,081 |
Total Payable Interest |
₹81,29,020 |
Total Repayment Amount |
₹1,26,29,020 |
*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.
Lenders |
Starting Interest Rate |
PNB Housing Finance |
8.50% p.a. |
Union Bank of India |
8.50% p.a. |
Bajaj Housing Finance Limited |
8.55% p.a. |
L&T Finance |
8.60% p.a. |
LIC Housing Finance |
8.65% p.a. |
ICICI Bank |
9.00% p.a. |
Kotak Mahindra Bank |
9.00% p.a. |
Home First Finance Company |
9.00% p.a. |
Shubham Housing Finance |
9.90% p.a. |
Shriram Housing Finance |
11.50% p.a. |
*Disclaimer: The rates are subject to change at the lender’s discretion.
Here are some requirements most lenders need you to fulfil to be eligible for a home loan of ₹45 Lakhs:
You must be an Indian citizen and resident
For self-employed applicants
Age: 25 to 70 years
Business vintage: At least 5 years
For salaried applicants
Age: 23 to 62 years
Work experience: At least 3 years
Proof of Address: Aadhaar card, passport, utility bills, etc.
Proof of Identity: Aadhaar card, PAN card, voter ID, driving licence, etc.
For Self-employed:
Business licence details
TDS certificate
Profit and loss statement of the previous 3 years
ITR filings of the previous 2 years
Latest balance sheet of the business, audited by a certified CA
Certificates proving their qualification for self-employed professionals
For Salaried:
Form 16
Salary slips of the previous 3 months
ITR filings of the previous 2 years
The EMI on a ₹45 Lakh loan for a tenure of 5 years at an interest rate of 8.85% would be ₹93,085. For a tenure of 20 years, the EMI will be ₹40,055. The tenure and interest rate affects your ₹45 Lakh home loan EMI.
The interest on a ₹45 Lakh home loan varies from bank to bank. The interest rate you get also depends on your credit history, tenure and amount of the loan.
No, since home loans are secured, you cannot get a home loan for ₹45 Lakhs without any security.
You can get a home loan for a maximum repayment term of 30 years. This tenure thus results in the lowest EMI for home loans of ₹45 Lakhs.
The minimum salary for a loan of ₹45 Lakhs depends on the lender. Usually, lenders may require you to earn around ₹55,000.
Yes. This is because the CIBIL score requirements for a home loan are usually lenient. However, the loan terms offered may be unfavourable in this case. The interest rates might be high or the tenure shorter. So, try to improve your credit score before applying for a home loan of ₹45 Lakhs.