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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.

EMI for a Home Loan of ₹45 Lakhs for Various Tenures

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.

₹45 Lakhs Home Loan EMI Calculator

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Detailed Breakup of Home Loan of ₹45 Lakhs for 10 Years

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.

Detailed Breakup of Home Loan of ₹45 Lakhs for 20 Years

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.

Detailed Breakup of Home Loan of ₹45 Lakhs for 30 Years

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 Offering Home Loans of ₹45 Lakhs

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.

Eligibility Criteria & Documents Required for a ₹45 Lakh Home Loan

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

  • Also, submit the documents listed below:
  • KYC Documents:

    • Proof of Address: Aadhaar card, passport, utility bills, etc.

    • Proof of Identity: Aadhaar card, PAN card, voter ID, driving licence, etc.

  • Proof of Income:

    • 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

Frequently Asked Questions

How much EMI will I have to pay if the home loan amount is ₹45 Lakhs?

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.

How much interest will I have to pay for a ₹45 Lakh Home Loan?

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.

Can I get a ₹45 Lakh home loan without any security?

No, since home loans are secured, you cannot get a home loan for ₹45 Lakhs without any security.

What is the maximum repayment tenure I can go for in the case of a ₹45 Lakh home loan?

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.

What is the minimum salary I need to have to get a ₹45 Lakh home loan?

The minimum salary for a loan of ₹45 Lakhs depends on the lender. Usually, lenders may require you to earn around ₹55,000.

I have a low credit score. Can I still get a home loan of ₹45 Lakhs?

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.

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