Getting a home loan involves strategic budgeting and an effective repayment plan, especially for amounts as high as ₹50 Lakhs. Navigating the intricacies of repayment and aligning the monthly instalment with your financial capacity is crucial.
The choice of home loan repayment tenure significantly impacts the EMI amount. Opting for a longer tenure reduces monthly EMI but escalates overall interest costs. On the contrary, a shorter tenure leads to higher EMIs but lowers the total interest to be paid. Utilising an EMI calculator aids in precise budgeting and facilitates prudent financial decisions.
50 Lakhs Home Loan Emi Calculator
Home Loan Amortization Schedule
| Year | Principal | Interest | Balance |
|---|
Assuming an interest rate of 8.50% p.a., a 10-year tenure strikes a balance between manageable EMIs and minimising interest outlays. The breakdown is as follows:
EMI |
₹51,993 |
Total Interest |
₹24,39,141 |
Total Repayment Amount |
₹74,39,141 |
Extending the tenure to 20 years enhances affordability, ensuring a comfortable balance between repayment and financial stability. The details are outlined below:
EMI |
₹43,391 |
Total Interest |
₹54,13,879 |
Total Repayment Amount |
₹1,04,13,879 |
For those prioritising financial flexibility, a 30-year tenure results in the lowest EMIs. However, this extends the overall repayment period and increases the overall interest costs. The breakdown is as follows:
EMI |
₹38,446 |
Total Interest |
₹88,40,443 |
Total Repayment Amount |
₹1,38,40,443 |
Utilise the EMI calculator to find a loan tenure that is aligned with your financial goals. This ensures that your dream home is within reach and fits your budgetary constraints.
Here are the lenders that offer a home loan of ₹50 Lakhs on Bajaj Markets:
Lender |
Min. Interest Rate |
Max. Loan Amount and Tenure |
Bajaj Housing Finance |
8.50% p.a. |
|
ICICI Bank |
9.00% p.a. |
|
India Shelter |
10.50% p.a. |
|
Kotak Mahindra Bank |
9.00% p.a. |
|
LIC Housing Finance |
8.65% p.a. |
|
PNB Housing Finance |
8.50% p.a. |
|
Shriram Housing Finance |
11.50% p.a. |
|
Shubham Housing Finance |
10.90% p.a. |
|
Union Bank of India |
8.50% p.a. |
|
*Disclaimer: The aforementioned details and charges are subject to change at the lender’s discretion.
Before initiating your loan application, evaluate your home loan eligibility according to the specific criteria set by the lender to ensure a smooth application process. Keep the necessary documents handy, including identity proof, address proof, income proof, and documents related to your new home.
Other Home Loan EMI Options
Home Loan Quick Links
- Apply for Home Loan
- Home Loan Eligibility
- Home Loan Interest Rate
- Home Loan EMI Calculator
- Home Loan Documents
- Home Loan for Government Employees
- Home Loan for Self Employed
- Home Construction Loan
- Home Renovation Loan
- Home Loan Tax Saving Calculator
- Home Loan for Women
- Home Loan Procedure
- Home Loan Top Up
- Home Loan Statement
- Joint Home Loan
Government Schemes
- PMAY Scheme
- PMAY List
- Banglarbhumi West Bengal Land Record
- AnyRoR Gujarat Land Records
- Meebhoomi Andhra Pradesh Land Record
- Telengana Land Record
- Bhulekh Odisha
- Online EC Karnataka
- IGRS Telangana
- E-Swathu Karnataka
- IGRS Andhra Pradesh
- TN RERA
- Maha RERA
- Encumbrance Certificate
- MHADA Lottery
- Dharitri Assam
FAQs
Can I get a ₹50 Lakh home loan without any security?
You can get a home loan only by pledging your property as security. Thus, it won’t be possible for you to borrow this amount without a collateral.
What is the maximum repayment tenure I can go for in the case of a home loan of ₹50 Lakhs?
Generally, you can opt for a tenure of up to 40 years with a home loan of ₹50 Lakhs. However, the repayment period offered to you depends on your eligibility and the lender’s policies.
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