₹45 Lakh Home Loan EMI for 10, 15 & 20 Years with Interest Rate and Calculator (2024)

Planning to purchase a spacious property in a semi-urban area of a metropolitan city but don’t have sufficient funds? Take a home loan if you think you have the repayment capacity to pay off the loan within the specified tenure. To better understand your financial standing, calculate your home loan EMI first. For example, if you are taking a ₹45 lakh home loan for 30 years, your ₹45 lakh home loan would be ₹31,126.

You can derive this value with the help of our ₹45 lakh home loan EMI calculator. More details below about EMI on ₹45 lakh home loan.

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Your EMI depends on three factors – loan amount, loan tenure and interest rate and consists of two parts – the principal component and the interest component. So, when you’re paying your EMIs, a portion of the amount goes towards the interest and the other portion towards the principal.

Let’s understand the EMI on your ₹45 lakh home loan with an example. Suppose the interest rate is 8.45% p.a., and tenures are 5, 10, 15, 20 and 30 years. The following table shows you the EMIs derived by using a ₹45 lakh home loan EMI calculator:

You can calculate your ₹45 lakh house loan EMI either manually or with the help of an EMI calculator. Manual calculations can be extremely time consuming, so a better alternative can be using the Navi Home Loan EMI Calculator online.
This easy-to-use online tool is designed to give you accurate and quick results.

All you need to do is enter your loan details like the loan amount, tenure and interest rate, and you will be able to check your EMI in no time.

• Nationality: Indian resident
• Age: 25 to 62 years
• Type of employment: Salaried or Self-employed
• PAN and Aadhaar card
• Bank statement or GST returns

Taking a ₹45 lakh home loan for 10 years will increase your monthly repayment obligations but can help you pay off your loan faster. You can calculate your ₹45 lakh home loan EMI for 10 years with our home loan EMI calculator, but you must know how to do the manual calculation as well.

The formula for calculating EMI is:

EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}

Here, P denotes the principal amount, R is the monthly interest rate (annual interest rate divided by 12), and N is the number of EMI payments.
Let’s see how much will be your ₹45 lakh home loan EMI for 10 years:

EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1} = {45,00,000 x 0.00615 x (1+0.00615)^120} / {(1 + 0.00615)^120 – 1} = ₹53,158
EMI= ₹53,157.

Instead of doing this complex calculation, you can simply use an online home loan EMI calculator.

The details are given below:

You can also decide to increase your repayment tenure from 10 years to 20 years if you wish to decrease the EMI amount. Let’s see how it will affect your EMI payments.

As discussed above, the formula for manual calculation is:

EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}

Here, P is the principal amount, R is the monthly interest rate divided by 100, and N denotes the number of EMIs that you have to pay throughout the repayment tenure.

Therefore, the ₹45 lakh home loan EMI for 20 years will be:

EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1} = {45,00,000 x 0.00615 x (1+0.00615)^240} / {(1 + 0.00615)^240 – 1}
EMI= ₹35,950

If you want to obtain your EMI estimation in an easier and hassle-free way, you use the Navi online EMI calculator.

Here are the particulars:

Finally, let’s see how much the EMI will be for a ₹45 lakh home loan for 30 years. As we discussed before, the mathematical formula is:

EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}= {45,00,000x 0.00615 x (1+0.00615)^360} / {(1 + 0.00615)^360 – 1}
EMI= ₹31,126

An alternative to such troublesome and time-consuming calculations is using our online home loan EMI calculator.

Get the particulars in the table below: