What is the EMI for 1 crore loan?
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Home loan up to Rs. 1 crore.
| Loan amount | Rs. 1 crore |
|---|---|
| EMI for a tenor of 15 years | Rs. 1,07,461 |
| EMI for a tenor of 20 years | Rs. 96,502 |
Rs 1 crore home loan EMI for 25 years at interest rate of 9.5% has a monthly EMI of Rs 87,370. This means that the total interest paid is Rs 1.62 lac during the full loan tenure without any prepayments. Rs 1 crore home loan EMI for 20 years at interest rate of 9.5% has a monthly EMI of Rs 93,213.
Documents required to avail the loan using the web portal:
GST Identification Number and GST login details. Bank statement for six months in PDF format. Last three years income tax return in XML format and e-filing details. Details of the Partner/Director – both personal and educational information will be required.
| Loan Amount | Rs. 70 lakh |
|---|---|
| Interest Rate | 7.70%* |
| Tenor | 20 Years |
| EMI | Rs. 57,251 |
| Loan Amount | Rs. 60 lakh |
|---|---|
| Interest Rate | 7.20%* p.a. |
| Tenor | 30 Years |
| EMI | Rs. 42,778 |
Anybody with a stable source of income can apply for Rs 1 Crore Home Loan provided by HDFC Bank. Some key factors that play a massive role in your loan-approval process are: Your age. Your qualification.
| 1 Crore FD Interest Per Month | Annual Income on 1 Crore Fixed Deposit | Monthly Interest on 1 Crore FD |
|---|---|---|
| 7% | ₹ 7 Lakhs | ₹ 58,333 |
| 6.5% | ₹ 6.5 Lakhs | ₹ 54,167 |
| 6% | ₹ 6 Lakhs | ₹ 50,000 |
| 5% | ₹ 5 Lakhs | ₹ 41,667 |
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Rs. 2 Crore Home Loan Interest Rates - 2022.
| Banks | Minimum Interest Rate | Maximum Interest Rate |
|---|---|---|
| Kotak Mahindra Bank | 7.50% | 8% |
| HDFC Bank | 7.55% | 8.55% |
| Axis Bank | 7.60% | 12% |
| ICICI Bank | 7.60% | 8.45% |
Eligibility Criteria for Home Loan of ₹ 1 Cr
To qualify for a Home Loan of ₹1 crore you need to meet the following criteria: If salaried : You should be an Indian resident. You must be above the age of 18 years and under the age of 70 years.
As the houses in metro cities are priced in the range of Rs 50 lakh to Rs 1 crore, the down payment amount is in the range of Rs 10 to Rs 20 lakh.
How much loan can I get on 50000 salary?
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Multiplier Method.
| Salary | Expected Personal Loan Amount |
|---|---|
| Rs. 40,000 | Rs. 10.80 lakhs |
| Rs. 50,000 | Rs. 13.50 lakhs |
| Rs. 60,000 | Rs. 16.20 lakhs |
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EMI for Rs. 80 Lakhs Home Loan for 30 Years.
| Rate of Interest (p.a.) | Tenure | EMI for Rs. 80 Lakhs Loan |
|---|---|---|
| 7.20% | 30 years | Rs. 54,303 |
| 7.55% | 30 years | Rs. 56,211 |
| 7.75% | 30 years | Rs. 57,313 |
| 8.55% | 30 years | Rs. 61,797 |
| Net Monthly Income (₹) | Loan Amount (₹) |
|---|---|
| ₹ 30,000 | ₹ 17,09,806 |
| ₹ 35,000 | ₹ 20,46,586 |
| ₹ 40,000 | ₹ 23,83,366 |
| ₹ 50,000 | ₹ 30,56,926 |
| Salary / Income per Month | SBI Home Loan Eligibility | HDFC Home Loan Eligibility |
|---|---|---|
| 25000 | 1400000 | 1350000 |
| 30000 | 1700000 | 1600000 |
| 35000 | 2000000 | 1900000 |
| 40000 | 2300000 | 2200000 |
| Loan Amount | Interest Rate | EMI |
|---|---|---|
| ₹ 10,00,000 | 10.30% | ₹ 88,055 |
| ₹ 10,00,000 | 10.30% | ₹ 46,284 |
| ₹ 10,00,000 | 10.30% | ₹ 32,408 |
| ₹ 10,00,000 | 10.30% | ₹ 25,507 |
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How to calculate your home loan eligibility?
| Net Monthly Income (Rs.) | Home Loan Amount (Rs.) |
|---|---|
| 50,000 | 38,04,983 |
| 60,000 | 46,43,370 |
| 70,000 | 54,81,756 |
| 80,000 | 63,20,142 |
Rs 50 lakh home loan EMI for 30 years at interest rate 10% has a monthly EMI of Rs 43,879. This means that the total interest paid is Rs 1.1 crore during the full loan tenure without any prepayments. Rs 50 lakh home loan EMI for 25 years at interest rate of 10% has a monthly EMI of Rs 45,435.
| Loan Amount | Interest rate | EMI |
|---|---|---|
| Rs. 40 lakh | 7.70%* | Rs. 30,177 |
The facility enables lakhs of pre-approved customers to get an instant sanction letter for education loans up to Rs. 1 crore against their fixed deposits with the Bank." The Instant Education Loan is a pre-approved education loan offer for ICICI Bank customers without the hassle of any paper work.
Mumbai: The Reserve Bank of India (RBI) Thursday decided to raise the criteria for 'bulk deposits' for banks to Rs 2 crore from the current Rs 1 crore, to provide more operational freedom to lenders to raise funds.
Can I deposit 2 crore bank?
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Key Benefits.
| FEATURES | BENEFITS |
|---|---|
| Minimum Deposit Value | INR 2 crore |
| Minimum Tenure | 7 days |
| Annual Income (Taxable) | Applicable Surcharge Rates |
|---|---|
| Between Rs. 50 Lakh and Rs. 1 Crore | 10% |
| From Rs. 1 Crore to 2 Crore | 15% |
| From Rs. 2 Crore to 5 Crore | 25% |
| Rs. 5 Crore and above | 37% |
One can avail an in-principle approval of home loans of up to ₹10 crore on the portal. Who are eligible? Any salaried or self-employed individual can apply for the home loan of up to ₹10 crore. Salaried individual should have filed their income tax returns in ITR 1 or 2 as applicable.
- Agricultural Loans.
- Education Loans.
- Housing Loans.
- Loan Repayment.
- Veterans Loans.
Banks Offering The Lowest Interest Rates
Private sector lender HSBC Bank is currently offering the cheapest interest rate of 6.85-7.75 per cent. Canara Bank offers 7.05-11.85 per cent interest rates on home loans. Karur Vysya Bank is offering home loans at the interest rates of 7.15-9.35 per cent.
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Rs. 1 Crore Home Loan Interest Rates - 2022.
| HDFC Bank | 7.55% to 8.05% p.a. |
|---|---|
| Tata Capital | 7.75% to 12% p.a. |
| PNB Housing Finance | 7.50% to 9.80% p.a. |
| Federal Bank | 8.55% to 8.70% p.a. |
| State Bank of India | 7.55% to 8.25% p.a. |
| Net monthly income | Home loan amount |
|---|---|
| Rs. 45,000 | Rs. 37,53,591 |
| Rs.50,000 | Rs. 41,70,657 |
| Rs. 60,000 | Rs. 50,04,788 |
| Rs. 70,000 | Rs. 58,38,919 |
If your monthly income is Rs. 55,000 net, your Home Loan EMI can be a maximum of Rs. 22,500, as per the 50% rule. Assuming, you take the Home Loan for a period of 20 years, as is the usual benchmark, at the rate of 10% per annum, a loan amount of Rs.
Long and short of it - it will be extremely difficult, if not impossible, to buy a house worth ₹ 1 crore (₹ 10 million) in 5 years, based on your current income.
To accumulate a corpus of Rs 1 Crore in 5 years, with an expected rate of return of 9%, you would have to start a monthly SIP of Rs 1,31,597 per month.
At what salary should I buy a house?
As a thumb rule, the price of home should be 5 times of one's take home annual pay. For example, if the net annual income is Rs 15 lakh, the cost of the house should be Rs 75 lakh.
It's possible to get a personal loan if you're 18 years old and have limited credit history. However, your options are more limited compared to people who have a more established credit history, higher income and more savings.
In most cases, individuals are eligible for a personal loan amount of up to 30 times their monthly income. Additionally, to minimise the risk of default, lenders keep the EMIs of the loan to about 45-60% of your monthly income.
Banks and financial institutions ensure that loan EMIs don't exceed 40-45 per cent of your net salary.
| Instalment details | Tenor of 10 years | Tenor of 15 years |
|---|---|---|
| EMI for Rs. 55 lakh home loan | Rs. 72,683 | Rs. 59,103 |
| EMI for Rs. 60 lakh home loan | Rs. 79,290 | Rs. 64,476 |
| EMI for Rs. 70 lakh home loan | Rs. 92,506 | Rs. 75,222 |
| EMI for Rs. 75 lakh home loan | Rs. 99,113 | Rs. 80,595 |
| Monthly Payment (EMI) | Total Interest Payable in 20 years | Total Payment (Principal + Interest) after 20 years for 20 Lakh of loan amount |
|---|---|---|
| Rs. 15,267 | Rs. 16,64,030 | Rs. 36,64,030 |
| Loan amount | Tenure | EMI |
|---|---|---|
| Rs. 30 lakhs | 15 years | Rs. 26, 133 |
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How much home loan can I get on a 75000 salary?
| Net monthly income | Home loan amount** |
|---|---|
| Rs. 75, 000 | Rs. 62,55,985 |
| Rs. 74,000 | Rs. 61,72,572 |
| Rs. 73,000 | Rs. 60,89,159 |
Banks generally do no lend an amount on which the EMI will be more than 45-50 per cent of your monthly take-home pay. It's better to take a loan where the home loan EMI is not more than 35 per cent of your monthly income while total EMI including car loan etc should be restricted to 50 per cent.
SBI Emergency Loans
India's largest public sector bank - State Bank of India is giving relief to the SBI account holders by giving Rs. 5 lakh loan within an hour. The largest lender is offering emergency loans in the amid of COVID-19. The loans can be availed online from the YONO APP.
Can I get 90 percent home loan?
In a notification, RBI allowed a loan-to-value ratio (LTV) of up to 90% for home loans of ₹ 30 lakh or less. Earlier, 90% LTV was allowed only for loans up to ₹ 20 lakh. LTV denotes how much of the property value a bank can lend to a borrower.
What is the maximum age for home loan? As the age of 60-65 coincides with retirement for most people, lenders treat this as the maximum age limit for home loans in India. Bajaj Finserv, for instance, has a limit of age 62 years for salaried home loan applicants, and 70 years for self-employed home loan applicants.
Loan Amount Eligibility. ₹ 25 Lakh to ₹ 7 Cr. Maximum loan as percent of property value. Upto 90% Maximum EMI as percent of income.
| Loan Amount (Rs) | Tenure (years) | EMI (Rs) |
|---|---|---|
| 5 lakh | 1 | 44,191 |
| 5 lakh | 2 | 23,304 |
| 5 lakh | 3 | 16,369 |
| 5 lakh | 4 | 12,923 |
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Top Banks Fixed Deposit Interest Rates.
| Banks | Interest Rate | Per Month Interest Amount |
|---|---|---|
| SBI | 2.90% to 5.50% | Rs. 7,250 - Rs. 13,750 |
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Monthly Interest for ₹20 Lakh Fixed Deposit.
| Financial Institution | Interest rates | Total Interest Amount Earned |
|---|---|---|
| SBI | 2.90% to 6.20% | Rs. 58,000 to Rs. 6,20,000 |
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Rs. 1 Crore Home Loan Interest Rates - 2022.
| HDFC Bank | 7.55% to 8.05% p.a. |
|---|---|
| Tata Capital | 7.75% to 12% p.a. |
| PNB Housing Finance | 7.50% to 9.80% p.a. |
| Federal Bank | 8.55% to 8.70% p.a. |
| State Bank of India | 7.55% to 8.25% p.a. |
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Interest Rate on 1 Cr in Banks for Senior Citizens.
| Bank | Interest on 1 Cr | Total Monthly Interest Earned |
|---|---|---|
| SBI | 3.40% to 6.30% | Rs. 28,333 to Rs. 52,500 |
| Bank | Interest Rate on Rs. 5 Lakh (p.a.) | Rs. 5 crore FD Interest (p.m.) |
|---|---|---|
| SBI | 2.90% - 5.50% | Rs. 1,20,800 - Rs. 2,29,200 |
| Punjab National Bank | 2.90% - 5.25% | Rs. 1,20,800 - Rs. 2,18,800 |
| HDFC Bank | 2.50% - 5.60% | Rs. 1,04,200 - Rs. 2,33,300 |
| Axis Bank | 2.50% - 5.75% | Rs. 1,04,200 - Rs. 2,39,600 |
The facility enables lakhs of pre-approved customers to get an instant sanction letter for education loans up to Rs. 1 crore against their fixed deposits with the Bank." The Instant Education Loan is a pre-approved education loan offer for ICICI Bank customers without the hassle of any paper work.
