₹50 Lakh Home Loan EMI for 10, 20 & 30 Years with Interest Rate and Calculator (2024)

Let’s face it. Purchasing a new house is a costly affair. You would need at least ₹50 lakh to 80 ₹80 lakh to buy a new house in a metro. Arranging such a substantial amount of money could be difficult for many. In such a situation, getting a home loan to finance your house could be a good option. However, before taking a housing loan, it’s important that you calculate your home loan EMI in advance. It would help you plan and manage your finances in a better way. Let’s say you have taken a home loan of ₹50 lakh. So, what would be your ₹50 lakh home loan EMI?

Use a ₹50 lakh home loan EMI to calculate your home loan EMI. The EMI calculation on your home loan is detailed below.

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When you take a home loan, you have to repay the same within a specified tenure in EMIs. For instance, your ₹50 lakh home loan EMI is based on three factors – the loan amount, the interest rate and the tenure. The EMI comprises the principal and interest components which are structured in a way that in the initial years of your loan, the interest component is much larger than the principal component, while towards the latter half of the loan, the principal component is much larger.

Let’s understand your ₹50 lakh home loan EMI with an example. We have considered the interest rate as 8.45% p.a. and tenures of 10, 15, 20, 25 and 30 years. Upon using a home loan EMI calculator, we derived that your EMI on ₹50 lakh home loan would be:

Your home loan EMI depends on the loan amount, tenure and interest rate. Though you can calculate your EMI for housing loan of ₹50 lakh manually, it could be extremely time consuming and might not give you accurate results. A better alternative could be Navi Home Loan EMI Calculator.

This easy to use online EMI calculator lets you calculate your housing loan EMI in a quick and hassle-free way. All you need to do is enter the loan amount, tenure and interest rate to quickly check your monthly repayment obligations.

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

Wondering what would be EMI on home loan of ₹50 lakh for a 10-year tenure? You can use the Navi Home Loan EMI Calculator to check your EMI. However, it’s also important to know how home loan EMIs are calculated manually.

EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}
Here P stands for loan principal and R denotes the interest rate divided by 100. N is the number of EMIs you will have to pay. For instance, if your loan tenure is 10 years, then N would be 120.

Here’s what your EMI for ₹50 lakh home loan for 10 years would look like if calculated manually:

EMI = ₹{5000000 x 0.789 x (1 + 0.789)^120} / {(1 + 0.789)^120-1} = ₹60,374.
As you could see, the calculations are quite complex and time-consuming. Instead, you could use our home loan EMI calculator. Here are the details below:

Just for curiosity, let’s calculate ₹50 lakh house loan EMI on 20 years tenure? As mentioned earlier, the formula for home loan EMI is:
EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}

Here P stands for loan principal and R denotes the interest rate divided by 100. N is the number of EMIs you will have to pay. For instance, if your loan tenure is 10 years, then N would be 120.

Here’s what your EMI for ₹50 lakh home loan for 20 years would look like if calculated manually:

EMI = ₹{5000000 x 0.789 x (1 + 0.789)^240} / {(1 + 0.789)^240-1} = ₹41,480

As you could see, the calculations are quite complex and time-consuming. Instead, you could use our home loan EMI calculator. Here are the details below:

Now let’s see what would be the home loan EMI for a ₹50 lakh loan with 30 years tenure. As mentioned earlier, the formula for home loan EMI is:
EMI = {P x R x (1+R)^N} / {(1 + R)^N – 1}

Here P stands for loan principal and R denotes the interest rate divided by 100. N is the number of EMIs you will have to pay. For instance, if your loan tenure is 30 years, then N would be 360.

Here’s what your EMI would look like if calculated manually:

EMI = ₹{5000000 x 0.789 x (1 + 0.789)^360} / {(1 + 0.789)^360-1} = ₹36,306

As you could see, the calculations are quite complex and time-consuming. Instead, you could use our home loan EMI calculator. Here are the details below: