Quick Answer: What Is The EMI For 20 Lakhs Home Loan?

How is EMI for home loan calculated?

The mathematical formula to calculate EMI is: EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months..

Can I get 15 lakh loan?

15 lakh with flexible repayment….Axis Bank Personal Loan Details.Interest Rate12% – 21% p.a.Loan AmountUp to Rs.15 lakhLoan TenureUp to 5 yearsMinimum Income RequiredRs.15,000 (monthly)

What is the EMI for 30 lakhs home loan for 20 years?

Emi Calculated on 6.80%.Monthly Payment (EMI)Total Interest Payable in 20 yearsTotal Payment (Principal + Interest) after 20 years for 30 Lakh of loan amountRs.22900Rs.2496045Rs.5496045

What is the EMI for 15 lakhs home loan?

EMI Calculations for a Home Loan of Rs. 15 Lakh with Different TenorsLoan AmountEMI when Tenor is 10 YearsEMI when Tenor is 15 YearsRs. 15,00,00019,82316,119

What is the EMI for 50 lakhs home loan?

This practice will help you select a feasible 50 lakh housing loan EMI structure….EMI Calculations for a Home Loan of Rs. 50 Lakh with Different Tenors.Tenor of the LoanEMI Payment (Rs.)Total Interest Payable (Rs.)10 years66,07529,29,07915 years53,73046,71,51120 years48,25165,80,296

How much loan can I get on 40000 salary?

If you take a personal loan for a maximum of 5 years, then your loan amount will be ₹ 20,000*12*5 = ₹ 12,00,000. However, the multiplier is 20, then the loan amount will be ₹ 40,000*20 = ₹ 8,00,000. Therefore, the amount you will get on ₹ 40,000 salary is ₹ 8,00,000.

What will be the EMI for 25 lakhs home loan?

Current EMI for ₹ 25 Lakh loan is ₹ 16,132 and EMI for ₹ 30 Lakh loan is ₹ 19,358 for a 30 year loan at the minimum interest rate.

Can I get 50 lakh loan?

50 lakhs, a maximum loan of Rs 30 lakhs is available. For a commercial property at Rs 50 lakhs, a maximum loan of Rs 35 lakhs is available. Age: Salaried individuals should be in the age bracket of 21 to 60 years and self-employed should be between 25 to 65 years.

What is EMI per lakh for home loan?

Last Updated 05th Apr 2021. SBI home loan EMI per ₹ 1 Lakh is ₹ 645, which is one of the lowest EMI offered by banks. Housing loan EMI in SBI is calculated based on loan amount, loan tenure and interest rate.

How much loan I can get if my salary is 25000?

Here taking a salary as ₹ 25k, & without any fixed monthly obligation, you can pay a maximum of ₹ 12,500 as EMI considering 50% FOIR. If the interest rate is 10% per annum, the loan amount eligibility can be arrived at ₹ 13,73,026 using a home loan eligibility calculator (assuming 3 household members).

How much loan can I get if my salary is 15000?

HDB Financial Services offers personal loans of up to Rs. 20 lakh to individuals who earn a minimum income of Rs. 15,000.

Can I buy a house with 40000 salary?

Take a homebuyer who makes $40,000 a year. The maximum amount for monthly mortgage-related payments at 28% of gross income is $933. ($40,000 times 0.28 equals $11,200, and $11,200 divided by 12 months equals $933.33.)

How much loan can I get on 50000 salary?

How much home loan can I get on my salary?Net Monthly incomeHome Loan AmountRs.30,000Rs.22,37,206Rs.40,000Rs.29,82,941Rs.50,000Rs.37,28,676Rs.70,000Rs.52,20,1461 more row

How much loan can I get if my salary is 20000?

Consider – how much personal loan can I get on a 20,000 salary? Sans any other financial obligations, you can expect to be eligible for a loan of Rs. 5,40,000….Multiplier Method.SalaryExpected Personal Loan AmountRs. 20,000Rs. 5.40 lakhsRs. 30,000Rs. 8.10 lakhsRs. 40,000Rs. 10.80 lakhsRs. 50,000Rs. 13.50 lakhs1 more row•Apr 8, 2020

Can I take 2 home loans?

So, although, you can take home loans for more than one property, the aggregate amount of deduction shall be restricted to Rs 1.5 lakhs, for repayment of the principal amount of all the home loans taken together. … Likewise, there is no provision for reversal of tax, in case you repay your loan within five years.

How is loan amount calculated?

The bank uses the latest interest rate to calculate this. So if your monthly net savings is Rs 12,600, the bank assumes that that is the amount available to pay off the EMI. If the prevailing interest rate is 10 per cent and you have applied for a loan tenure of 10 years, you will be eligible for a loan of Rs 9.5 lakh.

Can I get 1 crore home loan?

Rs 1 crore home loan EMI for 15 years at interest rate of 8.5% has a monthly EMI of Rs 98,474. This means that the total interest paid is Rs 77 lac during the full loan tenure without any prepayments. Rs 1 crore home loan EMI for 10 years at interest rate of 8.5% has a monthly EMI of Rs 1.23 lakh.

What is the EMI for 6 lakhs home loan?

Note*; EMI Calculated on 8.00% Rate of Interest….6 Lakh Home Loan EMI Details.Repayment PeriodEMI Per Month25 YearsRs. 463230 YearsRs. 44044 more rows•Dec 5, 2016