A home loan of Rs. 45 Lakhs can be helpful in many ways including the purchase or construction of a new house, home renovation, extension, etc. You can avail of a housing loan of Rs. 45 Lakhs for a longer tenure to pay a smaller Rs. 45 Lakh Home Loan EMI.
A Rs. 45 Lakh Home Loan is a long-term commitment. You must be prepared and plan your budget in advance before availing of a home loan. It is crucial to understand all the merits and demerits of applying for such a big-ticket loan. The EMI for Rs. 45 Lakhs home loan may vary from bank to bank depending on the interest rate charged by the bank and the repayment tenure chosen by the borrower.
Following are the details of Rs. 45 Lakh home loan EMI for 10 years, 20 years and 30 years tenure at a 7.20% p.a. interest rate:
| EMI for a tenure of 10 years | Rs. 52,714 |
| EMI for a tenure of 20 years | Rs. 35,431 |
| EMI for a tenure of 30 years | Rs. 30,545 |
Additional Info: Also Check Best Banks for Home Loan in India in 2022
Many banks, Non-Banking Financial Companies (NBFCs), Housing Finance Companies (HFCs) offer home loans of Rs. 45 Lakh in India at different interest rates on Home Loan.
The table for different Home Loan interest rates of the top 10 banks and NBFCs for a home loan of Rs. 45 Lakhs is given below:
| State Bank of India | 7.55% to 8.25% p.a. |
| Bajaj Finserv | 7.20% to 14% p.a. |
| PNB Housing Finance Ltd. | 7.65% to 9.20% p.a. |
| Bank of Maharashtra | 7.30% to 9.20% p.a. |
| Kotak Mahindra Bank | 7.50% to 8% p.a. |
| HDFC Ltd | 8.10% to 9.00% p.a. |
| Axis Bank | 7.60% to 12% p.a. |
| ICICI Bank | 7.60% to 8.45% p.a. |
| Tata Capital | 7.75% p.a. onwards |
| Federal Bank | 8.55% to 8.70% p.a. |
Additional Info: Best Home Loan Interest Rates @6.70%
In addition to all banks, NBFCs and HFCs provide home loans of Rs. 45 Lakhs in India. Some of the best banks that offer home loans of Rs. 45 Lakhs are ICICI Bank, HDFC Bank, State Bank of India, Kotak Mahindra Bank, Punjab National Bank, Bank of Baroda, Bank of Maharashtra, Federal Bank, and Axis Bank. The sanctioned loan amount can be used for purchasing a flat/independent house, under-construction house, plot, and other housing-related purposes. The interest rate for the loan of Rs. 45 Lakhs start from 7.20% p.a. at present, and it may differ from lender to lender for different borrowers based on their income, credit score, gender, and other eligibility factors.
Additional Info: Apply SBI MaxGain Home Loan @6.70%
Below is the table for Rs. 45 Lakh home loan EMI for different banks for 10, 20 and 30 years using the Rs. 45 Lakhs Home Loan EMI Calculator:
| Bank/NBFC | Rate of Interest | EMI for 10 Years | EMI for 20 Years | EMI for 30 Years |
|---|---|---|---|---|
| State Bank of India | 7.55% – 8.25% p.a. | Rs. 53,533 – Rs. 55,194 | Rs. 53,533 – Rs. 38,343 | Rs. 31,619 – Rs. 33,807 |
| Bajaj Finserv | 7.20% – 14% p.a. | Rs. 52,714 – Rs. 69,870 | Rs. 35,431 – Rs. 55,958 | Rs. 30,545 – Rs. 53,319 |
| PNB Housing Finance Ltd. | 7.65% – 9.20% p.a. | Rs. 53,769 – Rs. 57,492 | Rs. 36,666 – Rs. 41,068 | Rs. 31,928 – Rs. 36,857 |
| Bank of Maharashtra | 7.30% to 9.20% p.a. | Rs. 52,947 – Rs. 57,492 | Rs. 35,703 – Rs. 41,068 | Rs. 30,851 – Rs. 36,857 |
| Kotak Mahindra Bank | 7.50% to 8% p.a. | Rs. 53,416 – Rs. 54,597 | Rs. 36,252 – Rs. 37,640 | Rs. 31,465 – Rs. 33,019 |
| HDFC Ltd | 8.10% – 9.00% p.a. | Rs. 54,835 – Rs. 57,004 | Rs. 37,920 – Rs. 40,488 | Rs. 33,334 – Rs. 36,208 |
| Axis Bank | 7.60% to 12% p.a. | Rs. 53,651 – Rs. 64,562 | Rs. 36,527 – Rs. 49,549 | Rs. 31,773 – Rs. 46,288 |
| ICICI Bank | 7.60% to 8.45% p.a. | Rs. 53,651 – Rs. 55,673 | Rs. 36,527 – Rs. 38,910 | Rs. 31,773 – Rs. 34,442 |
| Tata Capital | 7.75% p.a. onwards | Rs. 54,005 onwards | Rs. 36,943 onwards | Rs. 32,239 onwards |
| Federal Bank | 8.55% to 8.70% p.a. | Rs. 55,914 – Rs. 56,276 | Rs. 39,195 – Rs. 39,624 | Rs. 34,761 – Rs. 35,241 |
Additional Info: Also Apply Section 80CCD
The Rs. 45 Lakh home loan EMI for 10 years tenure at a 7.20% p.a. interest rate would be Rs. 52,714. The EMI on an Rs. 45 Lakhs loan for a repayment tenure of 10 years differs from lender to lender based on the rate of the interest rate charged and the borrower’s Home Loan Eligibility.
Following is the table of different EMIs on Rs. 45 Lakhs loan for different interest rates for 10 years tenure:
| Rate of Interest (p.a.) | Tenure | EMI for Rs. 45 Lakhs Loan |
|---|---|---|
| 7.20% | 10 years | Rs. 52,714 |
| 7.50% | 10 years | Rs. 53,416 |
| 8% | 10 years | Rs. 54,597 |
| 8.55% | 10 years | Rs. 55,914 |
| 12% | 10 years | Rs. 64,562 |
Also Read – LRD Loans
The EMI for 45 Lakhs home loan for 20 years repayment tenure at an 7.20% p.a. interest rate will be Rs. 35,431. The EMI varies from lender to lender based on the rate of interest offered by the bank and the borrower’s profile.
Below is the table for different EMIs on Rs. 45 Lakhs loan at the different interest rates for 20 years tenure:
Rate of Interest (p.a.)TenureEMI for Rs. 45 Lakhs Loan
| 7.20% | 20 years | Rs. 35,431 |
| 7.50% | 20 years | Rs. 36,252 |
| 8% | 20 years | Rs. 37,640 |
| 8.55% | 20 years | Rs. 39,195 |
| 12% | 20 years | Rs. 49,549 |
Tip: 50 Lakh Home Loan EMI Interest Rate 2022 before applying for a loan
EMI for 45 Lakhs home loan for 30 years will be Rs. 30,545 at an interest rate of 7.20% p.a. The EMI may change depending on the lender’s policy, the applicable interest rate and the borrower’s eligibility. You can use the Home Loan EMI Calculator available on our website for calculating the EMI for Rs. 45 Lakhs home loan for various tenures and interest rates.
Below is the table of different EMIs on Rs. 45 Lakhs loan at the different interest rates for 30 years tenure:
| Rate of Interest (p.a.) | Tenure | EMI for Rs. 45 Lakhs Loan |
|---|---|---|
| 7.20% | 30 years | Rs. 30,545 |
| 7.50% | 30 years | Rs. 31,465 |
| 8% | 30 years | Rs. 33,019 |
| 8.55% | 30 years | Rs. 34,761 |
| 12% | 30 years | Rs. 46,288 |
Additional Info: Also check HDFC Home Loan EMI Calculator
Applicants must meet the eligibility criteria mentioned below to be eligible for a home loan of Rs. 45 Lakhs:
Eligibility Criteria for Salaried
Eligibility Criteria for Self-employed
Tip: Best Home Loan for Salaried Person before applying for a loan
You need the following documents to apply for an Rs. 45 Lakhs home loan:
You can also Apply for Pan Number for All Banks
The step-by-step process to apply for a home loan of Rs. 45 Lakhs is given below:
Additional Info: Also check Home Loan Customer Care Number
Home loan interest rates are the lowest ever in the past 15 years. With raining festival offers on home loan, currently you can avail of the best interest rate on Bajaj Finserv home loan @7.70% p.a for all loan amounts.
You can avail the lowest Home Loan EMI at Rs. 727/- per lakh with maximum repayment flexibility. Some options are Step-Up EMIs, Step Down EMIs, Moratorium, OD facility, balance transfer, top up and more.
Home Loans at floating interest rate (linked to repo rate) offer you ultimate prepayment flexibility. There is no part or full prepayment charge. You can prepay early & reduce interest cost as per your cash flows.
