5 Crore Home Loan EMI

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5 Crore Home Loan EMI

Get Rs 5 Crore home loan is a big amount. You will not only need to check your eligibility but also the Rs 5 crore home loan EMI that you can comfortably pay in 10, 20 or 30 yrs. The EMI for a Rs 5 Crore home loan at 8.50% p.a for 30 yrs is Rs. 3,79,154.

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Updated: 31-05-2024 12:46:02 PM

Rs 5 crore Home Loan EMI Details

Paying your Home Loan EMI is the first thing that you pay once your salary gets credited. It is very important to take into account the magnitude of your home loan EMI beforehand taking a loan of big amount as Rs 5 crore.

Following are the details of Rs 5 crore home loan EMI for 5 years, 10 years, 15 years, 20 years and 30 years tenure at a 8.50% p.a. interest rate:

EMI for a tenure of 5 years Rs. 10,23,418
EMI for a tenure of 10 years Rs. 6,17,258
EMI for a tenure of 15 years Rs. 4,89,443
EMI for a tenure of 20 years Rs. 4,30,752
EMI for a tenure of 30 years Rs. 3,80,919

Rs. 5 Crore Home Loan EMI with Different Banks Interest Rates - 2024

There are many banks, non-banking financial companies (NBFCs) and other financial institutions that offer Rs. 5 Crore Home Loan at different interest rates. Following are the interest rates of top ten banks and NBFCs for a Home Loan of Rs. 5 Crore. The EMI is calculated for a tenure of 30 years for different interest rates within the slab stipulated for each bank:

Banks Best Home Loan Interest Rates EMI (in Rs.)
HDFC 8.75% – 9.65% 3,79,154
HSBC Bank 8.45% 3,82,686
Kotak Mahindra Bank 8.70% 3,91,566
IDFC Bank 8.75% 3,93,350
PNB Housing Finance 8.50% 3,84,457
Federal Bank 8.80% 3,95,137
Bajaj Finserv 8.50% – 15.00% 3,84,457
L&T Housing Finance 8.65% 3,88,006
State Bank of India 8.50% – 10.05% 3,80,919
Tata Capital 8.70% 3,88,006
Central Bank of India 8.50% – 9.50% 3,86,230

Rs. 5 Crore Home Loan EMI for 10 Years

The Rs. 5 Crore home loan EMI for 10 years tenure at an interest rate of 8.50% p.a. would come to Rs. 6,17,258 The EMI on a loan of Rs. 5 Crore for a tenure of 10 years varies from lender to lender depending on their rate of interest and borrower’s eligibility.

Loan Amount Rs. 5,00,00000
Rate of Interest 8.50%
Loan Tenure 10 years
Loan EMI Rs. 6,17,258
Total Interest  Rs. 2,40,70,901
Total Repayment Rs. 7,40,70,901

EMI for Rs 5 Crores Home Loan for 20 Years

The EMI for 5 Crore home loan for 20 years tenure at an interest rate of 8.50% p.a. would come to Rs. 4,30,752. The EMI on a loan of Rs. 5 Crore for a tenure of 20 years varies from lender to lender depending on the interest rate offered by the lender and the borrower’s eligibility.

Loan Amount Rs. 5,00,00000
Rate of Interest 8.50%
Loan Tenure 20 years
Loan EMI Rs. 4,30,752
Total Interest  Rs. 5,33,80,539
Total Repayment Rs. 10,33,80,539

5 crores Home Loan EMI for 30 Years

EMI for Rs. 5 Crore home loan for 30 years of tenure will be Rs. 3,80,919 at an interest rate of 8.50% p.a. There can be a change in the EMI on an Rs. 5 Crore loan amount for a tenure of 20 depending on the lender, interest rate offered by the lender and the eligibility of the borrower. You can use Rs. 5 Crore home loan EMI calculator available on our website to calculate the EMI for Rs. 5 Crore home loan for various tenures and interest rates.

Loan Amount Rs. 5,00,00000
Rate of Interest 8.50%
Loan Tenure 30 years
Loan EMI Rs. 3,80,919
Total Interest  Rs. 8,71,30,779
Total Repayment Rs. 13,71,30,779

Factors affecting your Rs 5 crore home loan EMI

The factors that affect Rs. 5 Crore home loan EMI are:

  • Income: Individuals employed in Central/State Government organisations and Public Sector Organisations have guaranteed income. The interest rates for loans to these individuals will be comparatively lower, and the cost of the loan will also be lower.
  • Interest type: If you have chosen a fixed interest rate, then the rate of interest will be 1 to 2% higher than the floating interest rate. As per current trend it is advisable to go for a fixed interest rate initially for 3 yrs and then switch to floating rate of interest.
  • LTV Ratio: The rate of interest charged depends on the LTV Ratio. Banks normally provide 80% of the market value of the property as a home loan. The higher the margin, the lower will be the interest rate as the risk associated will be lower for the lender. With a better interest rate, the EMI will also be lower.
  • Tenure: A longer tenure will lead to a higher EMI and vice versa.

Eligibility for Rs 5 crore Home Loan

You have to meet the following Home Loan Eligibility Criteria to be eligible to avail of a home loan of Rs. 5 Crores:

Eligibility for Salaried Applicants

  • Applicants should be Indian residents.
  • Applicants should be aged between 18 to 65 years.
  • Applicants should have at least 3 years of work experience.
  • Applicants should be earning a monthly income of at least Rs 3,20,000.

Eligibility for Self-employed Applicants

  • Applicants should be Indian residents.
  • Applicants should be aged between 18 to 65 years.
  • Applicants should have a profitable business for at least the last 5 years.

Documents Required for Rs 5 crore Home Loan

You will have to submit the following documents to apply for Rs 5 crore home loan:

  • Duly filled and signed home loan application form.
  • Recent passport-sized photographs of the applicant.
  • Identity proof like Pan Card, Aadhaar Card, Passport, Driving License, Voter ID, etc.
  • Address proof like Aadhaar Card, Passport, Driving License, Voter ID, etc.
  • Age proof like Birth Certificate, Class 10th Certificate, etc.
  • Bank statements of the last 6 months.
  • Processing fee cheque.
  • Form 16 or Income Tax Return.
  • CA certified Balance Sheet and Profit & Loss Statement of last 3 years for self-employed applicants.
  • Business profile of self-employed applicants.

How to Apply Up to Rs 5 crore Home Loan?

The step-by-step process to apply for a home loan of Rs 5 crores is given below:

  • Visit our website and click on the ‘Home Loan’ that is mentioned under the ‘Loans’ section.
  • Fill out the online application accurately by entering all the details as required.
  • Enter the ‘OTP’ received on your registered mobile number.
  • Then click on the ‘Submit’ button to view the best home loan offer quotes.
  • Home loan offers from our partner lenders will be displayed on your screen according to the information entered by you.
  • Choose the lender preferred by you and apply online.
  • Our home loan experts will connect with you soon regarding the completion of your home loan process.
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Rs. 5 crore Home Loan EMI FAQs

Any home loan gets approved for the amount which is 60 times the amount that is free from any liabilities in your salary. For example if your salary is Rs 1 lakh and you pay EMIs of Rs 15000 then the workable amount will be Rs 85000 for which you will be granted a loan. Similarly in order to avail a home loan of Rs 5 crores your salary must be between Rs 7 to 10 lakhs per month so that you can pay the EMI on your home loan comfortably.

Bajaj Finserv is offering home loans at an annual interest rate of 8.35% – 10.50%

Bajaj Finserv is offering home loans at an annual interest rate of 8.50% – 15.00%

You can get upto 60 times your workable salary. By workable salary, we mean the amount which is left after all the EMI and bills deduction from your take home salary. If we assume it to be Rs 150000 then you can get a home loan of around Rs 70 lakhs to Rs 80 lakhs depending on your credit worthiness.