15 Lakh Home Loan EMI Calculator: Are you taking a home loan of Rs 15 lakh from any bank, then here we will know how we can calculate the EMI of home loan of Rs 15 lakh. You can easily calculate your home loan EMI online.
15 lakh home loan emi calculator
The full form of EMI is Equated Monthly Installment. When you repay your loan, you do it through EMI. You should calculate your loan EMI before applying for a home loan so that you do not face any kind of hassle later on.
Home loan EMI depends on three factors which are as follows: loan amount, interest rate and loan tenure.
The loan amount, interest rate and loan tenure differ from bank to bank. You can get information about home loan interest rates of all banks by clicking here.
in different bank 15 lakh home loan The EMI can vary but in this article, we will calculate the EMI based on some interest rate and loan tenure, so that you will get an idea of how to calculate the EMI of the loan.
15 lakh home loan interest rate
Here is a list of some popular banks along with their home loan interest rates that will help you calculate the EMI:
| Bank | Interest rate (starting annually) |
|---|---|
| SBI Bank | 8.55% |
| HDFC Bank | 8.60% |
| LIC Housing Finance | 8.30% |
| Navi Bank | 7.89% |
| Kotak Bank | 8.30% |
| IDFC FIRST Bank | 8.75% |
| Union Bank of India | 8.25% |
| Yes Bank | 8.95% |
You will find online home loan EMI calculator on the official website of all banks, but in this article, we will tell you how to calculate EMI of 15 lakh home loan of two major banks of India, SBI Bank and HDFC Bank.
With this you will learn how to calculate home loan EMI. The process of calculating home loan EMI is the same across all banks.
Follow the steps given below to calculate 15 lakh home loan EMI:
15 lakh home loan EMI SBI Bank
At present, the SBI Bank home loan interest rate starts from 8.55% per annum. Follow the steps given below to calculate EMI:
- First of all, you have to visit the official website of SBI Bank at homeloans.sbi.
- After visiting the website, you will have to come to the section of home loan calculator.
- This calculator will look something like this to you:
- In this calculator you have to select your loan amount, loan tenure and interest rate.
- As soon as you select all these options, the EMI of your loan will appear in front of you.
15 lakh home loan EMI HDFC Bank
Currently, HDFC home loan interest rate starts from 8.60% per annum. You can calculate your loan EMI by following the steps given below:
- First of all, you have to visit the official website of HDFC Bank, hdfc.com.
- After visiting the website, you need to go to the home loan calculator section.
- This is how the HDFC Bank calculator will appear to you:
- In this calculator, you can calculate the loan by selecting the loan amount, loan tenure and loan interest rate.
15 lakh home loan EMI under different scenarios
If the home loan interest rate is 9% per annum:
Suppose you take a home loan of Rs 15 lakh from a bank at 9% interest rate, then the EMI of your loan over various loan tenures will be as follows:
| loan tenure | EMI |
|---|---|
| 3 years | Rs 47,700 |
| 5 year | Rs 31,138 |
| 7 years | Rs 24,134 |
| 10 years | Rs 19,001 |
| 15 years | Rs 15,214 |
| 20 years | Rs 13,496 |
| 25 years | Rs 12,588 |
| 30 years | Rs 12,069 |
If the loan interest rate is 8.30% per annum:
Suppose you take a home loan of Rs 15 lakh from a bank at an interest rate of 8.30% per annum, then the EMI of the loan will be as follows:
| loan tenure | EMI |
|---|---|
| 3 years | Rs 47,212 |
| 5 year | Rs 30,630 |
| 7 years | Rs 23,604 |
| 10 years | Rs 18,438 |
| 15 years | Rs 14,596 |
| 20 years | Rs 12,828 |
| 25 years | Rs 11,877 |
| 30 years | Rs 11,322 |
if you 15 lakh home loan emi calculator If you are facing any kind of problem in calculating then you can ask us in the comment section.
FAQs:
If you take a loan of 20 years at the rate of 8.30% per annum, then the EMI of your loan will be Rs 11,877.
Yes, you can go to any bank and take a home loan up to Rs.15 lakh.