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₹50 Lakh Home Loan EMI - Eligibility, Interest Rates & Documentation
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Planning for a ₹50 lakh home loan EMI? Secure your dream home with confidence. Kotak Mahindra Bank offers competitive home loan interest rates and flexible repayment terms to cater to your needs.
With our EMI calculator, plan your monthly cash outflow and balance your finances efficiently for ₹50 lakh home loan. This tool offers a clear perspective, ensuring you're well-prepared for your housing journey.
Resources to get the best out of your Home Loan and manage your finances prudently
EXPLORE NOWIf you are looking at 50 lakh loan EMIs with Kotak Mahindra Bank, you can get the latest housing loan rate of interest with customisable repayment tenures. Whether it’s a 50 lakh home loan EMI for 10 years or considering longer tenures such as 50 lakh home loan EMI for 25 years, we've got you covered.
| Criteria | Self-employed Applicants | Salaried Applicants |
|---|---|---|
Age |
Applicants should be between 18-65 years old |
Applicants should be between 18 and 60 years old |
Citizenship |
Indian |
Indian |
Income |
Minimum Income of Rs 20,000 per month for residents of Delhi, Mumbai, Bangalore, Pune, and Chennai.
Minimum Income of Rs. 15,000 per month for the residents of other cities. |
Minimum Income of Rs 20,000 per month for Delhi, Mumbai, Bangalore, Pune, and Chennai residents.
Minimum Income of Rs 15,000 per month for the residents of other cities. |
Work Experience/ Continuity |
A minimum 3 years in business, practice, or profession. |
2 years of work experience and at least 6 months in the current organisation. |
For procuring home loans for 50 lakh, you need to provide various documents related to the property, finances, occupancy, identity, and address. These documents include:
Simplified steps to secure your home loan of 50 lakhs:
For a ₹50 lakh housing loan spanned over 10 years, the EMI would be influenced by the interest rate. With our rate of 8.70% p.a., you can use our table below for precise figures.
| Loan Amount | ₹50,00,000 |
|---|---|
Rate of Interest |
8.70%* p.a. |
EMI |
₹62,528 |
Total Interest |
₹25,03,474 |
Total Repayable Amount |
₹75,03,474 |
*T&C Apply
Considering a longer tenure like a 50 lakh home loan EMI for 20 years? The monthly instalments would be comparatively lower, making it more manageable.
| Loan Amount | ₹50,00,000 |
|---|---|
Rate of Interest |
8.70%*p.a. |
EMI |
₹44,026 |
Total Interest |
₹55,66,275 |
Total Repayable Amount |
₹1,05,66,275 |
*T&C Apply
Are you contemplating a 25 year tenure for a Rs. 50 lakh home loan? Opting for this duration can lead to more affordable monthly installments, enhancing your financial management.
| Loan Amount | ₹50,00,000 |
|---|---|
Rate of Interest |
8.70%* p.a. |
EMI |
₹40,937 |
Total Interest |
₹72,81,240 |
Total Repayable Amount |
₹1,22,81,240 |
*T&C Apply
An ideal tenure balances manageable EMIs with total interest paid. While shorter tenures increase the EMI, they reduce total interest. Longer tenures, like 50 lakh home loan EMI can offer lower EMIs but with higher total interest.
Absolutely! Kotak offers competitive interest rates and benefits, making the transfer of your 50 lakh home loan a worthwhile consideration.
While a good credit score enhances loan approval chances, Kotak assesses various factors, including income and repayment capacity. It's always worth discussing with our team.
Home loans typically require the property in question as collateral. However, our team is on hand to discuss the specifics and guide you through the process.
You can pay off any existing balance of Home Loan using Kotak’s Home Loan Balance Transfer at a lower rate of interest.
If you are an NRI and are looking for a Home Loan, Kotak provides you just that. Check out our NRI Home Loans section.
If you are looking for renovating your home, you can do so by taking Kotak’s Home Improvement Loans
To encourage women home buyers, Kotak Mahindra Bank offers affordable housing loans for women.
