₹65 Lakh Home Loan EMI for 5 to 30 Years: Document Required, Calculation and Interest Rates in 2024

Using a home loan to buy a property can be the best way to manage your finances. However, it is important to understand your home loan details, EMI, interest rate, and fee to avoid any last-minute hassle. In general, most of the lenders offer interest rates of 8.35% to 12.60% on Rs 65 Lakh home loans. Generally, the interest rate for a home loan for ₹65 Lakh starts at 8.5%, and the EMI is around Rs 1,33,357 per month.

While you are budgeting for possible changes in income or spending over time, be sure the EMI falls within your monthly budget. Furthermore, early repayment or prepayment choices should be taken into consideration to lower the total interest load. To help you, we will be discussing ₹65 Lakh home loan EMI, interest rate, repayment, payment, and much more in this blog. 

₹65 Lakh Home Loan EMI Details

The time and interest rate of the house loan largely defines the EMI for 65 Lakhs home loan. You can thus expect a larger EMI for every month if the interest rate is higher. Conversely, if the interest rate is low, your EMI will be much lower. 

Another element affecting the loan itself and the EMI amount is the loan term. Usually running years, house loans have somewhat long repayment timeframes. Understanding the down payment for a 65 Lakh home loan is important to manage your finances. 

The table below shows the Rs 65 lakh loan EMI at an 8.5% fixed rate of interest, given a five-year to thirty-year payback horizon.

Tenure	EMI Amount (INR)
5 Years	₹1,33,357
10 Years	₹80,591
15 Years	₹64,008
20 Years	₹56,409
25 Years	₹52,340
30 Years	₹49,979

How to Calculate ₹65 Lakh Home Loan EMI?

Your 65-lakh house loan EMI is computed using a basic calculation. For better knowledge, the formula and computation procedure are below. 

Equated Monthly Instalments (EMI) = [P x R x (1 + R)^n]/[(1 + R)^n - 1]

Where:

• EMI stands for the monthly instalments
• P stands for the Principal Amount
• R represents the Interest Rate for each month, which is found by dividing the Annual Rate of Interest by 12 
• N denotes the Loan Duration in Months, which is found by multiplying the Loan Duration by 12

By entering the correct loan amounts into the formula and running it, you can quickly calculate the Rs 65 lakh house loan EMI. This simple computation approach is crucial for finding the ideal loan term before pledging a house loan. You can also opt for a home loan balance transfer to get a better interest rate.

₹65 Lakh Home Loan EMI Calculator

A Rs 65 Lakh Home Loan EMI calculator will enable you to analyse your finances with greater accuracy and have a better understanding of whether the loan amount and the repayment term meet your financial goals. Still, it may become difficult to use the Rs 65 lakh home loan EMI calculator. 

Here are the simple steps to calculate your 65 Lakh home loan EMI using the EMI calculator: 

• Input Loan Amount: In this case, enter Rs 65 lakhs as the amount of the loan you want to take out. 
• Enter Interest Rate: Input the interest rate that your bank has set for your loan amount. In this case, input 8.5%. 
• Enter Loan Duration: Determine for how long you want to borrow the loan amount. This can normally range from 5 to 30 years. 

The EMI calculator will then generate the following loan features to assist you in better understanding your finances.

• Monthly Instalments (EMI): The amount you will need to pay monthly for your Rs 65 lakh home loan. 
• Total Interest: This covers the entire interest amount you will have to pay until the end of your loan tenure. 

Using an EMI calculator ensures that you understand all the details of the home loan, including loan conditions, monthly payments you will have to make, and all other elements. Furthermore, the advice is that you choose between fixed and floating interest rates appropriate for your circumstances.

Eligibility Criteria for a ₹65 Lakh Home Loan

You must check your eligibility for a 65 Lakh home loan EMI before applying. Some criteria must be fulfilled before one qualifies for the loan. Verify your eligibility to apply for a property loan valued at 65 lakhs.

• Basic Age Requirement: The minimum age must be between 21 and 60 years old. 
• Credit Score: Must have at least 650 required CIBIL score for 65 Lakh home loan to be qualified for a loan successfully.  The required CIBIL score for 65 Lakh home loan can be different from one lender to another. 
• Employment Status: A continuous employment for 2-3 years is the perfect eligibility for a loan application.
• Basic Income Requirement: The annual income is to be three or four times the loan's EMI. 
• Other Liabilities: Other debts or loans like credit card loan, personal loan etc. is considered. 

Documents Required for a ₹65 Lakh Home Loan

You should be aware of all the documents needed for a 65 Lakh home loan EMI, which you will need to provide for a flawless loan application process, even if you qualify for a loan. For the 65-lakh home loan, you will so have to provide the following documentation:

• Identity Verification: You need to submit government-approved identification, such as a PAN card, Aadhaar card, Passport, or driver's licence. 
• Address Proof: To verify your residential data, you would also have to provide related paperwork. This would cover any cost, even utilities. 
• Proof of Income: You must send documents proving your income and eligibility, including pay slips or income tax returns. 
• Proof of Employment: Maintaining a regular work record and verifying employment status might call for records, including offer letters. 
• Passport Size Photo: Different paperwork will ask for passport-sized pictures. Therefore, consider always bringing a selection of your most recent photos with you. 
• Loan Application Form: You must complete and mark the loan application. Then, verify once again that every piece of the information is true. 
• Bank Statements: You also require bank records detailing your transactions and, hence, income before the loan is accepted. This will help you prove your ability to pay back the loan. 
• Property Documents: Should a specific property be addressed, you will have to produce suitable documents verifying its ownership and condition of state of affairs. This may encompass the agreements on sales. 
• Investment Proof (Optional): Any reference to investments you have made be stated, you will also have to submit paperwork verifying the same. Moreover, having assets helps to provide financial stability as well. 

₹65 Lakh Home Loan EMI for 5 Years

Using this method, the monthly instalment, or EMI, for a Rs 65 lakh house loan with a five-year payback period at an annual interest rate of 8.5% is rather simple to calculate. 

Equitable Monthly Instalments (EMI) = [P x R x (1 + R)^n]/[(1 + R)^n - 1]

For a 5-year repayment period: 

EMI =  [65,00,000 x 0.00704  x (1 + 0.00704)^60] / [(1 + 0.00704)^60 - 1]

EMI = ₹1,33,357

EMI Table for 10-Year Tenure:

Here's the breakdown of the EMI for a ₹65 lakh home loan at an interest rate of 8.5% per annum, with a tenure of 5 years:

Tenure	5 Years
Loan Amount	₹65 Lakh
Annual Interest Rate	8.5%
EMI	₹ 1,33,357
Total Interest Amount	₹ 15,01,447
Total Repayment Amount	₹ 80,01,447

Note: For simply demonstrative usage, this lesson provides computations and interest rates. Actual rates and terms might be influenced by lender policies as well as by the current status of the market. See a lender or financial advisor to get exact and customised information about your specific home loan requirements.

₹65 Lakh Home Loan EMI for 10 Years

Do you want a Rs 65 lakh home loan for 10 years with an interest rate of 8.5% annually? Here is how you can calculate your Rs 65 lakh home loan EMI for 10 years without any hassle: 

Equitable Monthly Instalments (EMI) = [P x R x (1 + R)^n]/[(1 + R)^n - 1]

For a 10-year repayment period: 

EMI = [65,00,000 x 0.0.00704 x (1 + 0.0.00704)^120] / [(1 + 0.0.00704)^120 - 1]

EMI = ₹ 80,591

EMI Table for 10 Year Tenure:

Here's the breakdown of the EMI for a ₹65 lakh home loan at an interest rate of 8.5% per annum, with a tenure of 10 years:

Tenure	10 Years
Loan Amount	₹65 Lakh
Annual Interest Rate	8.5%
EMI	₹ 80,591
Total Interest Amount	₹ 31,70,884
Total Repayment Amount	₹ 96,70,884

Note: For simply demonstrative usage, this lesson provides computations and interest rates. Actual rates and terms might be influenced by lender policies as well as by the current status of the market. See a lender or financial advisor to get exact and customised information about your specific home loan requirements.

₹65 Lakh Home Loan EMI for 15 Years

If you plan on having a Rs 65 lakh home loan for 15 years at an annual interest rate of 8.5%, you should be aware of your monthly instalments of the EMIs. Hence, here is how you can calculate the same without much inconvenience. 

Equitable Monthly Instalments (EMI) = [P x R x (1 + R)^n]/[(1 + R)^n - 1]

For a 15-year repayment period: 

EMI =  [65,00,000 x 0.0.00704 x (1 + 0.0.00704)^180] / [(1 + 0.0.00704)^180 - 1]

EMI = ₹64,008

EMI Table for 15-Year Tenure:

Here's the breakdown of the EMI for a ₹65 lakh home loan at an interest rate of 8.5% per annum, with a tenure of 15 years:

Tenure	15 Years
Loan Amount	₹65 Lakh
Annual Interest Rate	8.5%
EMI	₹64,008
Total Interest Amount	₹50,21,453
Total Repayment Amount	₹1,15,21,453

Note: For simply demonstrative usage, this lesson provides computations and interest rates. Actual rates and terms might be influenced by lender policies as well as by the current status of the market. See a lender or financial advisor to get exact and customised information about your specific home loan requirements.

₹65 Lakh Home Loan EMI for 20 Years

Ever thought of having a Rs 65 lakh home loan for 20 years at an interest rate of 8.5% per annum but were unsure how to calculate the EMIs for it? Worry not; here is how you can put the values in the formula and easily retrieve the monthly instalments.  

Equitable Monthly Instalments (EMI) = [P x R x (1 + R)^n]/[(1 + R)^n - 1]

For a 20-year repayment period: 

EMI =  [65,00,000 x 0.0.00704 x (1 + 0.0.00704)^240] / [(1 + 0.0.00704)^240 - 1]

EMI = ₹56,409

EMI Table for 20-Year Tenure:

Here's the breakdown of the EMI for a ₹65 lakh home loan at an interest rate of 8.5% per annum, with a tenure of 20 years:

Tenure	20 Years
Loan Amount	₹65 Lakh
Annual Interest Rate	8.5%
EMI	₹56,409
Total Interest Amount	₹70,38,042
Total Repayment Amount	₹1,35,38,042

Note: For simply demonstrative usage, this lesson provides computations and interest rates. Actual rates and terms might be influenced by lender policies as well as by the current status of the market. See a lender or financial advisor to get exact and customised information about your specific home loan requirements.

₹65 Lakh Home Loan EMI for 25 Years

If you wish to have a Rs 65 lakh home loan for 25 years at the rate of interest of 8.5% per annum, you should know how to calculate your EMI to get an idea about your monthly liabilities. Hence, here is how to use the formula to get a Rs 65 lakh home loan EMI for 25 years.

Equitable Monthly Instalments (EMI) = [P x R x (1 + R)^n]/[(1 + R)^n - 1]

For a 25-year repayment period: 

EMI =  [65,00,000 x 0.0.00704 x (1 + 0.0.00704)^300] / [(1 + 0.0.00704)^300 - 1]

EMI = ₹52,340

EMI Table for 25 Year Tenure:

Here's the breakdown of the EMI for a ₹65 lakh home loan at an interest rate of 8.5% per annum, with a tenure of 25 years:

Tenure	25 Years
Loan Amount	₹65 Lakh
Annual Interest Rate	8.5%
EMI	₹52,340
Total Interest Amount	₹92,01,928
Total Repayment Amount	₹1,57,01,928

Note: For simply demonstrative usage, this lesson provides computations and interest rates. Actual rates and terms might be influenced by lender policies as well as by the current status of the market. See a lender or financial advisor to get exact and customised information about your specific home loan requirements.

₹65 Lakh Home Loan EMI for 30 Years

For a Rs 65 lakh home loan for 30 years at an interest rate of 8.5%, you will need to calculate the monthly instalments for a better financial understanding. Hence, to become aware of the EMIs you will be paying over 30 years for this loan, you will have to use the following calculation procedure.  

Equitable Monthly Instalments (EMI) = [P x R x (1 + R)^n]/[(1 + R)^n - 1]

For a 30-year repayment period: 

EMI = [65,00,000 x 0.0.00704 x (1 + 0.0.00704) ^360] / [(1 + 0.0.00704) ^360 - 1]

EMI = ₹49,979

EMI Table for 30 Year Tenure:

Here's the breakdown of the EMI for a ₹65 lakh home loan at an interest rate of 8.5% per annum, with a tenure of 30 years:

Tenure	30 Years
Loan Amount	65 Lakh
Annual Interest Rate	8.5%
EMI	₹49,979
Total Interest Amount	₹1,14,92,576
Total Repayment Amount	₹1,79,92,576

Note: For simply demonstrative usage, this lesson provides computations and interest rates. Actual rates and terms might be influenced by lender policies as well as by the current status of the market. See a lender or financial advisor to get exact and customised information about your specific home loan requirements.

Things to Keep in Mind While Applying for a ₹65 Lakh Home Loan

Before looking for a Rs 65 lakh home loan, you should be aware of the impact of loan tenure on a 65 Lakh home loan EMI that might affect your loan. Hence, these are the key elements to keep in mind throughout a Rs 65 lakh housing loan application:

• One will require records before the loan amount may be accepted. These would include KYC documents, property papers, and proof of income. 
• Calculate your instalments—or EMI—based on the loan duration and interest rate. Any property in development is also relevant to the pre-EMI. 
• Choose whether you would like to start with the property or the loan first. Therefore, following pre-approval of the house loan, you should choose your property for a more reasonably priced one. 
• You have many choices. These include fixed-rate, floating-rate, and combo loans. 
• Reviewing your qualifying criteria will enable you to make some quite important judgments and know the current home loan interest rates. Before loan acceptance, important elements under discussion are your age, income, and financial stability. 

Do's and Don'ts for a Successful ₹6 Lakh Home Loan Application

Do's	Don'ts
Recheck if you can afford to pay back the loan amount with your current income.	Forget to read the terms and conditions before committing to the loan.
Make sure that you have a good credit score. It would help if you had a minimum score of 650 or above to get a home loan.	Going for a longer tenure means thinking it will provide lower EMIs when, in reality, the repayment is higher.
Research properly and compare different lenders before picking one	Do not borrow an amount that will be too much of a burden to repay for you.
Also, consider taking mortgage insurance.	Pay attention to the current home loan interest rates.
Consult a financial advisor before committing fully to the loan.	Take insurance for your property.

Get Hassle-Free Home Loans with NoBroker!

These days, it might be challenging to choose the suitable home loan with the finest terms and interest rates and the ideal Tenure. You will also have to manage paperwork, review the small print, and make sure it fits your financial goals. From completing the application to receiving the loan amount, NoBroker offers a perfect experience. Our services provide transparency and clarity from the beginning, therefore assuring that your complete loan process is hassle-free. Thus, if you would like to take out a 65 lakh home loan EMI, NoBroker is here to advise you and help you continue with it. 

Disclaimer: This guide's interest rates and calculations are for illustrative purposes only. Actual rates and terms may differ based on the lender's policies and current market conditions. It is advisable to consult with a financial advisor or lender to obtain accurate and personalised information regarding your specific home loan requirements.

Frequently Asked Questions 

Q1: How do I qualify for a home loan?

Ans: Eligibility usually comes from elements such as income, credit score, job stability, age, and current debt. Lenders might demand a minimum pay and an excellent credit score—typically 750 or above.

Q2: Which documentation does applying for a house loan require?

Ans: Common documentation includes evidence of identification (Aadhaar, PAN), residence proof, income proof (salary slips, bank statements), property documentation, and a finalised loan application form.

Q3: Could I pay my house loan early on?

Ans: Most lenders do, indeed, enable house loan prepayment. Still, look for any prepayment penalties that could be relevant. Paying might assist to lower the loan term and cut the overall interest paid.

Q4: What happens if I miss an EMI payment?

Ans: Ignoring an EMI might result in fines and damage your credit score. If you detect any payment problems, you should definitely talk to your lender to investigate possible fixes.

Q5: What is a CIBIL score?

Ans: Comprising three numbers, a CIBIL score—also referred to as a credit score—showcases your credit history and rating. Usually between 300 and 900, a good CIBIL score also improves your loan application chances.