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50 Lakh Home Loan

Transform your dreams into reality with Axis Bank

Enhance your lifestyle with a Rs 50 lakh Home Loan

Embark on a path towards financial growth and enhanced quality of life with a Rs 50 lakh Home Loan solution from Axis Bank. This versatile loan offering enables you to acquire spacious residences, explore second property options, or undertake strategic home improvement projects. In addition to a smooth loan processing and quick approval process, we also offer comprehensive guidance and personalised support at every step.

50 Lakh Home Loan EMI for 10 Years

With the following details, let us calculate EMI for a 50 lakh home loan for 10 years.

Loan Amount (₹)50,00,000
Tenure (years)10
Interest Rate (p.a.) 8.75% - 9.15%

Note: Considering 8.75% home loan interest for 50 lakh in the below scenarios.

50 Lakh Home Loan EMI for 10 Years

Home loan EMI for 50 lakh will be:

Equated Monthly Instalments (EMI in ₹)62,663
Principal Amount (₹)50,00,000
Interest Amount (₹) 25,19,605
Total Amount Payable (₹) 75,19,605

50 Lakh Home Loan EMI for 15 Years

EMI for 50 lakhs home loan for 15 years can be as follows:

Equated Monthly Instalments (EMI in ₹)49,972
Principal Amount (₹)50,00,000
Interest Amount (₹) 39,95,038
Total Amount Payable (₹)89,95,038

50 Lakh Home Loan EMI for 20 Years

The breakup of EMI for 50 lakhs home loan for 20 years will be:

Equated Monthly Instalments (EMI in ₹)44,186
Principal Amount (₹)50,00,000
Interest Amount (₹) 56,04,529
Total Amount Payable (₹)1,06,04,529

50 Lakh Home Loan EMI for 25 Years

If you plan to apply for a home loan of 50 lakhs, the monthly EMI for 50 lakh home loan shall be:

Equated Monthly Instalments (EMI in ₹)41,107
Principal Amount (₹)50,00,000
Interest Amount (₹) 73,32,155
Total Amount Payable (₹)1,23,32,155


You can also calculate 50 lakh home loan EMI for 30 years and 50 lakh home loan EMI for 5 years using Axis Bank Home Loan EMI Calculator.



Here's how our quick and easy online application process for a Home Loan for Rs 50 lakh from Axis Bank works:

  • Check your eligibility first. Use their handy Home Loan Eligibility Calculator to see if you can manage the monthly payments
  • Head over to the Axis Bank Home Loan website and click the "Apply Now" button
  • Fill out your details and hit Submit. First mention if you're an existing customer or not, and provide your name, phone number, email, city, and state
  • An Axis Bank rep will give you a call to discuss your loan options
  • Get all your documents together
  • Once you're approved, submit your property documents for verification
  • As long as you have all the documents they need, you could be approved in as little as 150 days

 

  • For salaried individuals (permanent government employees or those employed in reputable private companies), the minimum age requirement at the time of application is 21, with a maturity age of 65 or at the time of superannuation.
  • Professionals and self-employed individuals falling within the income-tax bracket can avail themselves of a Rs 50 lakh Home Loan, with an age limit of 21 at the time of application and 65 at loan maturity.
  • When assessing Home Loan applications, the bank considers factors such as annual income, number of dependents, employment status, existing assets, ongoing loan repayments, and credit score. The bank ensures that the EMI for the Rs 50 lakh Home Loan remains affordable, with the condition that the combined EMIs of all loans do not exceed 40% of your take-home pay.

 

  • For Home Loans a non-refundable processing fee of roughly 0.1% of the principal amount is charged. GST as applicable will be charged.


Documents required for ₹50 Lakh Home Loan

  • Mandatory Documents- Application Form and PAN Card
  • Any one of the following for Identity Proof - Passport, Aadhaar Card, Driving License, Voter ID
  • Any one of the following for Proof of Address- Aadhdaar Card, Gas Bill, Driving License, Voter Id, Electricity Bill, Telephone Bill (Landline) Property Tax Receipt, Job Card by NREGA duly signed by an officer of the State Government, Letter issued by National Population Register confirming details of Name, Address, Photograph
  • Any one of the following for Date of Birth proof - Passport, PAN Card, Aadhaar Card with DOB, Driving License, Birth Certificate, SSC Marksheet
  • Any one of the following for Signature Proof - Passport, PAN Card, Banker’s verification, Notarized affidavit with ID and Address proof (not applicable for financial applicant)


Additional Documents for Salaried Individuals for Rs 50 lakh Home Loan
Any one of the following for proof of income

  • 3 months pay slip
  • 6 months pay slip showing all deduction for variable income
  • 6 months bank statement showing salary credits
  • 2 years Form 16 (or employment continuity proof)

For NRI salaried

  • 3 months pay slip
  • Appointment letter/contract letter
  • Continuous Discharge Certificate for Shipping cases
  • 6 month Domestic NRE/NRO A/C statement
  • 6 months international Salary A/C statement
  • Overseas credit report
  • Valid visa copy/OCI card
  • Passport copy
  • POA details

Additional Documents for Self-employed Individuals for Rs 50 lakh Home Loan

  • 2 years ITR, Computation of Income, P&L, Balance sheet with CA seal and sign
  • For Asha Home Loan - 1 year ITR, Computation of Income, P&L, Balance sheet with CA seal and sign
  • Tax Audit Report (required for individuals whose sales turnover exceed the norms stipulated by the Income Tax Act)
  • 6 months bank statements of personal and business accounts
  • If ITR is filed without digital sign - CPC and tax paid challan
  • Three years business continuity proof

Factors that affect interest rate applicable on a ₹50 lakh Home Loan

  • RBI’s repo rates – Since Home Loan rates are linked to the RBI’s repo rates, any change in the RBI’s rates will impact the Home Loan interest rate
  • Type of loan chosen – Whether it is a Floating Rate Home Loan or a Fixed Rate Home Loan will impact the interest rate. The interest rate on a Fixed Rate Home Loan is higher than a Floating Rate Home Loan
  • Your job profile and credit score also impact the interest rate. A borrower with a stable job and high credit score may get a Home Loan of Rs 40 lakh at a better rate of interest


Frequently Asked Questions

A credit score exceeding 750 is considered beneficial and enhances the chances of loan approval.

No, documentation is mandatory, including KYC, income proof, and property along with stamp duty documents for the house you are intending to purchase.

Ideally, your income should be 3-4 times the loan amount to ensure the manageability of the Rs 50 lakh Home Loan EMI without causing undue financial strain.



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