The EMI on a ₹45 lakh home loan is ₹35,977 a month over 20 years at 7.40% p.a., the lowest starting rate among large banks in October 2026 (Bank of Baroda, Canara Bank, Union Bank of India). Over 30 years it falls to ₹31,157; at 8.50%, a typical rate for a lower credit score, the 20-year EMI is ₹39,052.
₹45 lakh home loan EMI by tenure and rate
| Tenure | 7.40% | 8.00% | 8.50% | 9.00% | 9.50% |
|---|---|---|---|---|---|
| 5 years | ₹89,957 | ₹91,244 | ₹92,324 | ₹93,413 | ₹94,508 |
| 10 years | ₹53,181 | ₹54,597 | ₹55,794 | ₹57,004 | ₹58,229 |
| 15 years | ₹41,460 | ₹43,004 | ₹44,313 | ₹45,642 | ₹46,990 |
| 20 years | ₹35,977 | ₹37,640 | ₹39,052 | ₹40,488 | ₹41,946 |
| 25 years | ₹32,962 | ₹34,732 | ₹36,235 | ₹37,764 | ₹39,316 |
| 30 years | ₹31,157 | ₹33,019 | ₹34,601 | ₹36,208 | ₹37,838 |
Monthly EMI on ₹45 lakh, reducing-balance method. Each column is a fixed annual rate for the full tenure.
₹45 lakh home loan EMI at each bank
| Bank | Starting rate | EMI, 20 years | Total interest, 20 years |
|---|---|---|---|
| Bank of Baroda | 7.40% | ₹35,977 | ₹41,34,488 |
| Canara Bank | 7.40% | ₹35,977 | ₹41,34,488 |
| Union Bank of India | 7.40% | ₹35,977 | ₹41,34,488 |
| Central Bank of India | 7.45% | ₹36,114 | ₹41,67,417 |
| Punjab National Bank | 7.45% | ₹36,114 | ₹41,67,417 |
| State Bank of India | 7.50% | ₹36,252 | ₹42,00,406 |
| Kotak Mahindra Bank | 7.60% | ₹36,527 | ₹42,66,564 |
| Axis Bank | 8.00% | ₹37,640 | ₹45,33,553 |
| HDFC Bank | 8.00% | ₹37,640 | ₹45,33,553 |
| ICICI Bank | 8.75% | ₹39,767 | ₹50,44,076 |
Starting rates from each bank's official rate page, checked 26 October 2026. Starting rates go to borrowers with high credit scores; your offer depends on CIBIL score, income type and loan amount. The RBI raised the repo rate to 5.50% on 7 October 2026.
Property value and down payment for a ₹45 lakh loan
RBI rules cap a housing loan above ₹30 lakh and up to ₹75 lakh at 80% of the property value. To borrow ₹45 lakh, the property must be worth at least ₹56,25,000, so the down payment is at least ₹11,25,000. Stamp duty and registration are extra and are not funded by the loan.
Salary needed for a ₹45 lakh home loan
| Tenure | EMI at 7.40% | Net monthly income if EMI is 50% of income | If EMI is 60% of income |
|---|---|---|---|
| 15 years | ₹41,460 | ₹82,920 | ₹69,100 |
| 20 years | ₹35,977 | ₹71,954 | ₹59,962 |
| 25 years | ₹32,962 | ₹65,925 | ₹54,937 |
| 30 years | ₹31,157 | ₹62,314 | ₹51,928 |
Lenders usually keep all EMIs, including this one, within 50–60% of net monthly income for salaried borrowers; existing EMIs reduce the amount you qualify for.
Total cost of a ₹45 lakh home loan
| Tenure | EMI | Total interest | Total repaid |
|---|---|---|---|
| 10 years | ₹53,181 | ₹18,81,747 | ₹63,81,747 |
| 15 years | ₹41,460 | ₹29,62,845 | ₹74,62,845 |
| 20 years | ₹35,977 | ₹41,34,488 | ₹86,34,488 |
| 25 years | ₹32,962 | ₹53,88,735 | ₹98,88,735 |
| 30 years | ₹31,157 | ₹67,16,553 | ₹1,12,16,553 |
Paying an extra 5% of the loan (₹2,25,000) once a year on a 20-year loan at 7.40% saves ₹22,29,742 in interest and ends the loan 120 months early. Floating-rate home loans to individuals carry no prepayment penalty.
Tax benefit on a ₹45 lakh home loan
In year 1 at 7.40% over 20 years you pay about ₹3,29,582 as interest and ₹1,02,143 as principal. Under the old tax regime, interest on a self-occupied home is deductible up to ₹2 lakh a year and principal repayment up to ₹1.5 lakh a year (Sections 24(b) and 80C of the Income-tax Act, 1961; the same limits continue under the Income-tax Act, 2025 from tax year 2026-27). The new tax regime does not allow these deductions for a self-occupied home.
Work out your own figure with the home loan EMI calculator or the prepayment calculator, and compare offers on the home loan interest rates page.
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