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Home Loan Up to ₹ 50 Lakh

Apply Online for ₹ 50 Lakh Home Loan

Last Updated 26th Sep 2021

Rates6.50% p.a Check Best Offers
  • Self-employed
  • Professionals
  • Salaried employees in government and corporate sectors
Minimum Income
  • ₹ 25,000 for salaried employees
  • ₹ 40,000 for self-employed
Age18 years to 70 years
Processing Fees ChargesNIl to up to 0.5%
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Cashback

Get Home Loan up to ₹ 50 Lakh

A home loan up to ₹ 50 Lakh is a secured loan that helps you purchase, renovate or improve a residential flat, land and a constructed house. You can get a housing loan for a maximum tenure of 30 years at upto 85% of the property's value. Banks and NBFCs offer home loans at the lowest rate, starting at 6.50%. If you wish to avail home loan up to ₹ 50 Lakh, you can use the MyLoanCare home loan EMI calculator to know the EMI you will have to pay.

Eligibility Criteria for Home Loan of ₹ 50 Lakh

To avail of a home loan of ₹ 50 Lakh, you need to fulfil the eligibility criteria as mentioned below:

  • Age: You can avail of a home loan of ₹50 Lakh if you have a minimum and maximum age of 18 years and 70 years. However, few banks may have different age criteria to provide a home loan without any rejection.
  • Income: Your home loan application will easily get approved if you are a salaried individual or professional and earn a minimum of ₹ 25,000 monthly. To avail of a home loan, self-employed should have a gross annual income of upto ₹ 4,80,000 annually.
  • Credit Score: Banks require you to have a credit score of 650 or above to apply for a ₹ 50 lakh home loan. With the desired credit score of 650 and above, you can easily avail of a home loan at an affordable interest rate.
  • Loan to value ratio (LTV): The maximum loan to value of the property or LTV specified by the RBI for loans above ₹ 30 Lakh and upto ₹ 75 Lakh is 80%. You can thus avail upto 80% of the property's value for a ₹50 Lakh home loan.
  • Employment History: To avail of a home loan upto ₹50 Lakh, you should have an Income history and job continuity of 3 years and more required (except for some professionals).

Interest Rates for ₹50 Lakh Home Loan

Bank NameInterest Rates
Kotak Bank
Axis Bank
Karur Vysya Bank
Standard Chartered Bank
RBL Bank
Yes Bank

EMI for a Home Loan of Up to ₹50 Lakh with Different Tenors

To calculate the EMI for a ₹ 50 Lakh home loan, you can use MyLoanCare's EMI calculator. It is an online calculator that helps you calculate the EMI online using mathematical algorithms to enter basic information such as loan amount, interest rate and tenure. For example, the tables below presents the EMI for an amount of ₹ 50 lakh for different tenures at the lowest home loan rate of 6.50%.

₹ 50 lakh Home Loan EMI For 5 years

Loan Amount₹ 50 lakh loan emi for 5 years
₹ 5000000₹ 97,831

₹ 50 lakh Home Loan EMI For 10 years

Loan Amount₹ 50 lakh loan emi for 10 years
₹ 5000000₹ 56,774

₹ 50 lakh Home Loan EMI For 15 years

Loan Amount₹ 50 lakh loan emi for 15 years
₹ 5000000₹ 43,555

₹ 50 lakh Home Loan EMI For 20 years

Loan Amount₹ 50 lakh loan emi for 20 years
₹ 5000000₹ 37,279

Home Loan EMI Calculation for Loan Amount Lower Than ₹ 50 Lakh

If you have availed a home loan for a tenure of 10 years at the lowest rates starting at 6.50%, then the EMI for loan changes in the proportion of a change in principal amount of loan less than ₹ 50 Lakh. Consider this table for a better understanding.

Loan Amount10 years Tenure EMI
₹ 49 Lakh ₹ 36,533
₹ 48 Lakh ₹ 35,788
₹ 47 Lakh ₹ 35,042
₹ 46 Lakh ₹ 34,296
₹ 45 Lakh ₹ 33,551
₹ 44 Lakh ₹ 32,805
₹ 43 Lakh ₹ 32,060
₹ 42 Lakh ₹ 31,314
₹ 41 Lakh ₹ 30,568

Documents Required to Get Home Loan Up to ₹50 Lakh

You need to submit the following documents to get a home loan for up to ₹50 Lakh:-

  • Application form with passport size photographs
  • Identity proof- PAN Card and Aadhar card (mandatory)
  • Address proof- Passport, Aadhaar card, voter ID card, landline bill, registered rent agreement, driving license, bank statement or passbook or utility bill
  • Property documents- Registered Sale Deed/ Conveyance/ Lease Deed, Builder buyer agreement, receipts of payment made, allotment letter, House tax return


  • Income proof- Last three years Form 16, last six months salary slip, last six months bank account statement


  • Income proof- Last three years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA
  • Business proof- Certificate and Proof of Business Existence and Business Profile

Steps to Apply for Home Loan Up to ₹50 Lakh

You can apply for a home loan up to ₹50 Lakh online or offline through the bank or a marketplace like MyLoanCare. If you apply for a home loan with MyLoanCare online, you can get the best offers from top banks and NBFCs in one place. Here is a step-by-step procedure to avail of a loan.

  • Step 1: Visit the official website of MyLoanCare.
  • Step 2: Go to the Home Loans option or fill the above form.
  • Step 3: Fill in the form with necessary details like name, pin code, phone number, loan amount.
  • Step 4: Click on 'Get Quote' and enter the OTP received on your mobile phone
  • Step 5: Click on 'Submit'
  • Step 6: You will get the offers as per your eligibility.
  • Step 7: MyLoanCare's executive will contact you within some time and help you with the further process.


Which bank is best for a Home Loan of up to ₹ 50 Lakh?

Currently, Kotak Bank can be considered as the best bank as it offers home loans at a lower interest rate of 6.50%. However, based on customer service, is the best bank for ₹ 50 Lakh home loan, with a rating of NAN/5.

Can I get a ₹ 50 Lakh home loan without collateral?

No, you cannot avail of a ₹ 50 Lakh home loan without collateral because a home loan is a secured loan, and you need to pledge your home as a security or collateral.

What are the factors that affect EMI of ₹ 50 Lakh Home Loan?

The EMI of ₹ 50 Lakh home loan depends on various factors such as loan tenure and interest rate effects. Higher the tenure, lower the EMI and vice versa.

What is the Interest Rates for a ₹ 50 Lakh SBI Home Loan?

As per the current rates, you can avail ₹ 50 Lakh SBI home loan at an interest rate of 6.65 pa. However, the bank charges a processing fee of 0.40% , Min ₹ 1,000, Max ₹ 30,000 on a home loan amount.

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Home Loan News - Sep 2021
  • 2021-09-24 : ICICI Bank Revises Home Loan Interest Rate
    ICICI Bank has cut home loan interest to 6.70%. The lowest rate for salaried is 6.70% and self-employed is 6.80%. If a borrower has a low credit score then they will have to pay 7.40% of the principal amount.
  • 2021-09-24 : LIC Housing Finance Announces New Home Loan Rates
    LIC Housing Finance has slashed the home loan rate to 6.66% for loans up to Rs 2 crore. These rates will be offered to the borrowers who have a credit score above 700 and it is valid till November 30, 2021.
  • 2021-09-21 : HDFC Bank Introduce Festival Bonanza Offer
    HDFC Bank has come up with a festival bonanza offer which is valid till October 31, 2021. The lender has cut home loan interest rate to 6.70%, the special rate is linked to borrowers credit score.
  • 2021-09-20 : PNB Introduces Festival Bonanza Offer
    Punjab National Bank (PNB) has introduced a festival bonanza offer under which they reduced home loan interest to 6.80%. Also, the lender has waived off processing fees and documentation charges on all retail loans like home loans, personal loans, car loans, gold loans, property loans. These charges are valid till December 31, 2021.
  • 2021-09-17 : Bank of Baroda Slashes Home Loan Interest Rate
    Bank of Baroda (BOB) has introduced a festive offer #KhushiyonKaShreeGanesh. The lender has reduced the home loan interest rate to 6.75%. Along with a slashed interest rate the bank has also waived off processing fees.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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