Rs.10 Lakh Home Loan: Overview
If you are planning to buy a residential property, a Home Loan of Rs.10 Lakh can be a convenient way to secure your dream home. With a competitive interest rate and flexible repayment tenor, a housing loan of up to Rs.10 Lakh can be a feasible choice for those seeking a budget-friendly home.
Features and Benefits of Rs.10 Lakh Home Loan
Flexible Repayment Tenor
With a Home Loan from Bajaj Housing Finance, you can repay your loan over a long and flexible repayment tenor extending up to 32 years.
Quick Disbursal
If you are looking for a Home Loan of up to Rs.10 Lakh with quick disbursal, you can consider applying with us as we disburse the loan amount within 48 Hours* after document verification.
Competitive Interest Rates
With a feasible interest rate, keep your EMI manageable and your loan repayment journey stress-free.
Online Tools for Financial Planning
You can use our online tools such as an EMI calculator and an eligibility calculator to estimate your monthly instalments and approximate loan amount you can qualify for respectively.
Documents Required to Apply for a Home Loan of Rs.10 Lakh
Our minimal documentation requirement ensures quick approval, verification, and disbursal. Here are some of the documents that you need to submit along with your Home Loan application:
For Self-Employed Individuals
- Mandatory documents (PAN Card or Form 60)
- KYC documents such as an Aadhaar Card, Voter’s ID, or Passport
- P&L statements and other documents demonstrating a steady flow of income from the existing business in operation for at least 3 years
- Proof of business
- Property-related documents such as Title Deed, Property Tax Receipts, and Allotment Letter
For Salaried Employees
- Mandatory documents (PAN Card or Form 60)
- KYC documents (Aadhaar Card or Voter’s ID)
- 3 months’ salary slips
- Property-related documents such as Title Deed, Property Tax Receipts, and Allotment Letter
Note: This list is indicative. Additional documents may be asked during loan processing.
Eligibility Criteria for Rs.10 Lakh Home Loan
To secure a Rs.10 Lakh Home Loan, ensure you meet the following eligibility criteria:
Salaried Individual:
- Should be an Indian (including NRIs)
- Should be between 23 and 67 years** of age
- Should have at least 3 years of work experience
Self-Employed Individual:
- Should be an Indian (resident only)
- Should be between 23 and 70 years** of age
- Should have at least 3 years of continuity in your current business
**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
EMIs for Rs.10 Lakh Home Loan for Various Tenors
Your EMI for a Rs.10 Lakh Home Loan varies based on the tenor and interest rate. The following tables show EMI calculations based on different tenors:
EMI for Rs.10 Lakh Home Loan for 32 Years
| Loan Amount | Tenor | Interest | EMI |
|---|---|---|---|
| Rs.10 Lakh | 32 years | 8.25%* | Rs.7,408 |
EMI for Rs.10 Lakh Home Loan for 20 Years
| Loan Amount | Tenor | Interest | EMI |
|---|---|---|---|
| Rs. 10 Lakh | 20 years | 8.25%* | Rs.8,521 |
EMI for Rs.10 Lakh Home Loan for 15 Years
| Loan Amount | Tenor | Interest | EMI |
|---|---|---|---|
| Rs. 10 Lakh | 15 years | 8.25%* | Rs.9,701 |
EMI for Rs.10 Lakh Home Loan or 10 Years
| Loan Amount | Tenor | Interest | EMI |
|---|---|---|---|
| Rs. 10 Lakh | 10 years | 8.25%* | Rs.12,265 |
EMI for Rs.10 Lakh Home Loan for 5 Years
| Loan Amount | Tenor | Interest | EMI |
|---|---|---|---|
| Rs. 10 Lakh | 5 years | 8.25%* | Rs.20,396 |
Steps to Apply for Rs.10 Lakh Home Loan
To apply for a Home Loan of Rs.10 Lakh online, follow these simple steps:
- Visit our Home Loan application form.
- Select your loan type and the nature of your employment.
- Provide your personal details, such as your name, mobile number, and employment type.
- Enter all required financial details and complete the application form.
- Click ‘Submit’ to submit your application.
Once your form is submitted, a representative will reach out to guide you through the next steps, including document submission and verification.
Alternatively, you can apply for a Home Loan by visiting any of our branches across India.
*Terms and conditions apply.
FAQs
To apply for a Home Loan of up to Rs.10 Lakh, you need to meet the following eligibility criteria:
Salaried Applicant:
- Should be an Indian (including NRIs)
- Should be between 23 and 67 years** of age
- Should have at least 3 years of work experience
Self-Employed Applicant:
- Should be an Indian (resident only)
- Should be between 23 and 70 years** of age
- Should have at least 3 years of continuity in the current business
**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
To calculate your EMIs on a Home Loan of Rs.10 Lakh, follow the steps given below:
- Access our Home Loan EMI Calculator.
- Enter the loan amount you require.
- Select the loan tenor.
- Enter the rate of interest.
The calculator will display the EMI amount along with the total interest and payable amount.
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