Rs.35 Lakh Home Loan Details
For many of us, owning a home is a milestone achievement. To ensure that you have substantial finance to purchase your dream home, opt for our Home Loan, which comes with an array of benefits. Eligible applicants can avail of funds at competitive interest rates, with flexible repayment options and a tenure of up to 32 years.
Need a Rs.35 Lakh Home Loan? Apply today with Bajaj Housing Finance.
Features and Benefits of a Home Loan Worth Rs.35 Lakh
Taking a Home Loan of up to Rs.35 Lakh is an economic approach to buying your dream home, as the offer caters to borrowers with an average income range. To make it easier for borrowers, Bajaj Housing Finance offers a hassle-free Home Loan application procedure.
Here are some of the benefits of taking a Home Loan:
Minimal Documentation Request
For a Home Loan, the documentation requirements are simple and straightforward. We look at your basic KYC documents, income proof, and property documents.
Easy Account Management
When you avail of a Home Loan of any amount or size, you are given access to all your loan details through an online platform that allows you to monitor and manage your loan proceedings effectively.
Flexible Repayment Tenure
Bajaj Housing Finance offers Home Loan borrowers ample time to repay the loan comfortably. A housing loan may be repaid over a tenure of 32 years.
Eligibility Criteria for a Home Loan Worth Rs.35 Lakh
Meet our simple Home Loan Eligibility Criteria to avail of a Home Loan of up to Rs.35 Lakh or any other amount with ease.
| For Salaried Individuals | For Self-Employed Individuals |
|---|---|
| For salaried and professional individuals: Must be an Indian citizen (including NRIs) | For self-employed individuals: Must be an Indian (resident only) |
| Should ideally have a CIBIL Score of 750 and higher | Should ideally have a CIBIL Score of 750 and higher |
| Should have a work experience of 3 years or more | Should have a minimum business vintage of 3 years or more |
| Should be aged between 23 to 67 years** | Should be aged between 23 to 70 years** |
**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.
Documents Required to apply for a Housing Loan of Rs.35 Lakh
To apply for a Home Loan of Rs.35 Lakh, you need to submit the following documents***:
| Document Category | Documents Required |
|---|---|
| Mandatory Documents | PAN Card or Form 60 |
| KYC Documents | Recent passport-size photograph, Voter ID, Aadhaar Card, valid Passport, or valid Driving Licence |
| Proof of Income | For salaried or salaried professionals – last 3 months’ salary slips; for self-employed applicants – Profit and Loss Statement and Income Tax Returns; for all applicants – last 6 months’ primary bank account statements |
| Business Proof | Evidence of business continuity for at least 5 years (for self-employed and non-professional applicants) |
| Educational Qualifications | MBBS degree or higher (for self-employed doctors) and a valid Certificate of Practice (for self-employed Chartered Accountants) |
| Property-related Documents | Title Deed, Allotment Letter, and latest Property Tax Receipts |
***This is an indicative list.
Rs.35 Lakh Home Loan EMI for Various Tenures
Your Home Loan EMI (Equated Monthly Instalments) refers to the amount you pay every month throughout your loan tenure, as a part of your repayment plan. Your EMIs depend on your eligibility criteria, income, and repayment capacity.
Before you proceed to apply for a housing loan, use the Home Loan EMI Calculator to project a tentative EMI plan, based on your preferred Home Loan terms.
If you are a salaried applicant, here is an example of what your Home Loan EMI may look like, with a Home Loan interest rate of 7.45%* p.a. for different repayment tenures.
| Loan Amount | Loan tenure | Interest Rate | EMI Payable |
|---|---|---|---|
| Rs.35 Lakh | 32 Years | 7.45%* | Rs. 23,954 |
| Rs.35 Lakh | 20 Years | 7.45%* | Rs. 28,089 |
| Rs.35 Lakh | 15 Years | 7.45%* | Rs. 32,346 |
| Rs.35 Lakh | 10 Years | 7.45%* | Rs. 41,454 |
*The values in the preceding tables are subject to change.
Disclaimer:- The interest rate considered here, and its subsequent calculations are for illustrative purposes only. The calculations and actuals will differ basis the individual’s profile and loan requirements.
Steps to Apply for a Home Loan of up to Rs.35 Lakh
The steps to apply for a Home Loan with Bajaj Housing Finance are easy to follow and straightforward. Applicants can complete the journey within minutes, after which our representative will walk them through their loan offer and application verification process.
- Visit our Home Loan application form.
- Provide your personal details such as name and mobile number.
- Next, select your employment and loan type.
- Enter the PIN code and the required loan amount.
- Click on ‘Generate OTP’ and enter the OTP.
- Submit the form after filling all the requested details
*Terms and conditions apply.
FAQs
You can avail of a Home Loan of Rs.35 Lakh with a low credit score; however, you may secure a high interest rate or less favourable terms.
Yes, you can prepay or foreclose your Home Loan of Rs.35 Lakh if you are an individual borrower and have availed of a Home Loan at a floating rate of interest. However, individual and non-individual borrowers who have availed of a loan for business purposes may need to pay prepayment or foreclosure fees.
To apply for a Home Loan of Rs.35 Lakh with Bajaj Housing Finance, you can follow these simple steps:
-
Access our housing loan application form.
-
Enter your personal and financial details as required.
-
Enter your PIN code and the required loan amount.
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Click on ‘Generate OTP’ and enter the OTP.
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After filling in the required details, click on ‘Submit’
Yes, if you avail of a Home Loan of Rs.35 Lakh, you can maximise savings with the following tax benefits:
- Deduction on Interest Payment – Up to Rs.2 Lakh per financial year under Section 24(b)
- Deduction on Principal Repayment – Up to Rs.1.5 Lakh per financial year under Section 80C
- Additional Deduction for First-Time Buyers – Up to Rs.50,000 under Section 80EE (subject to conditions)
- Deduction on Stamp Duty and Registration Charges – Claimed under Section 80C (within the overall limit of Rs.1.5 Lakh)
- Joint Loan Benefits – If the loan is taken jointly, each co-borrower can claim deductions individually on both principal and interest
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