Home Loan on Rs.65000 Salary: Overview
Prospective homebuyers can avail of a Home Loan to facilitate the purchase of a residential property. Every bank or NBFC is required to conduct checks and measures while assessing the Home Loan applications. This is done to examine the creditworthiness of a borrower. Several factors such as the applicant’s income, job profile, current liabilities, and so on, are considered when lending loans. If you have a good credit score and meet the eligibility criteria set by your lender, your loan request has a higher chance of being approved.
If you are planning to avail of a Home Loan on a salary of Rs.65,000, read further to learn about our Home Loan features, required documents, and the process to apply for it online.
Features and Benefits of a Home Loan with Bajaj Housing Finance
If you are looking for a home loan on a salary of Rs.65,000, you can enjoy several benefits if you opt for Bajaj Housing Finance.
High Loan Amount
For a salary of Rs.65,000, you can enjoy a Home Loan sanction of considerable amount.
Long Repayment Tenure
A long repayment tenure of 32 years helps you pay comfortably and reduces your burden.
Easy EMIs
At an interest rate starting as low as 7.15%* p.a. for salaried applicants , you can grab a better deal and make considerable savings
Minimal Documentation
We keep the documentation minimal and quick so that your experience remains positive.
Top-up loan
When in need of interior upliftment, opt for a Top-up loan at low interest rates and cover your additional expenses.
Disbursal in 48 Hours*
Home loan applicants can expect to receive their sanction within 48 Hours*, following the approval of their application and documentation verification.
Eligibility Criteria for a Housing Loan on a Salary of Rs.65,000
| Salaried Individuals | Self-Employed Individuals |
|---|---|
| Indians including NRI | Indian residents only |
| 3+ years of work experience | 3+ years of business vintage at current enterprise |
| Should be between 23 to 67 years of age** | Should be between 23 to 70 years of age** |
**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 for a Home Loan
Documentation requirements for a housing loan depend on your profession - whether salaried or self-employed – as listed here:
For Salaried Applicants:
- Address proof
- Mandatory documents- PAN Card/Form 60
- Proof of income
- KYC documents
- Latest salary slips of three to six months
- Form 16
- Bank statements for the past six months
For Self-Employed Applicants:
- Profit and loss statements
- Mandatory documents- PAN Card/Form 60
- KYC documents
- Financial statements for the previous six months
- Balance sheet
- Business registration certificate
Note: This is an indicative list. Lenders may call for additional documents during Home Loan processing.
How Much Home Loan Can I Get on Rs.65,000 Salary?
Your monthly salary, among other factors, helps in determining the Home Loan amount you are eligible for. Lenders normally extend housing loans up to a maximum tenure of 32 years. The rate of interest, tenure, and loan amount will vary according to your financial standing and the terms extended by your lender. You can use a Home Loan Eligibility Calculator to accurately estimate the principal amount you may be eligible for.
Home Loan Eligibility Criteria
Lenders evaluate each applicant’s eligibility based on the following parameters to appraise their credit profile and repayment capacity. This helps them decide whether or not to grant approvals, and if so, on what terms and conditions.
Also Read: How much Home Loan can I get on my salary?
How to Apply for a Home Loan on a Salary of Rs.65,000?
Access the official website of your preferred lender to apply for a housing loan on a salary of Rs.65,000. If you wish to apply for a Home Loan with us, follow the steps given below:
- Navigate to the online Home Loan application form.
- Fill in the details as asked, providing accurate information.
- Enter the amount you wish to borrow.
- Ensure there are no errors. Check the details carefully before submitting.
- You will need to present the necessary documentation for further processing and scrutiny of the application form to receive loan approval.
Once you submit the Home Loan application, our representatives will get in touch with you to explain the further steps.
*Terms and conditions apply.
Tips to Improve Your Home Loan Eligibility on a Rs.65,000 Salary
To improve your eligibility for a Home Loan, you can consider these tips:
- Maintain a healthy credit profile
Aim for a CIBIL score of 750 or higher, as it reflects financial discipline and responsible credit behaviour. To keep your score strong, make timely payments, limit credit card usage, and avoid multiple loan applications in a short span. - Clear or reduce existing debts
Settling smaller loans or reducing credit card balances can significantly improve your repayment capacity. Lower outstanding liabilities mean more disposable income available for your home loan EMI. - Add an earning co-applicant
Applying jointly with a spouse or another family member who has a steady income enhances your overall repayment capacity. This not only boosts eligibility but can also help secure a higher loan amount. - Declare all income sources
Include any supplementary income, such as rent, bonuses, or part-time earnings, in your loan application. Proper documentation of these additional sources can strengthen your eligibility.
To know the Home Loan amount you can qualify for with a salary of Rs.65,000, you can use our Home Loan Eligibility Calculator.
You need to submit the following documents*** to apply for a Home Loan:
- KYC documents – Aadhaar Card, PAN Card, Passport, Voter ID, or Driving Licence
- Proof of income – Latest salary slips for salaried individuals or Income Tax Returns and financial statements for self-employed applicants
- Bank statements – Usually for the last six months
- Property documents – Sale agreement, title deed, or other ownership proofs
- Photographs – Passport-size photographs
***This list is indicative.
Factors such as your city of residence, date of birth, monthly income, employment type, and monthly obligations can affect your Home Loan eligibility.
Your EMI is calculated based on your tenure, interest rate, and the loan amount.
You can improve your eligibility by:
- Applying with a financial co-applicant
- Improving your credit score
- Paying off existing debts
- Disclosing additional income, if any
