Home Loan of up to Rs.2 Crore_Banner_WC


Home Loan of up to Rs.2 Crore_WC

Rs.2 Crore Home Loan: Details

For aspiring home buyers in India, who want to close on the purchase of a new home before the end of the year, there’s a good chance that you might land a great deal, both on the property and the loan. As the year is coming to a close, most lenders and their representatives will be more eager to tie-up loose ends and gear for a fresh start in 2023. So those who are likely to be involved in a real estate transaction will be highly motivated to get the deal closing done faster without much negotiation. So, if you are eyeing that premium property, now could be a good time to get a home loan.

Home Loan Eligibility Criteria for Home Loan Up to Rs.2 Crore_WC

Rs.2 Crore Home Loan: Eligibility Criteria

When considering vendors, it is important to check the Home Loan eligibility criteria so you can maximize your chances of approval. Lending criteria vary with the type of employment and the sub-factors related to the employment type.

parameter Salaried Home Loan Borrowers Self-Employed Home Loan Borrowers
Nationality Indians (Non-NRIs) Indians (Non-NRIs)
Employment  Minimum 3 years of work experience. Best, if it is with a reputed employer Minimum 5 years of business continuity in the current enterprise
Age of borrower 23 to 62 years 25 to 70 years
Place of Residence Must reside in one of the cities the lender operates in Must reside in one of the cities the lender operates in

Upper age limit is considered as age at the time of loan maturity

Besides, you should preferably have a credit score of 750 and above.

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Documents Needed for a Home Loan Worth Rs.2 Crore

Before you apply, it’s best to check the list of documents required for a Home Loan.

Verification Type Document
Identification and Address PAN and Aadhar card
Utility bills, etc.
Financial Latest salary slips (of three months)
Bank statement (of six months)
ITR (of two years)
Property Sale Deed with the Registration Receipt
Agreement Copy
TAX receipt
Approved project plan/MAP
Existing Loan Sanction and foreclosure letter
Statement of Account (SOA)

Applicable only in case of a Home Loan Balance Transfer

Note: Apart from the documents mentioned here as those required for a Home Loan, other documents may be requested at the time of processing. These will be communicated to you by our representative.

Rs.2 Crore Home Loan EMIs for Different Tenors_WC

Rs.2 Crore Home Loan EMIs for Different Tenors

Before you proceed to apply for a housing loan, it is advised that you use the housing loan EMI calculator to project a rough EMI plan based on your preferred Home Loan terms.

Here are the details of the EMIs for a Home Loan of Rs.2 Crore for different tenors, taking into account the applicable interest rate of 8.60%**.

Loan Amount (In Rs) Tenor EMIs (In Rs.)
2 Crore 30 years 155,202
2 Crore 25 years 162,395
2 Crore 20 years 174,833
2 Crore 15 years 198,122
2 Crore 10 years 249,042

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.

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