Rs.30 Lakh Home Loan
Prospective homebuyers can avail of a Home Loan to purchase a residential property of their choice. To ensure hassle-free homeownership, we offer Home Loans at competitive interest rates with a flexible repayment tenure of up to 32 years, among other benefits.
If you are looking for a Home Loan of Rs.30 Lakh or even higher, apply today to make the most of our offering.
Features and Benefits of a Rs.30 Lakh Home Loan
A Home Loan of up to Rs.30 Lakh is ideal for intermediate income groups. The features and benefits that come along with a Home Loan from Bajaj Housing Finance include but are not limited to the following:
Competitive Interest Rate
We offer competitive interest rates to salaried, self-employed, and professional individuals, ensuring feasible Home Loans for all.
Sizeable Loan Amount
Eligible applicants can avail of a sizeable sanction to ensure the loan value is not a hindrance while purchasing a property.
Flexible Repayment Tenure
Enjoy a flexible repayment tenure of up to 32 years to make the repayment process manageable for yourself.
Doorstep Document Pick-up
Enjoy a truly hassle-free Home Loan borrowing journey from the comfort of your home and submit your documents online or have them picked up via our doorstep pick-up services.
Zero Part-Prepayment and Foreclosure Charges
Individual borrowers enjoy zero charges when they prepay or foreclose floating interest rate Home Loans wherein the advance is availed for housing purposes. However, this may change for individuals and non-individuals who have availed of loans for business purposes.
External Benchmarks Linked Loans
Borrowers also have the choice to link their Home Loan interest rates to an external benchmark such as the Repo Rate.
Documents Required for a Rs.30 Lakh Home Loan
The documents that you need to submit along with your Home Loan application vary based on your employment type:
Salaried Applicants:
- Must be an Indian citizen, including Non-Resident Indians (NRIs)
- Should be between 23 and 67 years** of age
- Must be a salaried professional with a minimum of 3 years of work experience
Self-Employed Individuals:
- Must be an Indian resident
- Should be between 23 and 70 years** of age
- Must be self-employed with at least 3 years of continuous business operations in the current enterprise
**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.
Eligibility Criteria for a Rs.30 Lakh Home Loan
The eligibility criteria for a Home Loan varies on the basis of employment and can be categorised into two sections:
- Salaried individuals
- Self-employed individuals
| For Salaried Individuals | For Self-Employed Individuals |
|---|---|
| Should be an Indian (NRIs included) | Should be an Indian (resident only) |
| Age between 23 to 67 years** | Age between 23 to 70 years** |
| Employed with at least 3 years of working experience | A verifiable business, operational for at least 3 years |
| An ideal CIBIL score of 750 or higher | An ideal CIBIL score of 750or higher |
**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.
Interest Rates and Charges for Rs.30 Lakh Home Loans
Bajaj Housing Finance offers Home Loans tailored to your requirements – be it in terms of a loan amount of Rs.30 Lakh or higher. Eligible applicants can make the most of industry-best terms with our customised solutions.
Our Home loan interest rates start from 7.45%* p.a. for eligible salaried applicants. To know about other fees and charges applicable, click here.
Rs.30 Lakh Home Loan EMI for Different Tenures
If you're thinking about availing of a Rs.30 Lakh Home Loan but aren't sure what your EMI payments will be, use the housing loan EMI calculator The tool enables complex calculations quickly and without error.
The table below shows EMI calculations based on different repayment tenures:
Rs.30 Lakh Home Loan EMI for 32 years
| Loan amount | Tenure | Interest | EMI |
|---|---|---|---|
| Rs.30 Lakh | 32 years | 7.45%* p.a. | Rs. 20,532 |
Rs.30 Lakh Home Loan EMI for 20 years
| Loan amount | Tenure | Interest | EMI |
|---|---|---|---|
| Rs.30 Lakh | 20 years | 7.45%* p.a. | Rs. 24,076 |
Rs.30 Lakh Home Loan EMI for 15 years
| Loan amount | Tenure | Interest | EMI |
|---|---|---|---|
| Rs.30 Lakh | 15 years | 7.45%* p.a. | Rs. 27,725 |
Rs.30 Lakh Home Loan EMI for 10 years
| Loan amount | Tenure | Interest | EMI |
|---|---|---|---|
| Rs.30 Lakh | 10 years | 7.45%* p.a. | Rs. 35,532 |
*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.30 Lakh
Applying for a Home Loan online is quick and simple. Check the steps below to apply today.
- Visit the Home Loan application form.
- Enter your personal details – name and mobile number.
- Select your occupation and loan type and provide your PIN code, required loan amount, and net monthly income.
- Enter your OTP to validate your number.
- Enter your PAN, obligation, and other details, which can vary depending on your loan and employment type.
- Click 'Submit' to submit the application form.
A Bajaj Housing Finance representative will connect with you to walk you through the following steps.
*Terms and conditions apply.
Tax Benefits on a Rs.30 Lakh Home Loan
If you have availed of a Home Loan of Rs. 30 Lakh, you can enjoy several income-tax benefits under the old tax regime of the Income Tax Act, 1961:
1. Deduction on Interest Paid – Section 24(b)
You can claim a deduction of up to Rs.2 Lakh per financial year on the interest component of your Home Loan if the property is self-occupied. For a let-out property, there is no upper limit on the interest deduction, although losses that can be set off against other income are capped at Rs.2 Lakh in a financial year.
2. Deduction on Principal Repayment – Section 80C
Under this section, you can claim a deduction of up to Rs.1.5 Lakh per year on the principal portion of your Home Loan EMI. This limit is shared with other eligible investments such as EPF, PPF, and life-insurance premiums. However, the deduction applies only if the property is not sold within five years of possession.
3. Additional Deduction for First-Time Homebuyers – Section 80EEA
If you are a first-time homebuyer, you may be eligible for an additional deduction of Rs.1.5 Lakh on the interest paid, provided the property’s stamp-duty value does not exceed Rs.45 Lakh and the loan was sanctioned by an approved lender. This benefit is available over and above deductions under Sections 24(b) and 80C.
4. Joint Home Loan Benefits
If the Rs.30 Lakh Home Loan is taken jointly, both co-borrowers can claim individual tax deductions on the principal (up to Rs.1.5 Lakh each) and interest (up to Rs.2 Lakh each), as long as both are co-owners and contribute to the EMIs.
Tips to Improve Home Loan Approval Chances
To improve the chances of Home Loan approval, maintain a credit score above 750 and clear existing debts. Applying jointly with a co-applicant can also increase your eligibility. Include all documented income sources—such as rent or bonuses—to enhance your repayment capacity. To estimate your current eligibility, you can use our Home Loan Eligibility Calculator.
Rs.30 Lakh Home Loan
To estimate your EMIs for a Rs.30 Lakh Home Loan, use our Home Loan EMI Calculator. It provides a monthly repayment amount based on your loan amount, tenure, and interest rate.
To apply for a Rs.30 Lakh Home Loan a self-employed applicant must:
- Be an Indian resident only
- Age should be between 23 and 70 years**
- Have at least 3 years of continuity in the current business
A salaried individual must meet the following criteria to apply for a Rs.30 Lakh Home Loan:
- Be an Indian citizen (including NRIs)
- Be aged between 23 and 67 years**
- Have a minimum of 3 years of work experience
**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.
Calculating your EMIs for a Rs.30 Lakh Home Loan is simple with our Home Loan EMI Calculator. This tool helps you estimate your monthly repayments, total interest, and total loan amount based on the details you provide. Here is how to use it:
-
Go to our Home Loan EMI Calculator.
-
Enter the loan amount.
-
Specify the loan tenure.
-
Provide the applicable interest rate.
Yes, you can avail of a Rs.30 Lakh Home Loan with Bajaj Housing Finance easily by meeting our eligibility criteria. You can benefit from a competitive interest rate, quick approval, and a seamless application process.
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