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Home Loan of up to Rs.40 Lakh: Overview

A Home Loan is a sizeable credit that comes with a repayment period as high as 30 years. Thus, it is important applicants review all specifications and features before applying.

The loan amount offered depends on your employment, income, financial, and credit profile, as well as the property in question. If you are looking for a Home Loan of up to Rs.40 Lakh, read on to know more about features, eligibility criteria, and interest rates.

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Home Loan of up to Rs.40 Lakh: Features and Benefits

There are several features and benefits that come with a Bajaj Housing Finance Home Loan.

Minimal documentation

Complete your Home Loan application process with minimal documentation, from the comfort of your home.

Long Repayment Tenor

Enjoy a repayment tenor of up to 30 years. You can choose to opt for a longer tenor with lower EMIs to ensure comfortable repayment, or a shorter tenor so you can become debt free quicker.

Affordable EMIs

We offer a competitive interest rate starting at 7.70%* for salaried and professional applicants. Your EMI can be as low as Rs. 713/Lakh*

Home Loan EMI Calculator

Home Loan EMI Calculator

Loan AmountRs.

1L15Cr

TenorYears

130

Interest Rate%

115

Your EMI is Rs. 0

0.00%

Total Interest

Rs. 0.00

0.00%

Principal Amount

Rs. 0.00

View Repayment Schedule Apply Now

Repayment schedule
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Home Loan up to Rs.40 Lakh: Eligibility Criteria

​Salaried Employees Self-Employed Individuals
Employed with at least 3 years of work experience. Steady income from a business with a vintage of over 5 years.
Must be a citizen and resident of India. Must be a citizen and resident of India.
The individual must be between 23 and 62 years of age**. The individual must be between 25 and 70 years of age**.

** The maximum age is considered as age at the time of loan maturity.

For both the categories, the individual must have a steady monthly income, while the intended property to be bought or renovated must meet the lending criteria for a Home Loan up to Rs.40 Lakh.

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Interest Rate for a Home Loan up to Rs.40 Lakh

Another important feature of a Home Loan to take into account is the interest rate, which varies from individual to individual. Bajaj Housing Finance offers quick Home Loans starting from 7.70%* for salaried and professional applicants. The final rate of interest offered to you depends on your profile and the property in question.

For more details about our fees and charges, please  click here.

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Home Loan up to Rs.40 Lakh: EMI

If you are interested in borrowing a Home Loan of Rs.40 Lakh and are unsure of what your EMI payments may look like, use the Home Loan EMI Calculator and complete your repayment planning. The tool, as explained, is easy to navigate and minimises the room for error. Following is a table of EMI calculations, based on various repayment tenors:

EMI Calculations for a Home Loan of Rs.40 Lakh

Home Loan Interest Rate Home Loan Repayment Tenor EMI Payable
7.70% 10 years Rs.47,899
7.70% 15 years Rs.37,537
7.70% 20 years Rs.32,715
7.70% 30 years Rs.28,518

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Home Loan up to Rs.40 Lakh: Documents Required

If you wish to avail of a Home Loan of up to Rs.40 Lakh, you can apply either online or offline. The process of applying for a loan requires basic documentation. According to your category (salaried employee or self-employed), you will need only the following:

1. For Salaried Employees

  • KYC documents for identity verification 
  • 3 months’ salary slips for income proof
  • Proof of employment
  • Property related documents such as title deed, property tax receipts, and allotment letter

2. For Self-Employed Individuals

  • KYC documents for identity verification 
  • P&L statements, among other documents, to prove a steady flow of income from the existing business operational for more than 5 years
  • Educational certificates for doctors and a valid COP for CAs
  • Proof of business
  • Property related documents such as title deed, property tax receipts, and allotment letter

Note: This list is indicative. Additional documents may be needed during loan processing.

*Terms and conditions apply

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Rs. 1,999

Rs. 5,999

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