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About a Home Loan of up to Rs.40 Lakh

A Home Loan is a financial product with which aspiring homebuyers can facilitate their dream of purchasing a home. Bajaj Housing Finance offers substantial Home Loan at a competitive interest rate with a flexible repayment tenor of up to 40 years.

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 Rs.40 Lakh, here is information about its 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, for a hassle-free experience.

Long Repayment Tenor

Enjoy a repayment tenor of up to 40 years with Bajaj Housing Finance Home Loan.

Feasible EMIs

We offer a competitive interest rate to all salaried, self-employed, and professional applicants.

Home Loan EMI Calculator

Calculate Your Home Loan EMI

Loan AmountRs.

Rs.1 LakhRs.15 Crore

TenorYears

1 Year40 Years

Interest Rate%

1%15%

Your EMI is Rs. 0

0.00%

Total Interest

Rs. 0.00

0.00%

Total Payable Amount

Rs. 0.00

View Repayment Schedule Apply Now

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Home Loan of 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
Indian citizens (including NRIs) Indian (resident only)
The individual should be between 23 and 75 years** of age The individual should be between 25 and 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.

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

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Home Loan of Rs.40 Lakh: Interest Rates and Fees

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 Home Loans starting from 8.50%* p.a. for salaried 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 of Rs.40 Lakh: EMIs for Various Tenors

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 to get an idea of your repayment schedule. 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 on a Home Loan of Rs.40 Lakh for a Tenor of 40 years

Loan amount Tenor Interest EMI
Rs.40 Lakh 40 years 8.50%* p.a. Rs.29,324
EMI on a Home Loan of Rs.40 lakh for a Tenor of 30 years

Loan amount Tenor Interest EMI
Rs.40 Lakh 30 years 8.50%* p.a. Rs.30,757

EMI on a Home Loan of Rs.40 lakh for a Tenor of 20 years

Loan amount Tenor Interest EMI
Rs.40 Lakh 20 years 8.50%* p.a. Rs.34,713

EMI on a Home Loan of Rs.40 lakh for a Tenor of 10 years

Loan amount Tenor Interest EMI
Rs.40 Lakh 10 years 8.50%* p.a. Rs.49,594

*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.

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Home Loan of Rs.40 Lakh: Documents Required

If you wish to avail of a Home Loan of Rs.40 Lakh, you can apply 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

  • Mandatory documents, that is, PAN Card or Form 60
  • KYC documents for identity verification 
  • 3 months’ salary slips for income proof
  • Proof of employment
  • Property-related documents such as a Title Deed, Property Tax Receipts, Allotment Letter, etc.

2. For Self-Employed Individuals

  • Mandatory documents, that is, PAN Card or Form 60
  • 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 a Title Deed, Property Tax Receipt, Allotment Letter, etc.

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

Steps to Apply for a Home Loan of up to Rs.40 Lakhs

Steps to Apply for a Home Loan of up to Rs.40 Lakh

To apply for a Bajaj Housing Finance Home Loan, follow these simple steps:

  1. Visit our Home Loan application form or click the ‘Apply Now’ button on the top-right corner of this page.
  2. Enter your personal details such as your name, phone number, and employment type.
  3. Now, select the type of loan you wish to avail.
  4. Enter your net monthly income, PIN code, and required loan amount.
  5. Enter the OTP to verify your phone number.
  6. Enter other details such as PAN and obligation which may vary based on your loan amount and employment type.

Once you have filled in all the required details, our representative will contact you and guide you with further steps.

*Terms and conditions apply.

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