Rs.5 Crore Home Loan Details
Indian residential real estate has successfully been able to withstand the test of time as an investment option aimed toward decent returns. Buying a residential property not only brings with itself the benefits associated with home ownership but also brings stability into a person’s investment portfolio. The physical nature of the asset enables significant returns since the property’s value keeps appreciating.
This year, Home Loan interest rates have gone up following the repo rate hikes made by the RBI. Property rates have jumped across cities. However, financial experts say that the rising rates in Home Loans have not impacted the residential property demands.
Despite the price increase by developers and the repo rate hike by the RBI in recent times, housing sales continue to be strong across top cities as genuine, aspiring buyers are showing their interest and coming forward to seal deals.
A key point to remember in the current scenario is that housing affordability has gotten better over the last eight years. It hit the best levels in the last fiscal year and continues to be attractive even now. This has been boosting end-user demand in key affordable and mid-income segments.
Features and Benefits of a Home Loan of Rs. 5 Crore
A Home Loan of Rs.5 Crore (50 million rupees) is a substantial amount of money that can be used to purchase a high-value property, such as a luxury villa or a large commercial property. Some of the key features and benefits of a Home Loan of Rs.5 Crore include:
Competitive Interest Rate
Home loans of higher amounts generally have lower interest rates as they are low-risk loans for lenders. Our Interest rates start from 8.80%* p.a.
Sizeable Loan Sanction
A home loan of Rs.5 Crore allows you to purchase a high-value property that may not be possible with a smaller loan amount.
Flexible Repayment Tenor
Home loans of Rs.5 Crore typically have longer repayment tenures, which can help you to spread your loan repayments over a longer period and manage your finances more effectively.
Online Account Management
We make handling your Home Loan details easier for you by way of our Online Account Management portal, which lets you access your loan details without visiting our branch in person.
Tax benefits
You can claim tax benefits on the principal and interest paid on your Home Loan under Section 80C and Section 24 of the Income Tax Act.
Zero Part-Prepayment and Foreclosure Charges
You need not pay any part-prepayment and foreclosure fees as a Bajaj Housing Finance individual borrower.
Eligibility Criteria for a Home Loan of Rs. 5 crore
Borrowers can easily apply for a Home Loan when they qualify under the below eligibility criteria laid down for salaried, professional and self-employed individuals. Our criteria are practical and meant to encourage Home Buying.
As a Salaried/Professional Individual, you should be:
A residing citizen of India Between 23 and 62 years of age** Working for at least the past 3 years at a recognised organisation.
As a Self-Employed Individual, you should be:
A residing citizen of India Between 25 and 70 years of age** Having a business vintage of at least 5 years
**Please note that the upper age limit is considered as the applicant’s age at the time of loan maturity.
Rs. 5 Crore Home Loan Application Process
Visit our Home Loan application form and apply online with a simple and straight, 3-step process explained below:
- Enter your basic personal details
- Choose the Home Loan Type (Fresh Loan or Balance Transfer), Required Loan Amount and your Employment Type (Salaried or Self-employed)
- Generate OTP
Once you have submitted the form, someone from Bajaj will contact you to take the process further.
*Terms and conditions apply.
Rs.5 Crore Home Loan EMIs for different Tenors
Depending on your tenor, the EMI payment for a home loan of Rs.5 Crore would range from Rs.3 to 6 lakhs per month at an interest rate of 8.70%*.
Since you will be paying a considerable amount each month, you must make a well-informed decision. A Home Loan calculator can be used to estimate the EMI and analyse the affordability of monthly repayments.
The following table provides a clearer picture of the EMIs for a Rs.5 Crore Home Loan for various tenors, taking into account the applicable interest rate of 8.70%*.
| Loan Amount (In Rs) | Tenor | EMIs (In Rs.) |
|---|---|---|
| 5 Crore | 30 years | 3,91,566 |
| 5 Crore | 25 years | 4,09,375 |
| 5 Crore | 20 years | 4,40,261 |
| 5 Crore | 15 years | 4,98,249 |
| 5 Crore | 10 years | 6,25,290 |
*The EMIs in the above tables were calculated using a home loan EMI calculator and are subject to change.
Type of Verification Supporting Documents for Home Loan up to Rs.5 Crore
- For address and identity – Aadhar, PAN, and Utility bills.
- Income related – Latest pay slips (of at least three months), bank statements (of six months), and ITR (of two years)
- Property specific – The property sale deed with registration receipt, agreement copy, approved project plan, and tax receipts
- Existing Home Loan - Sanction letter and other papers as prompted by the lender
- In addition to the papers listed above as necessary for a housing loan, additional documents may be asked for by the lender.
*Terms and conditions apply.
