Overview of a Home Loan of up to Rs.5.5 Crore
If you are planning to enter the real estate market by purchasing a residential property – whether to reside or as an investment, consider availing of a Home Loan that comes with competitive interest rates, repayment flexibility, and a host of other features – offered to prioritise borrower's ease and comfort.
Interest Rate and EMIs for a Rs.5.5 Crore Home Loan
We offer competitive Home Loan interest rates starting at 7.99%* p.a. for salaried applicants. The final interest rate that will be provided to a borrower will be determined by a number of factors, including the borrower's age, monthly income, credit score, and others.
Rs.5.5 Crore Home Loan EMI for different tenures
Considering the Home Loan interest rate of 7.99%* p.a. as a constant, the table below breaks down the potential EMIs for tenures ranging from 10 to 40 years on a Home Loan of Rs.5.5 Crore.
| Loan Amount | Tenure | EMI |
|---|---|---|
| Rs.5.5 Crore | 32 years | Rs. 3,97,281 |
| Rs.5.5 Crore | 25 years | Rs. 4,24,135 |
| Rs.5.5 Crore | 20 years | Rs. 4,59,700 |
| Rs.5.5 Crore | 15 years | Rs. 5,25,291 |
| Rs.5.5 Crore | 10 years | Rs. 6,67,011 |
Fees and Charges for a Home Loan of up to Rs.5.5 Crore
Bajaj Housing Finance offers Home Loans at interest rates starting as low as 7.99%* p.a. for salaried homebuyers. However, the interest rate for a housing loan depends on several different factors, such as the borrower’s credit score, age, job, and income stability.
To learn more about our fees and charges, click here.
Features and Benefits of a Rs.5.5 Crore Home Loan
Low Interest Rates
At Bajaj Housing Finance, we strive to offer low interest rates, ensuring that the total cost of borrowing is manageable.
Flexible Repayment Tenure
With us, you can choose to repay your loan over a period extending up to 32 years.
Online Tools to Help
Borrowers can access online tools, such as the Bajaj Housing Finance Home Loan EMI Calculator and the Home Loan Eligibility Calculator for free. These tools help borrowers understand the loan amount they can borrow and easily repay.
Online Account Management
Home Loan borrowers can access their loan account, make payments, raise queries, and do a lot more using our online customer portal.
Quick Disbursal
With us, you can expect quick approval and disbursal in 48 Hours* post document verification.
Eligibility Criteria for a Rs.5.5 Crore Home Loan
Our Home Loan eligibility criteria are simple and easy-to-meet. Here are our qualifying requirements for salaried and self-employed applicants.
Eligibility Criteria for Salaried Applicants
- The applicant should be an Indian (including NRI).
- They should be between 23 and 67 years** of age.
- They should be able to show at least 3 years of work experience.
Eligibility Criteria for Self-Employed Applicants
- The applicant should be an Indian resident only.
- They should be between 23 and 70 years** of age.
- They should be able to show at least 3 years of business continuity.
**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.
Documents Required for a Rs.5.5 Crore Home Loan
To experience a hassle-free loan application process, keep the following documents ready with you:
- Mandatory documents (PAN Card or Form 60)
- KYC documents (address and identity proofs)
- Recent photographs
- Latest salary slips (for salaried applicants)/ITR document and P&L statements (for self- employed applicants)
- Bank account statements of the previous 6 months
- Document for proof of business, with minimum 5 years’ vintage (for businessmen/self-employed individuals only)
Please note that this is only an indicative list, and our team members may ask for additional documents at the time of Home Loan processing. These requirements will be communicated to you in advance.
How to Apply for a Home Loan of up to Rs.5.5 Crore?
Here is the step-by-step guide to apply for a Home Loan of up to Rs.5.5 Crore:
- Navigate to the online Home Loan application form.
- Click on the 'New Loan' option and fill in the details carefully.
- Enter the OTP and validate your mobile number.
- Enter the required property-related and financial details.
- Submit the application form.
Moreover, you can also apply without downloading any app or visiting any website by simply texting “Hi” to '7507507315' from your WhatsApp.
The steps involved are quite simple, which are as follows:
- Send “Hi” to '7507507315'.
- Enter your personal and financial details.
- Check your Home Loan offer instantly.
*Terms and conditions apply.
To determine your EMIs for a Rs.5.5 Crore Home Loan, you can use our EMI calculator. It estimates your monthly repayment amount based on your loan amount, tenure, and rate of interest.
Salaried, self-employed, and professional applicants can benefit from our competitive interest rates, ensuring feasible EMIs. For a detailed list of interest rates for a Rs.5.5 Crore Home Loan, click here.
