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Rs.50 Lakh Home Loan: Overview
Turn your homeownership dream into reality with a Rs.50 Lakh Home Loan at a competitive interest rate, long repayment tenure, and quick disbursal in 48 Hours* after document verification and loan approval.
Features and Benefits of Rs.50 Lakh Home Loan
High Loan Amount
Based on your eligibility, you can avail of a substantial loan amount to help meet your homeownership goals.
Balance Transfer Facility
Planning to switch your existing Home Loan? Transfer your outstanding balance to Bajaj Housing Finance and benefit from our competitive lending offerings.
Top-up Loan Facility
Need additional funds after purchasing your home? Along with a Home Loan Balance Transfer, you may also be eligible for a Top-up Loan to address housing requirements.
Seamless Application Process
Apply for a Home Loan conveniently through our online platform for a quicker experience. You can also visit a nearby branch for personalised assistance with your application.
Long Repayment Tenure
Enjoy comfortable repayment with a long tenure of up to 32 years.
Eligibility Criteria to Apply for Rs.50 Lakh Home Loan
Our eligibility requirements are easy to meet and straightforward, making it faster for you to pass this stage. Following are some of the eligibility criteria that you should meet to avail of a Home Loan with us:
| Salaried and Professional Individuals | Self-Employed Individuals |
|---|---|
| Indians including NRIs | Indian residents only |
| Ideal CIBIL score of 750+ | Ideal CIBIL score of 750+ |
| 3+ years of work experience | 3+ years of business vintage at current enterprise |
| Aged between 23 to 67 years** | Aged between 25 to 70 years** |
** 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 Rs.50 Lakh Home Loan
Applicants will have to submit the following list of documents*** to apply for a Home Loan of up to Rs.50 Lakh:
- KYC Documents: Passport, Ration Card, Utility Bills, Driving Licence, Electricity Bills, etc.
- Mandatory Documents: PAN Card or Form 97
- Proof of Income Documents: Salary slips, P&L statements, bank account statements, etc. In the case of self-employed individuals, one should also submit proof of business documents.
- Property Documents: Title Deed, NOC, Sale Deed, etc.
***This list is indicative and our team may ask you for additional documents at the time of loan processing.
EMI Calculation for Rs.50 Lakh Home Loan
Bajaj Housing Finance offers a range of online calculators to help you plan your Home Loan effectively and assess your borrowing capacity. Using our Home Loan EMI Calculator can help you estimate your monthly repayments and better align your loan requirements with our eligibility criteria.
To calculate your estimated EMI, follow these simple steps:
1. Choose your desired loan amount using the loan amount slider.
2. Select a repayment tenure that suits your financial goals.
3. Enter the applicable Home Loan interest rate using the interest rate slider.
Based on the values entered, the calculator will instantly display your estimated monthly instalment.
Impact of Tenure on EMI for a Home Loan of Rs.50 Lakh
Refer to the tables below for indicative EMI calculations on a Rs.50 Lakh Home Loan across different repayment tenures.
EMI for a Rs.50 Lakh Home Loan for a tenure of 32 years
| Loan amount | Tenor | Interest (p.a.) | EMI |
|---|---|---|---|
| Rs.50 Lakh | 32 years | 7.25%* | Rs. 33,526 |
EMI on a Home Loan of Rs.50 Lakh for a tenor of 20 years
| Loan amount | Tenor | Interest (p.a.) | EMI |
|---|---|---|---|
| Rs.50 Lakh | 20 years | 7.25%* | Rs. 39,519 |
EMI for a Rs.50 Lakh Home Loan for a tenure of 15 years
| Loan Amount | Tenure | Interest Rate (p.a.) | EMI |
|---|---|---|---|
| Rs.50 Lakh | 15 years | 7.25%* | Rs.45,643 |
EMI on a Home Loan of Rs.50 Lakh for a tenor of 10 years
| Loan amount | Tenor | Interest (p.a.) | EMI |
|---|---|---|---|
| Rs.50 Lakh | 10 years | 7.25%* | Rs. 58,701 |
Disclaimer: The interest rate and EMI calculations shown above are for illustration purposes only. Actual interest rates, loan terms, and EMI amounts may vary based on the applicant's profile, eligibility, and specific loan requirements.
How to Improve Your Eligibility for a Home Loan?
Improving your Home Loan eligibility can help you secure better terms. Here are a few effective ways to improve your chances of being approved for a Home Loan of Rs.50 Lakh:
- Maintain a Good Credit Score: Aim for a score of 750 or higher by paying your EMIs and credit card bills on time and reducing outstanding debt
- Declare All Income Sources: Include income from all sources, such as rental income to improve your repayment capacity
- Reduce Existing Debt: Try to close or reduce ongoing loans and credit card balances before applying, as it improves your debt-to-income ratio.
- Apply with a Co-applicant Adding a financially stable co-applicant, like a spouse or parent, can improve your loan eligibility.
Interest Rate on Rs.50 Lakh Home Loan
Looking for competitive interest rates on Home Loans? Click here to check the interest rates offered by Bajaj Housing Finance.
Essential Things to Know Before Applying for a Housing Loan
Here are some essential things you should assess before applying for a housing loan:
- Maintain a healthy credit score of 750 or above.
- Understand how much loan you’re eligible for based on your income, age, and existing liabilities.
- Use a Home Loan EMI Calculator to know your EMIs beforehand.
- Start saving early for the down payment.
- Account for additional costs like processing fees, stamp duty, and registration charges.
Steps to Apply for a Home Loan of up to Rs.50 Lakh
The steps to apply for a Home Loan with Bajaj Housing Finance are quick and easy. Follow the steps given below:
- Click on the ‘Apply Now’ button on our official website for Home Loan or visit our Home Loan application form.
- Enter your name, phone number and employment type.
- Select the type of loan you would like to opt for.
- Enter other details such as net monthly income, PIN code, and required loan amount.
- Enter the requested OTP to verify your phone number.
- Enter PAN, birth date, and other details depending on your loan amount and employment type.
After filling in the required details in the Home Loan application, our representative will contact you to discuss further.
*Terms and conditions apply.
FAQs
With Bajaj Housing Finance, you can expect a quick disbursal within 48 Hours* after document submission and verification.
Yes, a self-employed individual can apply for a Home Loan of Rs.50 Lakh with Bajaj Housing Finance, provided they meet the following eligibility criteria:
- Applicant should be an Indian (resident)
- Applicant should be between 25 and 70 years** of age.
- Applicant should be able to show a continuous business vintage of at least 3 years.
**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.
Self-employed applicants need to submit the following documents*** to apply for a Home Loan:
- KYC documents
- Mandatory documents such as PAN Card or Form 97
- Recent passport-size photographs
- ITR and Profit & Loss Statements for the past 2 years
- Bank statements for the previous 6 months
- Business proof demonstrating at least 3 years of business continuity (applicable to self-employed individuals and business owners)
***This list is indicative.
