Details of a Home Loan of Rs.60 Lakh
Securing a Home Loan can be a major financial decision, often involving long-term repayment that can extend for many years. Thus, before applying, it is advisable for prospective homeowners to carefully consider the loan terms and features.
You can apply for a Home Loan of Rs.60 Lakh with Bajaj Housing Finance and enjoy a flexible repayment tenure of up to 32 years along with competitive interest rates that facilitate manageable monthly instalments.
Features and Benefits of a Home Loan of up to Rs.60 Lakh
If you are looking for a Home Loan worth Rs.60 Lakh, you can enjoy several benefits if you opt for Bajaj Housing Finance.
Minimal Documentation
Complete your Home Loan application process with minimal documentation from the comfort of your home.
Long Repayment Tenure
Enjoy a repayment tenure of up to 32 years, which can help you repay your EMIs comfortably.
Competitive Interest Rate
We offer a competitive interest rate starting at 7.99%* p.a. for salaried individuals. Your EMI can start with as low as Rs.722/Lakh*.
Top-up Loan for Housing Needs
When you transfer your loan balance to Bajaj Housing Finance, you not only stand to benefit from a lower interest rate and reduced EMIs, but you also get the option to avail of a Top-up Loan for home repair or renovation.
Loan Amount of Rs.5 Crore*
Avail of a sizeable Home Loan of Rs.5 Crore* or even higher, depending on your eligibility.
Disbursal in 48 Hours*
You can expect to receive the sanction within 48 Hours* following the approval of the application and documentation verification.
Eligibility Criteria for a Rs.60 Lakh Home Loan
The Home Loan Eligibility Criteria for Bajaj Housing Finance are simple and easy to meet. Here are the eligibility criteria that both salaried as well as self-employed individuals should meet to apply for a Home Loan:
| Parameters | Salaried Individuals | Self-employed Individuals |
|---|---|---|
| Experience | 3 years work experience | 3 years business vintage |
| Nationality | Indian citizen (including NRIs) | Indian citizen (resident only) |
| Age | 23 to 67 years** of age | 23 to 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.
Documentation required for a Home Loan of Rs.60 Lakh
A Rs.60 Lakh loan can be availed from either the online portal of Bajaj Housing Finance or by visiting your nearest Bajaj Finance office. Whether you are a salaried individual, a professional or a self-employed businessman, you are eligible for a Home Loan if you have the following documents*** ready with you:
For Salaried Individuals
- KYC documents for identity verification
- Mandatory documents such as PAN Card or Form 60
- 3 months’ salary slips for income proof
- Proof of employment
- Property related documents such as Title Deed, Property Tax Receipts, and Allotment Letter
For Self-Employed Individuals
- KYC documents for identity verification
- Mandatory documents such as PAN Card or Form 60
- P&L statements, among other documents, to prove a steady flow of income from the existing business operational for more than 3 years
- Proof of business
- Property related documents such as Title Deed, Property Tax Receipts, and Allotment Letter
*** Additional documents may be needed during loan processing.
EMIs for Rs.60 Lakh Home Loan over Various Tenures
The EMI calculator for a Home Loan can help you know the EMIs and payable interest in advance if you want to take a Rs.60 Lakh Home Loan. The table below shows EMI calculations for various repayment tenures:
Rs.60 Lakh Home Loan EMI for 32 Years
| Loan Amount | Tenure | Interest | EMI |
|---|---|---|---|
| Rs.60 Lakh | 32 years | 7.99%* | Rs. 43,340 |
Rs.60 Lakh Home Loan EMI for 20 Years
| Loan Amount | Tenure | Interest | EMI |
|---|---|---|---|
| Rs.60 Lakh | 20 years | 7.99%* | Rs. 50,149 |
Rs.60 Lakh Home Loan EMI for 10 Years
| Loan Amount | Tenure | Interest | EMI |
|---|---|---|---|
| Rs.60 Lakh | 10 years | 7.99%* | Rs. 72,765 |
*The values in the preceding tables are subject to change
Things to Consider Before You Apply for a Rs.60 Lakh Home Loan
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Check Your Eligibility for a Home Loan of up to Rs.60 Lakh
Your first step in the home-buying process can be planning your finances. Once this is done, set aside the necessary funds for the down payment on your new home. Next, determine the loan amount you can avail of based on your eligibility for a Home Loan. You can make use of a Home Loan Eligibility Calculator to check your loan eligibility online. This structured approach can help you smoothly transition into your new property with financial clarity. -
Check Your Credit Score
Keep track of your credit score to check if you can receive the Home Loan amount on favourable terms. Obtaining a loan can be easy if your credit score is above 750. In case it is lower, you can take steps to improve it, such as paying your Loan EMIs and credit card bills on time. -
Keep the Relevant Documents Handy
Check the list of documents you will need to apply for the Home Loan eligibility criteria and keep it handy while applying for a housing loan. You can apply online or by physically visiting a nearby branch.
Process to Apply for a Home Loan of Rs.60 Lakh
- Submit a Loan Application – With details such as your name, contact number, employment type, loan amount and the property for which you are seeking a loan.
- Documentation – You will have to attach certain documents for KYC and other purposes such as your Aadhaar Card, Driving License, bank account statements, 3 months' salary slips (for salaried employees), proof of business with a vintage of 3 years (for self-employed), and property documents. Please note, this is an indicative list, you may be asked for more documents.
- Verification and processing – Your documents will be verified along with other necessary checks.
- Sanction letter – Post successful verification of documents, you will get a sanction letter with details such as the loan amount, interest rate, and repayment tenure.
Once all steps are done, you will receive a final agreement after the lender has performed all checks and your loan amount will be disbursed.
Following Home Loan disbursement and property possession, you can get done with the registration process by clearing the registration fee and stamp duty. Your lender will keep the original registry paper till you repay the loan completely.
*Terms and conditions apply.
For a salaried applicant, EMI for a Rs.60 Lakh Home Loan for 25 years at an interest rate of 7.99%* p.a. will be Rs.47,307 approximately. You can also use our EMI calculator to try various values and arrive at a suitable EMI amount.
A salaried applicant opting for a Rs.60 Lakh Home Loan for 20 years tenure at an interest rate of 7.99%* p.a. would have an approximate EMI of Rs.51,124.
The repayment tenure for a Rs.60 Lakh Home Loan with Bajaj Housing Finance extends up to 32 years.
Yes, you can get a Rs.60 Lakh Home Loan with Bajaj Housing Finance at a feasible interest rate and long repayment tenure along with quick disbursal.
With our Home Loan EMI Calculator, calculating EMIs for a Rs.60 Lakh Home Loan is easy. Here is how to use it:
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Visit our Home Loan EMI Calculator.
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Enter the loan amount.
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Select the loan tenure.
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Enter the applicable interest rate.
You will be able to see the approximate EMI amount instantly.
