Home loan up to Rs. 12 Lakh

Bajaj Finserv offers home loans that cater to a wide range of housing finance requirements. Starting from purchasing a property to refinancing a current loan, it can meet every necessity. With this housing credit facility, you can to get up to 12 lakh home loan and more depending on your eligibility.

Moreover, you get to enjoy tailored benefits such as repayment flexibility, PMAY benefits, top-up loan, and online account management, to name a few.

Read on to know more about the eligibility criteria of home loan up to 12 lakh.

Eligibility criteria for the 12 Lakh home loan amount

The eligibility criteria for a home loan are stated below:

For salaried individuals:

  • Age**: 23 to 62 years of age
  • Work experience: At least 3 years

For self-employed individuals:

  • Age**: 25 to 70 years of age
  • Business vintage: At least 5 years of business continuity

Apart from these:

  • One must meet the minimum CIBL score requirement, i.e., 750
  • Belong to the selected cities where Bajaj Finserv operates
  • Must be a resident of India

Along with meeting these eligibility parameters, you need to furnish the following documents as well to get a 12 lakh house loan:

  • KYC documents
  • Income proof (salary slips, form 16, P&L statement or turnover papers of last two years of a business)
  • Business proof stating at least 5 years of continuity
  • Bank account statement of last 6 months

**Maximum age considered at the time of loan maturity.

Interest rate applicable on Rs. 12 lakh home loan

The home loan interest rate for an Rs. 12 lakh loan starts from 7.70%* p.a for salaried professionals. Hence, it is ideal for keeping a tab on housing loan rates, as they determine the total outstanding amount.

12 lakh home loan EMI details

To learn more about monthly instalments, you can take the assistance of a housing loan EMI calculator. This online tool offers a detailed understanding of the repayment, as the instalment amount changes depending on loan tenor and interest rate.

With this housing Loan EMI Calculator, you can alter these values and find the best result as per your suitability. Additionally, these online tools are user-friendly and available for free.

For a better understanding of the EMI break-up, read on.

EMI calculation for a 12 Lakh Home Loan with varying tenors

Here is an example to demonstrate how home loan EMIs change depending on the loan tenor keeping the interest rate the same at 7.70%* p.a.

EMI for an Rs. 12 lakh home loan for 30 years

Loan Amount

Rs. 12 lakh

Interest Rate



30 Years


Rs. 8,556

EMI for an Rs. 12 lakh home loan for 20 years

Loan Amount

Rs. 12 lakh

Interest Rate



20 Years


Rs. 9,814

EMI for an Rs. 12 lakh home loan for 10 years

Loan Amount

Rs. 12 lakh

Interest Rate



10 years


Rs. 11,261

This above-mentioned example states how EMIs increase or decrease depending on the loan tenor. Hence, you can select a loan tenor accordingly to find an instalment amount that meets your affordability.

EMI calculations for a Home Loan amount lower than Rs. 12 Lakh

In case the monthly instalment of a 12 lakh home loan seems steep and difficult to manage, in that case, you can opt for a lower loan amount. In this case, as well, access to an online EMI calculator can be fruitful.

Here is an example to clarify the difference keeping the interest rate and tenor unchanged:

For an Rs. 10 lakh home loan

  • Loan principal: Rs. 10 lakh
  • Interest rate: 7.70%*
  • Tenor: 20 years
  • EMIs: Rs. 7,873

For an Rs. 8 lakh home loan

  • Loan principal: Rs. 8 lakh
  • Interest rate: 7.70%*
  • Tenor: 20 years
  • EMIs: Rs. 6,299

For an Rs. 6 lakh home loan

  • Loan principal: Rs. 6 lakh
  • Interest rate: 7.70%*
  • Tenor: 20 years
  • EMIs: Rs. 4,724

Now you can understand how the change in principal amount alters your monthly installments. Therefore, you can now plan your finances accordingly and apply for a home loan with Bajaj Finserv to enjoy a wide range of benefits.