Home Loan up to Rs.25 Lakh

With a Bajaj Finserv Home Loan, you can get approved for a sanction of Rs.25 lakh and also enjoy a range of value-added benefits. This sum can comfortably cater to many of your financing needs, be it purchasing your first home, constructing it or simply refinancing an existing loan. Further, you also enjoy the benefit of a flexible loan tenor and a competitive interest rate to keep your 25 lakh home loan EMI in check.

Read on for a better understanding of the eligibility criteria attached to this offering and the applicable EMIs on a 25 lakh home loan for 20 years or less.
 

Eligibility Criteria for Rs.25 Lakhs Home Loan

To qualify for a home loan of 25 lakh from Bajaj Finserv, all you have to do is meet the relaxed eligibility criteria, which are as follows.

• You must be a residing citizen of India
• You must be between 23 and 62 years of age, if salaried, or between 25 and 70 years of age, if self-employed
• You must maintain stable employment with work experience of at least 3 years, if salaried
• You must have a stable business, running for at least 5 years, if self-employed
• You must meet the minimum income requirement for your city
  

  You are also required to furnish minimal documentation to prove your eligibility.

• Basic KYC like Aadhaar card or PAN card
• FORM 16 or latest salary slips of past 3 months for salaried individuals
• TR document or P&L statement of the last 2 years for self-employed individuals
• Bank account statement of the last 6 months
• Proof of business with a minimum vintage of 5 years (For self-employed only)

 

Interest Rate for a Rs.25 Lakh Home Loan

On this Bajaj Finserv Home Loan, the applicable interest rate for salaried individuals is 8.60% and onwards and between 9.35% and 11.15% for those that are self-employed. Armed with this knowledge, you can accurately forecast your home loan EMI for a 25 lakh sanction using the EMI calculator.
 

25 Lakh House Loan EMI Details

To know your EMI breakup accurately when you borrow a 25 lakhs home loan, an EMI calculator is the best tool to go with. It uses key attributes like the principal amount, tenor and interest rate to automatically compute an error-free result. All you have to do when borrowing a home loan for 25 lakh is to set a static principal along with your housing loan interest rate and tweak the tenor to arrive at a suitable EMI structure.

For a detailed breakdown of the 25 lakh home loan EMI structure, read on.
 

EMI Calculations for a Home Loan of Rs.25 Lakh with Different Tenors

To clearly understand your monthly outgo at varying tenors on borrowing Rs.25 lakh via the Bajaj Finserv Home Loan, consider the following examples.
 

• EMI on a 25 lakh home loan for 20 years, 15 years and 10 years

  Loan Amount	EMI when Tenor is 10 Years	EMI when Tenor is 15 Years	EMI when Tenor is 20 Years
  Rs.25,00,000	Rs.33,038	Rs.26,865	Rs.24,126

The table has values that are subject to change.

 

EMI Calculation for Home Loans Lesser than Rs.25 Lakh

To know your 24 lakh home loan EMI or those applicable on a 22 lakh home loan, an EMI calculator is the best tool to go with. The following examples will help you help you gain more insight about the same.
 

• Home loan EMI on a sanction of Rs.22 lakh

  Loan Amount	Interest rate	Tenor (in Yrs.)	EMI
  Rs.22 lakh	10%	20	Rs.21,230

The table has values that are subject to change.

• Home loan EMI on a sanction of Rs.23 lakh

  Loan Amount	Interest rate	Tenor (in Yrs.)	EMI
  Rs.23 lakh	10%	20	Rs.22,195

The table has values that are subject to change.

• Home loan EMI on a sanction of Rs.24 lakh

  Loan Amount	Interest rate	Tenor (in Yrs.)	EMI
  Rs.24 lakh	10%	20	Rs.23,161

The table has values that are subject to change.

As you’ll notice, the 22 lakh home loan EMI is smaller in value and will result in lesser overall interest payments. Take note of this and borrow only as per your need to keep your EMIs as affordable as possible.