Home Loan up to 35 Lakh Details

The customised home loan offers by Bajaj Finserv are uniquely designed to cater to a wide range of financing requirements of intending borrowers. Irrespective of different requirements such as house purchase, construction, or refinancing an existing loan, Bajaj Finserv Home Loan can be your ideal choice. Therefore, borrowers can conveniently avail 35 lakh home loan or more based on their eligibility.

Besides, Bajaj Finserv offers additional benefits such as PMAY subsidy, top-up loan, property dossier, online account management services, etc.

Take a look at the eligibility parameters explained below to avail of a home loan up to 35 lakh.

Eligibility Criteria for the 35 lakh Home Loan

To secure a housing loan from Bajaj Finserv without any hassle, individuals need to qualify for the home loan eligibility criteria mentioned below:

For salaried individuals

  • Age should be within 23-62 years**
  • Applicant must be an Indian resident
  • Work experience: Minimum 3 years

For self-employed individuals

  • Age should be within 25-70 years**
  • Must be an Indian resident
  • Must possess a business vintage of at least 5 years

Besides meeting these qualifying parameters, individuals need to submit the following documents required for home loan at Bajaj Finserv:

  • KYC documents
  • Latest salary slips/ Form 16
  • Profit and Loss statement, TR documents of previous 2 years
  • Bank account statement of last 6 months
  • Business existence proof showing 5 years of continuity

** The upper age limit is considered as age, at the time of loan maturity.

Interest Rate Applicable on Rs. 35 Lakh Home Loan

The applicable home loan interest rate for a 35 lakh home loan for salaried individuals and professional applicants starts at 6.75%*, if they’re able to meet the eligibility criteria.

However, individuals must stay aware of the housing loan rates as it determines the overall outstanding loan amount. Additionally, individuals can take assistance from an EMI calculator to obtain suitable results.

35 Lakh Home Loan EMI Details

To get a clear understanding of monthly instalments while securing a home loan of 35 lakh, individuals can use a home loan EMI calculator. This online device provides a comprehensive idea of repayment as the EMI value alters based on the interest rate and tenor.

Moreover, an EMI calculator for home loan will allow individuals to alter these determinants and find suitable results as per their affordability. Moreover, these online tools are free and easy to access.

Read on for more information on home loan EMI for 35 lakh home loans.

EMI Calculation for a 35 lakh Home Loan with Varying Tenors

Since the monthly instalment varies based on the tenor and interest rate, the following table will show you a clear picture of the same. Here, the interest rate is constant.

EMI for an Rs. 35 lakh home loan for 30 years

Loan Amount

Rs. 35 lakh

Interest Rate 

 6.75%*

Tenor

30 Years

EMI

Rs. 22,469


EMI for an Rs. 35 lakh home loan for 20 years

Loan Amount

Rs. 35 lakh

Interest Rate

6.75%*

Tenor

20 Years

EMI

Rs. 26,405


EMI for an Rs. 35 lakh home loan for 10 years

Loan Amount

Rs. 35 lakh

Interest Rate

6.75%*

Tenor

10 Years

EMI

Rs. 40,009


From the above classification, borrowers can see EMIs for a 35 lakh home loan and how it changes significantly depending on the tenor. Thus, individuals need to select a repayment tenor accordingly to find an instalment suiting their affordability.

EMI Calculations for a Home Loan Amount Lower than Rs. 35 lakh

On the other hand, if EMIs on 35 lakh home loans are unmanageable, you can always apply for a lower loan value. Moreover, an EMI calculator can help you to make an informed decision.

Here is the detailed explanation of choosing a lower loan quantum amount by keeping the interest rate and tenor unchanged.

34 lakh home loan EMI

  • Loan Amount: Rs. 34 lakh
  • Interest rate: 6.75%*
  • Tenor: 20 years
  • EMIs: Rs. 25,651

33 lakh home loan EMI

  • Loan Amount: Rs. 32 lakh
  • Interest rate: 6.75%*
  • Tenor: 20 years
  • EMIs: Rs. 24,142

31 lakh home loan EMI

  • Loan Amount Rs. 31 lakh
  • Interest rate: 6.75%*
  • Tenor: 20 years
  • EMIs: Rs. 23,387

Therefore, understanding the difference beforehand will allow borrowers to do proper financial planning. So, they can apply for a 35 lakh home loan or more from Bajaj Finserv, depending on their calculation and affordability.

For more information regarding loan products, application procedures and associated charges, feel free to connect to the executives of Bajaj Finserv.

*The Interest Rate mentioned are subjected to change, to know the latest rate visit here.