Features and benefits of 40 lakh home loan

  • Online application

    Online application

    Get your home loan without stepping out of your home with our 100% digital processes.

  • Tailored repayment

    Tailored repayment

    Pick a tenor that ranges up to 30 years to repay comfortably, based on your capabilities.

  • PMAY benefit

    PMAY benefit

    Avail the interest subsidy of up to Rs. 2.67 lakh under the CLSS component as an eligible PMAY beneficiary.

  • Balance transfer facility

    Balance transfer facility

    Transfer the home loan from your existing lender to us quickly and with minimal documentation to avail better terms.

  • Additional finance

    Additional finance

    Get a top-up loan to access funds for a variety of needs on cost-effective terms. Use it without any restriction.

Home loan up to Rs. 40 lakh details

Bajaj Finserv home loan is a feature-rich housing solution that offers high-value financing alongside convenient repayment terms. Through this specialized offering, you can qualify for and avail of a sanction of up to Rs. 40 lakh with ease. Get the loan at a competitive interest rate and a flexible tenor when you meet our simple eligibility criteria. Repay over a lengthy period of up to 30 years, thus ensuring that your monthly instalments are budget-friendly.

Our loan also comes with online tools such as the home loan EMI calculator. Using it, you can plan your loan, know more about the EMIs payable, and find the best tenor for your budget. To help you make this decision, here are a few tables you can refer to.

EMI Calculation for a 40 Lakh Home Loan with varying Tenors

To get the estimates of EMI of 40 lakh home loan with different tenor, consider the examples with the applicable interest rate set at 7.20%*.

EMIs on a 40 lakh home loan for 30 years

Loan Amount

Interest rate

Tenor (in Yrs.)

EMI

Rs. 40 lakh

7.20%*

30

Rs. 25,679


EMI on a 40 lakh home loan for 20 years

Loan Amount

Interest rate

Tenor (in Yrs.)

EMI

Rs. 40 lakh

7.20%*

20

Rs. 30,177


EMI on a 40 lakh home loan for 10 years

Loan Amount

Interest rate

Tenor (in Yrs.)

EMI

Rs. 40 lakh

7.20%*

10

Rs. 45,725


The table has values that are subject to change.

Considering the interest rate at 10%, here are the EMIs for different principal amounts and tenors.

Loan details

Tenor of 20 years

Tenor of 15 years

Rs. 35 lakh home loan

Rs. 33,776

Rs. 37,611

Rs. 32 lakh home loan

Rs. 30,881

Rs. 34,387

Rs. 30 lakh home loan

Rs. 28,951

Rs. 32,238


*The table has values that are subject to change.

Eligibility criteria for Rs. 40 lakhs home loans

The housing loan eligibility criteria for this instrument are very simple and easy to meet. Here is a list of the terms you should be aware of.

Criteria

Self-employed

Salaried

Age (in years)

25 years - 70 years

23 years - 62 years

CIBIL score

750 +

750 +

Citizenship

Indian

Indian

Monthly income

NA

1. Under the age of 37 years: Rs. 30,000

2. 37-45 years: Rs. 40,000

3. Above 45 years: Rs. 50,000

Work experience/ business continuity (in years)

5 years

3 years

 

*Please note that the eligibility list mentioned above is indicative. Terms and conditions apply.

Interest rate and fees

Bajaj Finserv offers some of the most competitive home loan interest rates in the market, thus enabling you to borrow on cost-effective terms.

Read the complete fees and charges applicable on Bajaj Finserv Home Loans and make an informed choice.

*Conditions apply