Home loan up to Rs. 50 lakhs Details
This tailored housing loan from Bajaj Finserv offers a sanction of up to Rs. 50 lakhs, ideal for borrowers looking to purchase a home. It comes with a competitive interest rate and has lengthy repayment terms that go up to 40 years. This helps you keep your EMIs affordable while ensuring the cost of borrowing isn’t high.
Our home loan has many benefits, one of which is that it offers the property dossier, which can be immensely helpful to both first-time home buyers and those with prior experience.
What’s more, it comes with the home loan EMI calculator. This tool is easy to use, offers quick results, and is always accurate. It helps you plan the loan in a more efficient manner. Use it to make crucial financial decisions based on accurate calculations.
Home Loan EMIs for Loans of Rs. 50 Lakh
Here are a few tables to offer insight into the EMIs payable for different conditions. You can also use our home loan calculator to calculate EMIs for different loan amounts with different tenors.
Condition 1: When the tenor varies for a loan amount of Rs. 50 lakhs availed at an interest rate of 8.45%* p.a.
Loan Amount |
Interest Rate |
Tenure |
EMI |
Total Interest |
Total Amount Payable |
Rs. 50 lakh |
8.50%* p.a. |
10 years |
Rs. 61,859 |
Rs. 10,23,067 |
Rs. 60,23,067 |
Rs. 50 lakh |
8.50%* p.a. |
15 years |
Rs. 49,091 |
Rs. 14,04,093 |
Rs. 64,04,093 |
Rs. 50 lakh |
8.50%* p.a. |
20 years |
Rs. 43,233 |
Rs. 18,03,939 |
Rs. 68,03,939 |
Rs. 50 lakh |
8.50%* p.a. |
25 years |
Rs. 40,093 |
Rs. 22,22,216 |
Rs. 72,22,216 |
Rs. 50 lakh |
8.50%* p.a. |
30 years |
Rs. 38,269 |
Rs. 27,51,655 |
Rs. 77,51,655 |
How to apply Rs. 50 lakh home loan
Here is the step-by-step guide to applying for a home loan of Rs. 50 lakh:
- 1 Click on the 'APPLY' button on this page.
- 2 Enter your full name, mobile number, and employment type.
- 3 Now select the type of loan you wish to apply for.
- 4 Generate and submit your OTP to verify your phone number.
- 5 Upon OTP verification, enter additional details like your monthly income, required loan amount, and if you have identified the property.
- 6 In the next steps, enter your date of birth, PAN number and other details as requested depending on your selected occupation type.
- 7 Click on the ‘SUBMIT’ button.
That is it! Your application is submitted. Our representative will connect with you and guide you through the next steps.
Eligibility criteria* for availing home loan up to Rs. 50 lakhs
The eligibility criteria for home loan are crucial to the application process. To ensure you get fast approval, meet these requirements.
-
Nationality
Indian
-
Age
23 years to 65 years for salaried individuals, and 23 years to 70 years for self-employed applicants
-
Employment status
At least 3 years of experience for salaried borrowers, and at least 5 years of business continuity for self-employed individuals
-
CIBIL score
Check your CIBIL Score for FREE725 or higher
Interest rates and charges
Check the current home loan interest rates and additional fees and charges on your home loan.
*Conditions apply
Frequently Asked Questions
Eligibility for a Rs. 50 lakh home loan typically depends on factors like income, credit score, employment stability, and existing debts. Generally, salaried individuals earning above Rs. 30,000 per month and self-employed individuals with a steady income may qualify, ensuring they can manage the EMI comfortably.
Getting a Rs. 50 lakh home loan with a Rs. 20,000 salary is challenging. Lenders typically require a higher income to sanction such a loan. Your eligibility depends on factors like your credit score, existing financial obligations, and the loan tenure. Consider using a home loan eligibility calculator to assess your chances.
The maximum salary required for a Rs. 50 lakh home loan depends on various factors like interest rates, loan tenure, and existing liabilities. Generally, lenders may require a monthly salary of at least Rs. 80,000 to Rs. 1,00,000 for eligibility. A higher salary increases loan approval chances and EMI affordability.
