With a home loan of ₹45 Lakhs, you can comfortably purchase the house of your dreams. Today, you can easily access a home loan of this amount online in a few clicks with the relevant documents at hand. Based on your means, age, years left to retirement and budget, you can choose various tenures over which to repay your ₹45 Lakh home loan EMIs.

It is important to know the EMI you will be required to pay based on your choice of tenure. Here is an overview of the different EMIs you may be asked to pay based on the duration if the interest rate is set at 8.65% p.a.:

The following provides a quick look at the probable EMI for a home loan of ₹45 Lakhs with a 10-year tenure:

*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

Here is what the EMI for  a home loan of ₹45 Lakhs may look like when you choose a 20-year tenure:

*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

The table below provides a probable breakdown of your loan costs when the tenure is set at 30 years:

*Disclaimer: The values mentioned above are indicative. Check the actual payable EMIs with your lender before applying.

Here are some requirements most lenders need you to fulfil to be eligible for a home loan of ₹45 Lakhs:

• You must be an Indian citizen and resident

• For self-employed applicants

  • Age: 25 to 70 years 

  • Business vintage: At least 5 years

• For salaried applicants

  • Age: 23 to 62 years

  • Work experience: At least 3 years

• Also, submit the documents listed below:

• KYC Documents:

  • Proof of Address: Aadhaar card, passport, utility bills, etc.

  • Proof of Identity: Aadhaar card, PAN card, voter ID, driving licence, etc.

• Proof of Income:

  • For Self-employed: 

    • Business licence details

    • TDS certificate

    • Profit and loss statement of the previous 3 years

    • ITR filings of the previous 2 years

    • Latest balance sheet of the business, audited by a certified CA

    • Certificates proving their qualification for self-employed professionals

  • For Salaried:

    • Form 16

    • Salary slips of the previous 3 months

    • ITR filings of the previous 2 years