A ₹65 Lakh home loan allows you to buy your dream home. The loan EMI depends mainly on the loan tenure and interest rate offered. Knowing this in advance will help you create a repayment strategy. An EMI calculator makes it easier to understand your financial commitment before taking out a loan.

You have the option to choose the tenure for your home loan. When you choose a longer tenure, such as 30 years, your monthly EMI will be reduced, but the overall loan interest will be higher. Similarly, a shorter tenure reduces your total loan costs, but you must commit to paying a higher monthly EMI.

The following table shows ₹65 Lakh home loan EMI at 8.75% p.a. for different tenures to help you compare:

The table below shows the EMI for a home loan of ₹65 Lakhs for 10 years and the total interest charges:

When you choose to pay your home loan over 20 years, associated details will be as follows:

For a 30-year tenure, the breakup of a home loan of ₹65 Lakhs is:

Bajaj Markets has partnered with the following leading lenders to offer ₹65 lakh home loans:

Before applying for a ₹65 lakh home loan, ensure you meet the eligibility requirements. Lenders evaluate several factors to determine if you qualify. Review these criteria to avoid complications during your application process:

For Salaried:

• Between 23 and 62 years of age

• Stable work experience of at least 3 years

• Steady annual income

• Good credit score

For Self-employed:

• Between 25 and 70 years of age

• More than 5 years of steady business operations

• Sufficient annual income to repay the loan

Common Documents for All Applicants:

• Identity Proof: PAN, Aadhaar, Passport, or Driving Licence

• Address Proof: Utility bills, rent agreements, or other official residential documents

• Bank Statements: Latest 6–12 months’ statements with transaction history

• Property Documents: Ownership proofs and agreements like sales deeds or builder agreements

• Passport-Sized Photos: Recent passport-sized photographs for application forms

• Loan Application Form: A duly filled and verified application form

Income Proof

For Salaried Applicants:

• Recent payslips (last 3–6 months)

• Form 16 or Income Tax Returns (ITR)

For Self-employed Applicants:

• Profit and loss statements

• Audited financials for the last 2–3 years

• Latest Income Tax Returns (ITR)

When you take a ₹65 lakh home loan, it's crucial to understand how the lone tenure and EMI would affect your finances. Here are some key things to consider before applying for a housing loan:

• Loan approval involves documentation verification. You need KYC documents, proof of income, and property-related documents before you apply for a loan. 

• EMI is usually determined based on interest rate and loan tenure. For properties under development, pre-EMI costs must also be considered.

• A pre-approved offer can speed up the loan disbursal and allow you to find a property later that fits your budget. Alternatively, if you find a property first, then you must look for a lender who can offer a loan that matches its price. 

• Various loan options are available, including fixed-rate loans, floating-rate loans, and hybrid loans. It's important to compare the EMIs and overall loan costs associated with each option to make an informed decision.

• Lenders approve loans based on eligibility. Understand the impact of your age, income, credit score, and financial position on loan interest rates. This can help you compare loans better.