₹85 Lakh Home Loan EMI

Knowing the ₹85 Lakh home loan EMI will help you understand how your home loan repayment will impact your monthly cash flow. This allows you to assess loan affordability and find ways to reduce loan costs. A well-planned EMI schedule keeps your finances on track.

EMIs for ₹85 Lakh home loan differ significantly based on the loan terms. A detailed comparison helps you optimise both your monthly budget and total repayment.

The following table gives you EMI for an ₹85 Lakh home loan at 9.25% p.a. for different tenures:

Understand the EMI for a home loan of ₹85 Lakhs for 10 years and total interest charges from the table below:

The loan costs and EMI for an ₹85 Lakh home loan when the loan tenure is 20 years will be:

The home loan of ₹85 Lakhs is as follows for a 30-year tenure:

Bajaj Markets has partnered with the following leading lenders to offer ₹85 Lakh home loans:

Ensure you meet the eligibility criteria before applying for a ₹85 Lakh home loan. Eligibility requirements could differ depending on the lender. Lenders evaluate various factors given below to determine whether you qualify. 

For Salaried Individuals:

• Aged between 23 and 62 years

• Must have at least 3 years of continuous employment

• A steady annual income

• A good credit score

For Self-Employed Applicants:

• Must be between 25 and 70 years

• Business operations should have been stable for more than 5 years

• Annual income suitable for repayment

Documents Common to All Borrowers:

• Identity Proof: Valid documents are a PAN card, Aadhaar card, passport, or driving licence

• Address Proof: Present all utility bills, lease agreements, or other official proofs of your residence

• Banking Documents: Show the last 6 to 12 months' bank statements to indicate a steady financial position

• Property Papers: Include any owner proof, sale deeds, and agreements connected to the property

• Photos: Passport-sized photographs may need to be attached along with your application

• Loan Application: A loan application must be filled out with accurate details

Proof of Income Documents

For Salaried Individuals:

• Attach payslips for the previous 3 to 6 months

• Attach Form 16 or its photocopies of Income Tax Returns - ITR that have been issued recently

For the Self-Employed:

• Profits and loss statements for the recent year

• Attach audit reports of the past 2-3 years 

• Attach copies of the latest ITR