Home Loan for Private Employees

Check Home Loan for Private Sector Employees Interest Rate, Eligibility, & Documents Required

✓ Home Loan from ₹2 Lakhs To ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.50%

When you are an employee and live from paycheck to paycheck, buying a home of your own may seem like a distant dream. Gathering enough funds may seem to be a daunting task, however, a home loan is one of the easiest ways to cover this financial need. If you are a private employee and looking for affordable and low-interest home loans, there are a number of banks and NBFCs willing to welcome you. By fulfilling the basic minimum criteria, you can avail the benefit of a home loan for private employees, either short-term or long-term and accomplish your wish of purchasing a decent home for yourself. 

Home Loans for Private Employees: Benefits

Let's have a quick look at the benefits of a home loan for private employees.

  • Quick Approval of Loans: Housing loans for private employees are executed at a quicker pace. When your lender sees a regular inflow of cash into your account, the application, approval, and final disbursal can get over in a jiffy.

  • Simplified Prepayment: Got a bonus or some surplus funds? Get in touch with your lender and try making a partial or complete prepayment. After paying the first EMI, most lenders allow you to settle the loan anytime you want. 

  • High Loan Amount Sanction: Home loans for private-sector employees can go as high as ₹5 Crores or even more, depending on your eligibility and the facilities of the bank. 

  • Affordable Interest Rate: The affordable interest rate charged for private-sector employees starts from 6.99% making the repayment easy and practical. When the monthly EMI easily fits into your pocket, you wouldn’t have to delay a repayment ever.

  • A Flexible Repayment Tenure: The repayment tenure makes a big difference when you are looking for a home loan for private employees. You can avail a house loan for a tenure as high as 30 years. 

  • Overdraft Facility: When you need some extra financial support, your home loan may be able to get you the advantage of an overdraft. If your lender agrees, you can withdraw additional funds up to an agreed limit. 

  • Easy Insight: Due to the availability of several digital tools like web portals, mobile applications, etc. you can have a quick insight into the details of your preferred bank and loan at any time and from anywhere. 

Best Home Loans for Private Employees

There are several banks and NBFCs that have exciting home loans for private employees. Check out some of the most promising ones-


Basic Details


  • Age (21 to 60 years) 

  • Maximum loan tenure- 30 years 

  • No prepayment charges

Axis Bank 

  • Age (21 to 60 years) 

  • Loan up to ₹75 lakhs

  • No prepayment charges

IDFC First Bank 

  • Age (23-70 years) 

  • Minimum salary (1lakh/annum)

  • Maximum tenure- 360 months

Home Loan Eligibility Criteria for Private Employees

Check out the basic eligibility criteria that a private employee must fulfil to avail home loan for private employees-

  • Nationality: Indian

  • Age: 23 to 62 years

  • Employment Status: Minimum experience of 3 years 

  • CIBIL Score: 750 and above

  • Minimum monthly income: City-specific 

Home Loan Documents Required for Private Employees

There are a few documents you must not forget to take with you while applying for a home loan for private employees.

  • KYC Documents (Either passport, Aadhar Card, Voter Id card, or Driving Licence) 

  • Employee ID card 

  • Past 2 months salary slip

  • Past 3 months bank account statement

  • For Self-Employed, past 6 months bank account statement

  • Proof of business of past 5 years

How do Private Employees apply for Home Loans?

When you finalise the housing loan for private employees that you wish to apply for, the final step is to fill out the application form. For this, you can visit the nearest branch or the official website of the bank. For Bajaj Finserv home loans, the online application form for a home loan for private employees includes the following steps-

  • Step 1: Visit the home loan section on the website and click on apply now.

  • Step 2: Enter the details as asked like personal, financial, and employment details on the form.

  • Step 3: You need to pay the online fee to proceed further.

  • Step 4: Get all the documents required for home loan and upload them properly.

  • Step 5: The verification process will be carried out next before disbursal.

How much Home Loan can Private Employees Get

One question that might have popped up in your mind is how much home loan can a private employee get? The home loan received is majorly affected by your income and your age. The table given below, mentions the lump sum loan based on different income groups-


Monthly Income (INR 25,000-50,000)

Income (INR 70,000)

Approximate Expected Loan

25 years

₹ 18.64 to ₹ 37.28 lakh

₹ 55.93 lakh

30 years 

₹ 18.64 to ₹ 37.28 lakh

₹ 55.93 lakh

35 years 

₹ 18.64 to ₹ 37.28 lakh

₹ 55.93 lakh

40 years 

₹ 18.64 to ₹ 37.28 lakh

₹ 55.93 lakh

45 years 

₹ 18.64 to ₹ 37.28 lakh

₹ 55.93 lakh

50 years 

₹ 18.64 to ₹ 37.28 lakh

₹ 55.93 lakh

Disclaimer: The interest rates mentioned above are subject to change as per the norms and policies of the banks.

FAQs on Home Loans for Private Employees

  • ✔️Do home loans depend on salary?

    Yes. Your income plays a role in the home loan you receive. This is because one of the eligibility criteria for the home loan is the minimum monthly salary. However, it is not the only criteria. Your credit score plays an equally important role.