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Home Loan Up to ₹ 60 Lakh

Apply 60 Lakhs Home Loan Online

Last Updated 21st Sep 2021

  • A home loan for up to ₹ 60 Lakh can used to buy a house, a plot, or for home renovation or expansion.
  • To get the best offers apply for a ₹ 60 Lakh home loan online at MyLoanCare.
  • To calculate ₹ 60 lakh home loan EMI you can use a home loan EMI calculator.
Rates6.50% p.a Check Best Offers
Profession
  • Self-employed
  • Professionals
  • Salaried employees in government and corporate sectors
Minimum Income
  • ₹ 25,000 for salaried employees
  • ₹ 40,000 for self-employed
Age18 years to 70 years
Processing FeesNil to upto 0.5%
Apply for Home Loan @ 6.50%* Get upto ₹ 1,000* Cashback

Get Home Loan up to ₹ 60 Lakh

With home loans up to ₹ 60 Lakh Lakh you can buy a flat, land or constructed house as per your requirement. Home loans are offered by various Banks and NBFCs with simple eligibility criteria and competitive interest rate. If you wish to avail home loan up to ₹ 60 Lakh you can use a home loan EMI calculator to see how much EMI you will have to pay.

Eligibility Criteria for Home Loan of ₹ 60 Lakh

To avail a ₹ 60 Lakh home loan you must fulfill the following eligibility criteria, if the criteria is not followed banks may reject loan application:-

  • Age : There are few banks who may reject your home loan if you are less than 18 years and older than 70 years. Generally, you can apply for home loan up to ₹ 60 Lakh if you fall within the age range of 18 years to 70 years.
  • Employment Type : ₹ 60 Lakh home loan can be availed by salaried, self employed and business professional. However, salaried employees working in blue chip companies get loans easily at lower rates.
  • Income : Your home loan application will easily get approved if you are salaried and earn a minimum of ₹ 25,000 monthly. If you are self employed, your gross annual income should be ₹ 4,80,000 annually.
  • Credit Score : You should have a credit score above to get a home loan up to ₹ 60 Lakh. A good credit score will help you get a home loan approved easily.

Interest Rates for ₹ 60 LakhHome Loan

Bank NameInterest Rates
Kotak Bank
Compare
6.50%
Citibank
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6.50%
HSBC Bank
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6.55%
Axis Bank
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6.66%
ICICI Bank
Compare
6.75%
Karur Vysya Bank
Compare
7.15%
Standard Chartered Bank
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7.49%
RBL Bank
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7.90%
Yes Bank
Compare
8.95%
Edelweiss
Compare
9.25%

EMI for a Home Loan of Up to ₹ 60 Lakh with Different Tenors

EMI for a ₹ 60 Lakh home loan can be easily calculated using MyLoanCare’s EMI calculator. It can be easily done via basic information such as loan amount, interest rate and tenure. The table mentioned below offers a comprehensive overview of ₹ 60 Lakh home loan emi for different tenors:-

₹ 60 Lakh Home Loan EMI For 5 years:-

Loan Amount₹ 60 Lakh loan emi for 5 years
₹ 60 Lakh₹ 1,17,397

₹ 60 Lakh Home Loan EMI For 10 years:-

Loan Amount₹ 60 Lakhloan emi for 10 years
₹ 60 Lakh₹ 68,129

₹ 60 Lakh Home Loan EMI For 15 years:-

Loan Amount₹ 60 Lakh loan emi for 15 years
₹ 60 Lakh₹ 52,266

₹ 60 Lakh Home Loan EMI For 20 years:-

Loan Amount₹ 60 Lakh loan emi for 20 years
₹ 60 Lakh₹ 44,734

Home Loan EMI Calculation for Loan Amount Lower Than ₹ 60 Lakh

Let us assume that you have availed a home loan for a tenure of 10 years at the lowest rates beginning from 6.50%. So, the EMI for loan changes in the proportion of a change in principal amount lower than ₹ 60 Lakh.

Loan Amount10 Years Tenure EMI
₹ 51 Lakh home loan emi₹ 57,909
₹ 52 Lakh home loan emi₹ 59,045
₹ 53 Lakh home loan emi₹ 60,180
₹ 54 Lakh home loan emi₹ 61,316
₹ 55 Lakh home loan emi₹ 62,451
₹ 56 Lakh home loan emi₹ 63,587
₹ 57 Lakh home loan emi₹ 64,722
₹ 58 Lakh home loan emi₹ 65,858
₹ 59 Lakh home loan emi₹ 66,993

Documents Required to Get Home Loan Up to ₹ 60 Lakh

Following documents required to get home loan for up to ₹ 60 Lakh:-

DocumentsSalariedSelf employed
Application form with passport size photographs
Identity proof- PAN Card (Mandatory) and Aadhar card
Address proof- passport, Aadhaar card, voter ID card, landline bill, registered rent agreement, driving license, bank statement or passbook or utility bill
Income proof- Last 3 years Form 16, last 6 months salary slip, last 6 months bank account statement showing salary credit Last 3 years ITR (self and business), profit and loss account, balance sheets certified/audited by a CA
Property documents- Registered Sale Deed/ Conveyance/ Lease Deed, Builder buyer agreement, receipts of payment made, allotment letter
House tax return
Business proof- Certificate and Proof of Business Existence and Business Profile

Steps to Apply for Home Loan Up to ₹ 60 Lakh

Here is a step-by-step guide to help you avail avail a home loan up to ₹ 60 Lakh:

  • Step 1: You can visit the official website of MyLoanCare.
  • Step 2: Go to Home Loans option or fill above form.
  • Step 3: Fill in the form with necessary details like name, pin code, phone number, loan amount.
  • Step 4: Click on ‘Get Quote’ and enter the OTP received on your mobile phone
  • Step 5: Click on ‘Submit’
  • Step 6: You will get the offers as per your eligibility.
  • Step 7: MyLoanCare’s executive will contact you within some time and help you with the further process.

FAQs

Which bank is best for a Home Loan of up to ₹ 60 Lakh?

Currently, Kotak Bank and Citibank are the best banks because they offer home loans at a lower interest rate of 6.50% and 6.50%, respectively. However, based on customer service, DCB Bank is the best bank for ₹60 Lakh home loan, with a rating of 5/5.

Can I get a ₹ 60 Lakh home loan without collateral?

No, you cannot get a ₹ 60 Lakh home loan without collateral because home loan is a secured loan. A secured loan is one against which you have to pledge your asset.

What are the factors that affect EMI of ₹ 60 Lakh Home Loan?

Factors like loan amount, tenure and interest rate affects the EMI of home loan up to ₹ 60 Lakh. Higher the loan amount and interest rate higher the EMI, higher the tenure, lower the EMI and vice versa.

What is the Interest Rates for ₹ 60 Lakh SBI Home Loan?

SBI is offering an interest rate of 6.65% pa for ₹ 60 Lakh SBI home loan. Also, it charges a processing fee of 0.40% , Min ₹ 1,000, Max ₹ 30,000 on a home loan amount.


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Home Loan News - Sep 2021
  • 2021-09-20 : PNB Introduces Festival Bonanza Offer
    Punjab National Bank (PNB) has introduced a festival bonanza offer under which they reduced home loan interest to 6.80%. Also, the lender has waived off processing fees and documentation charges on all retail loans like home loans, personal loans, car loans, gold loans, property loans. These charges are valid till December 31, 2021.
  • 2021-09-17 : Bank of Baroda Slashes Home Loan Interest Rate
    Bank of Baroda (BOB) has introduced a festive offer #KhushiyonKaShreeGanesh. The lender has reduced the home loan interest rate to 6.75%. Along with a slashed interest rate the bank has also waived off processing fees.
  • 2021-09-17 : SBI Bring Down Home Loan Interest Rate
    State Bank of India (SBI) has slashed home loan interest rate by 45 bps (basis points). A customer whose cibil score is above 800 can get a home loan at a lowest rate of 6.70% and whose score is in between 750-800 will get a loan at a rate of 6.80%.
  • 2021-09-14 : DCB Bank Revises MCLR Rate
    DCB Bank has revised the Marginal Cost of Funds Lending Rate (MCLR) for different tenures. Now, the one-year and six-month MCLR are 9.02%. Three-months MCLR is at 8.77%, one month and overnight MCLR is 8.07%.
  • 2021-09-10 : Kotak Mahindra Bank Cuts Home Loan Interest Rate
    Kotak Mahindra Bank has reduced the home loan interest rate by 15 basis points (bps), ahead of the festive season. Currently, the minimum rate of interest is 6.50%, the special rate is applicable from 10 September 2021 to November 8, 2021.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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