5.7cr+
Satisfied Customers
Affordable Housing
10 Lakh Home Loan
Perfect for PMAY beneficiaries and affordable housing projects. Get quick approval for smaller ticket sizes with minimal documentation.
65+
Lending Partners
Rs.65k Cr+
Loans Disbursed
Loan Details
₹10 Lakh Home Loan Calculator
Calculate your EMI and total interest for a ₹10 lakh home loan with flexible repayment options.
Instant Approval
No Hidden Charges
100% Digital Process
Representative Example:
Borrow ₹10,00,000 over 12 months at 9.99% APR. Total repayment: ₹10,54,934.84 with monthly EMIs of ₹87,911.24.
EMI Calculator
Select Your Bank
Enter Loan Amount
₹10,00,000
50K50L
9.99
8%30%
1
1Y10Y
Monthly EMI
₹87,911.24
Total Interest
₹54,934.84
Why Opt for a Home Loan of Rs. 10 Lakh?
A Rs. 10 lakh home loan is an affordable financing option specifically designed for:
- Constructing a home on an existing plot in Tier 2/3 cities
- Home extension (adding a floor or room)
- Extensive home renovation and repairs
- Purchasing affordable housing under government schemes (PMAY)
Eligibility Criteria for a Rs. 10 Lakh Home Loan
Eligibility for a smaller ticket size is generally accessible:
- Age: 21 to 65 years
- Employment: Salaried or Self-employed with regular income
- Minimum Income: Approx. Rs. 15,000 - Rs. 20,000 per month
- Credit Score: 650+ is often accepted for this bracket
- Work Experience: Minimum 1-2 years
Documents Required
Essential documents include financial and property papers:
- KYC: PAN, Aadhaar, Voter ID
- Income Proof: Salary slips (3 months) or ITR (2 years)
- Bank Statements: Last 6 months
- Property Documents: Sale deed, NOC from society/builder, estimate of construction (if applicable)
Interest Rate on Rs. 10 Lakh Home Loan
Home loan interest rates are lower than personal loans, typically starting from 8.50% p.a. Rates depend on your credit score and the loan-to-value (LTV) ratio.
- Repo Rate Linked Interest Rates
- Credit Score Impact
- Women borrowers often get 0.05% concession
- Loan-to-Value Ratio
Fees & Charges
Standard charges applicable:
- Processing Fee: 0.5% to 1% of the loan amount + GST
- Legal & Technical Verification Charges: At actuals
- CERSAI Charge: Nominal fee (approx Rs. 50-100)
- Stamp Duty: As per state regulations
How a ₹10 Lakh Home Loan Impacts Your Credit Score
Managing a home loan responsibly is excellent for your credit health:
- Long-term Boost: Regularly paying EMIs over a long tenure (10-15 years) significantly builds credit history.
- Credit Mix: Adding a secured loan (home loan) to your profile improves your 'Credit Mix', boosting your score.
- Missed Payments: Defaulting on secured loans has a severe negative impact.
- Reduced Utilization: A home loan doesn't eat into your credit card limit, keeping utilization low.
Tips to Get Approved
Simple steps to ensure smooth approval:
- Ensure the property has a clear legal title
- Maintain a credit score above 700
- Clear existing small debts to improve DTI ratio
- Apply with a co-applicant (spouse) to boost eligibility
Benefits of a Rs 10 Lakh Home Loan
Key advantages include:
- Tax Benefits: Deduction on Principal (80C) and Interest (24b)
- Low Interest Rates compared to other loan types
- Long Tenure: Up to 30 years for low EMI burden
- PMAY Subsidy: Eligible for interest subsidy under CLSS (if applicable)
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