₹60 Lakh Home Loan

Invest in your ideal Home with Axis Bank

Upgrade your home with ₹60 lakh Home Loan

For discerning individuals seeking significant financial growth, a ₹60 lakh loan from Axis Bank unlocks a world of possibilities. This substantial investment empowers you to acquire premier properties in prime locations, establish lucrative rental ventures, or even develop your own personalised real estate portfolio. We are committed to partnering with you in achieving your ambitious financial objectives.

₹60 Lakh Home Loan EMI for 10 Years

With the following details, let us calculate EMI for a ₹60 lakh home loan for 10 years.

Loan Amount (₹)	60,00,000
Tenure (years)	10
Interest Rate (p.a.)	8.75% - 9.15%

Note: Considering 8.75% interest in the below scenarios.

₹60 Lakh Home Loan EMI

	EMI for 10 Years	EMI for 15 Years	EMI for 20 Years	EMI for 25 Years
Equated Monthly Instalments (EMI in ₹)	75,196	59,967	53,023	49,329
Principal Amount (₹)	60,00,000	60,00,000	60,00,000	60,00,000
Interest Amount (₹)	30,23,526	47,94,045	67,25,434	87,98,585
Total Amount Payable (₹)	90,23,526	1,07,94,045	1,27,25,434	1,47,98,585

Similarly, you can calculate ₹60 lakh home loan EMI for 30 years or any other variation using Home Loan EMI Calculator

How to apply for ₹60 lakh Home Loan online at Axis Bank?

To apply for Axis Bank Online Home Loan

Assess your eligibility criteria before initiating the Home Loan application
Utilise the Home Loan Eligibility Calculator to determine the feasibility of the Home Loan
Navigate to the Axis Bank Home Loan page and select the "Apply Now'' option
Input your details and click Submit, specifying whether you are an existing or new customer. Provide your name, mobile number, email ID, city, and state
Await a call from an Axis Bank representative who will elucidate the product details
Complete the submission of all required documents
Upon approval, submit the property documents for verification
Expect approval within 15 days, contingent upon the availability of all necessary documents

Eligibility to get Home Loan of ₹60 lakh

Salaried employees (permanent government employees or those employed in reputable private companies) must be at least 21 years old when applying and should reach the age of 65 or the age of superannuation by the loan maturity date.
Professionals (e.g., doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretaries, and management consultants) or self-employed individuals within the income-tax bracket are eligible for a Home Loan of ₹60 lakh. The age limit in this case is 21 years at the loan application time and 65 years at the loan maturity.
The bank will consider factors such as annual income, number of dependents, employment status, existing assets, ongoing loan repayments, and credit score while evaluating the Home Loan for ₹60 lakh application. It is essential to verify your ability to afford the EMI for the ₹60 lakh Home Loan and ensure that the combined EMIs of all your loans do not surpass 40% of your take-home pay.

₹60 lakh Home Loan Fees and Charges

Up to 1% of the loan amount or ₹10,000 (whichever is higher) + GST (as applicable).
An upfront processing fee of ₹5,000 plus GST shall be collected at the time of application submission. The balance processing fee, as applicable, shall be collected at the time of loan disbursement.
The processing fee is a non-refundable fee collected by the Bank for the purpose of reviewing the loan application and same is independent of the outcome of such assessment.

Factors that affect interest rate applicable on a ₹60 lakh Home Loan

RBI’s repo rates – Since Home Loan rates are linked to the RBI’s repo rates, any change in the RBI’s rates will impact the Home Loan interest rate
Type of loan chosen – Whether it is a Floating Rate Home Loan or a Fixed Rate Home Loan will impact the interest rate. The interest rate on a Fixed Rate Home Loan is higher than a Floating Rate Home Loan
Your job profile and credit score also impact the interest rate. A borrower with a stable job and high credit score may get a Home Loan of ₹60 lakh at a better rate of interest

Documents required for ₹60 Lakh Home Loan

Mandatory Documents- Application Form and PAN Card
Any one of the following for Identity Proof - Passport, Aadhaar Card, Driving License, Voter ID
Any one of the following for Proof of Address- Aadhdaar Card, Gas Bill, Driving License, Voter Id, Electricity Bill, Telephone Bill (Landline) Property Tax Receipt, Job Card by NREGA duly signed by an officer of the State Government, Letter issued by National Population Register confirming details of Name, Address, Photograph
Any one of the following for Date of Birth proof - Passport, PAN Card, Aadhaar Card with DOB, Driving License, Birth Certificate, SSC Marksheet
Any one of the following for Signature Proof - Passport, PAN Card, Banker’s verification, Notarized affidavit with ID and Address proof (not applicable for financial applicant)

Additional Documents for Self-employed

2 years ITR, Computation of Income, P&L, Balance sheet with CA seal and sign
For Asha Home Loan - 1 year ITR, Computation of Income, P&L, Balance sheet with CA seal and sign
Tax Audit Report (required for individuals whose sales turnover exceed the norms stipulated by the Income Tax Act)
6 months bank statements of personal and business accounts
If ITR is filed without digital sign - CPC and tax paid challan
Three years business continuity proof