Home Loan EMI Calculator
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10 Lakh Home Loan

Secure your dream of owning a home with Axis Bank

Build an asset with a Rs 10 lakh Home Loan

Elevate your living standards and invest in a brighter future with a Home Loan of Rs 10 lakh from Axis Bank. Unlock possibilities for a comfortable living, enhanced comfort, and potential property appreciation. Our experienced financial advisors offer tailored solutions and comprehensive support to guide you through the process. Enjoy a seamless application process, hassle-free approval and quick sanction of Home Loan for Rs 10 lakh.

10 Lakh Home Loan EMI for 10 Years

Let us calculate the monthly EMI for a 10 lakh home loan with the following details. Note, that the home loan interest rate for 10 lakhs may vary.

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

Note: Considering 8.75% interest rate in the below scenarios.

10 Lakh Home Loan EMI for 10 Years

EMI of 10 lakh home loan for 10 years will be:

Equated Monthly Instalments (EMI in ₹)12,533
Principal Amount (₹)10,00,000
Interest Amount (₹) 5,03,921
Total Amount Payable (₹)15,03,921

10 Lakh Home Loan EMI for 15 Years

For a 15-year tenure, a home loan of 10 lakhs will have an EMI of:

Equated Monthly Instalments (EMI in ₹)9,994
Principal Amount (₹)10,00,000
Interest Amount (₹) 7,99,008
Total Amount Payable (₹)17,99,008

10 Lakh Home Loan EMI for 20 Years

EMI on a 10 lakh home loan for 20 years will be:

Equated Monthly Instalments (EMI in ₹)8,837
Principal Amount (₹)10,00,000
Interest Amount (₹) 11,20,906
Total Amount Payable (₹)21,20,906

10 Lakh Home Loan EMI for 25 Years

10 lakh home loan EMI details for a tenure of 25 years will be:

Equated Monthly Instalments (EMI in ₹)8,221
Principal Amount (₹)10,00,000
Interest Amount (₹) 14,66,431
Total Amount Payable (₹)24,66,431

Likewise, you can calculate ₹10 lakh Home Loan EMI for 5 years using Axis Bank Home Loan EMI Calculator.


To initiate the Axis Bank Online Home Loan process:

  • Review your eligibility criteria before proceeding with the Home Loan application
  • Utilize the Home Loan Eligibility Calculator   to assess your ability to afford the Home Loan
  • Go to the Axis Bank Home Loan webpage and select the "Apply Now" button
  • Complete the required details and click on Submit (verify whether you are an existing or new customer, providing your name, mobile number, email ID, city, and state)
  • Await a call from the Axis Bank representative to discuss product details.
  • Submit all necessary documents.
  • Upon approval, submit property documents for verification.
  • Obtain approval within 15 days, contingent upon the availability of all required documents.

 

  • Salaried employees (permanent government employees or those working in reputable private companies) must be above 21 years of age when applying, with a maturity age of 65 years or at the time of superannuation.
  • Professionals and self-employed individuals falling within the income-tax bracket are eligible for a Home Loan of Rs 10 lakh, with an age limit of 21 years at the time of application and 65 years at loan maturity.
  • The bank considers annual income, number of dependents, employment status, existing assets, ongoing loan repayments, and credit score when evaluating applications for a Home Loan of Rs 10 lakh. The bank ensures that the Rs 10 lakh Home Loan EMI is affordable and that the combined EMIs of all loans do not exceed 40% of your take-home pay.

 

 

  • Home Loan Processing fee is 1% of the principal amount, with a minimum of Rs 10,000 + GST.
  • Non-refundable processing fee is Rs 5000 + GST.

 


Documents required for a ₹10 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 - Aadhaar 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 applicants)


Additional Documents for Salaried Individuals ₹10 Lakh Home Loan:

Any one of the following for proof of income:

  • Pay slips for 3 months
  • Pay slips for 6 months showing all deduction for variable income
  • 6 months bank statement showing salary credits
  • 2 years Form 16 (or employment continuity proof)

For NRI salaried individuals:

  • Pay slips for 3 months
  • Appointment letter/contract letter
  • Continuous Discharge Certificate for Shipping cases
  • 6-month Domestic NRE/NRO A/C statement
  • 6 months international Salary A/C statement
  • Overseas credit report
  • Valid visa copy/OCI card
  • Passport copy
  • POA details

Additional Documents for Self-employed Individuals ₹10 Lakh Home Loan:

  • 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

Factors that affect interest rate applicable on a ₹10 Lakh Home Loan:

  • RBI’s repo rates -Changes in the RBI’s rates impact Home Loan interest rates
  • Type of loan chosen - A Floating Rate Home Loan generally has a lower interest rate compared to a Fixed Rate Home Loan
  • Job profile and credit score also affect the interest rate. A stable job and high credit score may result in a better interest rate for Home Loan for Rs 10 lakh


Frequently Asked Questions:

A credit score above 750 is considered good and increases the likelihood of loan approval.

No, you need documents showing KYC, income proof, and property and stamp duty papers for the house you are purchasing.

Ideally, your income should be 3-4 times the loan amount to ensure affordability of the Rs 10 lakh Home Loan EMI without financial strain.



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