Home Loan EMI Calculator
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60 Lakh Home Loan

Invest in your ideal Home with Axis Bank

Upgrade your home with Rs 60 lakh Home Loan

For discerning individuals seeking significant financial growth, a Rs 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 for 10 Years

EMI for 60 lakh home loan will be:

Equated Monthly Instalments (EMI in ₹)75,196
Principal Amount (₹)60,00,000
Interest Amount (₹) 30,23,526
Total Amount Payable (₹) 90,23,526

60 Lakh Home Loan EMI for 15 Years

If you wish to apply for a 60 lakh home loan for 15 years, your approximate EMI will be:

Equated Monthly Instalments (EMI in ₹)59,967
Principal Amount (₹)60,00,000
Interest Amount (₹) 47,94,045
Total Amount Payable (₹)1,07,94,045

60 Lakh Home Loan EMI for 20 Years

The breakup of EMI for 60 lakh home loan for 20 years will be:

Equated Monthly Instalments (EMI in ₹)53,023
Principal Amount (₹)60,00,000
Interest Amount (₹) 67,25,434
Total Amount Payable (₹)1,27,25,434

60 Lakh Home Loan EMI for 25 Years

Let us look at the EMI for a 60 lakh home loan for 25 years.

Equated Monthly Instalments (EMI in ₹)49,329
Principal Amount (₹)60,00,000
Interest Amount (₹) 87,98,585
Total Amount Payable (₹)1,47,98,585


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



To commence the online Home Loan application process with Axis Bank:

  • 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

 

  • 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 Rs 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 Rs 60 lakh application. It is essential to verify your ability to afford the EMI for the Rs 60 lakh Home Loan and ensure that the combined EMIs of all your loans do not surpass 40% of your take-home pay.

 

 

  • For Home Loans a non-refundable processing fee of roughly 0.1% of the principal amount is charged. GST as applicable will be charged.


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 Salaried Individuals for Rs 60 lakh Home Loan
Any one of the following for proof of income

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

For NRI salaried

  • 3 months pay slip
  • 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 for Rs 60 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 ₹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 Rs 5 lakh at a better rate of interest


Frequently Asked Questions

Having a credit score above 750 is beneficial and increases the likelihood of loan approval.

No, documentation is mandatory, including KYC, income proof, and property details, along with stamp duty documents for the house you plan to buy.

Ideally, your income should be 3-4 times the loan amount to ensure that managing the Rs 60 lakh Home Loan EMI doesn't cause undue financial strain.



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