Home Loan of Rs 1 Crore

1 Crore Home Loan: Interest Rates

1 crore home loan interest rates start at 7.35% p.a. The Rs. 1 crore home loan interest rate will depend mainly on factors such as the credit score, loan amount, LTV ratio, employer’s profile and other aspects of the credit profile of loan applicants.

Most banks and HFCs offer home loans at floating interest rates. While some lenders offer fixed rate options, these typically come with higher interest rates. A few also offer mixed interest rates, where the rate is fixed for the first 2 to 3 years and then changes to floating for the remaining tenure.

Note: If you have a home loan of Rs. 1 crore at a high interest rate, you can switch to another lender offering a lower rate using a Home Loan Balance Transfer. This helps reduce your overall interest cost.

Rs. 1 Crore Home Loan EMIs for 10 Year Tenure

Tenure

Lender’s Name	Interest Rate (% p.a.)	EMI
SBI	7.50– 8.70	Rs. 1,18,702 – R.s 1,25,058
HDFC Bank	7.90onwards	Rs. 1,20,800 onwards
ICICI Bank	8.00 onwards	Rs. 1,21,328 onwards
Bank of Baroda	7.45 onwards	Rs. 1,18,441 onwards
Union Bank of India	7.35 onwards	Rs. 1,17,920 onwards

Rs. 1 Crore Home Loan EMIs for 20 Year Tenure

Lender’s Name	Interest Rate (% p.a.)	EMI
SBI	7.50– 8.70	Rs. 80,559 – Rs. 88,052
HDFC Bank	7.90 onwards	Rs. 83,333 onwards
ICICI Bank	8.00 onwards	Rs. 83,644 onwards
Bank of Baroda	7.45 onwards	Rs. 80,254 onwards
Union Bank of India	7.35 onwards	Rs. 79,645 onwards

Rs. 1 Crore Home Loan EMIs for 30 Year Tenure

Lender’s Name	Interest Rate (% p.a.)	EMI
SBI	7.50– 8.70	Rs. 69,921 – Rs. 78,313
HDFC Bank	7.90 onwards	Rs. 73,028 onwards
ICICI Bank	8.00 onwards	Rs. 73,376 onwards
Bank of Baroda	7.45 onwards	Rs. 69,579 onwards
Union Bank of India	7.35 onwards	Rs. 68,897 onwards

Factors to Consider for a Availing Home Loan of Rs. 1 Crore

Loan-to-Value Ratio

The LTV ratio for home loan is the total percentage of a property’s value that any bank/HFC can finance through their home loans. The rest of the percentage of the property value is paid by the borrower.

For example: If your house costs Rs. 1 crore and the lender offers an LTV of 75%, you can get a loan of Rs. 75 lakh. The remaining Rs. 25 lakh has to be paid by you as the down payment.

Note: The final home loan LTV ratio should not exceed the regulatory caps as finalized by the RBI. The loan amount breakup for a home loan and the corresponding LTV ratios are mentioned below:

Cost of Your Home	LTV Ratio
Up to Rs. 30 lakh	Up to 90% of the property’s cost
Above Rs. 30 lakh to Rs. 75 lakh	Up to 80% of the property’s cost
Above Rs. 75 lakh	Up to 75% of the property’s cost

Lenders decide the final LTV ratio for a home loan applicant based on factors like their credit profile, property’s market value, repayment capacity, etc.

EMI Affordability:

Before applying for a home loan of Rs. 1 crore, take a hard look at your finances, not just what you think you can afford, but what makes sense for long-term stability.

Your EMI should ideally stay within 30%–40% of your monthly income, leaving room for other expenses and unexpected costs. Don’t overlook existing commitments like personal or car loans, which can tighten your monthly budget and impact your loan eligibility. Use a home loan EMI calculator to ensure your monthly payments fit comfortably within your budget.

Fees and Charges

Apart from principal and interest, factor in:

• • Processing fees
  • Legal and technical charges

• Other charges

The processing charge for a home loan applicant usually goes up to 2% of the total loan amount, with some lenders charging a higher percentage from home loan borrowers. Some lenders also waive off the processing fees on a partial/complete basis for home loan applicants.

Prepayment Charges

RBI guidelines prevent lenders from charging prepayment fees for home loans availed at floating interest rates. When it comes to fixed-rate home loans, lenders have the discretion to either charge or waive off the prepayment fees. Furthermore, lenders can levy prepayment fees for home loans with mixed/hybrid rates during the part of the loan tenure when they are charging fixed interest rates.

Rs. 1 Crore Home Loan: Eligibility Criteria

• Lenders usually approve the home loan applications made by loan applicants aged 18 years and above. Most banks and HFCs require their home loan borrowers to conclude their loan repayment by the time they are 70 years old.
• Lenders offer home loans to both salaried and self-employed individuals.
• Borrowers can add earning family members as co-borrower(s) or select a longer loan tenure to improve their home loan eligibility.
• Loan applicants with credit scores of 750 and above have better chances of availing home loans. Many banks and HFCs also provide home loans at lower interest rates to applicants having higher credit scores.

Lenders might also determine a home loan applicant’s eligibility by considering additional factors like their monthly/annual income, employer’s profile, work experience (for salaried applicants) or business continuity (for business owners), occupation profile, age of the property, etc.

Documents Required for Home Loan of Rs. 1 Crore

Most banks and HFCs ask home loan applicants to submit the below-mentioned documents:

• Duly filled application form
• Identity proof
• Income proof (both for salaried and self-employed)
• Age proof
• Proof of business/employment
• Address proof
• Property documents
• Estimated cost of property

Note: Lenders have the discretion to ask home loan applicants to furnish additional documents.

How to Apply for a Home Loan at Paisabazaar

To apply for a home loan of Rs. 1 crore, visit the home loan page of Paisabazaar and follow the simple steps mentioned below:

• Step 1: Enter your mobile number in the application form
• Step 2: Enter OTP to verify your mobile number
• Step 3: Share details related to your loan requirements
• Step 4: Provide your personal details
• Step 5: Compare offers and apply for the best-suited loan