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40 Lakh Home Loan

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Competitive Interest Rates

Starting 7.35% p.a.

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Handpicked Home Loan Offers

Offers from 30+ Banks & HFCs

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40 Lakh Home Loan Interest Rates

  • Most lenders provide home loans at floating interest rates, along with fixed-rate and hybrid-rate options.
  • Floating rates are linked to external benchmarks, and when the repo rate changes, the home loan interest rate fluctuates.
  • Under a hybrid loan, the interest rate generally remains fixed for the first 2–3 years and then shifts to a floating rate.
  • Borrowers who are currently paying a higher interest rate on their existing home loan may also consider transferring the loan to another lender offering more favourable rates.

Rs. 40 Lakh Home Loan EMI for 10 Year Tenure

Lenders Name Interest Rate (%p.a.) EMI
SBI Home Loan 7.25-8.55 Rs. 46,960 - Rs. 49,701
HDFC Home Loan 7.75 onwards Rs. 48,004 onwards
ICICI Home Loan 7.55 onwards Rs. 47,585 onwards
BOB Home Loan 7.20-9.00 Rs. 46,857 - Rs. 50,670
Union Bank of India Home Loan 7.15-9.60 Rs. 46,753 - Rs. 51,978

Rs. 40 Lakh Home Loan EMI for 20 Year Tenure

Lenders Name Interest Rate (%p.a.) EMI
SBI Home Loan 7.25-8.55 Rs. 31,615 - Rs. 34,840
HDFC Home Loan 7.75 onwards Rs. 32,838 onwards
ICICI Home Loan 7.55 onwards Rs. 32,346 onwards
BOB Home Loan 7.20-9.00 Rs. 31,494 - Rs. 35,989
Union Bank of India Home Loan 7.15-9.60 Rs. 31,373 - Rs. 37,547

Rs. 40 Lakh Home Loan EMI for 30 Year Tenure

Lenders Name Interest Rate (%p.a.) EMI
SBI Home Loan 7.25 - 8.55 Rs. 27,287 - Rs. 30,898
HDFC Home Loan 7.75 onwards Rs. 28,656 onwards
ICICI Home Loan 7.55 onwards Rs. 28,106 onwards
BOB Home Loan 7.20 - 9.00 Rs. 27,152 - Rs. 32,185
Union Bank of India Home Loan 7.15 - 9.60 Rs. 27,016 - Rs. 33,926

LTV Ratio for a Home Loan

Home Loan Amonut LTV Ratio
Up to Rs. 30 Lakh 90%
Above Rs. 30 Lakh and up to Rs. 75 Lakh 80%
Above Rs. 75 Lakh 75%

Factors to Consider While Availing a Home Loan Up to Rs. 40 Lakh

Loan-to-Value (LTV) Ratio
  • The LTV ratio indicates the percentage of a property’s value that can be financed through a home loan.
  • For loans of up to Rs. 40 lakh, one can avail a loan up to 80% of the property cost, subject to the lender’s eligibility and property assessment.
Loan Tenure
  • Home loan repayment periods can go up to 30 years.
  • Borrowers should select a tenure that keeps the total EMI burden, including payments on existing loans, within their repayment capacity.
Credit Score
  • A credit score of 760 or above is generally viewed favourably by lenders and may support better chances of loan approval and access to competitive interest rates.
  • Applicants with a lower score may qualify for a home loan but may have to pay interest at a higher rate and adhere to strict terms.
Processing Fees
  • Most lenders levy a one-time processing fee for home loan applications, which can be up to 2% of the sanctioned loan amount.
  • The actual fee, discounts, and waiver offers may differ from one lender to another.
Prepayment Charges
  • Individual borrowers generally do not have to pay a prepayment penalty on floating-rate home loans.
  • Prepayment charges may be applicable in cases involving fixed-rate or hybrid loans.

Eligibility Criteria for Availing a Home Loan up to Rs. 40 Lakh

  • Applicant Eligibility: Resident Indians can apply for home loans of up to Rs. 40 lakh, while select lenders may also extend home loan facilities to Non-Resident Indians (NRIs).
  • Age Criteria: Home loans are generally available to new applicants as well as existing borrowers opting for a balance transfer, with the minimum age typically being 18 years. Lenders generally expect the loan to be fully repaid by the borrower’s age of 70 years.
  • Employment Status: Both salaried professionals and self-employed individuals or business owners can apply for home loans, subject to the lender’s eligibility requirements.
  • Improving Loan Eligibility: Applicants may enhance their borrowing eligibility by adding earning family members as co-borrowers or selecting a longer repayment tenure, where permitted by the lender.
  • Credit Score: Applicants with a credit score of 760 or above may have better access to home loans and competitive interest rates. Several banks and HFCs may offer more favourable rates to borrowers with stronger credit profiles.

Apart from the above criteria, lenders may consider factors such as the applicant’s income, employment experience for salaried individuals, business continuity for self-employed applicants, existing financial obligations, assets, the age of the property, and other relevant factors when determining eligibility for a home loan of up to Rs. 40 lakh.

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Documents Required for Rs. 40 Lakh Home Loan

When applying for a home loan, borrowers are generally required to submit a set of documents for identity, income, employment, and property verification. Commonly requested documents include:

  • Completed Loan Application Form
  • Proof of Identity
  • Proof of Age
  • Income Documents for both salaried and self-employed applicants
  • Employment or Business Proof
  • Proof of Address
  • Property-Related Documents
  • Estimated Property Cost

Note: The above list is indicative and may not cover all requirements. Depending on the lender’s policies and the applicant’s financial profile, additional documents may be requested during the loan application or verification process.

How to Apply for a Home Loan of Rs. 40 Lakh through Paisabazaar

Prospective home loan applicants can explore personalised offers from multiple partner lenders through the Paisabazaar website or mobile app. The process is as follows:

Through the Paisabazaar Website

      1. Visit the official Paisabazaar website and navigate to the Home Loans section.
      2. Enter your contact details as requested.
      3. Provide the necessary information related to your loan requirements and profile.
      4. Choose your preferred lender with suitable home loan offers from partner lenders based on the details provided.
      5. Apply online and submit documents.

Through the Paisabazaar App

      1. Download the Paisabazaar app and log in to your account. Registration or sign-in is generally required only during the first use.
      2. Select the Home Loan option and enter the required details.
      3. Choose the relevant lender from home loan offers from partner lenders based on the information submitted.
      4. Apply online and submit required documents.
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FAQs

What are the interest rates on Rs. 40 lakh home loans?

Interest rates vary by lender and borrower profile. The rates provided start from 7.15% p.a. across the listed lenders.

What LTV ratio applies to a Rs. 40 lakh home loan?

For loans above Rs. 30 lakh and up to Rs. 75 lakh, the LTV ratio is generally up to 80%, subject to lender and property assessment.

What credit score is suitable for a Rs. 40 lakh home loan?

A credit score of 760 or above is generally viewed favourably and may improve access to competitive interest rates, subject to other eligibility factors.

What documents are required for a Rs. 40 lakh home loan?

Common documents include identity, age, address, income, employment or business proof, property documents, the loan application form, and the estimated property cost.

Can I improve my eligibility for a Rs. 40 lakh home loan?

You may improve eligibility by adding an earning family member as co-borrower or choosing a longer tenure, where permitted by the lender.

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What our customers say

Time saving process

Office ke chalte jyada samay nahi nikal pata tha. Paisabazaar ke online process ki wajah se na hi mene banks ke rates compare karliye ghar bathe balki mera loan application aur disbursal bhi ghar bathe hi ho gaya...bank jana hi nahi pada...

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Pradeep SinghJan 7, 2026

Kam rates pe loan mila

Paisabazaar se mujhe bahut kam rate pe loan mil gaya...isse mere budget pe jada asar nahi pada aur jald hi mera apna ghar ho jayega..

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Nidhi SharmaJan 6, 2026

eligibility check ho jati hai free

me home loan lene ka soch raha tha uske liye mene pehle paisabazaar app se free me apni eligibility check ki..usse mujhe pata chala muje kya cheeze improve karni hai aur fir mera loan jaldi approve ho gaya.

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Shikhar SahuJan 5, 2026

Home loan mila yaahaan par

Mujhe home loan chahiye tha aur yahaan par sahayta kiya inhone aur loan mila. Pehla loan tha mera lekin sab ache se ho gaya.

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Prem Prakash PandeyDec 7, 2025

Home loan here

I took home loan here and they helped me in every step specially in collecting and submitting documents at the time of approval.

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Chandan SinghDec 1, 2025

Got the best home loan interest rate

I was confused and did not have so much time to carry out all the research, so I logged in to Paisabazaar’s portal and was able to see the home loan options I was eligible for. With the assistance of Paisabazaar’s experts, I was able to find the home loan that offered the rate of interest I could afford. Thank you Paisabazaar!

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Anu BhatnagarSep 10, 2021

Excellent Home Loan Service by Paisabazaar

Ended up taking an ICICI Home Loan and I think it was one of the best decisions I ever made. I thank Paisabazaar for helping me out and answering my questions with so much patience.

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KJ ThomasSep 10, 2021

Had a great experience with Paisabazaar

I have always heard my friends talking about how tedious it was for them to avail a home loan and decide the most suitable option. But with the help of Paisabazaar, I was able to compare several home loans and opt for the one that suited my needs. I am happy that I considered Paisabazaar for helping me.

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Ritesh SharmaSep 10, 2021

quick and easy home loan process

I had never thought that applying for a home loan could be so easy. The entire process was online and I didn’t have to go anywhere for application or documentation of my home loan. Paisabazaar experts helped me navigate through the process and later the bank collected my documents and everything was quick and seamless.

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Rupanjali MishraSep 3, 2021

Satisfied experience with Paisabazaar

I am satisfied with my home loan experience with Paisabazaar. I could easily compare different home loan options and apply for the home loan. Their customer care team also called me to confirm all the details and soon after the bank contacted to take the process forward. The process was really smooth.

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Soumil KhannaSep 3, 2021
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Written ByLinkedIn icon
Samridhi Srivastava
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Shamik Ghosh
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Paisabazaar is a loan aggregator and is authorized to provide services on behalf of its partners

*Applicable for selected customers

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