40 Lakh HDFC Home Loan

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A 40 Lakh Home Loan can be a valuable financial tool for individuals seeking to purchase their homes. This loan option provides access to a manageable amount of funds, enabling borrowers to fulfil their dream of homeownership without facing excessive financial burdens. By securing a 40 Lakh Home Loan, individuals can acquire a comfortable and secure living space, potentially appreciating over time. The loan's flexible repayment options allow borrowers to tailor their monthly payments to their income levels, ensuring financial stability and long-term affordability. Additionally, the interest paid on a 40 Lakh Home Loan may be eligible for tax deductions, further enhancing its financial attractiveness.

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Table of Content

1. 40 lakh Home Loan HDFC Highlights

2. 40 lakh HDFC home loan EMI for 10 years

3. 40 lakh HDFC home loan EMI for 20 years

4. 40 lakh HDFC home loan Fees and Charges

5. 40 lakh HDFC home loan Documents Required

6. 40 lakh HDFC home loan Eligibility Criteria

Written By

Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

40 lakh Home Loan HDFC – Highlights

Here are the key parameters to look into before applying for an HDFC 40 lakh home loan.

Highlights
Interest Rates	8.50% – 9.40% p.a., depending on the loan amount, tenure, credit score, and other pertinent components
Processing Fees	0.50%
Loan Amount	75% – 90% of the property cost
Loan Tenure	Until 30 years
Eligibility	Both salaried and self-employed

40 lakh HDFC home loan EMI for 10 years

Following is the aptly calculated information regarding a 40 lakh home loan EMI in HDFC for a 10-year loan tenure:

Loan Amount	Interest Rate	Loan Tenure	EMI	Total Interest Payable	Total amount Payment
Rs 40 lakh	8.50% p.a.	10 years	Rs 49,594	Rs 19,51,313	Rs 59,51,313

40 lakh HDFC home loan EMI for 20 years

Following is the full-fledged information regarding a 40 lakh home loan EMI in HDFC for a 10-year loan tenure:

Loan Amount	Interest Rate	Loan Tenure	EMI	Total Interest Payable	Total amount Payment
Rs 40 lakh	8.50% p.a.	20 years	Rs 34,713	Rs 43,31,103	Rs 83,31,103

40 lakh HDFC home loan – Fees and Charges

Let us give a view to the fees and charges associated with the HDFC 40 lakh home loan:

Fee/Charge	Amount
Processing Fee	0.50%
Prepayment charges	2%
Late payment charges	Up to 18% p.a. on overdue instalment amounts.
Loan cancellation Charges	Rs 1000

40 lakh HDFC home loan – Documents Required

To secure an HDFC 50 lakh home loan promptly, ensure you have essential paperwork ready: proof of identity, address, and property ownership. Employees should prepare job-related documents like appointment letters, recent pay stubs, and six-month financial records. Self-employed individuals need business overviews, Form 26 AS, organisation details, and six months’ bank statements.

40 lakh HDFC home loan – Eligibility Criteria

50 lakh home loan eligibility in HDFC Bank can be matched with a steady income or a revenue source. Moreover, you must be between 21 and 65 with a decent credit rating and record. Lastly, it is imperative that you must be an Indian citizen.