10 Lakh HSBC Bank Home Loan

Your path to homeownership starts here with Urban Money! Introducing one of the best financial tools in the market- a 10 Lakh Home Loan from HSBC Bank allows you to buy any type of residential property and fund its renovation. The interest rates for this loan start at just 8.50% floating rate of interest, and you can also take advantage of its low processing fees, quick loan transfer process and approval status within a couple of days. This blog will help you understand all the necessary details on required documentation, available interest rate options, eligibility criteria, and the mandatory processing charges for HSBC Bank’s 10 Lakh Home Loan.

10 Lakh Home Loan HSBC Bank- Highlights

The interest rate options available for a 10 Lakh Home Loan from HSBC Bank are:

Floating Interest Rate 

• Salaried: 8.75% 
• Self-Employed: 8.85% 
• Balance Transfer Loan- 8.50%

Fixed Interest Rate 

• For individuals in different occupations: 13.25% p.a.

Other important highlights for the loan include:

• Loan Purpose: To buy a new property or selected under-construction projects
• Loan Amount- Ranges from INR 3,00,000 to INR 600,000,000
• Repayment Tenure- 25 years for salaried individuals and 20 years for self-employed individuals
• EMI Calculation: Only on a daily reducing balance basis
• Approval: Takes almost five days post-document submission

10 Lakh Home Loan EMI for 5 Years from the HSBC Bank

If you plan to pay off your HSBC Bank’s 10 Lakh Home Loan within five years, here are the official EMI estimates and interest payable. 

10 Lakh Home Loan EMI for 10 Years from the HSBC Bank

Here’s the EMI estimate for a ₹10 Lakh Home Loan from HSBC Bank, based on an 8.50% interest rate and a 10-year repayment period.

10 Lakh Home Loan EMI for 15 Years from the HSBC Bank

At an interest rate of 8.50% and a loan repayment tenure of 15 years, the official EMI estimate and interest payable come up to be:

10 Lakh Home Loan EMI for 20 Years from the HSBC Bank

The interest payable and EMI instalment estimates for a 20-year tenured 10 Lakh Home Loan from HSBC Bank are:

10 Lakh Home Loan EMI For 25 Years from the HSBC Bank

With an interest rate of 8.50%, the EMI instalment for a 25-year long 10 Lakh HSBC Bank Home Loan is as follows:

10 Lakh Home Loan of HSBC Bank – Fees and Charges

The following fees are applicable on a 10 Lakh Home Loan from HSBC Bank:

• 1% processing fee or INR 10000 (Whichever is higher)
• No Foreclosure Charges for floating rate

Documents Required for a 10 Lakh HSBC Bank Home Loan

To qualify for a 10 Lakh Home Loan from HSBC Bank, you will need to submit the following documents:

• Proof of Identity
• Proof of residence
• Proof of property purchase and ownership 
• Proos of repayment capability via income

10 Lakh HSBC Home Loan – Eligibility Criteria

For those seeking a ₹10 Lakh Home Loan from HSBC Bank, the eligibility criteria include a minimum income of ₹5,00,000 for salaried individuals and ₹7,50,000 for self-employed individuals. This loan value can lie anywhere between 3,00,000 and 6,00,00,000. The applicants’ age should not exceed 60 for government employees and 65 for other self-employed individuals. For salaried employees, the age limit for the loan is anywhere between 21 and 58.