At BASIC Home Loan, our mission has always been straightforward — to make the home-buying journey easier, faster, and stress-free. In line with that vision, we’ve partnered with SNN Raj Corp, one of Bengaluru’s most trusted real estate developers, to bring smarter home financing options right where they matter most — at the point of purchase.
What does this mean for you as a homebuyer? It means that whether you’re exploring a 2 BHK or a larger family home with SNN Raj Corp, you’ll now have access to instant, guided, and paperless home loan assistance through BASIC. With loans ranging from ₹50 lakh to ₹2.5 crore, this partnership is designed to fit the diverse needs of today’s urban buyers.
And we’re not stopping there! Our goal is ambitious: to scale home loan disbursements in South India from the current ₹500 crore each month to ₹1,500 crore by FY 2026. For homebuyers, this translates into greater accessibility, increased trust, and more seamless support throughout their journey to owning a dream home.
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Before signing on the loan agreement, every homebuyer wonders: how much will I need to pay every month as a home loan EMI? Here’s a simple snapshot of what it takes to own a ₹1.5 crore 2 BHK with today’s home loan rates.
Let’s first start with the homebuyer profile
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EMI Calculation
According to the basic EMI formula, the EMI would be approximately ₹90,574 per month.
Quick Breakdown:
Bank’s View:
Most banks prefer the EMI-to-income ratio to be below 50%. Here, the EMI is more than this ratio, which is considered very high. On this salary, a ₹1.2 crore loan is a little difficult to be sanctioned unless a co-applicant (spouse/parent) is added to strengthen eligibility
Buyer’s Reality:
With just ₹44,500 left after EMI, the homebuyer will find it a little difficult to comfortably cover lifestyle expenses, savings, and investments. It may strain monthly finances unless there are dual incomes in the household.
Bank’s View:
Here, the EMI is less than 50% of the monthly income, which is good and within the acceptable range for most banks. The loan can be approved without the need for a co-applicant, provided the borrower has a good credit history.
Buyer’s Reality:
After paying the EMI, the homebuyer retains ~₹1.1 lakh each month – leaving enough room for lifestyle expenses, emergency savings, and even long-term investments. This makes the purchase far more sustainable.
Managing a big home loan can feel daunting, but with the right approach, you can bring down your EMI burden and even close the loan years before schedule. Here are some smart strategies:
A 20-year loan may mean a higher EMI compared to a 30-year tenure, but it saves you lakhs in interest. If your monthly budget allows, opt for a shorter repayment period.
Annual bonuses, salary hikes, or investment gains can be used to prepay a chunk of your loan. Even small prepayments reduce your principal and significantly cut down interest over time.
Many banks let you increase your EMI during the loan tenure. Even a 5–10% annual increase in EMI aligned with your income growth can help you close the loan much earlier.
If your current bank is charging a higher rate, consider a home loan balance transfer. Moving to a lender with lower interest rates reduces your EMI instantly.
Both the principal (Section 80C) and interest (Section 24(b)) components of your home loan qualify for tax deductions. Claiming these benefits lowers your effective loan cost, freeing up money you can channel back into repayments.
Buying a home isn’t just about picking the right property—it’s about making sure the finances add up in a way you can manage comfortably for years. For example, the same ₹1.2 crore loan can feel very heavy if your household income is ₹20 lakh a year, but much easier to handle if you earn ₹30 lakh or more. The difference comes down to good planning, choosing the right loan, and sometimes adding a co-applicant to strengthen eligibility.
That’s where our partnership with SNN Raj Corp makes a real difference. They bring their trusted real estate experience, and we bring our digital-first, paperless loan support. Together, we make the process of buying a home in Bengaluru simpler and less stressful. Whether it’s calculating your EMI, checking loan eligibility, or planning repayment, our focus is clear: to help you own your dream home without straining your finances.
So, if you’ve been looking at that perfect 2 BHK or even a larger family home, know that with the right guidance and tools, the path to homeownership can be smoother and more achievable.
It means homebuyers get the best of both worlds—SNN Raj Group’s trusted real estate projects and BASIC Home Loan’s seamless, paperless financing support. From the moment you select a property, you’ll have guided assistance in securing the right loan without the usual stress of paperwork and delays.
Yes. BASIC is offering home loans ranging from ₹50 lakh to ₹2.5 crore to SNN Raj Group’s homebuyers, tailored to fit Bengaluru’s rising property prices. This ensures that whether you’re buying a 2 BHK or a bigger family home, you’ll find a financing option that works for your budget and long-term plans.
Buying a home often involves endless forms, multiple bank visits, and long approval waits. With BASIC’s digital-first process, everything is simplified—applications are paperless, approvals are faster, and you get expert guidance at every step. This means fewer hassles and more confidence in your purchase.
Absolutely. The integration between SNN Raj Group and BASIC means that the loan journey starts right at the property site. With tech-enabled checks and instant application processing, approvals are quicker, helping you move into your new home without unnecessary delays.
Support doesn’t end once the loan is disbursed. Customers continue to receive guidance on balance transfers if better interest rates or terms and conditions become available. The goal is to help homeowners stay financially comfortable throughout the loan tenure, not just at the point of purchase.
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