Overview
Bajaj Finance Home Loan
Bajaj Housing Finance, a trusted name in housing finance, offers home loans starting at a competitive rate of 8.50% per annum, extending up to thirty years, and accommodating loan amounts of up to Rs. 5 Crore. Additionally, it provides valuable services, including balance transfers and top-ups of up to Rs. 1 Crore on existing home loans.
Rate of Interest
8.50% - 15%
Loan to Value
80% - 90%
Loan Tenure
Max 30 Years
Max Loan Amount
Upto 5cr
Rate of Interest | 8.50% - 15% |
Loan Tenure | Max 30 Years |
Eligibility | Age • Salaried : 23 - 65 years • Self Employed : 23 - 75 years Profession • Salaried/Self Employed Income • Metro Cities : 20,000/Month & Above • Other Cities : 15,000/Month & Above Nationality • Resident Indian • NRI |
Max Loan Amount | Upto 5cr |
Property Supported | Plot Purchase / Independent Building / Apartment / Re Sale Property |
LTV | 80% - 90% |
Offerings | Plot Loan / Balance Transfer |
Addons | Top up / Interior Loan |
Processing Fees | 0.5% of the loan amount + GST |
Other Charges | Notary / Franking = 1500-2200 / MODT - 0.2% - 0.7% of your loan amount (based on your state) |
Overdraft Facilities | |
Balance Transfer | |
Highlights | • Low-Interest Rates for all types of loans • Best Re-sale product in the market • Online Prepayments are Easy • Average After Sales Support |
*Disclaimer: The interest rate, maximum tenure, and other charges are subject to change, it's advisable to check with our experts for the latest information.
Home Loan Calculations
Loan Amount | ₹ 50,00,000 |
Loan Tenure | 20 years |
Rate of Interest | 8.50% - 15% |
Monthly EMI | ₹ 43,391 - ₹ 65,839 |
Eligibility Criteria for Bajaj Finserv Home Loan
Criteria | Salaried Applicants | Self-employed Applicants |
---|---|---|
Age | 23 to 62 years | 25 to 70 years |
Nationality | Indian residents | Indian residents |
Employment Status | Employed with a reputed organization | 5+ years of business continuity |
Minimum Income | Rs 25,000 | Rs 25,000 |
Other criteria
- Co-applicants: Can include earning family members to increase loan eligibility.
- Property Location: The property to be financed should be within the geographical limits specified by Bajaj Finserv.
- Property Documents: Clear title of the property with all necessary approvals and permissions.
- Loan Amount: Based on the applicant’s repayment capacity, age, income, and existing liabilities.
Calculate your home loan eligibility and unlock exclusive offers for you!
Bajaj Finserv Home Loan Rates
Bajaj Finserv offers a diverse range of home loan products to cater to various needs. Understanding the interest rates is crucial when considering your home financing options. Here’s a quick overview of the interest rates for 2024 based on different loan products:
Loan Product | Interest Rates (% p.a.) |
---|---|
Home Loan | 8.50% – 15% |
Home Loan Balance Transfer | 8.70% – 15% |
Home Loan for Doctors | 8.60% – 15% |
Home Loan for Self-Employed | 9.1% – 15% |
Home Loan for Salaried | 8.50% – 15% |
Loan Against Property | 9.25% – 10.25% |
Top Up Home Loan | 9.8% – 18% |
Get the best Home Loan interest rates tailored for you
If you’re looking to choose the right home loan perfectly made according to your needs, then book a call with our experts here.
Bajaj Finserv Home Loan Processing Fee and Charges
Charge Type | Amount |
---|---|
Processing Fees (Home Loan) | Up to 4% of the loan amount |
Processing Fees (Balance Transfer) | Up to 4% of the loan amount |
Processing Fees (Home Loan for Doctors) | Up to 4% of the loan amount |
Processing Fees (Home Loan for Self-Employed) | Up to 4% of the loan amount |
Processing Fees (Home Loan for Salaried) | Up to 4% of the loan amount |
Penal interest | 24% p.a. |
Secure Fee | Upto Rs 10,000 |
Hard Copy Loan Statement Changes | Upto Rs 500 |
Prepayment Charges (Floating Rate Loans) | Nil |
Prepayment Charges (Fixed Rate Loans) | 2% of the principal outstanding |
Foreclosure Charges | Nil |
Documents Required for Bajaj Finserv Home Loan
Identity Documents
Document Name | Salaried Applicants | Self-employed Applicants |
---|---|---|
Proof of Identity | ✔ | ✔ |
Address Proof | ✔ | ✔ |
Age Proof | ✔ | ✔ |
Passport-sized Photographs | ✔ | ✔ |
Income Proof Documents
Document Name | Salaried Applicants | Self Employed Professional | Self Employed Non Professional |
---|---|---|---|
Last 3 months’ Salary Slips | ✔ | ✖ | ✖ |
Last 6 months’ Bank Statements, showing salary credits | ✔ | ✖ | ✖ |
Latest Form-16 and IT returns | ✔ | ✖ | ✖ |
Last 2 year ITR | ✖ | ✔ | ✔ |
At least last 2 years’ Balance Sheet and P&L A/c Statements | ✖ | ✔ | ✔ |
Last 12 months’ Savings Account Statements | ✖ | ✔ | ✔ |
Other Documents
Document Name | Salaried Applicants | Self Employed Professional | Self Employed Non Professional |
---|---|---|---|
Own Contribution Proof | ✔ | ✔ | ✔ |
Employment Contract | ✔ | ✖ | ✖ |
Last 6 months’ Bank Statements | ✔ | ✔ | ✔ |
Passport size photograph | ✔ | ✔ | ✔ |
Cheque for processing fee favoring Bajaj Finserv | ✔ | ✔ | ✔ |
Business Profile | ✖ | ✔ | ✔ |
Latest Form 26 AS | ✖ | ✔ | ✔ |
Memorandum and Articles of Association of the Company | ✖ | ✔ | ✔ |
Details of ongoing loans | ✖ | ✔ | ✔ |
Sales deed | ✔ | ✔ | ✔ |
NOC from the housing society or builder | ✔ | ✔ | ✔ |
Occupancy certificate (for constructed apartments) | ✔ | ✔ | ✔ |
Bajaj Finserv Home Loan Schemes and Top Plans
Comparison
Feature | Home Loan | Balance Transfer Loan | Home Loan for Doctors | Home Loan for Self-Employed | Home Loan for Salaried | Loan Against Property |
---|---|---|---|---|---|---|
Type of Loan | Home Loan | Balance Transfer Loan | Home Loan for Doctors | Home Loan for Self-Employed | Home Loan for Salaried | Loan Against Property |
Minimum Loan Amount | ₹5 lakh | ₹5 lakh | ₹5 lakh | ₹5 lakh | ₹5 lakh | ₹10 lakh |
Maximum Loan Amount | ₹10 crore | ₹10 crore | ₹10 crore | ₹10 crore | ₹10 crore | ₹5 crore |
Interest Rate | 8.50% p.a. onwards | 8.30% p.a. onwards | 8.40% p.a. onwards | 8.60% p.a. onwards | 8.50% p.a. onwards | 9.25% p.a. onwards |
Tenure | Up to 30 years | Up to 30 years | Up to 30 years | Up to 30 years | Up to 30 years | Up to 20 years |
Eligible Applicants | Salaried/Self-employed | Salaried/Self-employed | Doctors | Self-employed | Salaried Individuals | Salaried/Self-employed |
Special Features | – | Lower interest rates | Tailored for doctors | Tailored for self-employed | Tailored for salaried | Loan against property |
Additional Benefits | – | No processing fee | Easy documentation | Higher loan amounts | Simplified processing | Flexible terms |
Details
Bajaj Finserv Home Loan
- Minimum Loan Amount: ₹5 lakh
- Maximum Loan Amount: ₹10 crore
- Interest Rate: From 8.50% p.a. onwards
- Tenure: Up to 30 years
- Eligible Applicants: Salaried/Self-employed
- Special Features: NIL
Bajaj Finserv Balance Transfer Loan
- Minimum Loan Amount: ₹5 lakh
- Maximum Loan Amount: ₹10 crore
- Interest Rate: From 8.30% p.a. onwards
- Tenure: Up to 30 years
- Eligible Applicants: Salaried/Self-employed
- Special Features: Lower interest rates
Bajaj Finserv Home Loan for Doctors
- Minimum Loan Amount: ₹5 lakh
- Maximum Loan Amount: ₹10 crore
- Interest Rate: From 8.40% p.a. onwards
- Tenure: Up to 30 years
- Eligible Applicants: Doctors
- Special Features: Tailored for doctors
Bajaj Finserv Home Loan for Self-Employed
- Minimum Loan Amount: ₹5 lakh
- Maximum Loan Amount: ₹10 crore
- Interest Rate: From 8.60% p.a. onwards
- Tenure: Up to 30 years
- Eligible Applicants: Self-employed
- Special Features: Tailored for self-employed
Bajaj Finserv Home Loan for Salaried
- Minimum Loan Amount: ₹5 lakh
- Maximum Loan Amount: ₹10 crore
- Interest Rate: From 8.50% p.a. onwards
- Tenure: Up to 30 years
- Eligible Applicants: Salaried Individuals
- Special Features: Tailored for salaried
Bajaj Finserv Loan Against Property
- Minimum Loan Amount: ₹10 lakh
- Maximum Loan Amount: ₹5 crore
- Interest Rate: From 9.25% p.a. onwards
- Tenure: Up to 20 years
- Eligible Applicants: Salaried/Self-employed
- Special Features: Loan against property
How to Apply for Bajaj Finance?
For Salaried Individuals:
- Fill out the online application form with the required details on official website.
- Provide information about the property you wish to purchase.
- Pay a secure online fee at the time of application. A Relationship Manager will guide you through the rest of the process.
- Upload all essential scanned documents online for verification.
For Self-employed Individuals:
- Submit your application online.
- Complete the application form with the necessary details.
- Expect a pre-approved loan offer from a bank representative.
Alternate Application Method:
- Send the text ‘HLCI’ to 9773633633.
- Bajaj will reach out with a pre-approved offer and instructions on how to proceed.
Do not want to get into this hassle? Get Bajaj Finserv’s best rates in a single call.
Comparison
You can also compare the home loan rates of different banks here. For detailed comparison between top banks you can visit our compare banks page.
Bank | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
---|---|---|---|
SBI Bank | 8.5% p.a. onwards | 8.5% p.a. onwards | 8.5% p.a. onwards |
HDFC Bank | 8.7% p.a. onwards | 8.7% p.a. onwards | 8.7% p.a. onwards |
LIC Bank | 8.50% – 10.35% p.a. | 8.50% – 10.55% p.a. | 8.50% – 10.75% p.a. |
ICICI Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards |
Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
Punjab National Bank | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. | 8.40% – 12.10% p.a. |
Bank Of Baroda | 8.40% – 10.65% p.a. | 8.40% – 10.65% p.a. | 8.40% – 10.90% p.a. |
Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. |
Bank of India | 8.4% p.a onwards | 8.4% p.a onwards | 8.4% p.a onwards |
TATA Capital | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
The maximum tenure for the Bajaj home loan is 20-30 years (but the tenure of the loan can also change based on the scheme.)
Bajaj offers both fixed and floating interest rate options for home loans. With a fixed rate, the interest remains constant throughout the loan tenure, while with a floating rate, it fluctuates with the market condition.
Bajaj determines the interest rate based on factors like the loan amount, loan tenure, CIBIL Score, and the type of interest rate (fixed or floating) chosen by the borrower.