Bajaj Housing Finance Home loan interest rates

Bajaj Home Loan Interest Rate

Bajaj Housing Finance, a trusted name in housing finance, offers home loans starting at a competitive rate of 7.70% 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.

Features of Bajaj Housing Loans

  • Step-up Mortgages: Tailored for your evolving needs.
  • Home Loans with Repo Rates: Offering attractive interest rates.
  • Swift Disbursal: Get access to your funds promptly.
  • Interest Rates Commencing at 7% p.a.: Competitive and affordable.
  • E-Home Loans: Fast and efficient loan approvals.
  • Digital Sanction Letter: Receive one within 10 minutes post-application (validity: 180 days).

Eligibility for Bajaj Finance Home Loan

1. General Loan:

  • Resident of India.
  • Age between 23 and 62 years.
  • Minimum of three years of work experience.

2. Self-employment:

  • Resident of India.
  • Age between 25 and 70 years.
  • Present business should have a minimum of five years of continuity.

3. Loan Balance Transfer Facility:

  • Property must be ready to occupy or already occupied.
  • More than 12 EMIs must have been paid.
  • No outstanding balance on the current house loan.

Documents Required for Bajaj Housing Finance Home Loan Application

To apply for a Bajaj Finance Home Loan, ensure you have the following documents:

  • Address Proof (Aadhaar, Voter ID, Passport, Driving License, etc.)
  • Identity Documentation (Aadhaar, PAN, Passport, Driving License, Voter ID, etc.)
  • Photograph.
  • Form 16 or the most recent pay slip.
  • Bank statements for the past six months.
  • Document proving business ownership for at least five years (for business owners/self-employed individuals).

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.

Bajaj Finserv Home Loan Interest Rate

Below is the table of Bajaj Finance home loan interest rates:

For Salaried and Self-employed Professionals

Type of LoanBajaj Finance Home Loan Interest
Home Loan Balance Transfer7.75% to 14.00%
Home Loan7.70% to 14.00%
Top-up8.65% to 15.00%

For Self-employed Non-professionals

Type of LoanBajaj Finance Home Loan Rate
Home Loan Balance Transfer8.35% to 14.00%
Home Loan7.95% to 14.00%
Top-up8.85% to 15.00%

Types of Bajaj Home Loan Schemes for Customers

Bajaj Housing Finance offers a range of home loan schemes designed to cater to various customer needs:

1. Loan for the Purchase of Land: Tailored for those seeking to buy a building plot.

2. Home Construction Loan Scheme: An online, customized home financing solution for speedy house construction on a vacant plot.

3. Loan for Advocates & Government, Private, or Bank Employees: Specifically designed for professionals like lawyers, private sector employees, government personnel, and bank employees.

4. Joint Home Loan: A scheme that makes home loans more accessible, enabling co-borrowers such as parents, siblings, or spouses.

5. Women Home Loan: A dedicated scheme aimed at empowering women to become independent property owners and accumulate assets.

Also check home loans from other banks

LenderHome Loan Interest Rates (Above 75 lakhs)Home Loan Interest Rates (Above 30 lakhs to 75 lakhs)Home Loan Interest Rates (Up to 30 lakhs)
LIC Housing Finance8.50% – 10.75%8.50% – 10.55%8.50% – 10.35%
State Bank of India8.50% – 10.05%8.50% – 10.05%8.50% – 10.15%
HDFC Bank Limited8.40% onwards8.40% onwards8.40% onwards

FAQs

What is the maximum tenure Bajaj offers home loan for

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.)


Are Bajaj home loan interest rates fixed or floating?

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.


How is Interest Rate Determined for Bajaj Home Loan

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.

How can I calculate the EMI for Bajaj Home Loan?

You can calculate the EMI for Bajaj Home Loan using any online EMI Calculators

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