Discover the World of Bajaj Housing Finance Home Loans: A Comprehensive Guide

Bajaj Housing Finance, one of the most trusted Housing Finance Companies in India, offers home loans from 8.50% p.a. onwards. With loan tenures of up to 40 years and loan amounts of up to INR 5 crores, they provide the flexibility you need to make your dream home a reality. It is the most diversified NBFC in the Indian market, and it caters to more than 83.64 million customers across the country. Having its headquarters in Pune, it offers finance to individuals as well as corporate entities for the purchase and renovation of homes or commercial spaces. 

It can be applied for online, and a quick disbursal of 48 hours is expected. You can also opt for a balance transfer in case an existing loan exists to enjoy the benefits of a low-interest rate along with a top-up of INR 1 crore or above. Also, tax benefits under the old tax regime with a home loan in India can be availed.

Features and Benefits

Mentioned are the features and benefits of Bajaj Housing Finance Home Loan:

• Get an attractive rate of interest starting at 8.50% per annum. For salaried applicants, the EMI amount is as low as INR 733 per lakh.
• Get a loan tenure of up to 40 years to manage the repayment better in your comfort.
• Link the housing loan interest rate to an external benchmark like the repo rate to get a benefit from favorable market conditions.
• Get a sanctioned loan amount of up to INR 5 crores or even higher, based on eligibility.
• Get the home loan disbursed within 48 hours following the approval of the application and documentation verification.
• Borrowers and applicants can make use of EMI and eligibility calculators to plan home loan repayments and applications.
• Get the most of its features and benefits by using the balance transfer method, where interest rates start as low as 8.70% p.a. for salaried applicants. 
• Get a hassle-free loan application by opting for a doorstep documentation pick-up service.
• Get the finest borrowing terms with quick and hassle-free processing from a list of more than 5000 approved projects.
• Avail the benefit of lower interest rates and other charges with a home loan balance transfer and a top-up loan of INR 1 crore or more on the basis of eligibility.
• Get customised repayment options even for under-construction property.
• Get real-time access to a seamless borrowing experience and access to the loan details and related documents. 

Documents Required

Mentioned below is the list of documents that are required to be submitted along with the loan application form: 

Eligibility Criteria

Whether it is a 20 Lakh Home Loan EMI or a 40 Lakh Home Loan EMI, the eligibility parameters are to be met to apply for a home loan, which are as mentioned below:

1. In the case of Salaried Employees:

• An applicant must be an Indian Resident (including NRIs).
• The minimum age of an applicant should be 23 years.
• The maximum age limit is considered at the time of maturity of the loan, which should be 75 years.
• The applicant should have a minimum experience of 3 years in a public or private sector company or an MNC. 

2. In the case of Self-Employed Employees:

• An applicant must be an Indian Resident (resident only).
• The minimum age of an applicant should be 25 years.
• The maximum age limit is considered at the time of maturity of the loan, which should be 70 years.
• The applicant should have a minimum experience of 5 years of vintage in the current company.

3. In the case of Self Employed Professionals:

• An applicant must be an Indian Resident (resident only).
• The minimum age of an applicant should be 25 years.
• The maximum age limit is considered at the time of maturity of the loan, which should be 70 years.
• The applicant should have a minimum experience of 3 years of vintage in the current company.

Fees and Charges

Mentioned below are the processing fees and charges that would be applicable to Bajaj Housing Finance Home Loans: 

Dos and Don’ts of Applying for a Home Loan

Do’s:

• You should perform proper research while looking for a home loan in the market.
• Your credit score should be looked into and improved before applying for the loan.
• The terms and conditions of the loan agreement should be properly looked for.
• Get a pre-approval first to improve the bargaining power for a housing loan.

Don’ts:

• Try not to apply for multiple loans and credit cards.
• Do not provide incomplete or inaccurate details or hide any information.
• Do not miss out on the EMI scheduled or credit card payments.
• Do not take too much debt burden before opting for a home loan.

Interest Charges

Mentioned are the interest charges that are to be applied for Bajaj Housing Finance Home Loans:

1. Interest Rates for Salaried Applicants

2. Interest Rates for Self-employed Applicants