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Bajaj Finance Home Loan
Are you dreaming about owning a house? It’s time to stop dreaming and take a step to own one. If you are tired of paying monthly rental then at Bajaj Finserv you can get home loan which will help you to own a property by just paying the monthly EMI. This monthly EMI could be as close as your monthly rental and bring a difference to your life. If you are a house hunter then Bajaj Finance can cater all your need and will be able to customize the loan as per your requirements. With the help of Finance Buddha you can check the eligibility and accordingly decide with the best home loan plan that suits your income and needs.
Bajaj Finance Home Loan: Features and Benefits
Some of the interesting features offered by Bajaj Finance are listed below. These will help you to understand why many choose this finance institution over other banks and non-banking financial institutions:
- Offers home loan balance transfer
- Helps in refinancing
- Gives option of part payments for the loan borrowers
- No foreclosure charges are applicable for closing the loan amount
- Flexi schemes are offered for any existing loans
- Huge loan amounts and long tenures
- Home loan plus scheme which will help in owning a house and also financing for interior designing works
- Prepayment facilities are offered
- Online access
- India’s No.1 100% Home Loan online approval for services for any salaried individuals
- Home Loans upto Rs. Five crores and online loan-approval within just 5 minutes
- Prompt repayment advantage as well as upto three EMI Free months.
Bajaj Finance Home Loan: Agreements and T&C
Here are some of the terms and conditions of Bajaj Finserv for availing a home loan:
- If the borrower takes loan in the form of Advance EMI option, then the below should be followed:
- It’s agreed by the Borrowers that the EMI paid in advance as per clause 2.15 (a) (i) above shall be deducted from the loan and the remaining amount of the loan after such deductions will be disbursed to the borrower.
- The Borrower shall pay in advance the amount of the last EMI in relation to the loan as mentioned in Schedule II.
- If the applicant avails the loan in the form of Step up Structured EMIs, then:
- It is clarified and agreed by the borrower that the amount of EMI paid by the borrower will increase gradually during the loan period.
- The borrower shall have the benefit of paying staggered or different amounts of EMI in relation to the loan amount which become payable during loan tenure as mentioned in Scheduled II.
- If the borrower avails loan in the form of Step Down Structured EMIs, then:
- The borrower shall have the benefit of paying staggered or different amounts of EMI in relation to the loan amount which become payable during loan tenure as mentioned in Scheduled II.
- It is clarified and agreed by the borrowers that the amount of EMI paid by the applicant will decrease gradually during the loan.
Why should you choose Bajaj Finance Home Loan?
Here are some of the key reasons why Bajaj Finance is considered as the best bank for home loans as compared to other banks and non-banking financial institutions:
- The applicant can avail loan upto INR 150 million with or without any guarantor or collateral.
- It offers prompt repayment benefits to the borrowers.
- Part- payment and fore-closure options are available
- There is no additional charges involved in fore closure of a home loan
- There are pre-approved offers
- Customers can access and monitor their account through online
How to apply for Bajaj Finance Home Loan?
Finance Buddha is the ideal platform where you can compare and choose the best banks or non-banking financial company that can offer you best rates and amounts as per your request. This will help you to judge which is the best and ideal option from the alternatives available. Once you pick your bank and apply through Finance Buddha, the banks will contact you directly within 24 hours to take your request forward.
Eligibility Criteria for Bajaj Finance Home Loan
Bajaj Finance has different set of rules and working style for salaried, self-employed as well as businesses. The same difference is considered even for their home loan eligibility factor.
- Mainly the income of the individual should be sufficient enough the repay the loan amount.
- Other factors such as age, creditworthiness, employer are also considered when it comes to checking eligibility
Income Eligibility for Salaried Individuals:
- Minimum Monthly Net Salary should be at least INR 60000 for residents of Thane, Delhi /NCR and Mumbai.
- Minimum Monthly Net Salary should be at least INR 45000 for residents of Chennai and Bangalore.
- Minimum Monthly Net Salary should be at least INR 45000 or more for residents of Pune, Ahmedabad, Hyderabad and Kolkata.
- Minimum Monthly Net Salary should be at least INR 35000 for resident of Coimbatore, Surat, Aurangabad, Vadodara, Jaipur & Nashik.
Documents Required for Bajaj Finance Home Loan
| Documents Required | Individuals | Firms, Partnerships |
| Identity Proof | PAN card, Passport, Driving License, Aadhar Card, Voter id, Govt issued i-card | PAN card, Passport, Driving License, Aadhar Card, Voter id, Govt issued i-card |
| Certificate and Proof of Business Existence | NA | PAN , sales tax/ excise/ VAT/ service tax registration, Copy of partnership deed, Trade license, certificate of practice, registration certificate issued by RBI, SEBI |
| Address Proof | Passport, Driving License, Election ID card, Electricity/ Telephone/ Mobile bill/ bank statement | Bank statement, utility bill, Registry copy, lease or rent agreement, TAN allotment letter |
| Age Proof | PAN card, Passport, Driving License, Voter id card, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate | PAN card, Passport, Driving License, Voter id card, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate |
Bajaj Finance Home Loan: Interest Rates, Fees and Charges
| Salaried | |
| Bajaj Finserv Home Loan Interest Rate | 8.85% |
| Loan Tenure | From 5 years to 25 years months |
| Loan Amount | Min INR 3 million and Max INR 150 million |
| Processing Fee | 1% of the loan amount for Salaried Individuals |
| EMI Bounce Charges | INR 1000 per bounce |
| Charge for Loan Statements | NIL |
| Charge for Interest & Principle Statement | NIL |
| PDC Swap Charges | NIL |
| Age | Min 25 years and Max 60 years |
| Prepayment Charges | Allowed after 1 EMI's, can prepay without charges |
| Foreclosure Charges | Allowed after 1 EMI's, can prepay without charges |
Frequently Asked Questions
How can I know if am eligible for a home loan with Bajaj Finance?
Make use of the Finance Buddha application to check your eligibility before applying for a loan.
What is the maximum limit of loan amount that can be availed from Bajaj Finserv?
Loan can be taken upto 15 crores for tenure of maximum 25 years.
Is there any fore-closure charges and when can I fore-close my business loan?
There is some amount of fore-closure charges and the home loan can be fore-closed any time after making the 1st EMI.
Are there pre-approved offers on home loans for customers of Bajaj Finserv?
Yes, existing customers can avail the option of pre-approved loans.
Are there any charges by Finance Buddha for the service offered?
No, there are no charges implied on the customers of Finance Buddha. This platform offers services for absolutely FREE for anyone who is looking for additional information!
What is the formula for EMI calculation?
Loan amount x Interest/12) x [(1+ interest rate/12)^loan tenure in number of months] / ([(1+ interest rate/12) ^ loan tenure in number of months]-1
Is it alright to make huge purchases for personal needs while availing for a home loan?
Huge purchases and outstanding debts will impact the loan approval, thus avoid the same. The rate of interest will be high for low credit rating.
How important in credit worthiness in loan approval?
It is advisable to not apply for too many loans, limit yourself according to the necessity. Credit score will go down as and when you apply for more and more loan.
What are the documents required along with a business loan application?
Complete loan application form with one passport size photograph Valid Proof of Applicant's Identity: Passport, Photo PAN card, Voter’s identity card , Driving license and MAPIN card Proof of Residence: Ration card Tel/ Lease agreement/ Electricity Bill/ Passport/Trade license /Sales Tax certificate Proof of Age: Passport, Photo PAN card, Voter’s identity card Financial Documents
Does online application actually work?
Through Finance Buddha you can simply apply for the loan and we will contact you directly to take the proposal to the next level.
What are the special features of Bajaj Finance Home loan?
Avail Attractive Interest Rates Hassle-free Loans - No Guarantor / Security or Collateral required Repay with easy EMIs Speedy Loan Approval Credit Shield Disbursal in 2 Days
What details are essential for checking eligibility of home loan through Finance Buddha?
Borrower name Company name Year of Incorporation Loan amount Turnover Choose the city Net profit after tax Mobile number Depreciation Email ID Partner salary
What is unique about Bajaj Finance?
While all banks are concentrated on giving low interest rates, this bank concentrates on low interest rates for its customers along with exciting offers. Home loan from this bank is a smart move if you are looking to take it anytime now.
Reviews
The processing of my home loan with Bajaj Finance was really smooth and hassle free. My loan was approved only in 6 working days. The executives of Finance Buddha were very soft spoken and helping in nature. The helped me in completing the documentation process.
Vineet Kumar 5/5Bajaj Finance helped me to have my own home in city like Bangalore. They approved my home loan at quite an affordable interest rate. The processing charges were also low. The process was completed in only 5 working days.
Rahul Verma 5/5I took home renovation loan with Bajaj Finance. The rate of interest at which I got the loan is 8.80% P.A the tenure period is of 6 years. The processing charge was 1% only which is low as compared with the other banks. I am happy for having my home loan with Bajaj .
Manshi Yogi 5/5It was a very satisfactory experience with Bajaj Finance. I applied for a home loan there with Finance Buddha. The executives from Finance Buddha came to me and collected all the documents. I had to do nothing after that. All process was completed by executives only. The complete process took only 5 days and I was having the money on the 6th day. I will give 5 stars to both Finance Buddha as well as Bajaj Finance.
Akriti 5/5Having own home is everyone’s dream. Such was mine. Finance Buddha and Bajaj Finance helped me to change my dream into reality. I got my home loan with Bajaj Finance with the help of Finance Buddha. The rate of interest and processing fees were nominal. Thank you Bajaj and Finance Buddha.
Preet Ranjan 5/5My experience with Finance Buddha was really very pleasing. I went with Finance Buddha for my home loan. my loan was approved with Bajaj Finance NBFC. The rate of interest charged was affordable and there were no hidden charges. I am very happy with both Finance Buddha and Bajaj Finance.
Rupali Vaishnav 5/5Choosing Bajaj Finance was my best decision when it comes to my home loans. They provided me home loan at very reasonable rate which was 8.50% pa and the processing charges were low. They processed my loan within 5 working days. I will recommend Bajaj Finserv to my friends also.
Anupam 5/5The processing expenses for my credit was only 1%. This is low when compared with different banks additionally, the rate of interest is likewise one of the least offered by any private organization or bank. With Finance Buddha the assembling all the documents and making it simple for me to apply for the credit.
Shashank Shekhar 5/5The service provided by the Bajaj Finance is really amazing. I am having my home loan with Bajaj Finance. They offered me quite an affordable interest rate and the processing fees was very low. I am happy as I went with Bajaj Finance.
Deepesh 5/5I took a home renovation loan with Bajaj Finserv through Finance Buddha. The processing here was really fast and smooth. I got my loan approved in 6 working days. I will recommend Bajaj Finance to others also who are in need of home loan.
Anirudh 5/5Now having one’s own home is really easy with the effort of Finance Buddha and Bajaj Finserv. I took a home loan with Bajaj Finserv and now I am an owner of a house. The rate of interest charged were also bearable and processing charges were really low!!
Krishna 5/5Now a days there are many banks and NBFCs who are there to help you. But the decision will be yours only where to go for help. Finance Buddha is the best way to clear out all your doubts. And after clearing them you can apply for loan from there only. I am having my home loan with Bajaj Finserv and I applied it through Finance Buddha.
Pragya Bharti 5/5The service provided by Bajaj Finserv is really very good. I am having my home loan with them. Their terms and policies are clearly defined. The processing time is much less as compared to other banks. So in one word you can say they are the best!!
Amar Kant 5/5Finance Buddha is a proactive website which helped me with their home loan. The rate of interest they charged me for the home loan is 8.90% P.A and the processing fees was very low. I got my loan approved in only 4 working days.
Snehlata 5/5I got to know about Finance Buddha from its Facebook page. I went through their portal and applied for a home loan. There processing was very fast that I was able to get the credit in only 5 working days. I will give 5 stars to Bajaj Finance for their fast and efficient process.
Ashwan 5/5I went to the Finance Buddha portal and checked for my eligibility and compared all the banks and for my home loan. I found that Bajaj Finserv was the best suited for me. I applied for the loan through the Finance Buddha portal itself and the process started from the next day. My home loan was approved in only 5 working days.
Supriya Verma 5/5I am having my home loan with Bajaj Finance. The interest rate at which they provided me the home loan is 8.85% P.A and the processing charge was 1%. The processing was really smooth and hassle free.
Utkarsh 5/5I checked my home loan qualification for different banks through the qualification of the Finance Buddha. There I discovered that I was qualified for the home loan through Bajaj Finance. Additionally, their rates of interest were lower than different banks.
Mayank 5/5I had a home credit officially going ahead with the Bajaj Finance Company. Since my EMIs were paid on time, I had a decent CIBIL score. I required some more cash to be contributed on my home thus I wanted home loan. I came to think about the top-up advance by Bajaj and checked the rate of premium and everything. I got the credit and the administration was incredible obviously.
Atul Gupta 5/5The way to talk to the customers is really nice. The people in Finance Buddha team actually understand the problem of a common man, their struggles, etc. This is where they are better and make a personal touch with the audience. Also, it is great that they help us in the documentation process which is very tough to understand otherwise.
Sujit Mehta 5/5The Bajaj home loan helped me in the time of need. I was in desperate need of money as my home construction was stuck due to the lack of funds. The Finance Buddha team told me that there was a home loan for this provision as well. I quickly compared all the loans through their website and finally availed the Home construction loan. By far, the experience has been the best.
Roy Bannerjee 5/5Lowest interest rates and processing fees are the key attractive features of the home loan by Bajaj. They make it really easy to get the loan. I applied for the home loan through this website, that is, Finance Buddha. The whole team was very cordial and polite while answering all the questions. Overall a great experience.
Seema Sharma 5/5The Finance Buddha website has surpassed my expectations. I thought they would be giving me information about the loans and that was the only service they were providing. To my surprise, they actually did all the document work from telling what all was needed to recommending the right time to avail the loan. Really helpful!
Dhara Bansal 5/5While studying itself, I had thought that from the time of my first salary itself, I would start saving money and buy a house. Little did I know that it wasn't that easy. Bajaj helps in fulfilling the dreams of people. I got my home loan from them at rather cheap rate of interest as compared to others.
Sachin Gupta 5/5I got the best home loan offer from the Bajaj Finance home loan providers as they gave me the lowest amount of processing fees. Moreover, I was eligible for the complete amount of home loan that I applied. It couldn't have been possible without the guidance of this website.
Rajat Gupta 5/5I checked my home loan eligibility for various banks through the eligibility calculator of the Finance Buddha. There I found out that I was eligible for the home loan through Bajaj Finance. Also, their rates of interest were lower than other banks. There was no doubt left as to which bank I should trust for my home loan.
Sanya Mishra 5/5Dedication and hard work make this company so successful. Every piece of information posted is genuine and concise. Also, they will reply in time and always be there in case of any sort of emergency.
Sajan Kumar 5/5I had a home loan already going on with the Bajaj Finance Company. Since my installments were paid on time, I had a good credit rating with the bank. I needed some more money to be invested on my house and so, I came to know about the top-up loan by Bajaj and checked the rate of interest and everything. I got the loan and the service was great as usual.
Dheeraj Ganguly 5/5Whenever I used to miss my EMI date by chance, I had to face stupendous charges for cheque bounce. However, at the Bajaj home loan, they won't charge that exorbitant amount of price. They are genuine in their methods and would always charge the lowest, rate of interest, processing fees, or whatsoever!
Adil Hussain 4/5Great offers and the best customer service. The Bajaj Finance company is here to stay for long.
Prashant Rai 4/5