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Bajaj Finserv Home Loan Apply Online @8.85%

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Bajaj Finance Home Loan Details

Bajaj Finserv 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.

A home purchase has been made more affordable and accessible with home loans provided by Bajaj Finserv. Bajaj Finserv offers home loans with a lot of flexibility that it fits for the home buyers of every kind. Bajaj Finserv provides home loans as high as ₹35,000,000 which is likely to be enough to purchase a home. 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 can find the best home loan that suits your requirements.

Bajaj Finserv Home Loan: Features and Benefits

Some of the interesting features offered by Bajaj Finance home loans are listed below. These will help you to understand why this financial institution is popular among the masses for home loan purchase.

  1. Balance Transfer Facility: You can refinance your existing home loan with Bajaj Finserv.  With minimal documentation and faster processing one can easily transfer your existing home loan to Bajaj Finserv for better services.
  2. Top-up Loan- An existing home loan customer can finance their other requirements with a high-value top-up loan over and above the existing housing loan. It is documentation free loan at a nominal rate of interest.
  3. Property Dossier- Bajaj Finance provides a customised report to guide the home loan customer through all the legal and financial aspects of being a property owner. This is a unique feature of Bajaj Finserv.
  4. Part-prepayment and Foreclosure Facility - No charges on part-prepayment or foreclosure to make the loan affordable.
  5. Flexible Tenor- The home loan tenors ranging up to 240 months. One can opt for any duration according to the repayment capacity.
  6. Minimal Documentation- Easy Home Loan eligibility criteria and minimal documentation are the main attractions of a home loan from Bajaj Finserv.
  7. Account Management - One can manage the home loan account online by using digital customer portal which is 24X7 service.
  8. Customised Insurance Schemes - Bajaj Finserv provides customised insurance schemes to protect the family of the borrower from the burden of repaying the housing loan in case of unforeseen events.

Bajaj Finserv Home Loan: Agreements and T&C

If the borrower takes a 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 becomes payable during loan tenure as mentioned in Scheduled II.

If the borrower avails the 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 becomes payable during loan tenure as mentioned in Schedule 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 Finserv 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 up to ₹35,000,000.
  • It offers prompt repayment benefits to the borrowers.
  • Part- payment and foreclosure options are available
  • There are no additional charges involved in foreclosure of a home loan
  • There are pre-approved offers
  • Customers can access and monitor their account through online.

How to apply for Bajaj Finserv 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 the 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 Finserv Home Loan

Bajaj Finserv has a 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.

Eligibility Criteria for Salaried Applicants

  • The applicant should be a resident of India.
  • The applicant should be between 23 and 62 years of age.
  • The applicant should be a salaried individual with a work experience of 3 years or more.
  • The minimum and maximum loan amounts are ₹1,000,000 and ₹35,000,000 respectively.

Income Eligibility for Salaried Individuals:

  • Minimum Monthly Net Salary should be at least ₹60000 for residents of Thane, Delhi /NCR and Mumbai.
  • Minimum Monthly Net Salary should be at least ₹45000 for residents of Chennai and Bangalore.
  • Minimum Monthly Net Salary should be at least ₹45000 or more for residents of Pune, Ahmedabad, Hyderabad and Kolkata.
  • Minimum Monthly Net Salary should be at least ₹35000 for the resident of Coimbatore, Surat, Aurangabad, Vadodara, Jaipur & Nashik.

Eligibility Criteria for Self-Employed Applicants

  • The applicant should be a resident of India.
  • The applicant should be between 25-70 years of age.
  • Self-employed individuals must have a minimum of 5 years of continuity in current business.

Whether you are a businessman, doctor, CA or an engineer Bajaj Finserv provides home loans up to ₹35,000,000.

Bajaj Finserv Home Loan Interest Rates, Fees and Charges (updated 22 Sep,2019)

Interest Rate  9.05% to 10.30% (For Salaried)
9.35% - 11.15% (For Self-employed)
Loan Tenure From 5 years to 25 years
Loan Amount Min ₹1,000,000  to Max ₹35,000,000
Processing Fee Up to 0.80% (Salaried), Upto 1.20% (Self Employed)
EMI Bounce Charges ₹3,000 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.

The home loan interest rate at Bajaj Finserv is competitive. The interest rate is different for salaried and self-employed loan applicants. The processing fee also alters slightly in the cases of salaried and self-employed loan applicants. Here below is a table where you can find different fees and charges of a Bajaj Finserv Home Loan.

Bajaj Finserv Home Loan Documents Required

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

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.

Bajaj Finance Home Loan ReviewsView All

Vineet Kumar

5 / 5

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.
Rahul Verma

5 / 5

Bajaj 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.
Manshi Yogi

5 / 5

I 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 .
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