E-Home Loan - Fees and Interest Rates

When you take a loan from Bajaj Housing Finance Limited (BHFL), you get the benefits of attractive interest rates along with transparent fees and charges. The fees and charges applicable on a loan are as follows:

Interest Rate for Salaried Borrower

Benchmark Rate (BR) Prevailing BR Loan type Type of Rate BR + Spread Effective Rate of Interest (per annum)
Repo Rate (RR) 4.00% Home Loan Floating RR+ 3.50 % to RR+ 8.00% 7.50% to 12.00%
Repo Rate (RR) 4.00% Top up Floating RR+ 3.75 % to RR+ 8.00% 7.75% to 12.00%
Salaried Floating Reference Rate (SAL-FRR) 12.90% Home Loan Floating FRR-5.40% to FRR -0.90% 7.50% to 12.00%
Salaried Floating Reference Rate (SAL-FRR) 12.90% Top up Floating FRR-5.15% to FRR -0.90% 7.75% to 12.00%
Salaried Floating Reference Rate (SAL-FRR) 12.90% Loan Against Property Floating FRR-4.40% to FRR -0.90% 8.50% to 12.00%

 

Interest Rate for Self-Employed borrower

Benchmark Rate (BR) Prevailing BR Loan type Type of Rate BR + Spread Effective Rate of Interest (per annum)
Self Employed Floating Reference Rate (SE-FRR) 13.30% Home Loan Floating FRR-4.80% to FRR +0.20% 8.50% to 13.50%
Self Employed Floating Reference Rate (SE-FRR) 13.30% Top up Floating FRR-4.30% to FRR +0.20% 9.00% to 13.50%
Self Employed Floating Reference Rate (SE-FRR) 13.30% Loan Against Property Floating FRR-3.30% to FRR +0.20% 10.00% to 13.50%

 

Disclaimer

  • BHFL charges an additional rate over the benchmark rate, called “Spread”, to arrive at the final lending rate. Spread will vary basis various parameters such as the Bureau Score, Profile, Segments, approval from competent authority etc for arriving at final lending rate
  • The above-mentioned rates are for new loans originated post August 2020 and not for existing loans and accordingly the Effective rate of interest on existing loans may be different.
  • On or before March 18, BHFL FRR was applicable for all type of loans (secured & unsecured) booked by the Company however, this benchmark rate is applicable for unsecured loans post this period.
  • Above benchmark rates are subject to change. The Company will update the applicable benchmark rates on its website as and when changes done.

Other charges

TYPES OF FEES CHARGES APPLICABLE
Processing fees Up to 6% of the Loan amount
Loan statement charges NIL
Interest and principal statement charges NIL
EMI bounce charges Up to Rs. 3,000/-
Penal interest Up to 2% Penal Interest
Secure fee Up to Rs.4,999 (One time)

*Applicable following 1st EMI clearance. 

FORECLOSURE CHARGES & PRE-PAYMENT CHARGES 

Floating Rate Loans: If all Borrowers and Co-Borrowers are Individuals 

Term Loan Flexi Term Loan Flexi Hybrid Loan
Time Period (Months) >1 >1 >1
Foreclosure Charges Nil Nil Nil
Part Payment Charges Nil Nil Nil

Fixed Rate Loans: All Borrowers (including individuals)

Term Loan Flexi Term Loan Flexi Hybrid Loan
Time Period (Months) >1 >1 >1
Foreclosure Charges 4% * on Principal Outstanding 4%* on the available Flexi Loan Limit 4% * on Sanctioned Amount during Flexi Interest Only
Loan Repayment Tenure;
and
4%* on the available Flexi Loan Limit during Flexi Term Loan Tenure
Part Payment Charges 2% * on the Part- Payment Amount NA NA

* GST as applicable will be payable by the Borrower in addition to the Prepayment Charges.