E HOME LOAN
Bajaj Housing Finance offers high-value home loans starting at only 6.75%* for salaried individuals and 8.50%* for self-employed individuals. With flexible repayment options, relaxed eligibility criteria, minimum documentation requirements, and doorstep service, our home loan offering focuses on making it affordable for everyone to purchase a home.
What’s more, we believe in complete transparency. When you avail of a home loan with Bajaj Housing Finance, you are aware of how much you need to pay, when, and for what. Trust us to be your partner in the journey to your dream home.
Bajaj Housing Finance home loans are designed to fulfil all your mortgage financing needs. Get a high-value housing loan at an attractive interest rate, with several other benefits that not only make buying a home affordable but also simple and hassle-free.
Switch your home loan from your existing lender to Bajaj Housing Finance Limited and enjoy attractive interest rates and better terms. Meet our simple eligibility criteria and submit your basic documents to ensure faster processing.
Transfer your home loan to Bajaj Housing Finance for a sizeable top-up that comes free of end-use restrictions. You can use the amount to fund your child’s education or buy a new car, whatever be your financial need.
When you apply through a Primary Lending Institution (PLI) registered with the Central Nodal Agency (CNA), such as Bajaj Housing Finance Limited, you can get a subsidy on the rate of interest on your home loan.
Bajaj Housing Finance offers expert counselling to help you make the best home buying decision. From helping you find the right property to getting the legalities in order, we will help you every step of the way.
No part-prepayment and foreclosure charges are applicable on your home loan if you are an individual buyer.
A home loan can often be a long-term commitment, which is why it is important that you are given the option to repay at your pace. With a tenor of up to 30 years, Bajaj Housing Finance offers you the option of flexible repayment.
Our minimal documentation requirements take the stress out of transferring your home loan. Enjoy easy application with maximum convenience when you apply with Bajaj Housing Finance.
Our online customer portal ensures convenience; access the details of your Home Loan account online anytime, anywhere.
Use our simple and reliable calculators to know more about your home loan eligibility, approximate EMI amount, and the benefits of transferring the rest of your home loan to Bajaj Housing Finance.
Our pan-India network of branches with integrated systems makes it easy for you to get assistance with your property search as well as your home loan application.
With attractive home loan interest rates and a host of benefits to suit your finances, Bajaj Housing Finance Limited home loans are designed to help you get your dream home with ease and comfort. To enjoy benefits such as easy balance transfer, high-value top-up loan, hassle-free processing, and more apply for a home loan with Bajaj Housing Finance today.
Note: The PMAY subsidy scheme has been not extended by the regulatory authority for MIG I and II categories. Please check the category-wise scheme validity below.
1. EWS and LIG categories are valid up to 31 March 2022
2. MIG I and MIG II categories were valid up to 31 March 2021
Rate of Interest
Total Interest Payable
Total Payment (Principal + Interest)
It is important you review all eligibility criteria before you apply for a home loan. At Bajaj Housing Finance, the eligibility criteria are simple and straightforward. Note that meeting all parameters in the criteria improves the chances of loan approval and makes processing hassle-free.
Here’s how salaried and self-employed individuals can apply for a home loan with Bajaj Housing Finance.
Step 1: Visit our official page and enter your name, contact number, employment information, and residential pin code to generate OTP.
Step 2: Use our home loan eligibility calculator to check your eligibility for your desired loan amount and use the home loan EMI calculator to arrive at an affordable loan amount and convenient repayment tenor.
Step 3: Fill in all personal, financial, and employment details in the online application form, along with detailed information about the property you wish to purchase.
Step 4: You will then be asked to pay a minimum security fee, after which a Relationship Officer from Bajaj Housing Finance will contact you to proceed with the remaining formalities
Step 5: Upload all the necessary documents via our online portal.
In case you do not wish to apply online, we also accept applications via the SMS facility.
Borrowers can select from the different types of home loans available to suit their residential property purchase needs.
House purchase is a critical decision with sizable financial implications, both when self-financing such purchase and when availing a housing loan for property purchase.
Make sure the size and location of the property meet your family’s requirements. Base your selection on the space available in measurement units such as sq. ft. as well as accommodations, such as the number of bedrooms.
The location of the property is another significant aspect of consideration. Check the availability of social infrastructure, such as hospitals, shopping areas, and educational institutions, when deciding a property’s location. These factors also typically determine the market price of a property.
House purchase is a critical decision with sizeable financial implications, both when self-financing such a purchase and availing of a housing loan for property purchase. Thus, it is imperative you pick a property free of any legal liabilities.
Choose a property affordable for you to ensure comfortable repayment. Bajaj Housing Finance provides high-value home loans at attractive rates to make financing a house purchase affordable. Existing borrowers can also opt for a home loan balance transfer to refinance their outstanding loan amount and avail of a top-up amount.
While buying a home, pay attention to important property aesthetics, such as sustainable design, view, layout, interiors, and exteriors.
A property’s age determines its remaining life and contributes critically to its market price as well as resale value. The age of the property also contributes to lender assessment when availing of home loans in India for residential property purchase. A newly constructed property with a long shelf life commands a high market price as well as resale value and helps raise a substantial fund as a housing loan when mortgaged.
Individuals must also consider the project completion status when purchasing a housing property under construction, as this can help determine tax benefits when financing a house purchase through a home loan.
Other essential considerations to make before purchasing a house include availability of amenities, developer’s reputation, security, and tax payment status of the seller.
A home loan is a secured credit option to finance the purchase of a residential property. It is a kind of mortgage loan where the property in question is kept as a mortgage with the lender till the borrower repays the entire loan amount over a predetermined tenor.
Bajaj Housing Finance offers home loans at affordable interest rates with flexible repayment tenors. Use our home loan EMI calculator to determine the loan amount suitable for you, the total interest outgo in advance, and the tenor that suits your capacity. Borrowers can opt for fixed or floating interest rate regimes as per their preferences.
Visit our office to know more about home loans and their terms and conditions. We also provide pre-approved offers to expedite the loan availing process.
Avail of up to 80% of your property’s current market value as a home loan and consider the remaining amount for a down payment. You can avail of the maximum amount by improving your eligibility as a borrower.
The loan-to-value (LTV) amount depends primarily on your credit profile and repayment capacity. It also depends on the property’s location and amenities. You can avail of a higher loan amount when you choose a property situated in a well-connected location, equipped with all modern-day amenities.
Additionally, keep an eye on your CIBIL Score; a high CIBIL score can help you get a low rate of interest with better pending terms. Contact Bajaj Housing Finance today to get a more elaborate answer to, ‘can I get a 100% home loan?’
Check out the following pointers to know how a home loan works in India:
After selecting a property, apply for a home loan with your preferred lender by submitting a form along with the necessary documents listed by the lender.
The lender sanctions the loan amount after verifying the documents. The disbursal happens directly in favour of the seller/builder who enters a sale agreement with the borrower. The property papers are then kept with the lender for the entire period of repayment.
After the loan amount is disbursed, the borrower starts paying the EMIs. The entire loan principal and the total interest charged are distributed in monthly instalments throughout the repayment tenor.
Once the full amount is repaid, the loan account is closed. Once closed, the lender provides an NOC to the borrower and releases the property papers.
In the case of salaried individuals, the loan is sanctioned within 4–5 days of making an application. In the case of self-employed individuals, the funds become available within 7–8 working days.
Existing Bajaj Housing Finance customers can consider availing of pre-approved offers that expedite the home loan sanction process. Meet all the eligibility parameters and submit all necessary documents to make the process hassle-free.
Avoid misinformation while filling the loan application form as doing so can lengthen the disbursal time significantly. Also, such mistakes can also lead to credit rejections.
Choose from different home loan types to finance your house purchase, construction, or renovation. The prominent home loan types available in India include new home loans, home construction loans, home loans for renovation, joint home loans, housing finance for women, housing finance for government employees, loans for private employees, pre-approved home loans, etc.
Yes, you can avail of home loan tax benefits annually on both the principal and interest amount paid towards the total repayment liability. Section 80C of the Income Tax Act 1961 allows an annual tax deduction of up to Rs.1.5 lakh on the home loan principal repayment. Section 24B also allows a home loan tax exemption of up to Rs.2 lakh on the interest paid annually for a self-occupied property. In the case of a rented property, the benefits do not carry any maximum limit
For properties under construction, tax benefits on interest payment are limited to Rs.30,000 annually. First time home buyers purchasing a home under the Pradhan Mantri Awas Yojana can also claim an additional interest tax deduction of Rs.50,000 under section 80EE.
Some of the factors that determine a person’s home loan eligibility criteria are age, income, employment status, place of residence, and property value. The amount of a home loan available also depends on property specifics, such as age, location, accessibility, social infrastructural facilities available, current market price, and the resale value, apart from the set home loan eligibility criteria. Borrowers can make a higher down payment to increase their eligibility for the advance.
A salaried individual applying for a home loan must fulfil the minimum salary threshold depending on his/her city of residence. For cities such as Delhi, Mumbai, Faridabad, Ghaziabad, Noida, and Thane, the minimum salary requirement is Rs.30,000.
For cities such as Ahmedabad, Bengaluru, Ahmedabad, Bhopal, Baroda, Chennai, Goa, Hyderabad, Kolkata, Mysore, Nagpur, and Pune, the minimum salary requirement is Rs.25,000. Use our home loan EMI calculator to assess a suitable loan amount to keep your EMIs affordable as per your salary.
Yes, borrowers can opt to prepay their outstanding home loan amount at any time before the loan tenor ends. They can do so by availing of either the part-prepayment or foreclosure facility against a nominal charge. A part-prepayment facility allows borrowers to reduce their total loan liability by a significant margin.
The foreclosure feature allows individuals to close their loan account early via complete repayment in a lump sum. Bajaj Housing Finance does not levy any charges on part-prepayment or foreclosure when individuals avail of home loans on floating interest rates.
No, as home loans are secured via residential property mortgage, a guarantor is not required to avail of the advance. Borrowers must, however, fulfil the minimum eligibility criteria to qualify.
The loan amount available as housing finance depends on various eligibility factors such as the applicant’s income, age, property value and property age, and property location. The lender’s LTV also determines the maximum amount available to a borrower as a home loan. Bajaj Housing Finance provides home loans to eligible borrowers up to an LTV of 85%.
Yes, an existing borrower can avail of a second home loan to finance his/her house purchase plans. The loan amount, in this case, depends on various factors, such as income, age, credit profile, and city of residence. A second home loan on the same property is, however, not allowed as per CERSAI.
A borrower must also meet the home loan eligibility criteria laid down by the lender to avail of the housing finance. When in need of additional funds to carry out home renovation or reconstruction, opt for a balance transfer facility with Bajaj Housing Finance. Using this option, you can avail of a high-value top-up loan with no end-use restriction for convenient financing of diverse funding needs.
The home loan interest rate levied by lenders is either fixed or floating. A fixed rate means that interest is charged on a home loan at a constant rate throughout the loan tenor. It helps borrowers determine the total interest payable at the onset of the repayment tenure.
Yes, borrowers can switch from a fixed rate home loan to a floating rate loan against a nominal fee payment. They must, however, go for a cost-benefit analysis before opting for the switch to ensure that the floating rate interest charged will help them save on the total repayment liability.
Borrowers can also opt for a home loan balance transfer when planning to check the total interest accumulation on their home loans.
Two or more co-applicants can apply for a joint home loan if they fulfil the required eligibility criteria. Joint home loans allow co-borrowers to avail of a high-value loan through combined eligibility and let them share the repayment burden equally over the tenure.
To avail of a joint home loan, co-borrowers must also share the property ownership. For each year of repayment, co-borrowers can also claim income tax benefits individually as per their share of the repayment amount paid.
Financial institutions provide home loans individually to eligible applicants. Individuals lacking the necessary eligibility or requiring a higher loan amount can apply with a co-applicant for a joint home loan. The co-applicant for a joint home loan can be a parent, spouse, sister, brother, son, or daughter. Each co-applicant must individually fulfil the home loan eligibility criteria to qualify for the required housing loan amount.
Marginal Cost of Funds based Lending Rate or MCLR is an internal benchmarking system that financial institutions use to set their consumer lending rates for home loans and other advances. It comes with a reset period spanning 3 months, 6 months, 1 year, or 2 years, and is released by financial institutions monthly. Factors contributing to MCLR determination include the marginal cost of funds, operating cost, tenure premium, and the negative carry on Cash Reserve Ratio. With the introduction of RLLR or Repo Linked Lending Rate, the MCLR-based lending system is set to be replaced with a more transparent, repo-rate receptive method of interest rate determination.
NRIs can avail of a housing loan by fulfilling minimum eligibility criteria and documentation requirements. They must be between 18 and 60 years of age and should apply with a co-applicant who is a resident Indian to avail of a housing loan. They must also be able to show a work experience of not less than 2 years in their current company as well as meet the educational qualification set by the lender to avail of the loan
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How to Apply for Home Loan
Pradhan Mantri Awas Yojana
PMAY Eligibility Calculator
Home Loan Tax Benefit
Home Loan Balance Transfer
Housing Loan FAQ
Stamp Duty Calculator
E Home Loan
Last update on 11-Mar-2021
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