Home Loan in Bangalore
Bangalore, now known as Bengaluru, is a thriving city in southern India. Over the last couple of decades, the city has emerged as a hub for IT companies, start-ups, and other enterprises. In fact, some of the biggest companies with substantial investments in India are headquartered in Bangalore.
The population in the city has grown alongside the city’s economy, with many in the workforce migrating there for opportunities. Subsequently, Bangalore’s real estate market has been booming. If you’re looking to buy a Home Loan in Bangalore – be it to stay or invest – a Bajaj Housing Finance Home Loan can be one of your ideal financial solutions.
Apply for a Home Loan with us and benefit from competitive interest rates starting at 7.35%* p.a. for salaried applicants.
Features and Benefits of a Home Loan in Bangalore
Competitive Interest Rate of 7.35%* p.a.
Salaried applicants can avail of a Home Loan at an attractive interest rate starting as low as 7.35%* p.a.
Top-up Loan
You can also opt for a sizeable Top-up Loan with a Home Loan Balance Transfer. You are free to use the amount to fund any housing requirements.
Flexible Tenure
Bajaj Housing Finance offers a repayment tenure of up to 32 years, making repayment more convenient and manageable.
Part-prepayment and Foreclosure Facility
We levy no charges on part-prepayment and foreclosure for individual borrowers with floating interest rates who have availed of a Home Loan. However, individuals and non-individuals who have availed of loans for business purposes may not have this facility.
Online Home Loan Calculators
Calculate your Home Loan EMI based on the loan amount, tenure, and rate of interest and plan your finances better. Our online housing loan EMI calculator allows you to determine your monthly payments and Home Loan eligibility, so you have all necessary information before you apply.
Minimal Documentation
We set minimal documentation and simple Home Loan eligibility criteria to make the process hassle-free.
Online Account Management
Enjoy a truly digital experience once you avail of the loan. Access your loan details, transact, and complete overdue or advance Home Loan EMI payments via our Customer Portal.
Quick Processing
Enjoy a hassle-free process with doorstep document pick-up, easy approval, and speedy disbursal. Once you submit all the requested documents, the verification process is expedited to help you finalise the chosen property at the earliest.
Integrated Branch Network
With our pan India network, you have the option to walk into our closest branch for in-person assistance with your application. All our branches have integrated systems to provide seamless support anywhere around the country.
Easy Balance Transfer Facility
A Home Loan Balance Transfer is an easy way to save funds. Transfer the Home Loan balance from your existing lender to Bajaj Housing Finance for a competitive rate of interest and a range of other benefits.
Interest Rates for a Home Loan in Bangalore
Home Loans with Bajaj Housing Finance come with attractive interest rates starting at 7.35%* p.a. for salaried applicants. Click here to learn more about our Home Loan interest rates in detail.
Eligibility Criteria for a Home Loan in Bangalore
For Salaried Individuals
- You should be a residing Indian citizen (including NRIs).
- You should be between 23 and 67 years** of age.
- You should be a salaried individual with a work experience of at least 3 years.
For Self-Employed Individuals
- You should be an Indian (resident).
- You should be between 23 and 70 years** of age.
- You should be able to showcase steady income from a business with a vintage of at least 3 years.
**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
Documents Required for a Home Loan in Bangalore
You will need these documents to apply for a Bajaj Housing Finance Home Loan:
- KYC documents (address and identity proofs)
- Mandatory documents (PAN Card/Form 60)
- Photographs
- Form 16 and latest salary slips (for salaried individuals)/ ITR Document and P&L Statement for the last 2 years (for self-employed individuals)
- Bank account statements for the last 6 months
- Document for proof of business, with a minimum of 3 years of business vintage (for businessmen/self-employed individuals only)
Please note that the list of documents mentioned is indicative. During loan processing, additional documents may be needed. These requirements will be communicated to you accordingly.
How to Apply for Home Loan in Bangalore?
To apply for a housing loan in Bangalore with Bajaj Housing Finance, you can either walk into any of our branches or fill out our application form online. Follow the below steps to fill out an online application:
- Go to our Home Loan application form.
- Select your occupation type and loan type from the available dropdown options and enter your PIN code.
- Once you successfully fill these fields, more will populate on the form; proceed to enter your personal details. Here, salaried applicants will need to enter their monthly salary, while self-employed applicants and professionals will need to enter their years of business continuity and practice, respectively, along with other relevant details.
- If you are availing of a new Home Loan and have finalised the property, you will be prompted to fill in the relevant property details.
Once you submit the form, our representative will get in touch with you shortly and explain the next steps, which will include document submission and verification.
*Terms and conditions apply.
Home Loan in Bangalore: FAQs
Bajaj Housing Finance offers competitive interest rates on Home Loans across all cities we function in, including Bangalore. You can check the interest rates here, along with other interest rate related information.
The maximum housing loan amount you can borrow is determined by several factors such as your income, financial obligation, and creditworthiness. Bajaj Housing Finance offers a loan amount of Rs.5 Crore* or more, basis eligibility, for applicants who wish to avail of a housing loan in Bangalore.
Want to apply for a Home Loan in Bangalore with Bajaj Housing Finance? Ensure that you meet the following eligibility criteria:
For Salaried Individuals
- Must be a residing Indian citizen (NRIs included)
- Age should be between 23 and 67 years**
- Should have at least 3 years of work experience in a salaried role
For Self-Employed Individuals
- Must be a resident Indian
- Age should be between 23 and 70 years**
- Must have a business vintage of 3 years or more with stable income
**The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
With Bajaj Housing Finance, you can expect a quick disbursal within 48 Hours* once your documents are verified and approved.
Individuals who have availed of floating interest rate Home Loans in Bangalore need not pay any additional charges for prepaying or foreclosing their loans. However, this may differ for individuals and non-individuals who have secured loans for business purposes.
Yes, salaried NRIs can apply for Home Loans in Bangalore with Bajaj Housing Finance, provided they meet the eligibility criteria.
Yes, you can avail of a Home Loan in Bangalore to purchase an under-construction property.
Under the old tax regime, if you have taken a Home Loan for an under-construction property, tax benefits under Section 24(b) and Section 80C become applicable only after possession. For interest paid during the construction phase, Section 24(b) allows you to claim a deduction in five equal instalments starting from the year of possession, subject to a maximum limit of Rs.2 Lakh per year for a self-occupied property. Under Section 80C you can claim up to Rs.1.5 Lakh on principal repayment only after the construction is complete and you have received possession of the property.
Your credit score is one of the factors that is assessed when you apply for a Home Loan. A higher credit score, typically above 750, can help you secure better rates and terms.
Yes, with Bajaj Housing Finance, self-employed applicants can avail of Home Loans in Bangalore.
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