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Home Loan in Chennai: Overview

Chennai, the capital of Tamil Nadu, is one of the foremost cities in Southern India in terms of economic development and cultural heritage. The city boats of a diversified economy propelled by the services, manufacturing, and automobile industries.

Flourishing economic growth has provided impetus to the city’s real estate sector, with many migrating there for opportunities. As someone looking to purchase a property instead of renting one, a Home Loan can be your ideal solution. Not only do you get the funds needed, you also enjoy tax benefits.


Home Loan in Chennai: Features

Easy Balance Transfer Facility

Lower your Home Loan interest rate by availing of the Home Loan Balance Transfer facility from Bajaj Housing Finance. Transfer the balance on your existing Home Loan to avail of a more competitive interest rate.

Top-up Loan

Receive a sizeable Top-up Loan on your existing Home Loan in Chennai when you avail of a balance transfer. The sanctioned loan amount can be used to meet housing-related needs.

Flexible Repayment Tenor

Enjoy a flexible repayment tenor of up to 40 years, which enables you to choose a tenor that allows for comfortable EMIs. Choose a repayment schedule that matches your repaying capability with our Home Loan EMI Calculator.

Hassle-Free Documentation

Avail of a Home Loan in Chennai through hassle-free documentation. We request minimal documents, which you can choose to submit through our doorstep pick-up service.

Zero Prepayment and Foreclosure Charges

As per RBI guidelines, individuals who avail of a Home Loan at a floating interest rate can prepay or foreclose the loan at no extra cost/penalty.


Home Loan in Chennai: Documents Required

The documents required with a Home Loan application vary as per the borrower’s profile. Listed below are the lists for salaried, professional, and self-employed applicants.

Salaried Applicants Self-Employed Professionals Self-Employed Applicants
Aadhaar, PAN/Driving License, etc. Aadhaar, PAN/Driving License, etc. Aadhaar, PAN/Driving License, etc.
Mandatory documents such as PAN card or Form 60 Mandatory documents such as PAN card or Form 60 Mandatory documents such as PAN card or Form 60
Salary slips (3 months), Form 16, Employee ID, etc. P&L statement P&L statement
Bank account statements (6 months) Bank account statements (6 months) Bank account statements (6 months)
Title Deed, Property Tax Receipts, Allocation Letter, etc. Title Deed, Property Tax Receipts, Allocation Letter, etc. Title Deed, Property Tax Receipts, Allocation Letter, etc.

Note: Additional documents may be required during the time of loan processing.


Housing Loan in Chennai: Eligibility

To qualify for a housing loan, one must be a residing Indian citizen. Additionally, applicants should meet the below eligibility criteria.

Home Loan Eligibility Criteria For Self-Employed Applicants For Salaried Applicants
Age** 25–70 years 23–75 years
Residential status Indian (residents only) Indian (including NRIs)
Employment status A business vintage of at least 5 years in the current enterprise Work experience of at least 3 years at a public/private sector company, or an MNC

**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.


Housing Loan in Chennai: How to Apply

To apply for a Home Loan with Bajaj Housing Finance, walk into any of our branches across India or apply online through our site.

Steps to apply online:

  1. Visit our Home Loan application form
  2. Select your loan type and employment type
  3. Fill in the respective details in the fields, including monthly salary for salaried applicants or business vintage and annual turnover for self-employed applicants
  4. If you are applying for a fresh Home Loan and have selected the property, enter the relevant property details

Once you submit all the details, a representative will call you and explain the next steps. In a nutshell, you will need to submit the requested documents and coordinate with our team for verification and approval.

Before you begin the application, don’t forget to check your Home Loan eligibility. This will help you know the loan amount you can avail of, and thus, improve your chances of approval.

*Terms and conditions apply

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