Home Loan in Visakhapatnam: Overview
Visakhapatnam is not just a beautiful city but also the only one from Andhra Pradesh to be included in the country's list of top 10 investment destinations. Home to beautiful beaches, the city attracts tourists around the year who come to enjoy its scenic beauty as well as its pleasant climate. However, there is more to Visakhapatnam -- it boasts several great academic institutions and all-weather harbours. The city is one of the major industrial centres on the Eastern Coast and the commercial capital of Andhra Pradesh, which leads to high real estate demand.
Buying a property in Visakhapatnam now might be a good idea as it is a growing city. If you are planning to avail of a Home Loan in Visakhapatnam, Bajaj Housing Finance provides you with attractive interest rates starting at 8.50%* p.a. for salaried applicants. Our quick loan processing makes your homebuying process comfortable. Here is a brief overview of the benefits of availing a Home Loans from us.
Home Loan in Visakhapatnam: Features and Benefits
Competitive Interest Rates
Bajaj Housing Finance offers Home Loans in Visakhapatnam at interest rates starting as low as 8.50%* p.a. for salaried individuals. This means you can now buy your dream home by paying as low as Rs.759/Lakh* in EMIs. Further, with Bajaj Housing Finance, borrowers stand a chance to avail of funds of Rs.5 Crore* or more as a loan based on their eligibility.
Home Loan Balance Transfer
For better borrowing terms, you can get your existing Home Loan transferred to Bajaj Housing Finance and benefit from our competitive interest rates starting at 8.50%* p.a. for salaried applicants.
Top-Up Loan
Opt for a Home Loan Balance Transfer with Bajaj Housing Finance and avail of funds up to Rs.1 Crore* or more based on your eligibility as a Top-up Loan.
Flexible Tenor
Pay off your loan over a period extending up to 32 years* and keep your EMIs affordable making repayment of your loan completely stress-free.
Customized Repayment Plan
Have your eyes on an under-construction property but do not want to take on the burden of paying full-value EMIs until the construction on the property is complete? Opt for our customized repayment plans and pay only a part of your EMIs until suitable for you otherwise.
Simple Eligibility and Documentation Requirements
Our eligibility and document requirements for a Home Loan in Visakhapatnam are simple and easy to meet. In other words, getting your home finance approved with us is quite easy.
Online Tools for Better Decision Making
Use our online calculators to figure out the right combination of the loan value, EMIs, and tenor for you. Further, use these calculators to plan your monthly budget in such a way that you are never behind on your EMI payments.
Online Account Management
Access your account details, make payments, raise queries and do a lot more at any time and from anywhere using our online customer portal.
PAN India Branch Network
Uncomfortable making an application online? Have a query? Now walk into a Bajaj Housing Finance branch located near you and get all your issues resolved in person by our well-trained staff.
Calculate Your Home Loan EMI
Repayment Schedule
Eligibility Criteria for a Home Loan in Visakhapatnam
Our eligibility criteria for a Home Loan are simple and easy to meet for both salaried and self-employed professionals. Here they are:
- Salaried applicants applying for a Home Loan must be an Indian citizen (including NRIs) between the ages of 21 and 75 years**
- Salaried applicants must also be able to show at least 3 years of work experience
- Self-employed applicants applying for a Home Loan must be an Indian (resident only) between the ages of 23 and 70 years**
- Self-employed applicants must be able to show at least 3 years of business vintage
**The maximum age is considered as one’s age at the time of loan maturity. Additionally, the maximum age limit for applicants is subject to change, depending on the property profile.
Documents Required for a Housing Loan in Visakhapatnam
If you are applying for a Home Loan in Vishakhapatnam with Bajaj Housing Finance, please keep these documents*** ready:
- KYC documents, such as Aadhaar, Passport, Ration Card, Utility Bills
- Passport-size photographs
- PAN card or Form 60 are mandatory for all borrowers
- Form 16 and/or the latest salary slips for salaried individuals
- TR document and Profit and Loss statements for self-employed individuals
- Bank account statements of the previous 6 months
- Document for proof of business, with a minimum of 3 years’ vintage (for businessmen/self-employed individuals only)
***Please note that this is only an indicative list. You may be asked for more documents at the time of loan processing. These requirements will be communicated to you by our team.
How to Apply for a Home Loan Online in Visakhapatnam?
Follow these steps to make an online application with us:
- Visit our website and open our online application form
- Enter name and number
- Select your loan type and employment type
- Enter your net monthly salary or income
- Input your PIN code to check if your location is served
- Input the loan amount you are seeking
- Generate OTP and submit
Someone from our team will call you to explain the steps ahead.
Alternatively, you can also apply for a Home Loan offline by walking into any of our branches around India.
*Terms and conditions apply.
With Bajaj Housing Finance Home Loan, you can expect the loan amount to be disbursed within 48 Hours* post document verification.
Here is a list of documents you will have to submit to apply for a Home Loan in Visakhapatnam:
- KYC Documents: Aadhaar Card, Voter's ID, and Utility Bills.
- Mandatory Documents: PAN Card or Form
- Proof of Income: Latest salary slips for salaried applicants and P&L statements for self-employed applicants
- Business Proof: Documents showing the business vintage of 3 years (for self-employed applicants only)
- Account Statements: Statements of your primary account of your last 6 months as proof of income
This is a tentative list of documents.
Need a Home Loan in Visakhapatnam? Bajaj Housing Finance sanctions amounts of Rs.5 Crore* or more, based on your eligibility.
To be eligible for a Home Loan in Visakhapatnam:
- Salaried applicants: Age must be between 21 and 75 years**
- Self-employed applicants: Age must be between 23 and 70 years**
**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.
You can access our housing loan eligibility calculator to estimate the loan amount you may qualify for based on a salary of Rs.50,000.
You can apply for a Home Loan in Visakhapatnam with us and enjoy a repayment tenor of up to 32 years.
