Home Loan Interest Rates

Home Loan - Fees and Interest Rates

Interest Rate-

Rate of Interest - 7.5%* onwards

Repo Rate-

In the current monetary system, the Reserve Bank of India uses the repo rate as a money market tool to achieve several fiscal goals for the economy. Any increase or decrease in the same effects the ROI of the financial lending institution.

The current repo rate is 4.00% and the BHFL ROI is 8.85%*.

BHFL FRR-

BHFL FRR- 13.35%

*BHFL-SAL FRR (Bajaj Housing Finance Limited Floating Reference Rate for Salaried customers)	12.90%
*BHFL-SE FRR (Bajaj Housing Finance Limited Floating Reference Rate for Self Employed customers) –13.30%	13.30%

** Loan up to 30 Lakhs

“ 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.”

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

Floating Rate Loans: If any Borrower or Co-Borrower is a Non-Individual

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