E HOME LOAN
Bajaj Housing Finance offers attractive home loan interest rates starting at 6.75%* for salaried individuals and 8.50%* self-employed individuals. Borrowers also have the advantage of availing of a high value sanction with minimal documentation and quick processing and approval.
The rate of interest offered to you depends on several factors, two of the most important ones of which are your eligibility and credibility as a borrower. With the right profile, you can take advantage of a low interest rate and better lending terms. While these are the most essential considerations in availing of a home loan, several other aspects hold considerable weightage too. For instance, transparency in additional fees and charges, such as the loan processing fee, can significantly impact your borrowing decision and experience. With us, you are assured of complete transparency to how much you pay, when, and why.
Housing loan interest rates differ for salaried and self-employed borrowers. With Bajaj Housing Finance, or in fact any other lender, applicants can avail of the best home loan rates by meeting the loan eligibility criteria and showcasing a strong credit profile. When you take a loan from Bajaj Housing Finance (BHFL), you not only enjoy attractive interest rates but also transparency in fees and charges.
*Applicable following the first EMI clearance.
* GST as applicable will be payable by the Borrower in addition to the Prepayment Charges
Bajaj Housing Finance extends the best home loan interest rates to borrowers to make financing convenient and repayment affordable in the long term. Applicants can choose from fixed and floating rates, as per their suitability.
Use our home loan EMI calculator to compare the current home loan interest rates and charges and how they affect your EMIs. High eligibility, including income, credit profile, and employment status, will help you keep the home loan rates negotiable.
We offer high loan amounts at competitive interest rates with the benefit of flexible repayment over a long tenor. You are also assured of added convenience with the option to apply online and avail of doorstep service for document collection. Most importantly, we believe in a 100% transparency. You know of all fees and charges right from the beginning, so there are no unpleasant surprises.
The current interest rates applicable to home loans differ based on borrower type. Self-employed applicants can avail of a home loan with Bajaj Housing Finance with floating interest rates starting from 8.50%*. Salaried individuals can avail of a home loan with interest rates starting from 6.75%*. We also offer home loans at fixed rates of interest.
Which of the two is better depends on market conditions. Typically, a fixed rate of interest benefits you when the interest rates are on an upward trend, and a floating rate of interest benefits you when the interest rates are on a downward trend.
A ‘floating’ rate of interest refers to a rate that depends on the repo rate, which is an RBI benchmark. In other words, it increases or decreases in tandem with the repo rate. Under favourable market conditions, a reduced rate will lower the interest amount payable. At present, the repo rate is at an all-time low, which makes floating interest rate the more attractive option.
But before you choose one of the two, use a home loan interest calculator to assess the difference in the total amount payable with a fixed rate versus a floating rate to make an informed decision.
When applying for a home loan with us, applicants are required to pay a processing fee of up to 6% of the total loan amount. Bajaj Housing Finance keeps its home loan processing fees nominal and affordable, ensuring minimum strain on the borrower’s finances when availing the advance.
In simple words, the interest rate depends on your credibility as a borrower, market conditions, and of course, the property in question. Below is a more detailed explanation for each of these.
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Housing Loan EMI Calculator
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Last update on 11-Mar-2021
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