Home Loan Interest Rates

Home Loan - Fees and Interest Rates

When you take a loan from Bajaj Housing Finance Limited (BHFL), you get the benefits of attractive interest rates along with transparent fees and charges. The fees and charges applicable on a loan are as follows:

Interest Rate for Salaried Borrower

Benchmark Rate (BR)	Prevailing BR	Loan type	Type of Rate	BR + Spread	Effective Rate of Interest (per annum)
Repo Rate (RR)	4.00%	Home Loan	Floating	RR+ 3.25 % to RR+ 8.00%	7.25% to 12.00%
Repo Rate (RR)	4.00%	Top up	Floating	RR+ 3.75 % to RR+ 8.00%	7.75% to 12.00%
Salaried Floating Reference Rate (SAL-FRR)	12.90%	Home Loan	Floating	FRR-5.40% to FRR -0.90%	7.00% to 12.00%
Salaried Floating Reference Rate (SAL-FRR)	12.90%	Top up	Floating	FRR-5.15% to FRR -0.90%	7.75% to 12.00%
Salaried Floating Reference Rate (SAL-FRR)	12.90%	Loan Against Property	Floating	FRR-4.40% to FRR -0.90%	8.50% to 12.00%

Interest Rate for Self-Employed borrower

Benchmark Rate (BR)	Prevailing BR	Loan type	Type of Rate	BR + Spread	Effective Rate of Interest (per annum)
Self Employed Floating Reference Rate (SE-FRR)	13.30%	Home Loan	Floating	FRR-4.80% to FRR +0.20%	8.50% to 13.50%
Self Employed Floating Reference Rate (SE-FRR)	13.30%	Top up	Floating	FRR-4.30% to FRR +0.20%	9.00% to 13.50%
Self Employed Floating Reference Rate (SE-FRR)	13.30%	Loan Against Property	Floating	FRR-3.30% to FRR +0.20%	10.00% to 13.50%

Disclaimer

BHFL charges an additional rate over the benchmark rate, called “Spread”, to arrive at the final lending rate. Spread will vary basis various parameters such as the Bureau Score, Profile, Segments, approval from competent authority etc for arriving at final lending rate
The above-mentioned rates are for new loans originated post August 2020 and not for existing loans and accordingly the Effective rate of interest on existing loans may be different.
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.
Above benchmark rates are subject to change. The Company will update the applicable benchmark rates on its website as and when changes done.

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