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

* GST as applicable will be payable by the Borrower in addition to the Prepayment Charges.