Get a Home Loan from Bajaj Housing Finance
Bajaj Housing Finance offers a sizeable Home Loan of Rs.5 Cr* or even higher, based on eligibility. Our Home Loan interest rates start at 7.20%* p.a. for eligible salaried individuals and professionals, with EMIs as low as Rs.679/Lakh*.
With a flexible repayment tenor of up to 30 years, you can repay your EMIs conveniently. We also offer other benefits such as disbursal within 48 hours* of document submission and approval, balance transfer with a top-up of Rs.1 Cr* or higher basis eligibility, and online account management. A Home Loan can also help you avail of tax benefits under various sections of the Income Tax Act (ITA).
Features of Home Loan
Competitive Interest Rate of 7.20%*
Make the most of our attractive Home Loan interest rate today. At 7.20%* p.a., salaried and professional applicants can benefit from Home Loan EMIs as low as Rs.679/Lakh*.
Loan Amount of Rs.5 Cr*
Don’t let the sanction amount be an issue when purchasing your dream home. Avail of a sizeable Home Loan of Rs.5 Cr* or even higher, depending on eligibility.
Home Loan Balance Transfer
Borrowers with an existing Home Loan can make the most of our features and benefits by transferring the balance amount to us. Interest rates starting as low as 7.35%* p.a.
Top-up of Rs.1 Cr*
When you transfer your Home Loan balance to Bajaj Housing Finance, you not only benefit from a lower interest rate and reduced EMIs, but you also get the option to avail of a Top-up Loan – be it for debt consolidation or a vacation.
Repayment Tenor of 30 Years
Opt for a longer tenor to make your EMIs more affordable over the years. Choose a tenor of up to 30 years and repay comfortably.
Disbursal in 48 Hours*
Once you receive approval post the submission of a complete application with all the necessary documentation, you can expect disbursal in as few as 48 hours*.
Hassle-Free Application
Enjoy a truly hassle-free experience with our application process. Skip the branch visits and opt for our doorstep document pick-up service.
Customized Repayment Options
Want to purchase an under-construction property and pay only a part of your EMIs to begin with? With us, you benefit from customized repayment options.
Zero Part-Prepayment and Foreclosure Charges
Individuals with a floating interest rate Home Loan face no additional fees or charges should they choose to repay a part, or the entire sum, of their Home Loan before the end of the tenor.
Online Tools for Better Decision-Making
A Home Loan is a long-term commitment and requires thorough research. Use our online tools, such as the Home Loan Eligibility Calculator and the Home Loan EMI Calculator, to finalize a loan amount and tenor best suited to your finances.
External Benchmark Linked Loans
Make the most of Home Loan interest rates linked to external benchmarks such as the Repo Rate. Benefit from reduced payouts during favourable market conditions.
Online Account Management
Enjoy a truly hassle-free experience even once the loan is disbursed. Access your statement of accounts and other documents through our customer portal and complete transactions from the comfort of your home.
5,000+ Approved Projects
Choose a property from one of our list of 5,000+ approved projects and enjoy the best borrowing terms, along with quick and hassle-free processing.
Calculate Your Home Loan EMI
A Home Loan is often a long-term commitment; thus, it’s important you make an informed decision. Use a Home Loan Calculator to know your loan EMI and assess its feasibility on a monthly basis. A Home Loan EMI Calculator is an easy-to-use online tool, wherein you adjust the loan amount, tenor, and interest rate to know the corresponding loan EMI and total interest payable.
Home Loan EMI Calculator
Loan AmountRs.
1L10Cr
TenorYears
130
Interest Rate%
115
Repayment schedule
Home Loan Eligibility Criteria
When considering vendors, it is important to check the Home Loan eligibility criteria so you can maximize your chances of approval. Our criteria vary on the basis of employment type.
| Eligibility Parameters | Salaried | Self-Employed |
|---|---|---|
| Nationality | Indian (Non-NRI) | Indian (Non-NRI) |
| Employment | Minimum 3 years of work experience, preferably with a reputed employer | Minimum 5 years of vintage in current enterprise |
| Age | 23 to 62 years** | 25 to 70 years** |
| Place of Residence | Must reside in one of the cities we operate in | Must reside in one of the cities we operate in |
**Note: The upper age limit is considered as age at the time of loan maturity
Home Loan Document Checklist
To complete your application, you will need to submit supporting documents for the personal, employment, income, and financial information you have mentioned on the form.
- Personal: KYC documents – Photo ID (Aadhaar Card, PAN Card, Voter ID, Driving Licence, etc.), Residential proof (utility bills, Ration Card, Passbook, etc.)
- Income: Salary slips – 3 months (salaried applicants, salaried professional applicants), proof of business (self-employed professional, non-professional applicants), etc.
- Qualification: Education certificates – MBBS and above (self-employed professionals – doctors), valid COP (self-employed professionals – CA), etc.
- Financial: Bank account statement – 6 months, ITR, P&L statement (self-employed professional, non-professional applicants), etc.
- Property related: Title deed, property tax receipts, allotment letter, etc.
Note: Additional documents may be requested at the time of loan processing.
Things to Check Before You Apply for a Home Loan
- Additional Fees and Charges: It is important to know all charges associated with your Home Loan. The most important charge to bear in mind is the processing fee. We levy a processing fee of 0.25% to 7% of the loan amount.
- Interest Rate: The interest rate on your Home Loan is one of the most important factors that will determine how affordable or unaffordable your EMIs and, ultimately, the loan is in the long term. Our Home Loan interest rate starts as low as 7.20%* p.a. for salaried and professional applicants.
- The Ideal Tenor: When assessing the loan amount you wish to avail of, you will need to bear the tenor and, ultimately, the EMI in mind. You have the option to choose a tenor of up to 30 years, but it is ideal to leave some room in your tenor and not avail of the highest available duration. This is because in case your interest rate increases over the course of your tenor, your increased interest outflow can be adjusted against an increase in your tenor rather than an increase in your Home Loan EMI.
- Check Your Eligibility and EMI: Before you go ahead and apply for the loan, it is important you check the loan amount you are likely to be eligible for. On the basis of your eligibility and the property you wish to purchase, you should also check your Home Loan EMI. Knowing these details will help you make an informed decision well in time.
- Apply with the Optimal CIBIL Score: Your CIBIL score is an important factor that contributes towards your eligibility. Check your CIBIL and try and enhance it before you apply so as to avail the most favourable borrowing terms. It is recommended you apply for a Home Loan once your CIBIL score is over 750.
Planning to Buy Your Dream Home? Bajaj Housing Finance Is Here to Help
A Home Loan is a long-term commitment and having the right partner in this journey is crucial to ensure a smooth and hassle-free experience for years. When you apply with Bajaj Housing Finance, not only are you assured of competitive interest rates, but you also benefit from a repayment tenor of up to 30 years, contact-free processing, and quick approval and disbursal.
What’s more, you also have the option to link your Home Loan to an external benchmark, such as the RBI repo rate, which enables complete transparency in the rate setting mechanism. Those with an existing Home Loan can also make the most of our features by opting for Home Loan Balance Transfer and switching to us.
When you transfer the balance amount on your Home Loan to Bajaj Housing Finance, you can avail of a lower interest rate, as well as make the most of a Top-up Loan of Rs. 1 Cr* or higher, basic eligibility.
How to Apply for a Home Loan Online
If you’re wondering how to apply for a Home Loan, the below guide will walk you through our easy Home Loan application process.
- Visit our application form
- Enter your full name, mobile number, PIN code, and occupation type
- Enter your date of birth, PAN number, income, and other details
Once you submit the application, our representative will get in touch with you within 24 hours* and explain the next steps. Alternatively, you can also walk into any of our branches around India, where our representatives can guide you through the process.
Home Loan FAQs
A Home Loan is a financial solution that enables individuals as well as entities to borrow funds for the purchase or renovation of a residential/commercial property. Our Home Loan interest rate starts from 7.20%* p.a. for salaried and professional applicants.
A Home Loan is a secured loan, wherein the property to be purchased serves as the collateral against the loan amount. In other words, the property ownership, to an extent, remains with the lender until you repay the entire sum with interest. A Home Loan interest rate is relatively low compared to, say, the interest rate of a personal or business loan because of the loan’s secured nature.
Under a Home Loan, you borrow funds at a predetermined interest rate and agree to pay the sum (principal) back, with interest, over a predetermined time frame (tenor) through equated monthly instalments (EMIs).
Home Loan processing fees refer to the main fee charged with every loan application. It is the amount the lender charges to process your application and extend funding. The fee varies from lender to lender and person to person. We charge a processing fee starting from 0.25% to 7.00%.
When initiating a Home Loan application, you can either visit our branch or visit our online application form to apply. Our Home Loan application is easy and straightforward. Follow the below steps to apply online.
- Visit our online application form and enter your name, occupation type, mobile number, and PIN
- Enter your name, occupation type, mobile number, and PIN
- Click on submit
When you apply through our Online Home Loan application form, you can get a Home Loan sanction letter in 10 minutes. The form is a DIY journey that allows you to avail of a digital sanction letter by submitting basic details and paying a nominal fee.
When availing of a home loan jointly, you can apply with your parents, spouse, children, or siblings as co-applicants. A few relationships are exceptions here, including married daughters and parents.
MCLR stands for ‘Marginal Cost of Funds Based Lending Rate.’ An internal benchmark used by financial institutions, the MCLR is the minimum interest rate at which the institution can lend. The MCLR system was introduced in the year 2016 to replace the Base Rate system. It offered better transmission of interest rate benefit to customers.
The Repo Rate is an instrument used by the RBI to control lending and, ultimately, inflation in the Indian economy. Thus, a repo rate linked Home Loan is a housing loan where your interest rate is linked to the repo rate. It offers you more transparency in the rate setting mechanism and better transmission of benefits in favourable market conditions.
As the name suggests, a Top-up Loan is an additional amount one can avail of over and above their existing Home Loan. Home Loan borrowers can choose to transfer the balance amount on their Home Loans to another lender for more competitive interest rates and better borrowing terms.
When you avail of a balance transfer with Bajaj Housing Finance, you have the option to apply for a Top-up Loan of Rs. 1 Cr* or higher, basis eligibility. Here, the amount comes without any end-use restrictions, so you can choose to spend it as you deem fit.
Depending on the end-use and application type, one can choose from a variety of Home Loans, including:
- Fresh Home Loans (new application)
- Home Loan Balance Transfer (when you switch from one lender to another)
- Home Loans for Professionals (tailored offers for professionals)
- Home Renovation Loan (A balance transfer with top-up where you can use the latter for renovation)
Yes, home loan borrowers can claim tax benefits under several exemption sections.
- Section 24(b) – Up to Rs.2 Lakh p.a. (on interest)
- Section 80C – Up to Rs.1.5 Lakh p.a. (on principal)
*Terms and conditions apply
