About Home Loan_WC
Home Loan Overview
Bajaj Housing Finance offers a sizeable home loan of Rs.5 Crore* or even higher, based on eligibility. Our interest rates start at 8.30%* p.a. for eligible salaried individuals and professionals, with EMIs as low as Rs.755/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 Crore* or higher, basis eligibility, and online account management. A housing loan can also help you avail of tax benefits under various sections of the Income Tax Act (ITA).
Features & Benefits of Home Loan
Competitive Interest Rate of 8.30%*
Make the most of our attractive Housing Loan interest rate today. At 8.30%* p.a., salaried and professional applicants can benefit from Home Loan EMIs as low as Rs.755/Lakh*.
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 start as low as 8.30%* p.a.
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.
Enjoy a truly hassle-free experience with our application process. Skip the branch visits and opt for our doorstep document pick-up service.
Zero Part-Prepayment and Foreclosure Charges
Home loan borrowers who are individuals with a floating interest rate can prepay parts of their home loan or foreclose the entire sum without any additional fees or penalty.
External Benchmark Linked Loans
You also have the option to link your Home Loan interest rate to an external benchmark, i.e., the Repo Rate, and benefit from reduced payouts during favourable market conditions.
5,000+ Approved Projects
Choose a property from our list of 5,000+ approved projects and enjoy the best borrowing terms, along with quick and hassle-free processing.
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 Crore* or even higher, depending on your eligibility.
Top-up of Rs.1 Cr*
When you transfer your loan balance to Bajaj Housing Finance, you not only stand to 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 home renovation.
Disbursal in 48 Hours*
Home Loan applicants can expect to receive their sanction within 48 Hours* , following the approval of their application and documentation verification.
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.
Online Tools for Better Decision-Making
Home loan borrowers and applicants alike, can make good use of our online calculator tools to plan their repayment schedule and loan applications better. The Eligibility Calculator and the EMI Calculator helps individuals arrive at their ideal loan amount and tenor, that suits their financial standing.
Online Account Management
Borrowers continue to enjoy a seamless borrowing experience even after the amount is disbursed. One can access all their loan account details and related documents through the Bajaj Housing Finance Customer Portal, without any external dependency.
Home Loan Eligibility Criteria
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.
|Nationality||Indian (Non-NRI)||Indian (Non-NRI)|
|Employment||Minimum 3 years of work experience in a public or private sector company, or an MNC||Minimum 5 years of vintage in the 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_WC
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.
KYC documents – Photo ID (Aadhaar Card, PAN Card, Voter ID, Driving Licence, etc.), residential proof (utility bills, Ration Card, Passbook, etc.)
Salary slips – 3 months (salaried applicants, salaried professional applicants), proof of business (self-employed professional, non-professional applicants), etc.
Education certificates – MBBS and above (self-employed professionals – doctors), valid COP (self-employed professionals – CAs), etc.
Bank account statement – 6 months, ITR, P&L statement (self-employed professional, non-professional applicants), etc.
Title deed, property tax receipts, allotment letter, etc.
Note: Additional documents may be requested at the time of loan processing.
How to Apply for a Home Loan Online
If you’re wondering how to apply for a housing loan, the below guide will walk you through our easy loan application process.
- Visit the official website and navigate to the home loan application form
- Enter your full name, mobile number, employment type, income details, PIN code and the required loan amount.
- Enter the requested OTP and complete the rest of the application.
Once we receive your housing loan application, our representative will get in touch with you within 24 hours* to walk you through the next steps.
Do’s and Don’ts while you Applying For Home Loan_WC
Do’s and don’ts while applying for a housing loan
|Check your CIBIL score before applying for a home loan||Don’t default on outstanding EMIs as it may impact your CIBIL score adversely|
|Take the time to optimise your credit score to improve your chances of being offered competitive terms||Don’t apply for multiple loans simultaneously, as it can reduce your eligibility|
|Look up the relevant fees and charges well in advance||Don’t proceed without understanding your interest rate and other charges that may apply in the future|
|Collate all relevant documents that you will need to submit to support your application to ensure quick processing and approval||Don’t apply for home finance without checking the eligibility criteria and list of documents required|
|Check your eligibility with an online calculator to make an informed decision on the loan amount, tenor, and EMI||Don’t avail of disproportionate sums, that can lead to unmanageable EMIs.|
|Look for a property with a good location and amenities to maximise your chances of an increment in the resale value.||Don’t choose a property where the ownership is disputed|
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 or commercial property. Our interest rate starts from 8.30%* p.a. for salaried and professional applicants.
Housing loans are secured loans, wherein the property to be purchased serves as the collateral against the loan amount. A certain extent of the property ownership remains with the lender, until the repayment amount has been repaid with interest.
Housing 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% of the loan amount.
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).
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 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.
When you apply through our Online Home Loan application form, you can get a 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.
Depending on the end-use and application type, one can choose from a variety of Home Loans, including:
- Fresh Home Loan
- Home Loan Balance Transfer
- Home Loans for Professionals
- Home Renovation Loan
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)
The exact minimum salary required for House Loan can vary as per the location. Prospective borrowers should be able to showcase a minimum of Rs.30,000 as their monthly income to be considered for a Housing Loan.
Yes, you can avail of two Home Loans at the same time, depending on your eligibility. Your financial, income, employment, and credit profile will define whether you are in a position to service another loan and, subsequently, if you should be offered another sanction.