Loan Against Property Interest Rates

Loan Against Property – Fees and Charges

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

Interest Rates Charges Applicable
Regular interest rate (salaried individuals) BHFL-SAL FRR* – Margin = 10.10% to 11.50%
Regular interest rate (self-employed individuals) BHFL-SE FRR* – Margin = 10.50% to 14.50%
*BHFL-SAL FRR (Bajaj Housing Finance Limited Floating Reference Rate for salaried individuals) 12.90%
*BHFL-SE FRR (Bajaj Housing Finance Limited Floating Reference Rate for self-employed individuals) 13.30%

*The Bajaj Housing Finance Limited Floating Reference Rate for loans against property booked before April 2018 was 12.95%.

Other Fees and Charges Charges Applicable
Processing fee Up to 6%
Loan statement charges NIL
Interest and principal statement charges NIL
EMI bounce charges Rs.3,000
Penal interest 2%
Secure fee Up to Rs.4,999 (one time)

*For term loan, charges will be calculated on the outstanding principal amount.

* For flexi interest only/ Hybrid flexi loan, charges will be calculated on the sanctioned limit.

*For flexi term loan, charges will be calculated on the current dropline limit.

FORECLOSURE CHARGES & PRE-PAYMENT CHARGES 

 

Floating Rate Loans: If all Borrowers and Co-Borrowers are Individuals 

Borrower Type: Interest Type 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.