Who can be a co-applicant for the loan?

A few relations are allowed to be a co-applicant for Home Loan. A husband and wife can be co-applicants. A son and an unmarried daughter can apply together. Brothers can also take a Home Loan together. However, a brother-sister or sister-sister cannot be co-applicants.

What is the difference between a property loan and home loan?

In order to build or buy a home, Home Loan can be taken to realize this dream. On the other hand, property loan or a Loan Against Property is primarily taken by using the existing property as a collateral.

Is a home loan a mortgage?

Yes, a Home Loan is a type of mortgage. A mortgage is a type of loan in which the borrower uses a property as collateral for the loan. In the case of a Home Loan, the borrower pledges the residential property that they are purchasing or constructing as collateral for the loan.

Different Types of Home Loans in India

What is a Home Loan?

A Home Loan is a secured loan that helps individuals purchase a property. The borrowed amount is repaid through EMIs over a specific tenure. In a Home Loan, the property being financed acts as collateral.

Different types of Home Loan products are designed for specific needs — for example, a Home Loan Balance Transfer allows you to shift an existing loan to another lender, Top-up Loan provides additional funding over an existing Home Loan, and construction loans are meant for building a house on owned land.

Different Home Loan Types

There are different types of Home Loans available in India, each designed to meet specific housing and financial requirements. Since every borrower may have different goals — whether purchasing a home, renovating an existing property, or transferring an ongoing loan — choosing the right type of Home Loan is important for better financial planning. Understanding the available options can help borrowers select a loan that aligns with their housing needs and repayment capacity.

Home Loan for Property Purchase This is one of the most common types of Home Loans and is used to purchase a residential property, whether under construction or ready to move in.
Home Renovation Loan A home renovation loan helps borrowers finance repair, remodelling, or improvement-related expenses for an existing residential property.
Home Expansion Loan Home expansion loans are meant for extending or adding to an existing house, such as constructing an additional room or floor. Unlike renovation loans, these loans specifically focus on expansion-related construction costs.
Home Construction Loan A home construction loan is designed for individuals planning to construct a house from the ground up. Some lenders may also include the cost of the plot in the loan amount, subject to certain conditions and timelines.
Home Loan Balance Transfer This facility allows borrowers to transfer an existing Home Loan from one lender to another to potentially benefit from lower interest rates, improved terms, or reduced EMI obligations.
Joint Home Loan A joint Home Loan is taken by two or more co-applicants, helping distribute the repayment responsibility and improve loan eligibility. Joint borrowers may also be able to avail of tax benefits individually, subject to applicable conditions.

Borrowers are advised to diligently research what market lenders are prepared to offer and how to meet their eligibility criteria to benefit from their Home Loan terms. 

Note: The information provided on this page is generic, and Bajaj Housing Finance may or may not offer all Home Loan types mentioned.

Home Loan Interest Rates in India 2026

Bajaj Housing Finance offers Home Loans at competitive interest rates starting at 7.25%* p.a. for salaried applicants. To know our interest rates, click here.

Fixed-Rate vs. Floating-Rate Home Loans

Home Loan interest rates are typically categorised as:

Fixed-Rate Home Loan

In a fixed-rate Home Loan, the interest rate remains constant for a specific period. This means the EMI amount stays unchanged, making it easier for borrowers to plan their monthly finances with certainty. Fixed-rate loans are generally preferred by individuals who want stable repayments and protection from market-related interest rate fluctuations.

Floating-Rate Home Loan

In a floating-rate Home Loan, the interest rate changes over time based on market conditions and benchmark lending rates. As a result, the EMI amount or loan tenure may increase or decrease during the repayment period. Floating-rate loans are often chosen by borrowers who want to benefit from possible reductions in interest rates over time.

Things to Consider before Applying for a Home Loan

Before applying for a Home Loan, it is important to assess your financial readiness and understand the key factors that can influence your loan eligibility and repayment experience.

Evaluate Your Repayment Capacity – Assess your monthly income, existing obligations, and expenses to ensure you can comfortably manage EMIs over the loan tenure.
Check Your Credit Score – A healthy credit score can improve your chances of approval and may help you secure better interest rates and loan terms.
Understand the Total Loan Cost – Apart from the principal amount, consider the total interest payable, processing fees, insurance charges, and other applicable costs.
Review Property Documents Carefully – Ensure that the property has clear legal documentation and meets the lender’s technical and legal verification requirements.

Documents Required for a Home Loan

You will need the following documents*** when applying for a Bajaj Housing Finance Home Loan:

KYC papers, which include your identity and address proofs
Mandatory documents such as your PAN Card or Form 60
Recent passport-size photographs
Form 16 and the latest salary slips if you are salaried, or ITR documents and a Profit & Loss Statement for the past two years if you are self-employed
Bank statements for the previous six months
Proof of business, showing at least three years of business continuity, for applicants who are self-employed or running a business

***This list is indicative.

Eligibility Criteria of a Home Loan

You need to meet the following eligibility criteria to apply for a Home Loan with us:

Employment Type	Eligibility Criteria
Salaried	Must be an Indian resident (NRIs are also eligible) Age should be between 23 and 67 years** Should have at least 3 years of work experience in a private or public organisation or an MNC
Self-Employed	Must be an Indian resident Age should be between 25 and 70 years** Should have a stable income from a business with a minimum vintage of 3 years

****The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.

Benefits of a Home Loan

With Bajaj Housing Finance, you stand to gain from the following benefits:

Attractive interest rates, starting from 7.25%* p.a. for salaried applicants
High loan amount eligibility based on income, credit score, and property value
Flexible repayment tenure of up to 32 years
Quick disbursal in 48 Hours* after document submission and verification
Doorstep documentation pick-up for added convenience

How to Apply for a Home Loan Online with Bajaj Housing Finance?

You can apply for a Home Loan with Bajaj Housing Finance by visiting our nearest branches or filling out our online application form. To apply online, follow the steps given below:

Visit the housing loan application form.
Fill in your basic details such as your name, contact number, and employment category.
Choose the type of loan you wish to apply for and enter your monthly income.
Add your PIN code and mention the loan amount you are looking for.
Click on ‘Generate OTP’, enter the OTP you receive, and then select ‘Proceed’.
Provide the required financial information. The specifics may vary depending on your employment type.
Once all fields are completed, submit your application by clicking on ‘Submit’.

Our representative will connect with you in 24 hours* once you submit your application.

*Terms and conditions

Frequently asked questions

Bajaj Housing Finance offers Home Loans for property purchase, Top-up Loans for home renovation or expansion, and Home Loan Balance Transfer for borrowers who wish to transfer their loan for better terms.

Funds availed of through a Home Loan are used to purchase or construct a property. A mortgage loan, or Loan Against Property, allows borrowers to pledge an existing property as collateral to avail of funds for business expansion, debt consolidation, or home renovation.

A Top-up Loan is an additional loan facility that eligible borrowers may avail of over an existing Home Loan. It can be used for housing-related expenses.

Yes, you can transfer your Home Loan balance to us and secure a sizeable Top-up Loan over and above your Home Loan.