Bajaj Finserv Home Loan |

Bajaj Finserv Home Loan

Bajaj Finserv Home Loan comes with interest rates starting at 6.90% p.a. You can get up to Rs. 3.5 Crores as loan amount and repay it within a maximum tenure of 20 years. Like other home loans, this one also give you tax benefits. For your additional needs, you can also avail a top up loan of up to Rs. 50 Lakhs. You can save up to Rs. 2.67 Lakhs if your avail the loan under PMAY scheme.

Types of Bajaj Finserv Home Loans

Home Loan

Top Up Loan

Home Loan Balance Transfer

PMAY

Eligibility

Indian residents salaried and self-employed people are eligible

Minimum age of the salaried applicant should be 23 at the time of application and up to 62 years when the loan is matured.

Minimum age of the self-employed applicant should be 25 at the time of application and up to 70 years when the loan is matured.

Salaried applicant must have a minimum work experience of 3 years

Self-employed applicant must have a minimum business continuity of 5 years

Minimum CIBIL score required is 750

Minimum salary required is Rs. 25,000 (Rs. 30,000 in Delhi, Gurugram, Mumbai and Thane).

Interest Rate, Processing Fee, and Other Charges

The current Bajaj Finserv Home Loans interest rates are:

Promotional interest rate – For Salaried Applicants

6.90% onwards

Regular interest rate:

7.00% – 12.00% for salaried and 8.50% – 13.50% for self-employed applicants.

BFL-SAL FRR (Bajaj Finance Limited Floating Reference Rate):

7.75% for salaried and 10.00% for self-employed

Processing fees

Up to 6% of the sanctioned loan amount + GST

Other charges

Part prepayment charges: Nil for floating rate loans and 2% of the part- prepayment amount + GST for fixed rate loans.

Foreclosure charges: Nil for floating rate loans and 4% of the principal outstanding + GST for fixed rate loans.

Secure fee (one time): Up to Rs. 4,999

Charges for EMI bounce: Up to Rs. 3,000 + GST

Penal interest: Up to 2%

Documents Required

Duly filled application form with recent passport-sized photographs

Identity proof (any one): Driving License/ PAN Card/ Passport/ Voter ID

Address proof (any one): Telephone Bill/ Electricity Bill/ Water Bill/ Passport/ Aadhar Card/ Voter ID/ Driving License.

Property documents

Additional documents for salaried:

Form 16

Latest salary slip

Last 6 months bank account statements.

Additional documents for self-employed:

Business continuity proof of 5 years

Last 6 months bank account statements.

Why to Choose Bajaj Finserv Home Loan?

Home loans under PMAY available

Easy home loan balance transfer facility

Property dossier

Top Up loan

Part-prepayment and foreclosure at NIL charges

Flexible repayment tenure

Customised insurance schemes

Online account management

FAQs

Can NRIs apply for Bajaj Finserv Home Loan?

No. Only resident Indians are eligible.

What is the maximum loan amount?

You can avail up to Rs. 3.5 Crores.

What is the maximum top up loan limit?

You can avail up to a maximum of Rs. 50 Lakhs.

What is the repayment tenure for Bajaj Finserv Home Loan?

Up to 20 years.

What is the current interest rate?

The interest rates for Bajaj Finserv Home Loan starts at 6.90% p.a.

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