Bajaj Finserv Home Loan
Bajaj Finserv Home Loan is one of the most flexible home loans available on the market. To apply for a Bajaj Finserv home loan, you can submit an online application. Bajaj Finserv home loan requirements are very easy to meet. Bajaj Finserv home loans have several advantages including zero foreclosure charges, flexible repayment tenure and a loan top-up option of up to 1 Crore.
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Features and Benefits of Bajaj Finserv Home Loan
Flexible Repayment
Bajaj Finserv provides flexible EMI repayment plans. You can plan your finances accordingly and repay your housing loan at your pace in 30 years.
Top-up on Existing Loan
A top-up is financial help provided by banks and NBFCs that allows you to borrow an additional amount on your existing loan. Bajaj Finserv provides their customers with top-up loans on balance transfers of existing loans. You can avail a top-up of up to INR 1 Crore with Bajaj Finserv.
Minimal Documentation
Bajaj Finserv offers home loans with simple processing and minimal documentation.
Quick Disbursal
Bajaj Finserv disburses approved loans within 48 hours of verification to provide an optimum experience to the customer.
Attractive Interest Rates
Bajaj Finserv offers flexible and affordable home loans. You can avail of a home loan up to INR 5 crores with interest rates ranging between 8.6% to 14% per annum.
Zero Prepayment Charges
A prepayment is an option provided by banks and NBFCs that allows customers to repay the loan before maturity. Usually, financial institutions charge a percentage of the loan amount if you opt for prepayment. But with Bajaj Finserv, you can prepay your loan and save up on your interest without paying any foreclosure charges.
Bajaj Finserv: Home Loan Eligibility Criteria
| Criteria | For Salaried Individuals | For Self- Employed Individuals |
| Nationality | Indian Resident | Indian Resident |
| Age | 23 years – 62 years | 25 years – 70 years |
| Work experience | 3 years | 5 years of vintage with current entreprise |
| Minimum Salary (Depends on the city of residence) | INR 30,000 to INR 50,000
| INR 30,000 to INR 40,000 |
| CIBIL score | Above 750 | Above 750 |
Bajaj Finserv Home Loan: Fees and Charges
| Processing Fees | Upto 6% of the loan amount |
| EMI bounce charges | Upto INR 3000 |
| Penal Interest | Upto 2% |
| Secure Fee ( one time) | Upto INR 4,999 |
| Loan statement charges | NIL |
| Principal and Interest statement charges | NIL |
| Prepayment or foreclosure charges | NIL |
Documents required for Bajaj Finserv Home Loan
| KYC Documents |
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| Income Proof |
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| Other Documents | Property documents |
Bajaj Finserv: Types of Home Loans
Bajaj Finserv provides a wide range of home loans tailored according to the needs of their customers.
Home Loan Balance Transfer
Bajaj Finserv offers a balance transfer on home loans. It provides a facility to transfer an existing home loan to the NBFC hassle-free. With Bajaj Finserv balance transfer, you can avail of low-interest rates, long term loans and top up on the existing loan.
Top-up Loan
Bajaj Finserv provides a top-up in addition to the home loan. A top-up is a financial help offered by the banks and NBFCs that allows you to borrow an additional amount on the existing loan.
Joint Home Loans
You can share your finances by opting for a joint home loan with your spouse, parents or siblings. You can share the repayment responsibilities with your co-applicant.
Women’s Home Loans
Bajaj Finserv provides home loans specially customized for women at competitive rates. This loan type supports women to become independent house owners.
Home Construction Loan
A home construction loan offers funds specifically for home construction. Bajaj Finserv also provides a top-up to cover home decor expenses after the construction of the house.
Plot for Purchase
Bajaj Finserv provides finances for purchasing a plot for the construction of your house.
Home Loan for Professionals
Bajaj Finserv provides ample finances at attractive interest rates for professionals like home loans for private employees, government employees, advocates and bank employees.
Bajaj Finserv: Home Loan EMI Calculator
EMI means estimated monthly instalments. It refers to the amount payable every month towards the repayment of your home loan. A home loan EMI calculator is a tool provided by Bajaj Finserv on their website that helps you to compute the estimated monthly payments. Enter the desired loan amount, tenure and interest rate in the allocated boxes and get the estimated figures in seconds.
FAQs
Yes, Bajaj Finserv considers the CIBIL score of home loan applicants to determine the best possible home loan interest rate for the latter. The applicant should maintain a minimum score of 750 to avail best offers.
Based on your CIBIL score, repayment history, financial stability and other considerations. You can get a home loan for a maximum of INR 5 crores at Bajaj Finserv.
Bajaj Finserv offers home loans at both fixed and floating interest rates.