Bajaj Finserv Home Loan
Are you tired of waiting for home loan approvals? Not anymore! Bajaj Finserv home loan promises quick approval processes for its home loan applications with minimal paperwork. Its interest rate starts at 8.50% p.a. with a processing fee of up to 7% of the loan amount. Top-up loans of Rs. 1 crore or higher can be availed with Bajaj Finserv for a maximum repayment tenure of 25 years.
Bajaj Finserv Home Loan EMI Calculator
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Bajaj Finserv Home Loan Highlights
Get the lowest interest rates with Bajaj Finserv Home Loan
| Loan Amount | Up to Rs. 15 crore |
|---|---|
| Rate of Interest | 8.50% p.a. onwards |
| RPLR | |
| Processing Fee |
Up to 7% of the loan amount |
| Maximum Tenure for Repayment | 25 years |
| Penal Rate of Interest | |
| Rate Packages | Fixed/ Floater |
| Charges for Prepayment/Foreclosure |
Bajaj Finserv Home Loan Interest Rates in 2024
Customers seeking a home loan facility from Bajaj Finserv can avail of the loan at a rate of interest starting at 8.50% per annum.
The table below shares the Bajaj Finserv home loan interest rate for different loan applicants:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Salaried | 8.50% - 15% p.a. |
| Self-employed | 9.10% - 15% p.a. |
Interest rates were last updated on 1st December 2024
Bajaj Finserv Home Loan Eligibility Criteria
Customers who apply for a home loan with Bajaj Finserv must meet the NBFC’s eligibility requirements. Given below are the commonly-acceptable Bajaj Finserv home loan eligibility criteria for applicants:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 23 - 70 years | 23 - 70 years |
| Nationality | Indian citizen and resident | Indian citizen and resident |
| Minimum Income Earned |
Bajaj Finserv Home Loan Processing Fee and Charges
To help cover the costs involved in processing a home loan application, Bajaj Finserv enables a processing fee of up to 7% of the loan amount for all home loan applicants. Some other charges are also enabled by the NBFC as part of the process. These include:
| Processing Fee | 7% of the loan amount |
|---|---|
| Penal interest | Up to 24% p.a. + applicable interest rate on the amount overdue |
| Principal statement and interest charges | Nil |
| Foreclosure charges | Nil |
| Bounce charges | Rs. 500 onwards (for loan amount up to Rs. 15 lakh; varies with increase in loan amount) |
| Secure fee | Up to Rs. 10,000 + GST |
| Part-prepayment charges | Nil |
| Hard copy loan statement charges | Up to Rs. 500 per request + GST |
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Bajaj Finserv Home Finance Schemes and Top Plans
Bajaj Finserv offers the following 4 types of home loan plans to its applicants:
Fresh Home Loan
- Attractive rate of interest
- Simple application process
- Flexibility in repayment
Home Loan Top-Up
- Faster loan processing
- Top-up feature to cover contingencies
Home Loan Balance Transfer
- Simple process to enable the transfer of balance loan amount from another bank
- Relatively lower interest rates
Pre-approved Home Loan
- Faster loan approval within 48 hours
- Exclusive pre-approved offers for existing bank customers
- Simplified and hassle-free loan application process
Note: All of the above home loan plans are made available to applicants solely at the discretion of Bajaj Finserv Home Loan, taking into consideration the earning and repayment capacity of the applicant.
Get Home Loan Starting at 8.5%*
Documents Required for Bajaj Finserv Home Loan
Given below is the complete list of Bajaj Finserv home loan documents required as part of the home loan application process:
Documents Required for Salaried Applicants
- Bank statement for last 6 months
- Salary slip for last 3 months
- Form 16/IT returns for last 2 years
- Proof of ID
- Recent passport-sized photographs
- Property-related documents
- Proof of address
Documents Required for Self-Employed Applicants
- Company’s incorporation details
- Profit & loss account
- Registration of VAT & Service Tax
- Proof of business address
- CA-certified balance sheets
- CA-audited financial statements
- Proof of Business Establishment
- Bank account statement for the last 6 months
Common Documents Required from Both Salaried and Self-Employed Applicants
| Type of Document | Documents Required |
|---|---|
| Identity & Address Proof |
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| Documents Related to Property |
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Find Bajaj Finserv Home Loan Offices Near You
Bajaj Finserv Home Loan operates all over India, meaning that you will find no difficulty in locating an office of the NBFC near you. Alternatively, you can seek assistance from the BASIC Home Loan team in applying for a home loan with Bajaj Finserv.
Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.
FAQs
Yes, the NBFC allows foreclosure on the home loan any time after the payment of the first EMI.
Bajaj Finserv accepts home loan applicants with a CIBIL score of 725 or higher.
Bajaj Finserv allows faster home loan processing within just 48 hours of the application.
Applicants can make convenient online EMI payments via debit/credit card, the official Bajaj Finserv app, bank transfer or NEFT, mobile wallets, and the BBPS platform.
Yes, the NBFC does offer fixed rates of interest that tend to remain the same throughout the term of the loan.
Bajaj Finserv offers floater and fixed interest rate packages on home loans to eligible customers.