|Bajaj Housing Finance Home Loan Highlights 2022|
|Interest Rate||7.70% p.a. onwards|
|Loan Amount||Up to Rs. 5 crore|
|Loan Tenure||Up to 30 years|
|Processing Charges||0.3% onwards|
Note: Rates as of 16th August 2022
Bajaj Housing Finance Home Loan Interest Rates
For Salaried and Self-employed Professionals
|Loan Type||Interest Rate (p.a.)|
|Home Loan||7.70% to 14.00%|
|Home Loan Balance Transfer||7.75% to 14.00%|
|Top-up||8.65% to 15.00%|
For Self-employed Non-Professionals
|Loan Type||Interest Rate (p.a.)|
|Home Loan||7.95% to 14.00%|
|Home Loan Balance Transfer||8.35% to 14.00%|
|Top-up||8.85% to 15.00%|
Compare Bajaj Housing Home Loan Interest Rates with Other Lenders
|Interest Rates (% p.a.)|
|Name of Lender||Up to Rs 30 Lakh||Above Rs 30 Lakh & up to Rs 75 Lakh||Above Rs 75 Lakh|
|Bajaj Housing Finance||7.70 onwards||7.70 onwards||7.70 onwards|
|State Bank of India||7.55-8.55||7.55-8.45||7.55-8.45|
|Kotak Mahindra Bank||7.99 onwards||7.99 onwards||7.99 onwards|
|PNB Housing Finance||7.50-16.75||7.50-16.75||7.60-10.70|
|Punjab National Bank||7.95-9.35||7.90- 9.05||7.90-9.00|
|Bank of Baroda||7.95-9.45||7.95-9.45||7.95-9.70|
|Union Bank of India||7.90 – 9.65||7.90 – 9.85||7.90 – 9.85|
|IDFC First Bank||7.95 onwards||7.95 onwards||7.95 onwards|
|L&T Housing Finance||7.70-8.70||7.70-8.70||7.70-8.70|
|Godrej Housing Finance||7.54-10.99||7.54-10.99||7.54-10.99|
|Tata Capital||7.75 onwards||7.75 onwards||7.75 onwards|
|LIC Housing Finance||7.50-8.60||7.50-8.80||7.50-9.00|
|Federal Bank||9.05-9.10||9.10-9.15||9.15- 9.20|
Compare Home Loan Schemes Offered by Top Lenders Compare Now
Bajaj Housing Finance Home Loan Processing Fees & Other Charges
|Processing fees||0.3% onwards|
|Prepayment charges||No prepayment charges for floating rate loans taken by individuals|
|Foreclosure charges||No foreclosure charges for floating rate loans availed by individuals|
|Loan statement charges||NIL|
|Interest and principal statement charges||NIL|
|EMI bounce charges||Rs. 3,000|
|Penal interest||Up to 2% penal interest|
|Secure fee||Up to Rs. 4,999 (one time)|
Types of Bajaj Housing Finance Home Loan
Home Construction Loan
Online, tailor-made home loan with quick disbursal for construction of house on a vacant plot
Loan for Land Purchase
For plot purchase for construction purposes
Loan for Advocates & Private/Government/Bank employees
Home loan for various professionals including lawyers, employees of private sector, government sector, bank employees, etc.
Joint Home Loan
For making home loans more affordable by applying with a co-borrower including parent, sibling, spouse.
Women’s Home Loan
For women, so that they can be independent home owners and build assets easily
Pre-approved Home Loan
Home loan to select customers with faster loan disbursal
Home Loan Balance Transfer
For transfer of existing home loan from other banks/HFCs to Bajaj Housing Finance at lower interest rates
Additional loan amount on existing home loan to meet the personal expenses for wedding, medical treatment, education, etc
Bajaj Housing Finance Home Loan Eligibility Criteria
- Should be a resident of India
- Should be between 23 and 62 years of age
- Should have a work experience of 3 years or more
- The eligible net salary and property value are given in the table below:
|Cities||Min. Net Salary/Month||Min. Property Value|
|Delhi, Faridabad, Ghaziabad, Gurugram, Mumbai, Navi Mumbai, Noida, Thane||Rs. 30,000||Rs. 15 Lakh|
|Ahmedabad, Aurangabad, Bangalore, Baroda, Bhopal, Bhubaneshwar, Chennai, Calicut, Chandigarh, Cochin, Coimbatore, Goa, Hyderabad, Indore, Jaipur, Jamnagar, Jodhpur, Kolhapur, Kolkata, Lucknow, Madurai, Mysore, Nagpur, Nasik, Pune, Rajkot Surat, Tiruchirappalli, Trivandrum, Vapi, Vijayawada, Vizag||Rs. 25,000||Rs. 15 Lakh|
For Self Employed
- Should be an Indian resident
- Should be between 25-70 years of age
- Should have at least 5 years of continuity in the current business
For Home Loan Balance Transfer Facility
- Property of the applicant must be ready to occupy or already occupied
- The applicant must have paid more than 12 EMIs
- The applicant should not have any outstanding dues on his/her existing home loan
Check your Eligibility for Bajaj Housing Finance Home Loan Click Here
Documents Required for Bajaj Housing Finance Home Loan
The list of home loan documents required to apply for Bajaj Finance Home Loan is:
- Proof of Address (Aadhaar, Voter ID, Passport, Driving License, etc.)
- Proof of Identity (Aadhaar, PAN, Passport, Driving License, Voter ID, etc.)
- Form 16 or latest salary slips
- Bank account statements of the previous 6 months
- Document for proof of Business, of min. 5 years (for Businessmen/ self-employed individuals)
Bajaj Housing Finance Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
1. What is the turnaround time for the disbursal of Bajaj Housing Finance Home Loans?
Ans. The home loans at Bajaj Housing Finance are disbursed within 48 hours of the completion of home loan approval process.
2. Is it mandatory to have a co-applicant while applying for home loan at Bajaj Housing Finance? If yes, who can be the co-applicant?
Ans. It is not mandatory to have a co-applicant while applying for home loan at Bajaj Housing Finance. The co-owners of the property can be the co-applicant. If there is no co-owner of the property, any immediate family member can be the co-applicant.
3. Can I choose between fixed and floating rates of interest?
Ans. Bajaj Housing Finance offers home loans at floating rates only.
4. Can I foreclose my home loan availed from Bajaj Housing Finance?
Ans. Yes, you can foreclose your home loan without paying any prepayment charges.
5. Why is it beneficial to calculate your home loan EMI beforehand?
Ans. Calculating the home loan EMI would help the home loan applicants to know their home loan EMI commitment and thereby, plan their finances accordingly. Morevoer, banks and HFCs usually prefer to lend to home loan applicants having their total EMIs including the EMI of the proposed home loan to be within 50-60% of their monthly income. Thus, using home loan EMI calculator would allow an applicant to opt for a home loan tenure that contains his total EMIs within the aforementioned limit and thereby, increase his chances of home loan approval.
6. What is the minimum credit score required to avail home loan from Bajaj Housing Finance?
Ans. The applicants with credit scores of 750 and above can avail home loans from Bajaj Housing Finance.