|Bajaj Housing Finance Home Loan Highlights|
|Interest Rate||8.50% 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 26th May 2023
Table of Contents
Bajaj Housing Finance Home Loan Interest Rates
Special Rates for Home Loan and Balance Transfer (valid till 31st May 2023)
|CIBIL Score||Interest Rate (p.a.)|
|750 and above||8.50%|
For Salaried and Professionals
|Loan Type||Interest Rates (p.a.)|
|Home Loan Balance Transfer||8.70%-15.00%|
For Self-employed Professionals
|Loan Type||Interest Rates (p.a.)|
|Home Loan Balance Transfer||9.50%-15.00%|
Compare Bajaj Housing Finance Home Loan Interest Rates with Other Lenders
|Name of Lender||Up to Rs. 30 Lakh||Above Rs. 30 Lakh to Rs. 75 Lakh||Above Rs. 75 Lakh|
|SBI||8.50% - 10.15%||8.50% - 10.05%||8.50% - 10.05%|
|HDFC||8.50% - 10.35%||8.50% - 10.60%||8.50% - 10.70%|
|LIC Housing Finance||8.60% – 10.35%||8.60% – 10.55%||8.60% – 10.75%|
|Kotak Mahindra Bank||8.85% onwards||8.85% onwards||8.85% onwards|
|PNB Housing Finance||8.75% - 14.50%||8.75% - 13.00%||8.75%-11.35%|
|Punjab National Bank||8.65%-9.60%||8.60%-9.50%||8.60%-9.50%|
|Bank of Baroda||8.60% - 10.65%||8.60% - 10.65%||8.60% - 10.90%
|Union Bank of India||8.50% – 10.75%||8.50% – 10.95%||8.50% – 10.95%|
|IDFC First Bank||8.85% onwards||8.85% onwards||8.85% onwards|
|L&T Housing Finance||8.60% onwards||8.60% onwards||8.60% onwards|
|Bajaj Housing Finance||8.50% onwards||8.50% onwards||8.50% onwards|
|Tata Capital||9.15% onwards||9.15% onwards||9.15% onwards|
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)|
Also know home loan processing fees charged by other home loan lenders
Types of Bajaj Housing Finance Home Loan
Bajaj Housing Finance Home Construction Loan
Home construction loan is a regular home loan scheme with quick disbursal for construction of house on a vacant plot
Bajaj Housing Finance Loan for Land Purchase
Plot Loans are offered for plot purchase for construction purposes
Bajaj Housing Finance Loan for Advocates & Private/Government/Bank employees
Home loan for various professionals including lawyers, employees of private sector, government sector, bank employees, etc.
Bajaj Housing Finance Joint Home Loan
For making home loans more affordable by applying with a co-borrower including parent, sibling, spouse.
Bajaj Housing Finance Women’s Home Loan
Home loan for Women are special home loans offered to females, so that they can be independent home owners and build assets easily
Bajaj Housing Finance Pre-approved Home Loan
Home loan to select customers with faster loan disbursal
Bajaj Housing Finance Home Loan Balance Transfer
Home loan balance transfer is offered to existing home loan borrowers of other banks/HFCs for transferring their existing home loans to Bajaj Housing at lower interest rates
Bajaj Housing Finance Top-up Loan
Home loan top-up is the additional loan amount on existing home loan to meet the personal expenses like 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
Bajaj Housing Finance may also consider the credit score of its applicants, just like other lenders do while evaluating the home loan eligibility of their applicants.
Check your Eligibility for Bajaj Housing Finance Home Loan Click Here
Documents Required for Bajaj Housing Finance Home Loan
- 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)
Also know the documents required by home loan lenders
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.