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    Bajaj Housing Finance Limited Reduces Home Loan Interest Rate to 6.70% p.a.

    Published on October 1, 2021

    Bajaj Housing Finance Limited (BHFL), a 100% subsidiary of Bajaj Finance Limited, has revised its home loan interest rate to 6.70% p.a. from 6.75% p.a. for salaried and professional applicants. Applicants with a good credit, income, and employment profile can apply today and save substantially by availing of this new interest rate. Customers with an existing home loan can also avail of the new rate by opting for a Home Loan Balance Transfer.

    Eligible applicants can transfer the balance amount on their home loan to Bajaj Housing Finance Limited and avail of the reduced interest rate. The Home Loan Balance Transfer product comes with a Top-up Loan facility, where an applicant has the option to avail of a sizeable top-up loan of Rs.1 Cr, or even higher, basis eligibility.

    The company offers a range of features and benefits with its products, many of which are tailored to customers’ requirements.

    Contact-Free Loans

    Bajaj Housing Finance offers contact-free loans, wherein the entire process is completed virtually. Applicants only need to apply through its website, post which all coordination is completed via phone or email. The only step of the journey where you need to meet the representative in person is the final one, where you need to sign the loan agreement and complete other registration formalities.

    Sizeable Loan Amount of Rs. 5 Cr

    Applicants with a good credit history and income and employment record can apply for a sizeable loan amount of Rs.5 Cr, or even higher, basis eligibility. In other words, the quantum of funding is never a problem.

    Industry First External Benchmark Linked Loans

    With Bajaj Housing Finance Limited, applicants have the option to avail of home loans where the interest rate is linked to external benchmarks, such as the repo rate. Here, they stand a chance to benefit from regulatory rate cuts.

    Disbursal in 48 Hours

    The HFC delivers quick and hassle-free processing from start to end. Not only do applicants benefit from minimal documentation, but they are also assured of unmatched turnaround times. Once the loan application is approved and verified, the amount is disbursed in 48 hours.

     Repayment Tenor of 30 Years

    The company offers flexible repayment tenors to ensure customers can comfortably repay in the years to come, without stretching their finances too thin. Applicants can opt for a tenor of up to 30 years when applying for a home loan with Bajaj Housing Finance Limited.

    Interest Subsidy Under PMAY

    The lender is a Prime Lending Institute registered with the Central Nodal Agency. Thus, eligible applicants can avail of an interest subsidy on their home loans under the Pradhan Mantri Awas Yojana when applying with Bajaj Housing Finance Limited. While the validity of the categories MIG I and II has not been extended, applicants can still benefit from the scheme through the LIG and EWS categories.

    Zero Part-prepayment and Foreclosure Charges

    In line with RBI guidelines, individuals with home loans at floating interest rates can choose to repay either a part of their loan, or the entire sum, before the end of their tenors without any additional charges.

    5,000+ Approved Projects

    The lender has over 5,000 approved projects. Applicants who buy properties under these benefit from yet quicker processing, with a better chance of availing the best possible borrowing terms.

    Online Account Management

    Bajaj Housing Finance Limited customers also benefit from an online customer portal, where they can perform a number of tasks from the comfort of their homes. One can quickly download statements, as well as complete transactions, without having to visit a branch.