Bajaj Housing Finance Limited (BHFL) provides home loans starting from 8.50% per annum for loan tenures of up to 40 years and loan amounts of up to Rs 5 crore. Depending on their credit profile, applicants may be eligible for higher loan amounts. BHFL also offers a balance transfer facility for existing home loan borrowers from other lenders. Existing Bajaj Home Loan borrowers can avail home loan top-up over and above their existing loan amount. BHFL provides an online home loan application facility for digital loan sanction within 10 minutes and aims to disburse home loans within 48 hours after verification. Additionally, BHFL offers pre-approved home loans with faster disbursal to select customers.
Bajaj Housing Finance Highlights |
|
|---|---|
| Interest Rate | 8.50% p.a. onwards |
| Processing Charges | 0.3% onwards |
| Loan Amount | Up to Rs 5 crore |
| Loan Tenure | Up to 40 years |
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
|---|---|---|---|---|
| SBI Bank | 8.40% - 10.15% p.a. | 8.40% - 10.05% p.a. | 8.40% - 10.05% p.a. | Apply Now |
| HDFC Bank Limited | 8.40% p.a. onwards | 8.40% p.a. onwards | 8.40% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.60% p.a. onwards | 8.60% p.a. onwards | 8.60% p.a. onwards | Apply Now |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.35% - 10.35% p.a. | 8.35% - 10.55% p.a. | 8.35% - 10.75% p.a. | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50% - 11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| Axis Bank | 8.70% - 13.30% p.a | 8.70% - 13.30% p.a | 8.70% - 9.10% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
Also read: Best Home Loan in India
Interest Rates for Salaried Applicants
| Loan Type | Interest Rate (p.a.) |
|---|---|
| Top-up | 9.80% - 18.00% |
| Home Loan | 8.50% - 15.00% |
| Home Loan Balance Transfer | 8.60% - 15.00% |
Interest Rates for Self-employed Applicants
| Loan Type | Interest Rate (p.a.) |
|---|---|
| Top-up | 10.00% - 18.00% |
| Home Loan | 9.10% - 15.00% |
| Home Loan Balance Transfer | 9.50% - 15.00% |
Bajaj Housing Finance Top-up Home Loan
Purpose: Existing home loan borrowers of Bajaj Housing Finance can utilize the Home Loan Top-up facility, which allows them to borrow additional funds over and above their existing home loans. These funds can be used to cover personal expenses such as weddings, medical treatments, education, and more.
Loan Amount: Bajaj Housing Home Loan borrowers have the option to avail Top-up Home Loans for amounts up to Rs 1 crore. However, borrowers may also be eligible for higher loan amounts based on their individual eligibility criteria.
Bajaj Housing Finance Online Home Loan
Purpose: Consumers have the option to avail an Online Home Loan from Bajaj Housing Finance for purchasing a home. The loan disbursal typically occurs within 48 hours after the submission of documents and approval of the loan application.
Loan Amount: The maximum loan amount available for availing a Bajaj Housing loan is Rs 5 crore. However, eligible applicants may also qualify for higher loan amounts from Bajaj Housing Finance.
Tenure: Up to 40 years
Bajaj Housing Finance Loan Balance Transfer
Existing home loan borrowers from other banks and Housing Finance Companies (HFCs) have the option to utilize the Bajaj Housing Finance Home Loan Balance Transfer facility. This service allows them to transfer their existing home loans to Bajaj Housing Finance at lower interest rates.
Bajaj Housing Loan for Doctors
Purpose: Doctors have the option to avail the Bajaj Housing Finance Home Loan for Doctors to finance their home purchases. Additionally, they can transfer their existing home loans from other banks and HFCs to Bajaj Housing Finance at lower interest rates.
Loan Amount: Applicants of Bajaj Housing Finance loans can borrow loan amounts of up to Rs 5 crore. However, the HFC may offer higher loan amounts to eligible applicants based on their specific eligibility criteria.
Tenure: Up to 40 years
Also Read : Best Home Loan EMI Calculator
| Particulars | Charges |
|---|---|
| Processing fees | 0.3% onwards |
| Penal interest | Up to 2% penal interest |
| Secure fee | Up to Rs. 4,999 (one time) |
| EMI bounce charges | Rs. 3,000 |
| Prepayment charges | No prepayment charges for floating rate loans taken by individuals |
| Interest and principal statement charges | NIL |
| Loan statement charges | NIL |
| Foreclosure charges | No foreclosure charges for floating rate loans availed by individuals |
Also read: Best Home Loan Fees and Charges
For Salaried:
- Minimum age: 23 years
- Maximum age: 62 years
- Minimum experience: 3 years
- The applicant should be a resident of India
- They should be employed in Private Companies, Public Sector Undertakings, or Multinational Corporations (MNCs).
- The applicant should be residing in one of the cities where Bajaj Housing Finance operates.
For Self-employed:
- Minimum age: 25 years
- Maximum age: 70 years
- Applicant should be an Indian resident
- Business vintage: Minimum 5 years in the current enterprise.
- The individuals applying for the Bajaj Housing Finance Home Loan should be residing in one of the cities where the Housing Finance Company (HFC) operates.
Also Read : Best Home Loan Eligibility
To apply for a Bajaj Housing Finance Home Loan, you'll typically need to provide the following documents:
KYC Documents:
- Proof of Identity (Aadhaar, PAN, Passport, Driving License, Voter ID, etc.)
- Address proof (utility bills, passbook, ration card, etc.)
Property related documents:
- Title deed
- Allotment letter
- Property tax receipt
For salaried applicants:
- Salary slips for the past 3 months
For self-employed professionals and non-professionals:
- Business proof
- Bank account statement for the last 6 months
- ITR (Income Tax Returns) and P&L (Profit & Loss) statement
For individuals with MBBS degree and above (self-employed professionals-doctors) and valid COP (Certificate of Practice) for self-employed professionals-CAs:
- Education certificates
- Valid COP
Also Read : Best Home Loan Documents Required
1. How do I apply for Bajaj Housing Finance Home Loan online?
You can visit the official website of Bajaj Housing Finance and fill out the housing loan application form provided by the lender. Alternatively, you can also click here to apply for a home loan offered by Bajaj Housing Finance.
2. How long does it take for Bajaj Housing Finance Home Loan to get sanctioned?
Bajaj Housing Finance claims to sanction the home loan within 48 hours of approving the loan application and completing document verification.
Also read: Best Home Loan Balance Transfer
3. Can I avail two home loans at the same time?
Eligible candidates can avail two home loans simultaneously. The lender assesses the applicant’s income, credit profile, and employment type when evaluating their loan application for another home loan.
4. What is the minimum credit score required to avail home loan from Bajaj Housing Finance?
Applicants with credit scores of 750 and above are eligible to avail home loans from Bajaj Housing Finance.
5. What is the turnaround time for the disbursal of Bajaj Home Loan?
Bajaj Home Loans are disbursed within 48 hours of completing the home loan approval process.