Bajaj Housing Finance home loan interest rate cut for upto Rs 5 crore, Rs 1 crore top-up! Check eligibility

By: |
October 01, 2021 1:58 PM

Bajaj Housing Finance Limited (BHFL) has revised its home loan interest rate to 6.70% p.a. from 6.75% p.a. for salaried and professional applicants.

Bajaj Housing Finance home loan interest rateBajaj Housing Finance home loan interest rate has been revised. Representative image

Bajaj Housing Finance Limited (BHFL) has revised its home loan interest rate to 6.70% p.a. from 6.75% p.a. for salaried and professional applicants. In a statement, BHFL said that applicants with good credit score, income, and employment profiles 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 BHFL 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 Crore, 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.

BHFL said it is offering 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. 

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Applicants with a good credit history and income and employment record can apply for a sizeable loan amount of Rs 5 Crore, or even higher, basis eligibility, BHFL said. 

Repo-rate linked loans

With BHFL, applicants will 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.

BHFL said that once the loan application is approved and verified, the amount is disbursed in 48 hours, subject to certain terms and conditions.

Repayment Tenor of 30 Years

BHFL is offering 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 BHFL.

Interest Subsidy Under PMAY

BHFL is a Prime Lending Institute registered with the Central Nodal Agency. 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.

BHFL 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.

 

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