Bajaj Housing Finance Limited Cuts Home Loan Interest Rate to 6.7 Percent, Launches Revamped Online Home Loan Journey

Bajaj Housing Finance Limited, a 100% subsidiary of Bajaj Finance Limited, recently slashed its interest rate by 5 basis points, from 6.75%* p.a. to 6.70%* p.a., for salaried and professional applicants. Prospective homeowners with a good employment, income, financial, and credit profile, stand to be offered this rate, with which their home loan EMI can be as low as Rs.645/Lakh*.

The HFC has revamped its existing form, Online Home Loan, to a truly digital experience that promises an unmatched application journey. One can complete the all-new Online Home Loan application in just 10 minutes. At the end of the journey, applicants need to pay a nominal fee of Rs. 1,999 + GST to receive a digital sanction letter valid for 180 days.

The digital sanction letter contains all the key terms of your offer, including the loan amount, the tentative interest rate, and the loan tenor. The offer is based on the information provided in the application form and, thus, subject to verification of the same. The letter is an official document that can help prospective homeowners prove their home loan eligibility and, ultimately, negotiate better with property sellers, be it developers or individuals.

The application form is straightforward and requires minimal information to provide an offer. Applicants looking for a fresh home loan only need to input information in 8 fields to be able to check their offer. Those with an existing home loan looking to reduce their interest rate to 6.70%* p.a. can also apply online through the Online Home Loan form. They also have the option to avail of a top-up loan over and above the current loan amount for any other financial needs.

Online Home Loans come with the same range of features as the lender’s existing home loans and more.

• Online application form, with a digital sanction letter in 10 min

• Contact-free processing, where one can submit their documents via mail and coordinate virtually till the last step of the journey, i.e., signing the loan agreement and completing registration formalities

• Home loan interest rate starting at 6.70%* p.a. for salaried and professional applicants, with EMIs as low as Rs.645/Lakh*

• Sizeable loan amount of Rs. 5 Cr*, or even higher, basis eligibility

• Balance transfer facility, with the option to avail of a top-up loan of Rs. 1 Cr*, or even higher, basis eligibility

• Interest subsidy under the EWS and LIG categories of the PMAY scheme

• Zero part-prepayment and foreclosure charges for individuals with floating interest rate home loans

• Repayment tenor of up to 30 years

• Online account management, where customers can make payments and access statements through the lender’s customer portal

• Quick and hassle-free processing, with minimal documentation and disbursal in 48 hours from verification and approval

• Customised repayment options

• Industry-first external benchmark linked loans (repo rate)

• 5,000+ approved projects

What’s more, salaried and professional applicants who avail of a home loan through the lender’s website, including the Online Home Loan application form, are eligible for the ongoing festive offer. In cases where the home loan is disbursed till 30 October 2021, the applicant pays only a flat processing fee of Rs. 1,999 + GST.

About Bajaj Housing Finance

Bajaj Housing Finance Limited is a 100% subsidiary of Bajaj Finance Limited - one of the most diversified NBFCs in the country with 19 product lines across consumer, commercial, and SME finance catering to more than 21 million customers across the country. Headquartered in Pune, Bajaj Housing Finance Limited offers finance to individuals as well as corporate entities for the purchase and renovation of homes, or commercial spaces. It also provides loans against property for business or personal needs as well as offers working capital for business expansion purposes. It also offers finance to builders and developers engaged in the construction of homes. Bajaj Housing Finance Limited prides itself on holding the highest CRISIL AAA (Stable) rating.

For more information, please visit www.bajajhousingfinance.in.

*Terms and conditions apply