Apply for Bajaj Finserv Home Loans up to Rs 15 crore* at 8.50% p.a. onwards for home purchase, construction or renovation needs. You can avail customised housing finance for up to 90% of property value for extended tenure of 30 years. By applying online you get instant in principal approval. Other benefits are lowest EMI of Rs 769, flexible repayment and attractive Bajaj Finserv home loan interest rates & processing fee.
On Bajaj Finserv Official Website
Updated: 31-05-2024 02:12:54 PM
Here are the highlights of Bajaj Finserv Home Loan:
| Loan amount | Rs.15 Crores |
| Rate of interest | 8.50% – 15.00% p.a |
| Tenure | Up to 30 years |
| Lowest EMI possible | Rs. 769 Per Lakh |
| Processing fee | Up to 0.50 % of the loan amount + GST and other applicable statutory levies |
Following are the features of Bajaj Finserv Home Loan:
Best Home Loan Interest Rates Starting @8.50%, Check EMI & Apply Now
Bajaj Finserv offers home loan at attractive interest rates, starting from as low as 8.50% – 15.00% p.a. The attractive rate of interest makes your EMIs affordable and allows you to repay your loan conveniently.
Following are the current Bajaj Finserv Home Loan Interest Rates:
| Type of Loan | Home Loan |
| Type of Interest Rate | Floating |
| Interest Rate for Salaried Applicants | 8.50% – 15.00% p.a. |
| Interest Rate for Self-employed Applicants | 9.10% to 15% p.a. |
| Doctors | 8.60% to 14% p.a. |
| Lender | Maximum Loan Amount | Maximum Tenure | Interest Rate | Processing Fee |
|---|---|---|---|---|
| Bajaj Finserv Home Loan | Up to 85% of property | 30 years | 8.50% – 15.00% | Up to 0.50% – 7% of the loan amount + GST and other applicable statutory levies |
| HDFC Home Loan | Up to 90% of property cost | 30 years | 8.75% – 9.65% | Up to 0.50% or Rs. 4,500 (whichever is higher) + applicable taxes |
| SBI Home Loan | Up to 90% of property cost | 30 years | 8.50% – 10.05% | Up to 0.35% + applicable GST |
| ICICI Bank Home Loan | Up to 90% of property | 30 years | 8.75% | 0.50% – 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST |
| Processing Charges |
|
| Loan Statement Charges | NIL |
| Principal and Interest Statement Charges | NIL |
| EMI Bounce Charges | Up to Rs. 3000 |
| Foreclosure Charges | Bajaj Finance calculates charges in the following manner |
| On Term Loans | On Outstanding Principal |
| Flexi Term Loan | On Current Drop Line Limit |
| Flexi-Interest-Only Loans | On Sanctioned Limit |
| Penal Interest | 2% per month+ Taxes |
| Secure Fee | One-time fee up to Rs. 4,999 |
Below are the points for Bajaj Finserv Home Loan Eligibility:
Bajaj Finserv is one of the member lending institutions authorised by the Government to offer Home Loans under the Pradhan Mantri Awas Yojana (PMAY). This program provides the benefit of interest subsidy to the different categories of borrowers. This subsidy is credited upfront to the loan account. This interest subsidy is available on the PMAY – Urban Home Loan Scheme only. As a result, the borrower has a lower interest burden and EMI.
| Category of Borrower | Income Criteria | Loan amount range eligible for the subsidy | Maximum interest subsidy |
|---|---|---|---|
| Economically Weaker Section – EWS | Annual Income up to 3 Lakhs | 6 Lakhs | 6.5% subsidy with a maximum of 2.67 Lakhs |
| Lower Income Group – LIG | More than 3 Lakhs and up to 6 Lakhs | 6 Lakhs | 6.5% subsidy with a maximum of 2.67 Lakhs |
| Middle Income Group – MIG-I | More than 6 Lakhs and up to 12 Lakhs | 9 Lakhs | 4% subsidy with a maximum of 2.35 Lakhs |
| Middle Income Group – MIG-II | More than 12 Lakhs and up to 18 Lakhs | 12 Lakhs | 3% subsidy with a maximum of 2.30 Lakhs |
Download the Bajaj Finance mobile app by sending SMS ‘APP’ to 9227564444
Email Bajaj Finance at [email protected]
For grievance redressal, email at [email protected]
Give a call between 9.30 am to 5.30 pm from Monday to Friday on 020-71177266
For escalating requests, email to [email protected]
For all queries, call 020-39575152
Corporate Office
4th Floor, Bajaj Finserv Corporate Office
Off Pune-Ahmednagar Road, Viman Nagar, Pune 411014
Ph No 020-30405060
Fax 020-30405020
Apply for instant home loan online at Interest Rate starting from as low as 8.50% p.a. Pay EMI of just Rs. 769 per Lakh. Loan can be repaid in flexible tenure of up to 30 years.
Salaried employees get the benefit of the 3 EMI holiday offer when they avail of the Bajaj Finserv Home Loan Balance Transfer and Top-Up Facility. They get a 3-month holiday after which they can commence the repayment. This three-month holiday eases off loan repayment pressure from the customer to a great extent.
Yes, Bajaj Finserv provides provisional interest certificate for IT purposes. They provide a breakup of the principal and interest repayment for the complete financial year. Borrowers can use this certificate to claim benefits under the Income Tax Act.
Yes, you get income tax concessions under Sec 24 and Sec 80C of the Income Tax Act 1961 for your home loan interest and principal repayments respectively. You get a benefit of up to Rs 200,000 on repayment of interest on home loans under Sec 24. Similarly, you get a concession of up to Rs 150,000 under Sec 80C for repayment of the principal amount. First-time home buyers get additional rebates in income tax.
Your home loan EMI comprises two components, principal and interest. Three factors go into the determination of your EMI: loan amount, rate of interest, and loan tenure.
Theoretically, your EMI should change with the change in the ROI. However, Bajaj Finserv prefers to keep the EMI constant and increase/ decrease the loan tenure. If any increase in the tenure is not possible due to various reasons, they increase the EMI.
There are two options for paying the EMI. The ECS is a preferred option, however you can also pay by post-dated cheques.
