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Bajaj Home Finance Home Loan

Bajaj Home Finance Housing Loan 2021

Last Updated 27th Oct 2021

Bajaj Home Finance is a large HFC with the lowest home loan percent rate in India. Currently, the bank offers home loans beginning from 6.80% Check Best Offers with quick approval and an online process. Home Loan in Bajaj Home Finance is quite popular with its special features and attractive rates under various Bajaj Home Finance home loan schemes for different income and occupation groups. Some of the key features of Bajaj Home Finance housing loan are:

  • Bajaj Home Finance also offers pre-approved housing loans at low rates for existing bank customers with a strong credit history.
  • The housing finance company has an online application process where you can submit the KYC, income, and property documents digitally.
  • You can easily check your Bajaj Home Finance home loan application status on a real-time basis on the bank’s website or by visiting their customer care centre.
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Bajaj Finance Home Loan Details

With Bajaj Home Finance, get customised home loan products per your needs for a maximum tenure of upto 20 years. The home loan rates for Bajaj Housing Finance start at 6.80%, and you can get the lowest rates if you fulfill all the parameters for home loan eligibility. Along with the home loan rates, the housing finance company also charges a processing fee of Upto 0.35% of loan amount.

Also, Bajaj Home Finance offers customised home loan schemes for different segments of customers, as listed below:

Features and Benefits of Home Loan from Bajaj Housing Finance

Bajaj Finance housing loans are designed to meet the housing needs of different segments of customers. Below-mentioned is attractive features & benefits of availing Bajaj Finance home loans:

  • Balance Transfer: You can transfer the outstanding balance on your existing home loan to Bajaj Home Finance and enjoy a lower interest rate and better borrowing terms.
  • Top-up Facility: With a balance transfer facility, you can also get a sizable top-up amount for any other financial needs you may have.
  • PMAY Interest Subsidy: Get subsidised interest subsidy on Bajaj Home Finance Home Loan under the Pradhan Mantri Awas Yojana scheme.
  • Nil Prepayment Charges: The home loan is affordable, as the bank charges no prepayment charges.
  • Flexible Repayment Tenor: Bajaj Housing Finance ensures a comfortable repayment by offering you the choice of an extended repayment tenure of up to 30 years.
  • Online Account Management: You can access Bajaj home loan details through their online portal, with an added benefit to downloading your interest certificate anytime and anywhere.
  • Online Home Loan Calculators: Bajaj Housing Finance has simple and reliable calculators that help you know more about eligibility, your EMI, and the maximum top-up amount you can avail of.

Types of Bajaj Finance Home Loans

Balance Transfer Loans

  • The existing home loan borrowers can transfer the balance on their home loan with Bajaj Finance Home Loan Balance Transfer. The facility comes with features like lower home loan rates, sizeable top-up amount and other attractive features like online account management, doorstep services etc.

Home Renovation Loans

  • With Bajaj finance home renovation loan, avail of a housing loan to meet renovation expenses or the cost of constructing the extension for existing house property. The home loan comes with attractive home loan rates starting at % for a repayment tenure upto years.

Pre-approved Home Loans

  • Bajaj Housing Finance offers pre-approved home loans to existing customers with a simpler loan processing process and minimum documentation requirements. The financing company provides the pre-approved home loans only with minimum personal details, such as name and contact number.

Home Construction Loans

  • You can avail of these home loans to fund a residential property undergoing construction. Bajaj Housing Finance home construction loans for a repayment tenure upto years.

Bajaj Home Finance Home Loan Processing Fee

Bajaj Home Finance Home Loan Schemes Processing Fees
Balance Transfer Loans Upto 0.35%
Home Construction Loans Upto 0.35%
Home Renovation Loans Upto 0.35%
Pre-approved Home Loans Upto 0.35%

Documents Required to Get Loan from Bajaj Home Finance Limited

You can apply for a home loan in Bajaj Home Finance with the following set of documents. The list of documents required for a home loan is indicative, and you may need to provide additional documents to back their home loan eligibility.

  • Passport-size photographs
  • KYC documents as identity and residential proof
  • Proof of Income- Latest salary slips or Form 16 for salaried applicants and P&L statement and ITR documents for self-employed individuals
  • Proof of business existence with a vintage of not less than 5 years (for self-employed applicants only)
  • Account statements for the last six months
  • Property documents

Eligibility Criteria to Get Loan from Bajaj Housing Finance Limited

To get a home loan approval from Bajaj Home Finance, you must follow the parameters as mentioned below:

Bajaj Housing Loan Eligibility for Self-employed


Age Min 25 and Max 70 years for Self Employed
Work Experience 3 years
Residential Status Residing Citizen of India

Bajaj Finance Home Loan Eligibility for Salaried


Age Min 23 and Max 62 years for Salaried
Work Experience 3 years
Residential Status Residing Citizen of India

How to Get the Best Offer on Bajaj Finance Home Loan?

If you have an existing good relationship with Bajaj Home Finance, you can get instant offers for housing finance. However, here are some other parameters you must check to get the best offer on a Bajaj home loan:

  • Interest Rates: Bajaj Home Finance offers multiple home loan schemes for different segments of customers. The home loan rates for these schemes may vary based on your eligibility. For instance, if you have a low debt-income ratio and have repaid all your existing dues on time, you can get a home loan at the lowest rates.
  • Other Charges: You must also consider other charges like processing fees, legal/technical charges and prepayment charges and negotiate with your lender. You may get a reduction or waiver of these charges based on your eligibility and relationship with Bajaj Housing Finance.
  • Approval Process: If you fulfil Bajaj Home Finance eligibility criteria such as excellent repayment history, high-income sources, good CIBIL score, you can also get instant pre-approved offers from Bajaj Housing Finance.

Steps to Apply for Home Loan in Bajaj Housing Finance

  • You can request for Bajaj Finance home loan online by visiting the official website of Bajaj.
  • However, to get the best offers on your home loan, you can avail of the loan from an online marketplace like MyLoanCare.
  • All you have to do is apply online by filling the form at the top of this page, and our advisor will contact you to assist with the process.
  • Some of the benefits of applying for a Bajaj Housing Finance through MyLoanCare include customised assistance regarding the loan approval process, comparing home loan rates for top banks and NBFCs, and cashback offers on disbursement of home loans and much more.

FAQs

Can I apply for a Bajaj Home Finance home loan online?

Yes, you can apply for a Bajaj Home Finance home loan online by visiting the bank’s official online portal for home loans or at an online marketplace like MyLoanCare.

Is Bajaj Housing Finance good for a home loan?

Bajaj Home Finance is one of the best home loan lenders in the country. Currently, Bajaj Home Finance home loan interest rate 2021 starts at 6.50%.

How can I check my Bajaj Finance Housing Loan status?

You can track the status of the Bajaj finance home loan using various methods as mentioned below:

  • Visit the official website of Bajaj Finance and find a loan application tracker.
  • Contact Bajaj Finance by calling at 1800-103-3535 or sending an SMS 'SHOL' to 9773633633.
  • Visit an online marketplace like MyLoanCare.

What is the Bajaj Housing Finance Home Loan procedure?

There are two methods to complete the application for Bajaj Home Finance Home Loan Process online:

  • Apply online at Bajaj Home Finance official website.
  • Online Marketplace like MyLoanCare

However, availing a loan through an online marketplace improves your chances of getting the best loan rates, low processing fees and special offers in the form of cashbacks.

What is the maximum loan tenure I can opt under Bajaj Home Finance house loan?

Bajaj Home Finance offers you a longer tenure of 20 years to repay your loan with the benefit of paying less EMI per month.

Does Bajaj Home Finance check CIBIL for home loan?

Yes, to avail home loan from Bajaj Home Finance, you must fulfill Bajaj Home Finance Home Loan CIBIL requirement of a minimum CIBIL Score of 650 or above.

Can I transfer my house loan from another bank to Bajaj Home Finance?

Yes, you can avail balance transfer facility to transfer your existing home loan at lower rates to Bajaj Home Finance. In addition to that, you can also avail other benefits like top-up home loan facility, change in loan tenure or EMI etc.

Can I club the income of my spouse with mine and apply for a joint Home Loan in Bajaj Housing Finance ?

You can club the income of your spouse to increase your Home Loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

What is the benchmark applicable for a housing loan?

The benchmark applicable for Home Loan in Bajaj Home Finance is PLR. PLR is an external benchmark wherein commercial banks use the RBI’s repo rate to calculate the retail loan interest rate. In PLR, the reset period is 3 months which implies that banks would revise your interest rate of RLLR-linked loans every 3 months.

How can I reduce my Bajaj Housing Loan EMI?

You can reduce the EMI on Bajaj Housing Finance home loan by opting for a prepayment facility. As per the RBI circular, banks and NBFCs are not allowed to charge any prepayment penalty on floating rate home loans. If you prepay the loan, the outstanding principal amount will be reduced which will reduce the interest cost on housing loans.

What is the minimum salary required to get a home loan for Bajaj Housing Finance LImited?

The minimum income requirement to avail a home loan from Bajaj Housing Finance is ₹ 25,000. However, the minimum income criteria may vary for self employed business.

How long does it take from the time of application to the time of loan disbursement if you avail Bajaj Finance housing loan?

Bajaj Finance sanctions Bajaj house finance within 4-5 days of making an application if you are a salaried individual. For self-employed, it may take around 7-8 working days for disbursement of Bajaj housing loan.

How do I get a pre-approved Bajaj Finance home loan?

You can get a pre-approval on a Bajaj housing finance loan if you have a good existing relationship, high-income sources and a low debt-income ratio.


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Bajaj Home Finance Home Loan News - Nov 2021
  • 2021-10-27 : Bajaj Finance Posted a Net Profit of 53.5%
    Leading non-banking financial company has reported a net profit of 53.5% to Rs 1,481 crore in the second quarter ending September 30, 2021.
  • 2021-05-10 : Bajaj Home Finance cut its Top Up loan rates
    Bajaj Home Finance reduced its top-up loan rates to 8%. The revised rates will be effective from 10 May 2021.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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