Bajaj Housing Finance cuts mortgage interest rate to 6.70% per annum
Bajaj Housing Finance Limited (BHFL), a wholly-owned subsidiary of Bajaj Finance Limited, revised the interest rate on its mortgage loans to 6.70% * pa from 6.75% pa for salaried and professional applicants. Applicants with good credit, income and employment profiles can apply today and save significantly by taking advantage of this new interest rate. Customers with an existing home loan can also benefit from the new rate by opting for a home loan balance transfer.
Eligible applicants can transfer their mortgage balance amount to Bajaj Housing Finance Limited and benefit from the reduced interest rate. The home loan balance transfer product comes with a top-up loan facility, where an applicant has the option of a large top-up loan of Rs1cr *, or even more, of basic eligibility.
The company offers a range of features and benefits with its products, many of which are tailored to customer needs.
Bajaj Housing Finance offers contactless loans, in which the whole process is virtually completed. Applicants only need to apply through its website, after which all coordination is done by phone or email. The only part of the trip where you need to meet the representative in person is the last one, where you need to sign the loan agreement and complete the other registration formalities.
Significant loan amount of Rs5cr *
Applicants with good credit history, income and work history can apply for a significant loan amount of Rs.5 Cr * or even more based on eligibility. In other words, the amount of funding is never a problem.
First external loans linked to the sector’s benchmark
With Bajaj Housing Finance Limited, applicants have the opportunity to qualify for home loans whose interest rate is tied to external benchmarks, such as the repo rate. Here they have a chance to benefit from regulatory tariff cuts.
Disbursement in 48 hours *
HFC offers fast, hassle-free processing from start to finish. Not only do applicants benefit from minimal documentation, but they are also assured of unparalleled turnaround times. Once the loan application is approved and verified, the amount is disbursed within 48 hours *.
30-year repayment term
The company offers flexible repayment schedules to ensure that customers can repay comfortably in the years to come, without draining their finances too much. Applicants can opt for a term of up to 30 years when applying for a home loan from Bajaj Housing Finance Limited.
Interest subsidy under the PMAY
The lender is a Prime Lending Institute registered with the Central Nodal Agency. Thus, eligible applicants can benefit from an interest subsidy on their home loans under the Pradhan Mantri Awas Yojana when they apply to Bajaj Housing Finance Limited. Although the validity of the MIG I and II categories has not been extended, applicants can still benefit from the scheme through the LIG and EWS categories.
No partial prepayment and seizure fees
In accordance with RBI guidelines, individuals with variable interest rate home loans can choose to repay either part or all of their loan before the end of their term at no additional cost.
Over 5,000 projects approved
The lender has over 5,000 approved projects. Applicants who buy properties under these get even faster processing, with a better chance of getting the best possible loan terms.
Online account management
Bajaj Housing Finance Limited clients also benefit from an online client portal, where they can complete a number of tasks from the comfort of their own homes. You can quickly download statements, as well as complete transactions, without having to go to a branch.