Bajaj Housing Finance Extends Interest Rate Validity for Festive Home Loans

Bajaj Housing Finance Limited, a wholly owned subsidiary of Bajaj Finance Limited, announces an extension of its festive offer. The lender’s festive home loan interest rate, starting at 6.65% per annum, is now valid for eligible applicants who apply through the official website until February 28, 2022.

In an industry-first initiative, the HFC is also offering a provision that allows applicants to link their home loan interest rate to an external benchmark, such as the RBI Repo rate. Borrowers who take advantage of this feature benefit from possible rate cuts in the future, as well as full transparency in the rate-setting mechanism.

Offer Eligibility and Conditions

Open to Salaried Individuals or Professionals (Doctors and CAs)

Employees, doctors and CAs can apply for this festive offer. Salaried candidates must be employed in a public or private sector company, or in a multinational organization with at least 3 years of professional experience. Physicians with MBBS accreditation or higher must also have at least 3 years of professional experience with an approved healthcare provider or in their own practice to be eligible. CAs must have a valid practicing certificate and 3 years of post-qualification experience to take advantage of this offer.

Exclusively for those with a CIBIL score of 800 and above

The Bajaj Housing Finance festive offer is open to those with a strong credit profile and a CIBIL score of 800 or above. The lender also offers competitive interest rates on home loans to those with a CIBIL score between 750 and 799, which is only slightly above 6.65%.

Exclusive to online home loan applications

The offer only applies to home loan applications made through the official Bajaj Housing Finance website. Only applications completed before February 28, 2022 and loans disbursed until March 31, 2022 are eligible.

Applicable to both Fresh Home Loans and Balance Transfer

Those looking for a new home loan, as well as those looking to transfer their existing home loan to another lender, can take advantage of the offer.

Key Benefits

Applicants can avail a large loan sanction worth Rs. 5 crore or more, basic eligibility.

Interested applicants can opt for the lender’s home loan balance transfer facility and transfer their home loan balance at a more competitive interest rate. Additionally, an add-on loan worth Rs. 1 crore or more, basic eligibility, is available.

Applicants can enjoy a fast and hassle-free digital home loan application process through the lender’s online home loan platform and receive a digital sanction letter in hand within 10 minutes.

Floating interest rate borrowers have the option of linking their home loan to an external benchmark, such as the RBI repo rate.

Borrowers can choose from the lender’s flexible repayment plans and opt for a loan term of up to 30 years.

Individual borrowers with an adjustable interest home loan can make partial prepayments or foreclose on their loan at no additional cost.

Eligible candidates can benefit from the advantages of the PMAY and obtain interest subsidies of up to 6.50%.

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Posted: Thursday February 17th 2022, 6:56 PM IST

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