Benchmark Rate (BR) |
Prevailing BR |
Loan type |
Type of Rate |
BR + Spread |
Effective Rate of Interest (per annum) |
Repo Rate (RR) |
4.00% |
Home Loan |
Floating |
RR+ 3.50 % to RR+ 8.00% |
7.50% to 10.00% |
Salaried Floating Reference Rate (SAL-FRR) |
12.90% |
Home Loan |
Floating |
FRR-5.40% to FRR -0.90% |
7.50% to 10.00% |
Self Employed Floating Reference Rate (SE-FRR) |
13.30% |
Home Loan |
Floating |
FRR-4.80% to FRR +0.20% |
7.50% to 10.00% |
Benchmark rate is the rate of interest which is a standard to calculate the other the rate of interest. Repo rate is the rate at which the Reserve Bank of India provides funds to financial institutions in case there is a shortage.
The floating rate (FRR), as the name suggests, changes as per the change in the reference rate of interest. The additional value that is appended with FRR is the spread rate which is basically the percentage difference of how much a bank charges a borrower and how much the depositor pays to the bank.
All the interest rates mentioned are subject to change as per the policies of Bajaj Housing Finance Limited.
At Finserv MARKETS, you can foreclose your Bajaj Housing Finance Home Loan. Foreclosure is the closure of the loan before the actual term ends. Take a look at charges associated with it.
Borrower Type/Interest Type |
Time Period (Months) |
Foreclosure Charges |
Individual: Floating rate* |
Greater than 1 Month |
Nil |
Non-individual: Floating rate |
Greater than 1 Month |
4% plus GST |
All borrowers: Fixed rate* |
Greater than 1 Month |
4% plus GST |
For Term Loan, charges are calculated on the outstanding principal. *
Borrower Type/Interest Type |
Time Period (Months) |
Foreclosure Charges |
Individual: Floating rate* |
Greater than 1 Month |
Nil |
Non-individual: Floating rate |
Greater than 1 Month |
2% plus GST |
All borrowers: Fixed rate* |
Greater than 1 Month |
2% plus GST |
The current Bajaj Housing Finance home loan interest rate ranges between 7.5%-10%.
You can avail a Bajaj Housing Finance home loan of up to Rs. 2.5 Crore on Finserv MARKETS.
The benchmark rate applicable for mortgage loan is Repo rate(RR).