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✓ Home Loan from ₹2 Lakhs To ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.25%

When it comes to home loans, the interest rates offered by Bajaj Housing Finance will leave you asking for more. With Bajaj Housing Finance, you can get a home loan at an interest rate starting at 8.30% per annum. Typically, your home loan interest rate depends on your applicant type, your credit score, and your overall repayment capacity. In addition to the interest rate, you must pay a processing fee to cover the administrative charges and property inspection. If you want to repay your Bajaj Housing Finance home loan before the end of the loan repayment tenure, you can do so for free.

Bajaj Housing Finance Home Loan Processing Fees and Other Charges

The other kinds of charges associated with a Bajaj Housing Finance Home Loan are as follows:

Processing Fee

Up to 6% of the loan amount

Foreclosure Charges

Nil

Penalty Interest Rate (charged on EMIs that are paid late)

Up to 2% per month

EMI Bounce Charges (if the EMIs are paid through cheques)

Up to ₹3,000

Secure Fee (one-time payment)

Up to ₹4,999

 

Illustration of Bajaj Housing Finance Home Loan Interest Rates

The example below will tell you what your minimum and maximum monthly EMI payment will be if your Bajaj Housing Finance home loan interest rates and repayment tenure is on either side of the spectrum. 

Let us assume that you borrow a home loan of ₹2 Lakhs from Bajaj Housing Finance at an interest rate of 12% p.a and your loan repayment tenure is 5 years. Your friend, on the other hand, has taken the same amount, but his interest rate is 6.65% p.a. and his loan repayment tenure is 30 years. Now, let us look at the charges applicable and the final amount that will be paid by the both of you by the end of your respective repayment tenures.

Processing Fee

Up to ₹12,000 (i.e. up to 6% of the loan amount)

Fee Payable (to Bajaj Markets)

Nil

Maximum and Minimum EMI

In your case, you will have to pay an EMI of ₹4,449 every month.

 

Your friend will have to pay ₹1,284, given that the interest rate applicable to him is 6.65% and his loan repayment tenure is 30 years.

Total Amount Payable

You will have to pay a total of ₹2.67 Lakhs over 5 years.


Your friend will pay ₹4.62 Lakhs over their repayment tenure of 30 years.

 

Bajaj Housing Finance Housing Loan Scheme Interest Rates

Bajaj Housing Finance has three primary housing finance schemes available for people from all walks of life. Their interest rates are as follows:

Bajaj Housing Finance Housing Loan Scheme Name

Interest Rates

Bajaj Housing Finance Home Loan

8.30% p.a. onwards

Bajaj Housing Finance Top-Up

8.30% p.a. onwards

Bajaj Housing Finance Home Loan Balance Transfer

8.70% p.a. onwards

 

Bajaj Housing Finance Home Loan Interest Rate for Salaried and Self-Employed Individuals

The Bajaj home loan interest rates applicable to salaried and self-employed applicants are as follows:

Type of Applicant

Interest Rates

Salaried

8.30% p.a. onwards

Self-Employed

8.30% p.a. onwards

 

Bajaj Housing Finance Home Loan Interest Rate for Women and Government Employees

The applicable Bajaj home loan interest rates applicable to women and government employees are as follows:

Type of Applicant

Interest Rates

Women

8.30% p.a. onwards

Government Employees

8.30% p.a. onwards

 

Bajaj Housing Finance Home Loan Balance Transfer Interest Rate

The Home Loan balance transfer facility allows you to transfer your remaining home loan balance to a different lender. You may want to go for this option to take advantage of the lower interest rates at which the other lender will allow you to pay off your pending loan amount. However, before you go ahead and make the switch, you must check the relevant foreclosing charges and applicable processing fees with both of your lenders. The Bajaj Housing Finance home loan balance transfer interest rate starts from 8.70% p.a.

Compare Bajaj Housing Finance Bank Home Loan Interest Rates With Top Banks

The interest rates at which other leading lending institutions are providing home loans are as follows:

Lender

Interest Rates (per annum)

Bajaj Housing Finance Limited

8.30% p.a. onwards

PNB Housing Finance 

8.25% p.a. onwards

Union Bank of India Limited 

7.90% p.a. onwards

ICICI Bank

8.40% p.a. onwards

HomeFirst Finance Company (HFFC) Limited 

9.50% p.a. onwards

 

 

Factors That Affect Bajaj Housing Finance Home Loan Interest Rates

The factors that could affect the Bajaj home loan interest rate applicable to you are as follows:

  • Your CIBIL Score: A CIBIL score of 750 or above will get you a loan at a lower interest rate, whereas you may be charged a higher interest rate if your CIBIL score is below that.

  • Your Monthly Income: Your monthly cash inflow will be a determinant of your loan repayment capacity. The higher your monthly pay, the lower your home loan interest rate will be and vice-versa.

  • Your Loan Amount: If you take a high loan amount, you get it at a higher interest rate and vice-versa.

  • Type of Applicant: If you are a salaried professional, you will be charged a lower interest rate in comparison to a self-employed person.

  • Relationship With Lender: If you already have a savings/current account with the lending bank and have taken loans in the past (which were repaid on time), you may get a home loan at a lower interest rate.

  • Down Payment: If you have paid a sizable portion of the property value upfront as a down payment to the concerned people, you may be able to secure a Bajaj Housing Finance Home Loan at a low-interest rate.

Bajaj Home Loan Interest Rate FAQs

✔️What is the Bajaj Housing Finance Home Loan Interest Rate on ₹ 25 Lakhs for 15 years?

You can avail a home loan of ₹ 25 Lakhs for 15 years from Bajaj Housing Finance at an interest rate starting from 8.30% per annum.

✔️Can I convert my Home Loan rate from fixed rate to floating rate or vice-versa?

Yes, you can convert your housing loan rate from fixed rate to floating rate as well as vice-versa.

 

✔️Do I get tax benefits on a Home Loan from Bajaj Housing Finance?

Yes. Section 24 and Section 80C of the Indian Income Tax Act of 1961 allow Indian residents to avail tax benefits on the principal amount as well as interest payments for a home loan.

 

✔️What is the current Bajaj Housing Finance home loan interest rate?

The current Bajaj Housing Finance home loan interest rate starts from 8.30%.

✔️How much financing can I get on Bajaj Housing Finance home loan?

You can avail a Bajaj Housing Finance home loan of up to Rs. 2.5 Cr on Bajaj Markets.

✔️What is the benchmark rate applicable for Mortgage loan?

The benchmark rate applicable for mortgage loans is Repo rate(RR).

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