The NBFC Bajaj Finserv Limited announced an interest rate reduction for its home loans today.
The rate of interest for salaried and professional applicants now starts from 6.70%* p.a. - 0.05% down from the earlier 6.75%* p.a.
Applicants with strong credit and income profiles stand a good chance to be offered this promotional rate, effectively making their home loan EMIs as low as Rs. 645/lakh*.
Existing home loan customers can also benefit from this new interest rate by transferring their home loan to Bajaj Finserv. Not only do they save on the interest outflow, but they also have the option to avail of a top-up loan. The home loan balance transfer process is quick, hassle-free, and completed with minimal documentation.
Bajaj Finserv has slashed its home loan interest rate as part of a festive offer, and those interested can make the most of it by applying for home loan either online through the on their website or offline through any of their branches pan India. Through the online process, applicants benefit from a Contact-Free Loan application, where the entire process except the last stage is via call or mail.
Some of the other features and benefits that applicants enjoy include:
A flexible repayment tenor of up to 30 years
Sizeable home loan amount of Rs. 5 Cr*, or even higher, basis eligibility
Sizeable top-up loan amount of Rs. 1 Cr*, or even higher, basis eligibility on balance transfer
External benchmark linked loans (repo rate)
Interest subsidy under the EWS and LIG categories of the PMAY scheme
Repayment options tailored to your needs
Swift processing and better terms on 5,000+ approved projects
Doorstep service for document pick-up
Disbursal in 48 hours* from approval and verification
Online account management
Zero part-prepayment and foreclosure charges
The lender's home loan eligibility criteria for salaried employees is simple. Applicants should have a minimum of three years of work experience with a public or private company or a multinational.
Apart from this, one must be an Indian citizen (NRIs are ineligible) and between 23 and 62 years of age, where 62 years is counted as the age at the time of loan maturity. The criterion in terms of income varies on the basis of the applicant's age and residential location between Rs. 30,000 and Rs. 50,000.
Bajaj Finance Limited, the lending company of Bajaj Finserv Group, is one of the most diversified NBFCs in the Indian market, catering to more than 44 million customers across the country. Headquartered in Pune, the company's product offerings include Consumer Durable Loans, Lifestyle Finance, Lifecare Finance, Digital Product Finance, Personal Loans, Loans Against Property, Small Business Loans, Home loans, Credit Cards, Two-wheeler and Three-wheeler Loans, Commercial lending/SME Loans, Loan against Securities, and Rural Finance, which includes Gold Loans and Vehicle Refinancing Loans along with Fixed Deposits.
Bajaj Finance Limited prides itself on holding the highest credit rating of FAAA/Stable for any NBFC in the country today. It is also the only NBFC in India with the international 'BBB' with a stable outlook for the long-term, by S&P Global Rating.
*Terms and Conditions Apply
For more information, please visit Bajaj Finserv .
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( With inputs from ANI )
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