Bajaj Housing Finance reduced its home loan interest rate to 6.70 per cent from 6.75 per cent per annum for salaried and professional applicants. The 100 per cent subsidiary of Bajaj Finance Limited said in a statement that applicants with a good credit, income, and job profile can save substantially by availing of the new interest rate on home loans. Customers with an existing home loan can also avail of the new rate by opting for a Home Loan Balance Transfer, according to Bajaj Housing Finance.
The eligible applicants can transfer the balance amount on the home loan to Bajaj Housing Finance Limited and avail the reduced interest rate – revised to 6.70 per cent. The balance transfer also come with a top-up balance loan facility. For the loan, applicants with a good credit history and income and employment record can apply for a sizeable loan amount of Rs 5 Crore, or higher, on the basis of eligibility, according to the statement.
Bajaj Housing Finance Home Loans – Top Features:
Bajaj Housing Finance offers contact-free loans as the entire process is completed virtually. Customers need to apply through its website, after which the coordination is done through email and phone. Customers only need to meet the representative in person at the final step where the loan agreement has to be signed and other registration formalities’ are completed.
An Industry-First External Benchmark Linked Loans
Customers have the option to avail the home loans where the interest rate is linked to external benchmarks, such as the repo rate. With this, customers stand a chance to benefit from the regulatory rate cuts.
Repayment Tenor of 30 Years
Bajaj Housing Finance offers flexible repayment tenors to ensure customers can repay comfortably, without stretching their personal finances too thin. They can opt for a tenor of up to 30 years when applying for a home loan.
Zero Part-prepayment and Foreclosure Charges
In line with the Reserve Bank of India (RBI) guidelines, individuals with home loans at S floating interest rates can choose to repay either a part of their loan, or the entire sum, before the end of their tenors without any additional charges.