Affordable Home Loan

If you meet the eligibility criteria, you can secure an affordable home loan of up to 50 Lakh from Bajaj Finance. The loan amount approved will depend on several factors such as your age, income profile, CIBIL Score, and other relevant criteria.

No, as per RBI guidelines, lenders are not allowed to offer 100% home financing. You will need to make a down payment of 10-20% of the property’s purchase price. Generally, you can obtain up to 80% of the property’s value through a housing loan.

Yes, opting for an affordable home loan is a smart financial move for several reasons:

• It provides additional funding for your housing goals without impacting your savings
• You can choose from various loan options based on your needs
• Affordable interest rates make repayments easier
• The long tenure allows you to repay the loan in manageable EMIs

Yes, you can opt for a joint affordable home loan if you wish to borrow a larger amount. Family members, including spouses, parents, siblings, and children, can be co-applicants on a joint home loan.

To qualify for an affordable home loan, individuals must meet specific eligibility criteria that assess their ability to repay. The factors influencing eligibility include:

• Credit score
• Monthly income
• Existing financial obligations and debt
• Employment status
• Applicant's age
• Property to be purchasedTop of FormBottom of Form

Below are the documents required to apply for an affordable home loan from Bajaj Finance:

• KYC documents (identity and address proof)
• Proof of income (salary slips or P&L statement)
• Proof of business (for self-employed applicants), and
• Account statements for the last 6 months

To apply for an affordable home loan in India, first check your eligibility and gather necessary documents such as ID proof, address proof, income proof, and property details. You can submit your application online or at a branch. After verification, the lender will approve the loan based on your eligibility.

You can track the status of your home loan application online by entering your application number/ID along with your mobile number/contact details.
Alternatively, you can reach out to your lender and inquire about your loan status by providing your application ID/reference number.

Follow these steps to easily secure an affordable home loan:

• Review your credit report and correct any errors
• Use a home loan calculator to estimate EMIs and choose a loan
• amount based on your repayment capacity
• Keep all required documents ready
• Compare available offers to find the best housing loan option
• Make sure you meet all eligibility criteria before applying

You can easily get an affordable home loan up to ₹50 lakh from Bajaj Finance if you meet our eligibility requirements. The approved loan amount is based on key factors such as your age, income profile, CIBIL score, and other criteria.

Yes, you can shorten the tenure of your affordable home loan by making higher EMI payments or part-prepayments. This helps reduce the principal faster, thus shortening the loan term. Get in touch with your lender to adjust your EMI in a way that suits your financial situation.Top of Form

To reduce an affordable home loan interest, choose a shorter tenure, make regular prepayments, or refinance at a lower interest rate. Additionally, maintain a strong credit score to qualify for better rates and negotiate favourable terms with your lender.