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Applying for a home loan as a salaried individual is easier with Bajaj Finance. You can access home loans of up to Rs. 15 crore**, subject to eligibility, with interest rates starting at 7.50% p.a.**. A home loan for a salaried person offers several benefits, including a flexible repayment tenure of up to 32 years, no foreclosure charges, and a convenient online application process. With over 5,000 approved projects, Bajaj Finance also helps simplify property selection and speed up loan processing.
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How to apply for a home loan for salaried individuals in 15 mins*
Documents required to get a Bajaj Finserv Home Loan
Applying for a home loan for salaried individuals is convenient with Bajaj Finance. Keep your documents ready to make the process smoother. Follow these steps to apply:
- Enter personal details
Please enter your personal information. We'll use it to complete your profile. - Enter property details
Provide your property details to continue. This helps us process your request accurately. - Check your eligibility
Find out if you're eligible in seconds no impact on your credit score. - Check your offer details
Review the offer made for you. Ensure everything looks good before you proceed.
*Estimated completion time is ideal condition.
Features and benefits of our home loan for salaried individuals
A housing loan for salaried individuals with Bajaj Finance makes home financing more convenient with a straightforward application process and flexible repayment options. Explore the key features and benefits that can make your home loan journey easier and more manageable.
All you need to know about our home loan
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Loan of up to Rs. 15 crore*
Buying a home is one of the biggest milestones. Achieve it with a sizeable amount of up to Rs. 15 crore*.
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Low interest rates
With our home loan interest rates starting at 7.50% p.a.*, pay EMIs as low as Rs. 688/lakh*.
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Approval in 48 hours*
Your loan will be approved within 48 hours* of your application, in some cases, even earlier.
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Tenure of up to 32 years*
Repay your loan comfortably with our long repayment tenure ranging up to 32 years*.
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No foreclosure fee for individuals
Individual borrowers who choose a floating interest rate can foreclose the entire amount or prepay a part of the loan without paying an additional fee.
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Hassle-free application
Our doorstep document pick-up service reduces your multiple branch visits and makes loan application process easier.
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Balance transfer facility
Benefit from our home loan balance transfer facility and be eligible for a top-up loan of up to Rs. 1 crore* or higher.
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5000+ approved projects
Choose from our 5000+ approved projects to avail of a quick loan.
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Externally benchmarked interest rates
You can opt for interest rates linked to an external benchmark, such as the repo rate to benefit during favourable market conditions.
*Terms and conditions apply
Eligibility criteria and documents required for salaried individuals
Documents required to get a Bajaj Finserv Home Loan
Eligibility criteria for salaried individuals
Home loan eligibility criteria for salaried individual are simple and basic. Here is the list of parameters you need to fulfil to qualify for a home loan.
Nationality | You must be an Indian citizen residing in India. |
Age | A salaried applicant must be between 23 years to 67 years, *The upper age limit is considered as the age at the time of loan maturity. |
CIBIL Score | A CIBIL Score of 725 or higher is ideal to get a home loan. |
Occupation | As a salaried Applicant, you must be employed with a stable income source from a public or private company with a minimum of 3 years of work experience |
Documents required for salaried individuals
- KYC documents (identity and address proof)
- Proof of income (latest salary slips)
- Account statements for the last 6 months
Note: This is an indicative list that may change based on your actual loan application.
Applicable fees and charges on our home loan for salaried individuals
A home loan for salaried individuals starts at a home loan interest rate of 7.50% p.a.*, depending on your profile. Here is the list of complete fees and charges.
Type of fee | Applicable charges | ||
Rate of interest | Salaried | Self-employed | Doctors |
7.50% to 15.00%* | 8.05% to 10.65%* | 7.75% to 10.30%* | |
Processing fees | Up to 4% of the loan amount | ||
Bounce charges | Up to Rs.30 Lakh: Rs.500 More than Rs.30 Lakh and up to Rs.50 Lakh: Rs.500 More than Rs.50 Lakh and up to Rs.1 Crore: Rs.750 More than Rs.1 Crore and up to Rs.1.5 Crore: Rs.750 More than Rs.1.5 Crore and up to Rs.10 Crore: Rs.3000 More than Rs.10 Crore: Rs.10,000 | ||
Penal interest | Click here to know about the penal charges. | ||
Interest and Principal Statement Charges | NIL | ||
Part-prepayment charges** | Part-prepayment charges :- (1) For individual and non-individual borrowers with floating interest rate loans for non-business purposes: For Term Loan – Nil For Flexi Dropline Loan – Nil (2) For individual and non-individual borrowers with floating interest rate loans for business purposes and all borrowers with fixed interest rate** loans: For Term Loan – 2% on the part-prepayment amount. Flexi Dropline Loan - Nil *GST as applicable will be payable by the borrower in addition to the prepayment charges, if any. **Nil for home loans closed by borrowers out of their own sources. Own sources refer to any source, other than borrowing from a bank/NBFC/HFC and/or a financial institution. Note: In the case of dual-rate home loans (fixed for the initial period and then floating), the foreclosure/part-prepayment charges will be applicable as per the status of the loan as on the foreclosure/part-prepayment date. | ||
Foreclosure Charges | Foreclosure Charges :- (1) For individual and non-individual borrowers with floating interest rate loans for non-business purposes: For Term Loan – Nil For Flexi Dropline Loan – Nil (2) For individual and non-individual borrowers with floating interest rate loans for business purposes and all borrowers with fixed interest rate** loans: For Term Loan – 4%* on principal outstanding For Flexi Dropline Loan – 4%* on the sanctioned amount during the Flexi interest only loan repayment tenure; and 4%* on the available Flexi loan limit during the Flexi Dropline Loan tenure *GST as applicable will be payable by the borrower in addition to the prepayment charges, if any. **Nil for home loans closed by borrowers out of their own sources. Own sources refer to any source, other than borrowing from a bank/NBFC/HFC and/or a financial institution. Note: In the case of dual-rate home loans (fixed for the initial period and then floating), the foreclosure/part-prepayment charges will be applicable as per the status of the loan as on the foreclosure/part-prepayment date. | ||
Frequently asked questions
Overview
Eligibility and documents
Tax benefits
Fees and charges
How much home loan can I get on my salary?
Your home loan eligibility depends on your monthly salary, existing financial obligations, age, credit score, and repayment capacity. Bajaj Finance offers a home loan for salaried individuals of up to Rs. 15 crore*, subject to eligibility. You can use the home loan EMI calculator to compare loan amounts, interest rates, and tenures before selecting a suitable repayment plan.
How long does a home loan for salaried individuals take to get approved?
Bajaj Finance offers home loan approval within 48 hours** of application submission, subject to eligibility and verification. Salaried applicants can benefit from a streamlined process because their income is supported by salary slips and employment records. You can apply online, check your eligibility without affecting your credit score, and submit the required documents to complete the application process.
What are the eligibility criteria for a home loan for salaried individuals?
To qualify for a home loan for salaried individuals, you must be an Indian citizen residing in India, aged between 23 years and 67 years, at loan maturity. You should have a CIBIL Score of 725 or above, stable employment in a public or private organisation, and at least three years of work experience. Final approval depends on your overall eligibility.
What documents does a salaried person need for a home loan?
Salaried applicants generally need identity and address proof, recent salary slips, Form 16, and bank statements for the previous six months. Additional documents, such as property papers, an appointment letter, or an employment certificate, may be required as per the lender's requirements. Keeping the necessary documents ready can help simplify verification and ensure a smoother home loan application process.
Does my CIBIL Score affect my home loan application?
Yes, your CIBIL Score plays an important role in determining your home loan eligibility and applicable interest rate. Bajaj Finance requires a score of 725 or above for salaried applicants. A higher score reflects responsible credit management and may improve your chances of approval. Checking your eligibility does not affect your credit score, allowing you to explore available options.
What tax benefits can a salaried person claim on a home loan?
Under the old tax regime, eligible salaried borrowers can claim deductions of up to Rs. 1.5 lakh on principal repayment under Section 80C and Rs. 2 lakh on interest under Section 24(b) for qualifying self-occupied properties. Stamp duty and registration expenses may also qualify under Section 80C. Tax benefits depend on applicable conditions and your chosen tax regime.
What is the interest rate on a home loan for salaried individuals?
Bajaj Finance offers home loan interest rates for salaried individuals starting at 7.50% p.a.*, The applicable rate depends on factors such as your CIBIL Score, monthly income, repayment history, loan amount, and property details. A strong credit profile may help you secure favourable terms. Compare the applicable interest rate and repayment tenure to understand your total borrowing cost.
Are there any charges for prepaying my home loan?
Bajaj Finance does not levy part-prepayment or foreclosure charges on eligible floating-rate home loans taken by individual borrowers for non-business purposes. This allows salaried borrowers to use bonuses, salary increments, or additional savings to reduce their outstanding principal. However, charges may differ for fixed-rate loans or other loan categories. Review the applicable fees and charges mentioned in your loan agreement before making a prepayment.
What do our customers say about us
Amit Shiva
Reviewed on 05 Mar 2025
Smooth and transparent home loan process. The interest rates were competitive, and documentation was minimal. The team guided me clearly at every step, making my first home purchase stress-free. Highly recommended for quick approvals.
Sandeep Kulkarni
Reviewed on 25 Feb 2025
The loan disbursal was fast, and the customer support team was extremely patient with all my queries. Flexible EMIs helped me manage my monthly expenses easily. A great experience for salaried homebuyers.
Ritika Agarwal
Reviewed on 13 Apr 2025
I had a great experience while transferring my existing home loan. The process was quick, and I saved significantly with the lower interest rate. Customer service was helpful throughout. Highly recommended for balance transfers.
Manoj Verghese
Reviewed on 09 Dec 2024
Clear guidance, quick approval, and flexible repayment options made buying my new house easier than expected. The team handled everything professionally. Very satisfied and would definitely recommend their home loans
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Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.