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Home Loan Fees & Charges

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Current Home Loan Fees & Charges

Bajaj Finserv gives you the negligible fees and charges with the lower home loan interest rate. Bajaj Finserv Home Loans also come with transparent foreclosure charges and part-prepayment charges. Knowing the foreclosure charges and part-prepayment charges on your home loan helps you plan your repayment better. Moreover, if you are an individual borrower with a floating interest home loan, you do not have to pay any foreclosure charges or part-prepayment charges on your housing loan.

Home Loan Foreclosure Charges

Borrower Type: Interest Type Time Period (Months) Foreclosure charges
Individual: Floating rate >1 Nil
Non-individual: Floating rate >1 4% + applicable taxes
All borrowers: Fixed rate >1 4% + applicable taxes
  • For Term Loan, charges are calculated on the outstanding principal.
  • For Flexi Interest-only Loan, charges are calculated on the sanctioned limit.
  • For Flexi Term Loan, charges are calculated on the current dropline limit.

Home Loan Part - Prepayment Charges

Borrower Type: Interest Type Time Period (Months) Foreclosure charges
Individual: Floating rate >1 Nil
Non-individual: Floating rate >1 2% + applicable taxes
All borrowers: Fixed rate >1 2% + applicable taxes
  • Part-prepayment made should be more than 1 EMI.
  • These charges not applicable for the Flexi Interest-only Loan and Flexi Term Loan facilities.

Other Fees and Charges

BFL FRR for cases booked prior to 20 June 2018 was 12.95%
Other Fees and Charges Charges Applicable
Processing fees Up to 0.80% (for salaried individuals) Up to 1.20% (for self-employed individuals)
Loan statement charges Rs. 50
Interest and principal statement charges NIL
EMI bounce charges Rs. 3,000
Penal interest 2% per month
Secure fee Rs. 9999 (One time)
Mortgage origination fee Rs.1,999 (non-refundable)

FAQs about Home Loan Fees and Charges

What are the foreclosure charges for Home Loan?

Foreclosure charges are the fees that you pay when foreclosing your home loan. Bajaj Finserv does not charge any fee when individuals on floating rates opt for a foreclosure of their loan.

The charge is 4% + applicable taxes for all borrowers on fixed rates and also for non-individuals on floating rates.

What are the part-prepayment charges for Home Loan?

Part-prepayment charges are the fees you pay when you make a part prepayment of the loan. Any amount you pay over and above one EMI during your home loan tenure is a part prepayment.

Bajaj Finserv does not charge any fee when individuals on floating rates part-prepay their loan.

All other borrowers on fixed rates and also non-individuals on floating rates have to pay 2% + applicable taxes when part-prepaying their loan.

What is the processing fee for Home Loan?

The home loan processing fee is a one-time fee that lenders charge to complete various loan-related formalities like credit checks, property verification, document collection, etc.

Bajaj Finserv charges a processing fee of up to 0.80% of the loan amount for salaried applicants and up to 1.20% for self-employed applicants.

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