Bajaj Finserv Home Loan
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Home Loan Fees & Charges

Avail a Home Loan from Bajaj Finserv with a lower interest rate and negligible fees and charges. Bajaj Finserv Home Loans also come with transparent foreclosure and part-prepayment charges. Knowing these charges will help 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 Part Prepayment Charges and Foreclosure Charges

 

Floating Rate Loans: If all Borrowers and Co-Borrowers are Individuals

BORROWER TYPE: INDIVIDUAL TERM LOAN FLEXI TERM LOAN FlEXI HYBRID LOAN
Time period (months) >1 >1 >1
Foreclosure charges Nil Nil Nil
Part Payment charges Nil Nil Nil
 

Floating Rate Loans: If any Borrower or Co-Borrower is a Non-Individual

 

Floating Rate Loans: For Non-Individuals

BORROWER TYPE: NON-INDIVIDUAL TERM LOAN FLEXI LOAN FlEXI HYBRID LOAN
Time period (months) >1 >1 >1
Foreclosure charges 4%* on Principal outstanding 4%* on the available flexi loan limit 4%* on sanctioned amount during flexi interest only loan repayment tenure;
and
4%* on the available flexi loan limit during flexi term loan tenure
Part-prepayment charges 2%* on the part- prepayment amount NA NA
 

* GST as applicable will be payable by the Borrower in addition to the Prepayment Charges.

  • 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.
  • Part-prepayment made should be more than 1 EMI.
  • These charges not applicable for the Flexi Interest-only Loan and Flexi Term Loan facilities.

Home Loan: Other Fees and Charges

 

BHFL FRR was applicable on all types of loans booked by Bajaj Housing Finance till March 2018; however, it is only applicable to unsecured loans since April 2018.
 

TYPE OF FEES CHARGES APPLICABLE
Processing Fee Up to 6% of the loan amount
Loan Statement Charges NIL
Interest and Principal Statement Charges NIL
EMI Bounce Charges Up to Rs. 3,000
Penal Interest Up to 2%
Secure Fee Up to Rs.4,999 (one time)

*Applicable following the first EMI clearance.

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 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?

When applying for a home loan with us, applicants are required to pay a processing fee of up to 6% of the total loan amount. Bajaj Finserv keeps its home loan processing fees nominal and affordable, ensuring minimum strain on the borrower’s finances when availing the advance.