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Home Loan in Ahmedabad

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Housing Loan in Ahmedabad: Overview

Known as the textile city of India, Ahmedabad is home to the famous Sabarmati Ashram, a 15th century mosque, mouth-watering street food at Manek Chowk, Kankaria Lake and plenty of shopping avenues. In 2013, Livemint termed Ahmedabad as the perfect metropolis, and the recent inauguration of Phase 1 of the Ahmedabad metro is a testimony to the city’s development.

While all these factors make the city ideal for real estate investment, according to recent reports, property prices in key areas like Bopal range from Rs.16 lakh to a whopping Rs.1.3 crore. That said, buying a home here is convenient when you opt for home loan by Bajaj Finserv. This solution not only gives you financing of up to Rs.3.5 crore, but also gives you assistance with picking the right property. Read on to know the benefits of funding your property with this home loan in Ahmedabad.
 

Ahmedabad Home Loan: Features & Benefits

Below are some of the standout benefits of the Bajaj Finserv Home Loan.

  • PMAY

    Home Loans by Bajaj Finserv allow you to claim subsidies offered via the Pradhan Mantri Awas Yojana scheme. You can avail these benefits by qualifying for the scheme basis simple eligibility criteria and your household’s yearly income. Once you qualify, you can get a subsidy of up to Rs.2.67 lakh on your home loan interest. 

  • Home Loan Balance Transfer

    Bajaj Finserv allows you to transfer your home loan to it so that you can benefit from a nominal housing loan interest rate. This makes repayment easier and you can also save a substantial amount. Additionally, you can carry out a balance transfer easily as the process has minimal documentation and speedy processing.

  • Top-up Loan

    Bajaj Finserv also offers additional funding over and above the loan sanction by way of its top-up loan. You can use a sum of up to Rs.50 lakh to spruce up your home’s interiors, buy a second parking lot or build an annexe without any hassle. You don’t have to submit additional documents, and you can get this home loan top up at a nominal interest rate too.

  • Part-prepayment and Foreclosure Facility

    You normally have pay a fee when you foreclose a loan or pay a portion of the principal before it’s due. However, you can part-prepay and foreclose a floating rate loan at nil extra charges with Bajaj Finserv to make repayment more economical.

  • Flexible Tenor

    Bajaj Finserv allows you to repay the loan via a lengthy tenor of up to 240 months. By selecting the right term you can strike a balance between ease of repayment and minimal loan expenditure.

  • Minimal Documentation

    You can obtain financing easily and quickly as Bajaj Finserv keeps the documents required for a home loan to a minimum.

Home Loan Interest Rate, Fees & Charges

In combination with charges such as processing fees, the interest rate indicates the cost of borrowing a home loan. The housing loan interest rate you obtain depends on the lender you choose, and varies from financial institution to another. Bajaj Finserv offers some of the best housing loan interest rate in the country, and you can pick between a fixed and floating interest rate.

To understand the cost of borrowing, take a look at this table.

 

Type of interest/ fee Amount applicable
Promotional rate of interest for salaried applicants 8.80% for a loan up to Rs.30 lakh
Fixed rate interest for salaried applicants 9.05% to 10.30%
Fixed rate interest for self-employed applicants 9.35% to 11.15%
Floating rate interest for salaried and self-employed applicants 20.90%
Foreclosure fees for fixed rate home loan 4% + taxes
Part-prepayment fees for fixed rate home loans 2% + taxes
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 per bounce
Penal interest 2% per month + applicable taxes
One-time secure fee Rs.9,999
Mortgage origination fee Rs.1,999 (non-refundable)

Eligibility Criteria for Home loan

To obtain a home loan you must meet a set of eligibility criteria as set by your lender. These terms are generally based on your citizenship, financial profile, employment and age. Lenders set these terms so as to verify your repayment capabilities and determine loan parameters such as the principal amount you can borrow. For instance, Bajaj Finserv allows self-employed borrowers to get a loan amount of up to Rs.5 crore, whereas salaried applicants can get up to Rs.3.5 Crore..

Take a closer look at the home loan eligibility to obtain a loan in Ahmedabad via Bajaj Finserv.

 

Eligibility Criteria Requirement
Citizenship For salaried and self-employed: Indian
Age For salaried: 23 to 62 year
For self-employed: 25 to 70 years
Work experience For salaried: 3 years or more
For self-employed: 5 years or more

Calculate Home Loan EMI

A good way to decide your home loan amount is to plan for repayment right at the beginning by using loan EMI calculator. This online tool tells you the total interest that you will have to pay, your monthly instalment, as well as the total amount due based on the principal amount, tenor and interest rate. For instance, if you take a loan of Rs.50 lakh for a 180-month tenor at a 10% interest rate, your EMIs amount to Rs.53,730 and total interest payable is Rs.46,71,511. You can get this information in an instant by using the EMI calculator.
 

Documents Required for Home Loan

Documents are an integral component of a home loan application as they support and prove your eligibility. Below is the home loan documents list that you should keep handy when applying for a Bajaj Finserv Home Loan..
 

  • KYC documents
  • Address proof
  • Identity proof
  • Photograph
  • Form 16 or latest salary slips
  • Bank account statements of the last 6 months
  • Documents proving business continuity for at least 5 years (if you are self-employed)

How to Apply for Home Loan

The application procedure differs depending on whether you are a salaried or self-employed individual.

Here is the procedure for salaried persons:
 

  • Fill out personal, financial and employment-related data in the relevant sections
  • Use the home loan eligibility calculator and the EMI calculator to determine your loan amount and the EMIs you need to repay
  • Provide details about the property that you have selected
  • Pay the online secure fee, if applicable, to book an available offer
  • After this, a relationship manager will get in touch with you to complete the on-boarding process
  • Submit the required documents and pay the necessary fees to help Bajaj Finserv verify your application

Here is the procedure for self-employed persons:
 

  • Access the home loan application form online
  • Fill out the relevant details and click ‘Submit’
  • A Bajaj Finserv representative will get in touch with you with your pre-approved offer

Alternatively, you can apply offing by sending an SMS containing ‘HLCI’ to 9773633633. Upon doing so a representative will communicate your pre-approved offer to you. You can also apply by visiting your nearest Bajaj Finserv branch.

Having considered the key benefits that the Bajaj Finserv Home Loan brings to the table, waste no more time in investing in a property. To get home loan financing quickly, check your pre-approved home loan offer. Doing so gives you quick approval via a customised deal.

 

Contact Us

Borrowers can contact with Bajaj Finserv customer care for all queries related to our home loans.

1. For new customers

  •  

    we have a calling line set up at 1800-103-3535.

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    You can also visit any of our branches. Click here to find out the address of your nearest branch.

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    just SMS “HOME” to 9773633633 and our representative shall get back to you.

2. For existing customers,

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    we are available at 020-39574151 (call charges applicable).

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    You can also write to us at: wecare@bajajfinserv.in.

Branch Address
Bajaj Finserv
Unit No.302 to 306, 3rd Floor, ""Torquoise Building"
O Opp. Centre Point, Panchvati Paanch Rasta, Off C. G. Road,
Ahmedabad, Gujarat
380006
 

How To Apply

  • 1

    Online

    To apply for a quick Home Loan in Ahmedabad, you need to log-on to our online application form and fill-in some basic details.

  • 2

    Offline

    You can call us on 1-800-209-4151 and our representative will get in touch with you.

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