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Also known as the Silicon Valley of India, Bangalore is home to over 1.5 million employees belonging to the IT and IT-enabled service sector as of 2017, as well as reputed education institutions such as IIM and Christ University. Additionally, the city boasts of ample greenery and a cosmopolitan culture, making it a great place to settle down.
Also known as the Silicon Valley of India, Bangalore is home to over 1.5 million employees belonging to the IT and IT-enabled service sector as of 2017, as well as reputed education institutions such as IIM and Christ University. Additionally, the city boasts of ample greenery and a cosmopolitan culture, making it a great place to settle down.
Since buying a home in Bangalore can be expensive, Bajaj Finserv offers Home Loans under the Pradhan Mantri Awas Yojana (PMAY), an affordable housing scheme launched by the government. Thanks to PMAY’s subsidised housing loan interest rate under the Credit Linked Subsidy Scheme, you can get a subsidy of up to Rs.2.67 lakh.
Bajaj Finserv offers an easy and convenient home loan balance transfer facility in case you want to refinance an existing home loan. By doing this you can benefit from a lower interest rate and opt for a longer tenor to reduce your EMIs and make repayment easier.
If you are an existing home loan borrower or have refinanced your debt, you can opt for a Top up Loan of up to Rs.50 lakh. You can use this amount to meet other expenses and goals like home renovation and business expansion. What’s more, you don’t have to submit additional documentation to avail this facility, and you only have to pay a nominal interest rate on the amount.
Bajaj Finserv allows you to foreclose your loan at no additional charge. Doing so will help you repay it before the tenor and reduce your cost of borrowing. Further, you can also make part-prepayments towards the principal amount to clear your debt as soon as possible, if your finances allow you to do so.
To make repayment stress-free, Bajaj Finserv offers flexible tenor of up to 240 months. Thus, you can choose either a short or long tenor based on your affordability and repay your home loan conveniently.
When it comes to documentation for a Home loan in Bangalore, Bajaj Finserv has minimum requirements. This further accelerates the loan acquisition process.
A cost-effective home loan interest rate, charges, and fees make Bajaj Finserv’s Home Loan in Bangalore an affordable option. This is important, as the interest rate as well as other fees and charges determine whether the loan fits with your budget or not.
When you choose a Bajaj Finserv Home Loan, here are the interest rates and other charges that are applicable.
Bajaj Finserv Housing Loan Interest Rate | |
---|---|
Type of interest rate | Interest rate applicable |
Promotional housing loan interest rate for salaried applicants | 8.60% onwards* |
Regular interest rate for salaried applicants | 9.05% to 10.30% |
Regular interest rate for self-employed applicants | 9.35% to 11.15% |
Bajaj Finance Limited floating reference rate for salaried applicants | 20.90% |
Bajaj Finance Limited floating reference rate for self-employed applicants | 20.90% |
Type of charge | Fee/charge applicable |
---|---|
Processing fees | Up to 0.80% for salaried applicants Up to 1.20% for self-employed applicants |
Penal interest | 2% per month + tax |
Interest and principal statement charges | NIL |
Loan statement charges | Rs.50 |
EMI bounce charges | Rs.3,000 |
Secure fee | One-time payment of Rs.9,999 |
Mortgage origination fee | Rs.1,999 (non-refundable) |
Bajaj Finserv has basic home loan eligibility criteria which means that it’s easy to qualify for the loan. These terms indicate your repayment ability, so meeting the criteria is imperative to getting quick loan approval.
When you apply with Bajaj Finserv for a Home loan in Bangalore, take a look at the 3 eligibility criteria that you have to meet.
Home Loan Eligibility Terms | Salaried Borrowers | Self-employed Borrowers |
---|---|---|
Residential status | Indian | Indian |
Age | 23–62 years | 25–70 years |
Work/business experience | At least 3 years | At least 5 years |
New and existing customers can contact with Bajaj Finserv customer care for all queries related to our home loans.
1. For new customers,
Congratulations! You have a pre-approved personal loan/top-up offer.