Lucknow is a northern city of India that is steeped in history and culture. This city is the eleventh most populated in the country and is an influential centre for matters of governance, education, commerce and tourism. Due to all of these factors, its residential market continues to grow with each passing year. This uptrend means that you may need financial assistance to buy the flat or villa of your choice. Thankfully, you can opt for the Bajaj Finserv Home Loan in Lucknow to gain access to a sanction of up to Rs.3.5 crore at a competitive interest rate.
Read on for a detailed look at why the Bajaj Finserv Home Loan is an efficient way to purchase property in the capital of Uttar Pradesh.
The Bajaj Finserv Home Loan offers PMAY benefits to first-time homebuyers. If you qualify for PMAY scheme, you can get an interest subsidy on home loans and save up to Rs.2.67 lakh!
If you’re already servicing a home loan, you can transfer home loan to Bajaj Finserv in order to enjoy better repayment terms and loan features. Best of all, this transfer is economical and requires minimal documentation.
When you opt for the Bajaj Finserv Home Loan, you also gain access to additional funding of up to Rs.50 lakh via a top up loan. You can use this sum as you deem fit, whether it’s to decorate your home’s interiors or for other obligations like your child’s education.
Part-prepayments towards the principal brings down the interest component of your loan, which is why Bajaj Finserv allows you to foreclose or make part-prepayments at no extra charge. This means that you can repay your loan as per your convenience if you have surplus funds.
This loan has a lengthy repayment window of up to 20 years. As a result, you can choose a tenor that you’re comfortable with to make repayment stress-free.
In order to process your Bajaj Finserv Home Loan you only have to submit basic documentation such as identity proof, address proof and salary slips.
|Types of rate||Interest rate applicable|
|Regular interest rate for salaried borrowers||6.75%* to 10.30%|
|Regular interest rate for self-employed borrowers||6.75%* to 11.15%|
|Promotional interest rate for salaried borrowers||6.75%* onwards|
|Bajaj Finance Limited floating reference rate for salaried and self-employed applicants||20.90%|
|Nature of charge||Amount due|
|Processing fees for salaried borrowers||Up to 0.80%|
|Processing fees for self-employed borrowers||Up to 1.20%|
|Penal interest||2% per month + taxes|
|Loan statement charges||Rs.50|
|Secure fee||Rs.9,999 (payable once)|
|Mortgage origination fee||Rs.1,999 (Non-refundable)|
|Principal and interest statement charges||Nil|
|EMI bounce charges||Rs.3,000|
Before you apply for a home loan, you must be sure that you qualify for it. To check this, examine the eligibility criteria and ensure that you meet the requirements. Bajaj Finserv makes this process easy as it has basic home loan eligibility criteria as stated below.
|Type of loan applicant||Age (in years)||Work experience/ Business continuity (in years)||Residency|
New and existing customers can contact with Bajaj Finserv customer care for all queries related to our home loans.
1. For new customers