Mumbai is one of the most sought-after cities in India as it offers plenty of job opportunities and facilities that enhance your quality of life, such as an excellent public transport system. If you wish to settle down here, Bajaj Finserv can help you fulfil your dream with its Home Loans of up to Rs.3.5 crore, as real estate prices in Mumbai are extremely high. Moreover, you can avail this Home Loan at minimal housing loan interest rates, for a tenor of up to 20 years. To find out why you should pick Bajaj Finserv’s Home Loan in Mumbai, read on.
A government initiative, Pradhan Mantri Awas Yojana scheme makes buying a home affordable. Lenders like Bajaj Finserv allow you to avail its benefits so that you can enjoy a subsidy of up to Rs.2.67 lakh along with the Bajaj Finserv Home Loan’s excellent features.
To benefit from low housing loan interest rates, you can transfer existing home loan balance to Bajaj Finserv. You can do this by completing a simple process and submitting minimal documentation.
As an existing home loan borrower, you can opt for a Top up Loan of up to Rs.50 lakh. What’s more, you can use this amount as per your discretion for home renovation, business expansion, or your children’s education. Bajaj Finserv makes the process of availing this sanction easy, as you don’t have to submit any additional documents to access this low-interest loan.
Bajaj Finserv lets you prepay and foreclose your loan at no additional charge. You can avail this facility and clear your loan before the tenor ends to reduce your cost of borrowing if your finances allow you to do so.
Bajaj Finserv has a flexible tenor of up to 240 months for your home loan. This makes repayment a stress-free experience and you can choose a tenor of your choice based on your financial standing.
Bajaj Finserv allows you to apply for a Home Loan in Mumbai using minimal documents. This notably accelerates the loan approval and disbursal process.
|Interest Rates and Fees||Charges|
|Home loan interest rate (for salaried individuals)||6.75%* to 10.30%|
|Home loan interest rate (for self-employed individuals)||6.75%* to 11.15%|
|Bajaj Finance Limited floating reference rate||20.90% for salaried and self-employed individuals|
|Promotional interest rate||From 6.75%* for a loan up to Rs.30 lakh for salaried individuals|
|Processing fees (for salaried individuals)||Up to 0.80%|
|Processing fees (for self-employed individuals)||Up to 1.20%|
|Penal interest||2% per month+ applicable taxes|
|Loan statement charges||Rs.50|
|One-time secure fee||Rs.9,999|
|Non-refundable mortgage origination fee||Rs.1,999|
|Principal and interest statement charges||Nil|
|EMI bounce charges||Rs.3,000|
Bajaj Finserv has simple home loan eligibility criteria, which means that you can apply for this loan easily. The basic requirement is that you need to be an Indian citizen residing in India. Thereafter, you only have to fulfil 2 other criteria to apply for Bajaj Finserv’s Home Loan in Mumbai.
|Criteria||Salaried applicant||Self-employed applicant|
|Age||23 to 62 years||25 to 70 years|
|Minimum work experience/ business continuity||3 years||5 years|
You can contact with Bajaj Finserv customer care for all queries related to our home loans.
1. For new customers