Avail top-up loan up to Rs. 50 Lakh with a Home Loan Balance Transfer
|Type of Fees and Interest Rates||Charges Applicable|
|Interest rate for salaried individuals||BHFL-SAL FRR* – Margin = 6.70% to 10.30%|
|Interest rate for self-employed individuals||BHFL-SE FRR* – Margin = 9.35% - 11.15%|
|*BHFL-SAL FRR (Bajaj Finance Limited Floating Reference Rate for salaried customers)||6.70%|
|*BHFL-SE FRR (Bajaj Finance Limited Floating Reference Rate for self-employed customers)||13.30%|
|Processing fees||Upto 6% of the Loan Amount|
|Loan Statement Charges||NIL|
|Interest and principal statement charges||NIL|
|EMI bounce charges||Rs. 3,000 per bounce|
|Penal interest||2% per month|
|Secure fee||Rs. 9999|
*Applicable following 1st EMI clearance.
|Borrower Type: Interest Type||Time Period (Months)||Foreclosure Charges|
|Individual: Floating rate||>1||4% plus applicable taxes|
|Foreclosure Charges||>1||4% + taxes applicable|
|Part Payment Charges||>1||4% plus applicable taxes|
*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.
|Individual: Floating rate||Time Period (Months)||Part-prepayment Charges|
|Individual: Floating rate||>1||Nil|
|Non-individual: Floating rate||>1||2% plus applicable taxes|
|All borrowers: Fixed rate||>1||2% plus applicable taxes|
*Part-prepayment made should be greater than 1 EMI.
*These charges are not applicable for the flexi interest-only and flexi term facilities.
In the current monetary system, the Reserve Bank of India uses the repo rate as a money market tool to achieve several fiscal goals for the economy. Any increase or decrease in the same effects the ROI of the financial lending institution.
The current repo rate is 4.00% and the BFL ROI is 6.70%*.