• Apply now

Money in bank in 24 hours

Apply now

Buying a house? Choose a Flexi Hybrid Home Loan

  • Highlights

  • Get a hassle-free, quick sanction with simple eligibility

  • Pay interest-only EMIs for the first 4 years

  • Make prepayments and avail an add-on loan

  • Repay the loan ahead of time with ease

Buying a house of your own involves a lot of planning. It starts with selecting a home of your choice and extends to setting up the house once you buy it. However, the most important consideration in this process is selecting a home loan to facilitate the purchase. In order to benefit from this form of finance, you can now choose a Flexi Hybrid Home Loan instead of a term loan. With a host of benefits, this Flexi Hybrid Home Loan from Bajaj Finserv not only gives you an affordable, high-value sanction, but it also helps you repay the loan comfortably. Take a look at why you should choose this option instead of a term loan.

You can avail the loan on simple eligibility terms

Qualifying for a Flexi Hybrid Loan is easy as you only have to meet a few conditions. As per the eligibility criteria you must be a resident citizen of India and have a regular source of income. Apart from these personal eligibility terms, your application for a home loan is not valid if the property that you are buying is under construction and if you are over 50 years of age. Once you match these conditions, you can simply apply using a handful of documents to get a hassle-free sanction of up to Rs.10 crore.

You can enjoy ease of repayment

When you opt for a Flexi Hybrid Loan, then you can also enjoy the benefit of easy repayment terms. With this loan, you can repay what you borrow as interest-only EMIs for the first 4 years. Thereafter, from the 5th year, you can repay the loan with EMIs comprising both the principal and interest. This helps you get accustomed to the lengthy commitment of repaying a home loan, and gives you breathing room in the first 4 years to plan your finances.

Flexi Hybrid Home Loan - Things to Know Before Applying

You can use prepayments to access additional funds

You can borrow a Flexi Hybrid Loan for a comfortable tenor of up to 25 years. During this period, you can make as many part-prepayments as you want at no extra charge. To add to the benefits of a Flexi Hybrid Home Loan, Bajaj Finserv offers a unique add-on loan. When you make a prepayment, the amount is set aside and isn’t deducted from your principal. Then, later in the tenor, you have the option to access your prepayment amount as a loan at a very low rate of interest. The best part is that you only have to pay interest on this loan. When the home loan’s balance is equal to the amount that you have part-prepaid, the lender will use the amount to close your loan before the lapse of the tenor.

You can repay the loan quicker

In the event that you don’t withdraw the amount that you have prepaid, you can still benefit from closing your loan quicker than usual. Once the outstanding balance of your Flexi Hybrid Home Loan is equal to the amount that you have part-prepaid, and the interest that you have paid on it, the lender will use this amount and foreclose your loan ahead of its tenor. This allows you to repay the loan quicker than you had anticipated.

You can buy a home early on in life

Choosing the Flexi Hybrid Home Loan allows you to become a homeowner decades before your retirement. For example, if you are an IT professional in your 20s, you may want to own a home, but you might find a conventional home loan out of your budget. Going for a Flexi Hybrid Home Loan will allow you to buy your home now, without putting off the decision for later. You can use the low, interest-only EMIs in the initial few years to your advantage. Then, as your income increases over the years, you are sure to be able to budget for regular EMIs with ease.

So, avail a Flexi Hybrid Home Loan from Bajaj Finserv and realise your dream of buying a home. Make use of the various pre-approved offers to make your experience more fulfilling and affordable. Share your basic details and check your pre-approved offer to get started.

The information, products, and services included in or available on bajajfinserv.in may include inaccuracies or typographical errors. Changes are periodically added to the information herein. bajajfinserv.in and/or its respective suppliers / affiliates may make improvements and/or changes on the bajajfinserv.in website at any time.
The material contained in this site and on associated web pages is general information and it is not intended to be advice on any particular matter. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. The decision with respect to any financial product or opportunity or nature or suitability or choice or the viability of any product or service shall always be sole responsibility and decision of the subscriber and user.

How would you rate this article

 Please let us know why?

What did you dislike?

What did you dislike?

What did you like?

What did you like?

What did you like?

Next up


Decoding your home loan fees and charges

Subscribe Now

Subscribe Now

Subscribe to our monthly newsletter and get the latest updates

Thank you for subscribing