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25 Sep 2018, Edition - 1169, Tuesday

FLASH NEWS:

  • Another big SC verdict tomorrow: Top court to decide if court proceedings should be live streamed
  • SC’s Aadhaar judgement tomorrow
  • PM Modi unable to answer our questions, says Congress President Rahul Gandhi
  • NC accepts Junaid Mattu’s resignation
  • National Conference spokesperson Junaid Azim Mattu resigns from party to contest civic polls from Srinagar
  • ‘Sabka Saath Sabka Vikas’ is not only an electoral phrase. It is our way, says PM Modi
  • Kerala Nun Rape Case: FIR filed against Missionaries of Jesus for revealing the identity of the victim
  • BJP President Amit Shah addresses mega-rally in Bhopal, Madhya Pradesh
  • Court directs issue of notice in 19 year old murder case against UP CM Yogi Adityanath
  • The country won’t be distracted by Rahul Gandhi’s shameless lie: Ravi Shankar Prasad, Union Law Minister

Businesswire

Bajaj Finserv Announces First of Its Kind Hybrid Flexi Loan Option

by businesswireindia.com

Business Wire India
Bajaj Finserv, through its lending arm, Bajaj Finance Ltd., has announced a new feature hybrid flexi option that offer a flexibility to pay interest as EMI on Home Loan for the initial tenor. Customer can enjoy the advantage of up to four years of holiday of not paying the principal amount helping them manage their finances better. After this period the customers need to pay both the principal and interest but only on the amount utilized. Customer planning to buy a bigger house can avail this facility as they save on EMI for the initial tenor of the home loan.   
 
The Bajaj Finserv Home Loan with the hybrid flexi loan facilities can be availed by customers below 50-years for home loans of any value. This facility is available for ready to occupy properties and for refinancing of existing home loans with flexible tenors ranging up to 25 years, to fit individual’s repayment capacity. Additionally, Bajaj Finserv offers its customers an additional loan amount exclusively for furnishings & fixtures of home, making this a lucrative home loan option available in the market.
 
The Bajaj Finserv Home Loan also allows the customers to repay the principal amount using dropline repayment schedule. Furthermore, the customer can part pay, withdraw and even foreclose the loan amount without any additional charges or any pre-payment penalty.
 
An illustrative example:

A customer who takes the Bajaj Finserv Home Loan with the hybrid flexi loan facility for an amount of Rs. 50 lakh for a tenor of 20 years needs to pay only the interest as an EMI for the initial four years enjoying a principal holiday during this period. During this period, if Rs. 10 lakh is availed during principal moratorium period out of the Rs. 50 lakh loan limit, loan limit will still be Rs. 50 lakh. From the fifth year onwards, the repayment schedule converts into a flexi-term loan, for the balance 16 years. During this 16-years, the withdrawal limit reduces each month till the approved loan amount reduces to zero at the end of the loan tenor.
 
Loan Type Term Loan Hybrid Flexi
Loan Amount 50,00,000 50,00,000
Interest rate 8.40% 8.40%
Tenor 240months 240months
EMI 43075 35000 (Interest as EMI, for initial 48 months)
This is for illustration purpose only.
Source: Businesswire
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