Business Wire IndiaBajaj Housing Finance Limited, the subsidiary of Bajaj Finance Limited has announced that it will be offering new salaried customers home loan financing starting at an interest rate of 8.55%**. This new rate is applicable on both Home Loans and Home Loan Balance Transfers and customers can obtain financing of up to Rs.30 lakh.
Alongside cost-effective financing, customers can also benefit from top-up loans and flexible tenors.
Hassle-free financing of up to Rs.30 lakh
First-time salaried loan applicants desiring to purchase a home can now do so with a substantial loan amount, up to Rs.30 lakh, starting at an interest rate of 8.55%** only. The loan is available on simple eligibility terms. Further, individuals who are to be first-time homeowners can also benefit from an interest subsidy of up to Rs.2.67 lakh under PMAY*.
Easy balance transfers with top-up loan facilities
Customers wishing to capitalise on the cost-effective interest rate starting from 8.55%** can carry out a home loan balance transfer of their existing Home Loan to Bajaj Housing Finance Limited. Applications are processed quickly as the eligibility criteria are basic and the documents required, minimal. While carrying out a transfer, customers can avail a sizeable top-up loan for other expenses, home-related or otherwise, and thereby benefit from lower interest rates to reduce their EMIs.
Convenient repayment terms
Apart from claiming annual deductions on principal and interest repayment via Sections 80C and 24B of the IT Act respectively, new salaried customers can also make their EMIs budget-friendly by choosing to repay over a flexible tenor, spanning up to 30 years. Further, when in possession of surplus finances, individual borrowers can make part-prepayments or even foreclose their loan without incurring any additional charges.
*Disclaimer for PMAY- The parameters mentioned above are based on the scheme framed by the Government of India under the Pradhan Mantri Awas Yojana (PMAY). These are subject to change as and when there is a change in the scheme by the Government of India (T&C apply).
**Applicable for only women borrowers (T&C apply).