Bajaj Housing Finance Limited, a 100 percent subsidiary of Bajaj Finance Limited, announces an extension on its festive offer. The lender’s festive home loan interest rate, starting at 6.65 percent p.a., is now valid for eligible applicants who apply through the official website till February 28, 2022.
In an industry-first initiative, the HFC also offers a provision that allows applicants to link their home loan interest rate to an external benchmark, such as the RBI Repo Rate. Borrowers who avail of this feature stand to benefit from possible rate reductions in the future, as well as complete transparency in the rate setting mechanism.
Offer Eligibility and Terms
Open to Salaried Individuals or Professionals (Doctors and CAs)
Salaried individuals, Doctors, and CAs can apply for this festive offer. Salaried applicants should be employed with either a public or a private sector company, or a multinational organization with at least 3 years of work experience. Doctors with an MBBS accreditation or a higher qualification should also have work experience of at least 3 years with a registered healthcare provider, or in their own practice to be eligible. CAs should have a valid Certificate of Practice and 3 years of post-qualification experience to avail of this offer.
Exclusively for Those with a CIBIL Score of 800 and Higher
Bajaj Housing Finance’s festive offer is open to those with a strong credit profile and a CIBIL score of 800 or higher. The lender also offers competitive home loan interest rates to those with a CIBIL score between 750 and 799, which is only marginally higher than 6.65 percent.
Exclusive to Online Home Loan Applications
The offer is applicable only on home loan applications made through the official Bajaj Housing Finance website. Only applications completed by February 28, 2022, and loans disbursed till March 31, 2022, are eligible.
Applicable for both Fresh Home Loans and Balance Transfer
Those looking for a new home loan, as well as those looking to transfer their existing home loan from another lender, can benefit from the offer.
Key Benefits
Applicants can avail of a sizeable loan sanction worth Rs. 5 crore or higher, basis eligibility.
Interested applicants can opt for the lender’s Home Loan Balance Transfer facility and transfer their home loan balance for a more competitive interest rate. Additionally, a top-up loan worth Rs. 1 crore or higher, basis eligibility, is available.
Applicants can enjoy a digital home loan application process that is quick and hassle-free through the lender’s Online Home Loans platform and receive a Digital Sanction Letter in hand in 10 minutes.
Borrowers with floating interest rates have the option to link their home loan to an external benchmark, such as the RBI Repo Rate.
Borrowers can choose from the lender’s flexible repayment plans and opt for a loan tenor that spans up to 30 years.
Individual borrowers with a floating interest home loan can make part-prepayments or foreclose their loan at no additional costs.
Eligible applicants can avail of benefits under PMAY and get interest subsidies up to 6.50 percent.
