Bajaj Finserv was created in April 2007 as a consequence of a demerger from Bajaj Auto Limited to focus on financial services. As a result of the demerger, Bajaj Finserv independently runs the business of lending, protection and savings. It is the holding company of the Bajaj Group for business dealing related particularly to financial services. It is India’s most diversified NBFC. The customers can get instant approval on loans
Bajaj Finserv home loans provides various home loan options starting at just 6.75% interest rate. The charges and fees are structured in such a way that the customers can lower their EMIs to INR 649/lakh. Bajaj Finserv offers easy and hassle-free home loan options at low interest rates. The customers have a large choice of plans and features to pick from, so that they can find one that meets their needs and requirements. These home loan options are tailored to the needs of different types of customers, ensuring that everyone gets the most out of the options. Bajaj Finserv home loan EMI calculator further reduces the difficulties of the people by making the most crucial calculations easy. The home loan EMI calculator provides the exact total amount payable and the EMI amount with just a click.
Bajaj Finserv home loans is the one stop solution for the ones who are planning to buy, renovate a house or construct one. With its minimum documentation, smooth process of providing loans and affordable interest rates, Bajaj Finserv home loans stands out from the rest. Some key features of the home loan options offered by Bajaj Finserv are:
Salaried as well as self-employed people can apply for a home loan from Bajaj Finserv and can use it to fulfil their dream of owning a beautiful home. The basic requirements for applying for a home loan are divided into two categories:
Bajaj Finserv home loans is widely known for its reasonable and affordable interest rates. Bajaj Finserv Home loans aims to provide loans at the least possible interest rate so that their customers do not find any kind of difficulty in achieving their dream of owning a house.
Current Home Loan interest rates
|Employment type||Product||Rate of interest|
|Salaried Individuals||Home loan||6.75%|
|Home loan balance transfer||6.75%|
|Home loan top up||7.75%|
|Self-employed individuals||Home loan||8.50%|
|Home loan balance transfer||8.50%|
|Home loan top up||9.00%|
The extremely low interest rates offered by Bajaj Finserv is the main feature of their home loans that attracts the maximum people to avail a from them.
Bajaj Finserv home loans offers their customers the EMI calculator to know about their monthly instalments and the total interest payable on their home loan easily without having to indulge themselves in complicated calculations.
The customer can select the tenure of up to 20 years with the rate of interest starting at just 6.75% to know about the EMIs that perfectly suit their repayment ability. This tool makes the planning of repayment of home loan much better and efficient.
The customer has to follow the given steps to calculate the EMI using the home loan EMI calculator:
The home loan calculator uses the given formula: E= [P*R*(1+ R) ^N/(1+R)^ N-1]
For example: If the loan amount is set to INR 10 lakhs, the tenor is set to 1 year and the rate of interest is set to 1 percent, then the home loan calculator will give the customers the following results:
|Total interest payable||INR 5424|
|Total payable (principal + interest)||INR 1005424|
|The EMI amount||INR 83785|
Similarly, if the loan amount is set to INR 20 lakhs, the tenor is set to 2 years and the rate of interest is set to 5 percent, then the home loan calculator will give the customers the following results:
|Total interest payable||INR 105827|
|Total payable (principal + interest)||INR 2105827|
|The EMI amount||INR 8743|
The customer can get the total interest payable, total amount payable and the EMI amount on the Bajaj Finserv site itself without having to doing any calculations themselves.
Bajaj Finserv home loan EMI calculator helps the customers in deciding that whether they can afford financial commitment of a home loan in the long run. The customer can increase or decrease the EMI amount according to his/her home loan amount and the time period for which the customer will be paying the equated monthly instalments.
The following factors affect the home loan EMI of the customer:
Some of the ways to reduce home loan EMI are:
Having one’s own home gives a proud feeling. The sense of belonging, starting a new chapter of life and to make memories in a place that one can name “mine” is very special for everyone. Bajaj Finserv Home Loans is working hard to deliver the most convenient home loan at the lowest possible interest rate to their customers so that they can have an experience of owning a house. They even ensure that the customer’s home-buying experience is as trouble free and smooth as possible.
After they have received an application for home loan along with the necessary documents, they follow the following steps:
On completion of the above-mentioned steps, Bajaj Finserv home loans starts the disbursement of the home loan.
If the customer’s mailing address is the same for which the loan has been availed, then the customer can update the mailing address by using any of the following ways:
If the customer’s new mailing address is not the one for which the loan has been availed, then the customer would have to visit Bajaj Finserv in person at the nearest branch. The customer should carry original and self-attested copy of the new address proof along with photo identity while visiting the office.
Bajaj Finserv offers two ways to their customers to make their EMI payments:
The fees paid by the customers when they foreclose their home loan are known as foreclosure charges. When customers on floating rates choose to foreclose on their loans, Bajaj Finserv does not levy a fee. For all borrowers on fixed rates and non-individuals on floating rates, the charge is 4% plus relevant taxes.
It is the benchmark reference rate. Internal FRR is determined according to the market conditions and also the cost of funds for the company. The changes are subject to the different external factors and economic conditions.