Home Loan - Bajaj Housing Finance

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Type of Employment SalariedSelf-Employed

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Applicant details

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Type of Loan :
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Home Loan Eligibility Criteria

It is important to check the Home Loan eligibility criteria, so you can maximize your chances of approval. Our criteria vary on the basis of employment type.

Eligibility Parameters Salaried Self-Employed
Nationality Indian (Non-NRI) Indian (Non-NRI)
Employment Minimum 3 years of work experience in a public or private sector company, or an MNC Minimum 5 years of vintage in the current enterprise
Age 23 to 62 years** 25 to 70 years**
Place of Residence Must reside in one of the cities we operate in Must reside in one of the cities we operate in

Home Loan Document Checklist

To complete your application, you will need to submit supporting documents for the personal, employment, income, and financial information you have mentioned on the form.

Personal

KYC documents – Photo ID (Aadhaar Card, PAN Card, Voter ID, Driving Licence, etc.), residential proof (utility bills, Ration Card, Passbook, etc.)

Income

Salary slips – 3 months (salaried applicants, salaried professional applicants), proof of business (self-employed professional, non-professional applicants), etc.

Qualification

Education certificates – MBBS and above (self-employed professionals – doctors), valid COP (self-employed professionals – CAs), etc.

Financial

Bank account statement – 6 months, ITR, P&L statement (self-employed professional, non-professional applicants), etc.

Property related

Title deed, property tax receipts, allotment letter, etc.

Note: Additional documents may be requested at the time of loan processing.

Home Loan FAQs

A home loan is a financial solution that enables individuals as well as entities to borrow funds for the purchase or renovation of a residential or commercial property. Our interest rate starts from 8.60%* p.a. for salaried and professional applicants.

Housing loans are secured loans, wherein the property to be purchased serves as the collateral against the loan amount. A certain extent of the property ownership remains with the lender, until the repayment amount has been repaid with interest.
Housing Loan processing fees refer to the main fee charged with every loan application. It is the amount the lender charges to process your application and extend funding. The fee varies from lender to lender and person to person. We charge a processing fee starting from 0.25% to 7.00% of the loan amount.
You borrow funds at a predetermined interest rate and agree to pay the sum (principal) back, with interest, over a predetermined time frame (tenor) through equated monthly instalments (EMIs).
The Repo Rate is an instrument used by the RBI to control lending and, ultimately, inflation in the Indian economy. Thus, a repo rate linked Home Loan where your interest rate is linked to the repo rate. It offers you more transparency in the rate setting mechanism and better transmission of benefits in favourable market conditions.
When you apply through our Online Home Loan application form, you can get a sanction letter in 10 minutes. The form is a DIY journey that allows you to avail of a digital sanction letter by submitting basic details and paying a nominal fee.
When availing of a home loan jointly, you can apply with your parents, spouse, children, or siblings as co-applicants. A few relationships are exceptions here, including married daughters and parents.
Depending on the end-use and application type, one can choose from a variety of Home Loans, including:

Fresh Home Loan
Home Loan Balance Transfer
Home Loans for Professionals
Home Renovation Loan
Yes, home loan borrowers can claim tax benefits under several exemption sections.

Section 24(b) – Up to Rs.2 Lakh p.a. (on interest)
Section 80C – Up to Rs.1.5 Lakh p.a. (on principal)
The exact minimum salary required for House Loan can vary as per the location. Prospective borrowers should be able to showcase a minimum of Rs.30,000 as their monthly income to be considered for a Housing Loan.
Yes, you can avail of two Home Loans at the same time, depending on your eligibility. Your financial, income, employment, and credit profile will define whether you are in a position to service another loan and, subsequently, if you should be offered another sanction.