Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
31 May, 2023 21:03 IST
Bajaj Housing Finance slashes home loan interest rates to 6.65%
Source: IRIS | 28 Dec, 2021, 08.24PM
Rating: NAN / 5 stars.
Comments  |  Post Comment

Bajaj Housing Finance, a 100% subsidiary of Bajaj Finance, announced its new festive offer today, with home loans now starting as low as 6.65% p.a. As a first in the industry, the HFC allows eligible applicants the option to link their home loan interest rates to the RBI repo rate, and benefit from possible rate reductions by the apex body. To avail of the offer, applicants should meet the below criteria:

1. Should either be a salaried employee, a doctor, or a CA

Salaried applicants should be employed with a public or private sector company, or a multinational, with a minimum of 3 years of work experience. Doctors with an MBBS or a higher qualification, with a minimum of 3 years of post-qualification experience either with a hospital or registered healthcare provider or in their own practice, are also eligible. CAs with a valid Certificate of Practice and 3 years of post-qualification can also benefit from this offer.

2. Should have a CIBIL score of 800 or higher

The revised interest rate of 6.65% p.a. is exclusively for applicants that exhibit exceptional credit history with a CIBIL score of 800 and above. Those with a good credit score of 750 to 799 can also avail of a competitive interest rate, which would only be marginally higher. Applicants should note that their CIBIL score is one among the several factors considered to assess eligibility.

3. Should apply through the lender’s official website by January 26, 2022

Only those who apply through the official Bajaj Housing Finance website from December 28, 2021 to January 26, 2022 and the get the loans disbursed till February 25, 2022 are eligible.

Key Features of the Bajaj Housing Finance Home Loan

>Eligible borrowers can avail of sizeable loans of Rs. 5 crore or even higher

>Borrowers with an existing home loan can transfer the balance amount to Bajaj Housing Finance and avail of the festive offer, as well as a sizeable top-up loan of Rs. 1 crore or higher

>Borrowers can avail of external benchmark linked home loans, which let them link their floating interest rates to an external benchmark, such as the RBI repo rate

>Borrowers also benefit from flexible repayment options, with the option to choose a repayment tenor of up to 30 years

>Those eligible under the PMAY scheme can avail of interest subsidies of up to 6.50%

>Individual borrowers with floating interest home loans have the option to prepay or foreclose their loan without any additional charges

>Customers also benefit from their online customer portal, which allows one to download SOAs, pay advance/missed EMIs, and review their repayment schedule

>Borrowers can benefit from the most favourable terms on 5,000+ approved projects

Shares of the company gained Rs 15.55 or 0.23%, to settle at Rs 6,904.85. The total volume of shares traded was 31,560 at the BSE (Tuesday).

 Post Comment
Name Email
Security Code type    into this box
Related Articles
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer