Just as we stepped foot into the new year, leading home loan lender Bajaj Housing Finance Limited announced a drop in their home loan interest rates, now starting from 6.65%* p.a. for applicants who meet the HFC’s eligibility criteria. This news was received with open arms as aspiring homebuyers now have an extra nudge to make their dream of owning a home come true. 

The lender’s new festive offer makes way for affordable borrowing without burning a hole in your pocket. The offer only gets better as borrowers also have the option to avail of the Repo Rate linked home loans – an industry-first initiative that can pass on the direct benefit of lower interest rates when the market conditions are favourable. 

While the prospective borrowers stand to gain a lot from these festive offerings, they must also make sure that their application is of top-notch quality and is approved with the most compelling lending terms. To ensure that your application is not rejected, we recommend doing thorough research of what the lender’s expectations are and how you can meet their desired eligibility criteria. 

The Bajaj Housing Finance Limited Eligibility Criteria 

The housing finance company boasts of an easy to meet eligibility criteria that is fuss-free and straightforward. However, all eligible applicants are expected to meet these, in order to avail of their home loans, complete with competitive interest rates and lending terms. Your ability to meet the eligibility asks assured the lender of your creditworthiness and is more likely to get you the best home loan deal they have to offer. To better the quality of your application, you must make sure that you’re able to score high on the lender’s eligibility requirements. 

Here are some things you must bear in mind before you apply. 

1. Application Open to Salaried and Professional Applicants: Both salaried and professional individuals can avail of home loans starting from 6.65%* if they meet the eligibility criteria. The HFC requires that salaried applicants have a minimum of 3 years of work experience in a public or a private sector firm, or a multinational organisation before they make a home loan application. Professionals must also have a valid Certificate of Practice and at least 3-year long work tenure in their respective fields to be considered for the home loan. 
2. CIBIL Score of 800 and Higher: One of the first things any lender evaluates is the applicant’s credit score, and in this case, home loan applicants must have a CIBIL score of 800 or higher to be eligible for the festive offer. Your CIBIL score speaks for your creditworthiness and helps your lender assess your repayment capacity. The higher the CIBIL score, the better are your chances of being approved for a sizeable loan amount with a low home loan interest rate. 
3. Offer Valid Only on Digital Applications: Another important aspect of this festive offer is its emphasis on the digitisation of the home loan application process. To encourage more online applications for the safety and ease of applicants, this offer is extended only to those who apply through the Bajaj Housing Finance Limited website. The last day to make your application is 26 January 2022, and the offer will be valid on loans that are disbursed till 25 February 2022. 

Use the Home Loan Calculator to your Advantage 

Before you make your formal application for a home loan, you must have a repayment plan handy. It allows you the foresight into the future of your finances before you undertake a commitment of the size of a home loan. By knowing exactly how much you will have to pay back through the course of your loan tenor, you can adjust your desired loan amount to a number that won’t throw your financial goals into a fix.

The Bajaj Housing Finance Home Loan Calculator enables you to do all of this and more. The online calculator tool is designed to ensure maximum user-friendliness, and even lets you toggle with your desired interest rate, loan amount, and loan tenor – showing you many possible repayment schedules, based on what you choose. The functionality of this tool ensures that you have near-accurate data and an error-free approach to your repayment schedule. 

How to apply for a Bajaj Housing Finance Limited Home Loan 

The application process for the Bajaj Housing Finance Limited Home Loan is designed to be easy to follow, and easy to complete – a journey that takes no longer than 48 hours* to complete from the time of loan approval to loan disbursal. 

1. Visit the lender’s official website and fill in your basic details including identity, income, and address details 
2. Select the desired loan amount tenor 
3. Check for pre-approved offers tailored for you 
4. Collect your Digital Sanction Letter 
5. Upload documents per the instruction of your loan manager 

By embracing all the above methods, you can get yourself a home loan deal that is easy on the pockets and make great savings on your interest outflow. If you are looking for a home loan, consider borrowing from Bajaj Housing Finance Limited, which offers a sizeable loan amount worth Rs. 5 Crore* or more, to eligible applicants at a nominal interest rate. To see their offerings, visit their website today.

*Terms and conditions apply. For a complete list of terms and conditions, visit the lender’s official website.