The Reserve Bank of India, in its second monetary policy meeting in June, has decided to keep the repo rate unchanged at 6.5%. This is a great relief for the borrowers who experienced a big rise in home loan interest rates within a span of 10 months, starting from May last year to February this year.
To make the most of this big decision by the RBI, prospective borrowers can take the leap and buy the home of their dreams. Diwali is approaching; therefore, a large number of financial institutions are coming up with festive offer on home loan to attract more customers. One of the options you can try out is the festive offer on home loan interest rate offered by Bajaj Housing Finance.
About Bajaj Housing Finance festive home loan
Bajaj Housing Finance has come up with a special festive home loan interest rate that starts from 8.45% p.a. for salaried individuals. This is one of the lowest home loan interest rates in the market. The special interest rate is 0.15% lower than the prevailing rate of interest.
Applicants who have a credit score of 750 or more are eligible for this special offer. However, the home loan must be approved and disbursed between 13th September 2023 and 12th November 2023 to the applicant to be eligible for this festive offer on home loan. People who avail this offer can also pay a low equated monthly instalment of Rs.729/lakh.
Features and benefits of opting for festive offer on home loan
Home loans offered by Bajaj Housing Finance come with a huge number of features and benefits that the customers can make the most of. These are listed as follows:
- Fast disbursal
Once the home loan application is approved and document verification is complete, applicants can expect to get their loan disbursed within 48 hours.
- Easy application process
Bajaj Housing Finance offers the option for customers to apply for home loans from the comfort of their homes. One can totally skip branch visits by opting for doorstep document collection and completing all the remaining steps online.
- Huge loan amount
Prospective homeowners do not need to adjust to a home that they do not like just because of the budget. With Bajaj Housing Finance, applicants can get a home loan of up to Rs.5 crore or even more, provided they meet the eligibility criteria.
- Wide range of options to choose from
Bajaj Housing Finance has a list of over 5000+ approved properties for all the prospective homebuyers out there. Therefore, while looking for a home of their dreams, prospective borrowers can go through this list as well. If they like any one of them and wish to take a home loan for it, then they can avail many added advantages like hassle-free processing.
- Long repayment tenor
Borrowers can opt for a home loan repayment tenor of up to 40 years to easily pay back without having to struggle financially.
- Online tools for better loan management
Applicants can check whether they are eligible for a particular loan amount and calculate home loan EMI before applying for a home loan. This is possible with Bajaj Housing Finance as they offer a number of online tools like eligibility calculator and home loan EMI calculator. These help in making better financial decisions.
- Customisable repayment option
Bajaj Housing Finance offers the opportunity to purchase a ready-to-move-in home or an under-construction one. Customers can customise their repayment options as they like. There is also an option available where you can pay a part of the EMI to begin with.
How to apply for home loan festive offers?
Applying for a home loan this Diwali is a piece of cake with Bajaj Housing Finance. Here is a step-by-step guide that all interested prospective homebuyers can follow:
Step 1: Visit Bajaj Housing Finance’s official website.
Step 2: Next is navigating to the home loan application form page.
Step 3: Now, the applicant needs to enter all the requisite details in the form carefully. This includes full name, contact details, employment type, income details and PIN code of area of residence.
Step 4: Finally, enter the OTP that is requested and continue with the remaining steps of the application process.
After submitting the form, Bajaj Housing Finance will take a look at it. Their representatives will contact the applicant within 24 hours. They will help with the remaining steps, such as documentation verification, so that applicants do not face any issues.
Documents required for home loan special offer
Applicants need to keep a basic set of documents handy. These will work as supporting documents for all the data the applicants provide. Here is a go-to list of all such documents:
- Mandatory documents such as PAN card and Form 60
- KYC documents like Aadhaar card, voter ID, driving license, passport and recent photographs
- Property-related documents such as allotment letter, title deed and property tax receipt
- Proof of income such as last 3 months’ salary slips and bank account details for salaried individuals. For self-employed, ITR and P&L statements and statements of primary bank accounts.
- Business proof of 5 years is applicable for both self-employed and non-professional.
- Education qualification such as MBBS or more for self-employed professionals like doctors and COP for Chartered Accountants.
Apart from all the documents discussed above, lenders might ask for additional documents during loan processing.
