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Bajaj Housing Finance lowers mortgage interest rates to 6.65%
Source: IRIS | Dec 28 2021, 8:24 p.m.

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Bajaj Housing Finance, a wholly owned subsidiary of Bajaj Finance, today announced its new festive offering, with home loans starting at 6.65% per annum. RBI repo rate, and benefit from any rate cuts by the apex body. To benefit from the offer, candidates must meet the criteria below:

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

The salaried candidates must be employed by a company in the public or private sector, or a multinational, with a minimum of 3 years of professional experience. Physicians with an MBBS or above, with a minimum of 3 years post-qualification experience in a hospital or licensed healthcare provider or in their own practice, are also eligible. CAs holding a valid practice certificate and 3 years post-qualification may also benefit from this offer.

2. Must have a CIBIL score of 800 or higher

The revised interest rate of 6.65% per annum is exclusively reserved for applicants who have an exceptional credit history with a CIBIL score of 800 and above. Those with a good credit score of 750-799 may also qualify for a competitive interest rate, which would only be slightly higher. Applicants should note that their CIBIL score is one of many factors taken into account in assessing 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 who get the loans disbursed until February 25, 2022 are eligible.

Main features of the Bajaj Housing Finance mortgage

> Eligible borrowers can avail large loans of Rs. 5 crore or even more

> Borrowers with an existing home loan can transfer the balance amount to Bajaj Housing Finance and benefit from the festive offer, as well as a large additional loan of Rs. 1 crore or more

> Borrowers can benefit from external mortgage loans linked to a benchmark index, which allow them to 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 of choosing a repayment term of up to 30 years

> People eligible for the PMAY scheme can benefit from interest subsidies of up to 6.50%

> Individual borrowers with variable rate home loans have the option of prepaying or seizing their loan at no additional cost

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

> Borrowers can benefit from the most advantageous conditions on more than 5,000 approved projects

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