Bajaj Home Loan-Application Process, Interest Rates 2025
Bajaj Home Loans are gaining significant traction in India's home loan market, which is projected to reach approximately $146 billion by 2026. The Indian housing finance market is expected to experience a compound annual growth rate (CAGR) of 13-14% from FY24 to FY27. It is driven by a growing young population with rising disposable incomes and government initiatives aimed at enhancing affordable housing availability. The base for huge uptake is attributed to the rise in urbanization, property prices, and low-cost financing from various financial institutions.
As of FY24, the total housing finance credit outstanding was estimated at around ₹33.1 trillion (approximately $400 billion), reflecting a healthy growth trajectory. Bajaj Housing Finance has shown performance, with its loan assets increasing by 27% year-on-year, reaching ₹89,878 crore (about $10.8 billion) as of the latest quarter.
Bajaj Finserv stands out for its attractive interest rates and streamlined electronic application processes. The company has positioned itself effectively within the market, capitalizing on the increasing demand for housing loans. Its growth strategy includes targeting key markets that account for a significant portion of housing demand in India.
Bajaj Finserv Home Loans Overview
Bajaj Finserv is known for how it has been serving its consumers to the best of its ability and the number of home loan products it offers are available for use to satisfy every customer. If you’re buying your first home, building a new property, or taking a fresh loan, there’s a solution from Bajaj Finserv that fits your financial goals.
Key Features:
- Loan Amount: Enables borrowers to finance premium properties up to ₹3.5 crores
- Tenure: Flexible repayment terms ranging from 5 to 30 years
- Interest Rates: Offering one of the lowest in the industry starting at 8.60 percent p.a on their Earnest Account.
- Approval Time: Load Applications are processed within 48 hours.
- Digital Tools: Paperless application and document submission process
- Prepayment Options: Partial prepayments without additional charges
Bajaj Finserv offers all this with a focus on transparency and customer satisfaction and has become the name people trust when buying homes in India.
Benefits of Bajaj Home Loan
Bajaj Home Loans offer numerous advantages that make them stand out in a competitive market:
- Attractive Interest Rates: The interest rates of Bajaj Finserv ranges from 8.60% p.a. onwards and help borrowers keep their monthly repayment shackles low.
- High Loan-to-Value (LTV) Ratio: The upfront payment requirement is reduced to only up to 20% by allowing borrowers to fund up to 80% of the property’s value.
- Tailored Repayment Terms: Set up a tenure of up to 30 years to ensure your EMIs won't be exceeded and would fall in line with your financial situation.
- Minimal Documentation: Simplified digital processes reduce the paperwork required, saving time and effort.
- Top-Up Loan Facility: You can access more funds without experiencing intense documentation if you are an existing customer.
- Balance Transfer Options: Bajaj Finserv has very competitive rates that make it easy to transfer an existing loan from another lender.
With these benefits Bajaj Home Loans are designed to ensure a hassle-free experience for both salaried and self-employed borrowers.
Bajaj Home Loan Eligibility Requirements
Half the battle is won in applying for Bajaj Finserv loan through an understanding of eligibility. Types of income such as whether someone is a salaried or self employed will dictate the options users can flaunt.
- For an employed individual, you should be between the ages of 23 and 62 years and earn a minimum of ₹25,000 depending on where you live considering that you have also worked for at least three years. You should also have a good credit score which is 750 or above.
- The age criterion for self-employed individuals is 25 to 70 years with minimum annual income of ₹ 4 lakhs. Here, they need to show a business experience of at least five years and this applicant should have a CIBIL score greater than or equal to 750.
- The documents required in addition to the income proof are Aadhaar, Passport, PAN card, rent agreement or on the other hand utility bills or a rent agreement.
- Proof of income consists of bank statements, salary slips and any physical documents.
- Lastly, property related documents like sale agreement, property tax receipts/ settlement certificates and title deeds are also to be submitted.
Therefore, if these criteria are met, one certainly has a faster and hassle-free loan sanctioned time.
Bajaj Home Loan Interest Rates
Interest rates are a critical factor when choosing a home loan provider. Bajaj Finserv offers dynamic interest rates to accommodate different financial profiles.
Current Rates:
| Loan Amount | Interest Rate (p.a.) | Loan Tenure |
| Up to ₹30 lakh | 8.60% - 8.80% | Up to 20 years |
| ₹30 lakh - ₹75 lakh | 8.55% - 8.75% | Up to 25 years |
| Above ₹75 lakh | 8.50% - 8.70% | Up to 30 years |
Rates are flexible to current market conditions and borrowers can choose between a variable and a fixed interest rate.
Table: Interest Rate Trends (2021-2024)
| Year | Bajaj Finserv | HDFC | SBI | ICICI Bank |
| 2021 | 7.90% | 7.95% | 7.85% | 8.00% |
| 2022 | 8.10% | 8.15% | 8.05% | 8.25% |
| 2023 | 8.50% | 8.60% | 8.55% | 8.70% |
| 2024* *Approximate Rates based on market trends | 8.60% | 8.75% | 8.70% | 8.85% |
Bajaj Home Loan Features Comparison
To help you get better clarity on the options given by other banks, this is a look at how Bajaj Home Loans stack up with the competition:
| Feature | Bajaj Finserv | HDFC | SBI | ICICI Bank |
| Maximum Loan Amount | ₹3.5 crores | ₹3 crores | ₹4 crores | ₹3 crores |
| Loan Tenure | Up to 30 years | Up to 25 years | Up to 30 years | Up to 25 years |
| Processing Fee | 0.35% of loan amount | 0.50% of loan amount | 0.40% of loan amount | 0.50% of loan amount |
| Prepayment Charges | None for individuals | None for individuals | None for individuals | 1% on balance principal |
This comparison highlights Bajaj Finserv's edge in offering competitive rates and customer-friendly terms.
Bajaj Home Loans add an extraordinary blend of affordability, flexibility, and efficiency making it one of the best choices for homebuyers. In addition to offering diverse customer needs, Bajaj Finserv caters to a wide variety of needs, starting from attractive interest rates as low as 8.60% p.a. and high loan installments of up to ₹3.5 crores. The convenience offered by the digital application process adds fabulous features like tailored repayment terms, top-up loan facilities, and balance transfer options for the satisfaction of the borrower. No matter whether you’re salaried or self-employed, Bajaj Finserv’s transparent and customer-friendly inclusive approach makes it a hassle-free trip to homeownership. Bajaj Finserv compares well and competes favorably on critical parameters throughout the tenure, processing fees, and pre-payment charges and hence it is the trusted partner to help you realize your dream home.
FAQs About Bajaj Home Loans
Q: What is the typical processing time with Bajaj Home Loan processing?
Bajaj Finserv takes 48 hours to process a home loan application so long as all papers are submitted.
Q: What are the prepayment charges with Bajaj Home Loans?
There are no prepayment fees for individual Floating-loan customers of Bajaj Finserv.
Q: Can one take a home loan with Bajaj Finserv on a joint application with the husband/wife?
Bajaj Finserv even allows joint applications and also helps with loan eligibility.
Q: Is there a penalty for late EMI payments?
Yes, for part of the late payment, there is a penalty fee of about 2 percent of the amount due.
Q: Does Bajaj Finserv offer special rates for women borrowers?
A: Yes, women borrowers can avail of lower interest rates under special schemes.
Q: Can an individual get a Home Loan for a property that is under construction?
Yes, an individual can avail benefits of a home loan for under-construction properties, given that he/she has submitted every required document.
