A "low interest" loan shouldn't mean you have very little interest in paying it back!
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  • Bajaj Finserv Home Loan is Rated as "Pretty good" by 24 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN
    rated 3.5/5.0 by 24 users

    Bajaj Finserv Home Loan

    Bajaj Finance Ltd. is one of India’s most diversified and leading finance companies offering various types of loans. Among its product offerings are the company’s very attractive home financing solutions. These home loans are made available to different customer categories, promising very affordable interest rates along with a number of other attractive features such as partial prepayments and zero foreclosure costs.

    Key Features

    • Substantial loan amounts and long loan tenures.
    • The ‘Home Loan +’ scheme which lets customers avail a loan that finances both, the purchase of their homes as well as the cost of interior fittings.
    • Interesting refinancing options whereby customers can borrow to finance self-funded properties.
    • Prepayment facilities
    • The ‘Flexi scheme’ under which borrowers can prepay and borrow on prepaid amounts.
    • Flexible EMI options
    • Online access

    Bajaj Finserv Home Loan Interest Rate:

    Since Bajaj Finserv is not a bank, the Marginal Cost of Funds-Based Lending Rate (MCLR) is not applicable to its loans. The interest rate at which the company offers home loans to salaried individuals currently is 8.50%.

    Eligibility

    These loans are designed for the salaried and self-employed and businesses.

    Key eligibility criteria revolves around customers being adequately able to repay their borrowing. This reflects on their financial stability in terms of age, earning power, employment, creditworthiness and other such important factors.

    Those who satisfy the company’s requirements are offered attractive loan amounts, as low as Rs.30 lakhs and as high as around Rs.15 crores.

    Documentation

    Paperwork required to process these loans depends on the customer-category. Broadly, documentation relates to valid proof of self (identification), income, age, address, employment/source of income, financial soundness in the form of bank/income statements etc. These are required to be submitted along with the duly filled application form with attached photographs.

    Why Choose these Home Loans?

    Among the many reasons one would opt for these loans are the following:

    • Very attractive rates of interest

      The company offers very affordable rates that compare favourably with peers of the same product category. Loan rates can be fixed or floating.

    • Substantial loan amounts

      High loan amounts ranging between Rs.30 lakhs and Rs.10 or 15 crores are offered allowing customers to finance a range of properties.

    • Comfortable loan tenures

      Long loan tenures ranging up to 20 or 25 years are offered making repayment affordable.

    • Flexibility

      Loan repayment is easy and structured according to the customer’s quantum and tenure of borrowing.

    • Partial Prepayment facility

      Part prepayment is allowed to let customers reduce their debt burden when in the money.

    • No charges on foreclosure

      A cost-efficient proposition allowing customers to close their loans with ease.

    • Superior customer service:

      Customers receive superior all-round service making the entire loan process quick, seamless and easy.

    FAQs

    Will loan amounts and tenures differ between salaried and self-employed applicants?

    Yes, caps on loan amounts and loan tenures vary depending on the type of applicant.

    Is loan sanction and disbursement the same?

    No, the processes are separate for loan sanctioning and disbursement.

    When is the processing fee to be paid?

    It is to be paid at time of application when submitting a duly filled application form.

    How long will the company take to sanction?

    Loan sanctioning occurs when the application is received, eligibility criteria is satisfied, required paperwork is processed and due verification is carried out.

    Can an application be made jointly?

    Co-applicants are allowed when applying for a home loan.

    How can EMIs be paid?

    EMIs can be paid through ECS/auto debit or post-dated cheques.

    Will EMIs remain the same till maturity?

    Customers are offered the option of paying higher EMIs to repay their loan faster. If interest rates rise and EMIs are based on floating rates, then EMIs can increase (or vice-versa).

    *This article is provided only for consumer information on an as is where is basis and BankBazaar does not claim or represent to be connected with Bajaj Finance Limited. For further information about any of the products mentioned above please contact Bajaj Finance Limited.

    News About Bajaj Finserv Home Loan

    • Affordable Home Loans by Bajaj Finserv this Festive Season

      Are you thinking of applying for a home loan? Bajaj Finserv is offering home loans lowest interest rates this festive season. All home loan applicants who are willing to take up loan of more than Rs.25 lakh will get 50% waiver on loan processing fees. In addition to that, people who apply for loans above Rs.75 lakh will get it at an interest rate of 8.35%.

      What makes it even more attractive is that, Bajaj Finserv offers this home loan that’s hassle free, easy, and convenient. All you have to do is, check your eligibility online, calculate your EMI through the home loan calculator, and choose the flexibility of tenure you wish to opt for.

      Once you clear all these criteria, the loan will be approved to you within 5 minutes and you will have to just provide minimum documents such as identity proof, address proof, income details, and bank statement. Bajaj Finserv makes your job easy by sending the bank representative your convenient location.

      18th September 2017

       
    • Bajaj Finserv targets Rs 2000 crore to give up as a Home loan till 2016

      Bajaj Finserv is all set to disburse the Home loan amount of Rs 2000 crore to the affluent and super affluent class of the society till March, 2016. Bajaj Finserv is considering Self-employed individuals along with the affluent salaried class in its home loan business as per the following numbers. It aims to deliver an average home loan amount of Rs 1.2 crore to 1.3 crore for a self-employed individual and an average Home loan amount of Rs 75 lakhs to Rs 80 lakhs for an affluent salaried individual. To facilitate this venture, Bajaj Finserv is aiming now to open a separate subsidiary for its home loan product to enjoy all the benefits given to the Housing Finance Company. For this purpose Bajaj Finserv has already laid down a seed capital of Rs 10 crores and would fall under the regulation of National housing Bank.

      22nd September 2014

       

    Bajaj Finserv Home Loan Reviews

    • Bajaj Finserv Home Loan
      "Very bad service "
      0.5 0.5/5 "Unacceptable"
      I had very bad experience with Bajaj finanace service. The Manager Abhilash, is not worth to be a Manager, He does not have basic ethicate to respond phone and to reply to email. The executive makes commitment and they do not keep there commitment and when the customer care is contacted they say they cannot do any thing from there side. They force you to contact a manager, who does not respond.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 20, 2017
    • Bajaj Finserv Home Loan
      "Not bad "
      0.5 3.5/5 "Pretty good"
      My home loan was taken with BAJAJ FINSERV 1 year back . The loan amount was 11 lakhs taken for 4 years . The rate of interest was 9% which was bit high than other banks in the market. The customer service and responses was satisfactory . The processing few as 15,000 including Insurance and pre closure is after 6 months here . My experience was not bad overall.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 18, 2017
    • Bajaj Finserv Home Loan
      "Fraud from Bajaj Finserv lending Home Loan With TopUp"
      0.5 1.0/5 "Really Bad"
      I am completely fedup with services of Bajaj finserv. They are cheater and fraud company. I have applied for Home loan with top up in Bajaj Finserv. They debited Loan amount of Rs.1028368 and Rs.284360 (Account 401SHO42311520 / 401SHO42311507) to me on 19th Jun 2017 but physically received both cheque of Rs.1028368 and Rs.284360 on 18 July 2017. There is an almost one month broken period. There was their internal problem that is why this delay happened. I am not responsible for this delay. Same thing happened with Top up loan, As per account statement, amount is debited to me on 18 Aug 2017 but amount credited to my bank account of Rs.1019583 on 17 Oct 2017 (Account 401SHO48137544). There is an almost two months broken period. They are cheater as I am not aware when they got signed on Interest Bearing certificate" from me. They never told me about this form. It almost 4 months passed, I did not get any resolution of this.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 13, 2017
    • Bajaj Finserv Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am impressed with the services of Bajaj Finserv as they are very straight forward in their services. They do not keep the customer to wait for an update. I have taken a home loan from them and my process was excellent. The rate of interest and processing charges are normal. I had also applied for a personal loan earlier and I got the status of my application on that same day.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 08, 2017
    • Bajaj Finserv Home Loan
      "Great response"
      0.5 5.0/5 "Blown Away!"
      I recently transfered my current Home Loan to this Financial Institution as I felt Bajaj Finserv have been outstanding with their services. They readily provided me with the Personal Loan and then easily transfered that Loan as a top Loan to my Home Loan. It was all pretty impressive that they did.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 06, 2017
    • Bajaj Finserv Home Loan
      "Worst loan provider "
      0.5 0.5/5 "Unacceptable"
      Bajaj finance is a cheater, no professional way of working and I am still struggling to get a response as they commited interest rate which they are not honouring . Additional 1.5 lakhs of insurance barged which I never accepted overall very in professional way of working
      Was this review helpful? 0
      , chennai
      Reviewed on Oct 07, 2017
    • Bajaj Finserv Home Loan
      "Good place for home loan"
      0.5 5.0/5 "Blown Away!"
      From Bajaj, the interest rate for the home loan is 17%. To complete the process, it will take minimum a day and maximum one week but not more than that. They used to verify all the documents and mainly the credit score. But there is no extra charges are there with Bajaj. They simply focus on customer satisfaction.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 30, 2017
    • Bajaj Finserv Home Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      My home loan was approved within minutes by Bajaj Finserv. The customer services are good and the overall experience was nice. I been a very long time customer of this company and I have always got the best of services. The interest and rate and charges are normal.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Aug 14, 2017
    • Bajaj Finserv Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I earlier had my home loan at Bajaj Finserv and the process was good. But they are a bit high on the interest rate and charges. When I contacted them to reduce the same they were not flexible in supporting though I informed them that I would be transferring my loan to another bank. The interest rate was 9% and more.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 10, 2017
    • Bajaj Finserv Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Customer service was very fast and quick response.Within 3 days documentation was completed Interest rates they have charged me around 10.4% . The loan amount I have applied was for 20 lakhs I received the full amount and the tenure was for 10 years.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 03, 2017
    • Bajaj Finserv Home Loan
      "Good. Can do better"
      0.5 3.5/5 "Pretty good"
      My home loan is from Bajaj Finserv. I am happy that they offered me a loan of 31 Lakhs. But the coordination during the process was not up to the mark. I expected the documentation process and the terms and conditions to be completely done at one shot. I had to submit the paper work one after the other and due to which the loan disbursement was delayed. The rate of interest was of 8.5% and there was a processing charges totally of 25K. There is a part payment option too.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 24, 2017
    • Bajaj Finserv Home Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      I appreciate the services and approach of Bajaj Finserv for the home loan. They were very attentive and also very flexible and negotiable on the processing charges. The information was clear and there were no other charges taken. They came in terms as per my requirement, it clearly showed that they value a customer.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Mar 04, 2017
    • Bajaj Finserv Home Loan
      "Pathetic experience "
      0.5 0.5/5 "Unacceptable"
      To reduce the rates for the home loan they are charging me switch fee which is almost 9000. I dont know why should I pay them switch fee. If RBI has reduced the rates they should reduce it as well. They just want to buy time to process the request and dont want to reduce the rates. And on top of that extra money to reduce the rates. Never go with Bajaj FinServ.
      Was this review helpful? 7
      , hyderabad
      Reviewed on Feb 21, 2017
    • Bajaj Finserv Home Loan
      "BEST"
      0.5 4.0/5 "Great!"
      Bajaj Finserv gave the opportunity to close the mortgage loan and the previous home loan. The process was little delay but it completed smoothly. Interest rate offered for the home loan is nearly 10% . Paper works are less. The processing fee was 2% on the loan amount.
      Was this review helpful? 2
      , chennai
      Reviewed on Mar 08, 2016
    • Bajaj Finserv Home Loan
      "Good option..."
      0.5 4.0/5 "Great!"
      Bajaj Finserv has offered the better rate of interest for the home loan and I did balance transfer. Overall the whole process took a way long period and that is the only issue that I had faced. Customer service is satisfactory. Processing charge is high.
      Was this review helpful? 4
      , pune
      Reviewed on Feb 25, 2016
    • Bajaj Finserv Home Loan
      "Flexible..."
      0.5 4.5/5 "Excellent!"
      Bajaj Finserv has offered the home loan with least processing charge and sanction loan amount is high. Over draft facility is there in Bajaj for their clients. Interest rate is average amongst the industry. They are flexible with their customers.
      Was this review helpful? 4
      , ghaziabad
      Reviewed on Dec 09, 2015
    • Bajaj Finserv Home Loan
      "Bit complicated"
      0.5 3.0/5 "Satisfactory"
      Bajaj finserve housing loan is the good. The only thing is the turn around time is not that good. They have offered the loan before 6 months. Interest rate is good iss competitive. There was some difficulties the legal papers were quite difficult and some how I managed it.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 23, 2015
    • Bajaj Finserv Home Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      My home loan was disbursed by Bajaj Finserv within 20 days with the rate of interest 9.75% and the processing fee was same comparing with other banks.The required documents were mentioned on the website it self so the process went on smoothly.
      Was this review helpful? 5
      , pune
      Reviewed on Sep 04, 2015
    • Bajaj Finserv Home Loan
      "Don't go for this loan if you have an option"
      0.5 0.5/5 "Unacceptable"
      Interest rate will be very different from what they advertise and will be very higher compared with other banks. The advertised rate will be only for couple of months.Their customer portal is worst and has no information of use. Their feedback mechanism is worst. No one follows up after the loan. Although no hidden charges they insist to sign for Bajaj home insurance policy along with the loan before disbursal.
      Was this review helpful? 12
      , bangalore
      Reviewed on May 22, 2015
    • Bajaj Finserv Home Loan
      "Poor Support and worst customer handling"
      0.5 0.5/5 "Unacceptable"
      Hi, Don't believe this financial institute. moreover this is not a normal one... third party daily interest local shop ...while foreclose the loan they will not have any policy which will take 30days to provide the documents. even if your have any technical fault or problem on their system side... will inform you to pay the additional interest charges even though your other bank cheque passed to their account. So please don't believe and trust bajaj as it will spoil your life.
      Was this review helpful? 13
      , chennai
      Reviewed on Apr 09, 2015
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