Bajaj Finance offers various kinds of Home Loans depending on the category of borrower, location of the property, and so on. Top products are:

Bajaj Finserv Flexi Hybrid Home Loan

Purpose: Bajaj Flexi Hybrid Home Loan is one of the popular housing products for funding a home purchase. You can use the funds to buy a new or owned house or apartment.

Eligibility for the Flexi Hybrid Home Loan facility:

• Loans available up to 85% of the project cost.
• You get the advantage of an extended repayment period up to 20 years.
• Loan quantum available up to 3.50 Crores.
• Salaried, self-employed, and business persons can apply for Bajaj Finserv Flexi Hybrid Home Loan.
• Age of the borrower should not be over 50 years.
• Properties under construction are not eligible for financing under this product.

Features of Flexi Hybrid Home Loan

• Bajaj Flexi Hybrid Home Loan offers dual benefit of flexi-interest and flexi-term loan.
• You can withdraw from the part-payments you make. In short, it is akin to the overdraft loan facility that many banks offer.
• You pay only the interest during the initial flexi-interest period.
• There is no restriction on the repayment of principal amount.
• There are no fees for part payment or even foreclosure of the home loan.
• You just need to pay nominal maintenance fees at the end of each year to enjoy the benefits of the hybrid flexi loan.

Benefits of the Flexi Hybrid Loan

• You get a principal holiday period of up to 4 years
• As you pay the interest alone during this period, you can manage your finances better.
• You can make part payment and withdraw instantly.
• There is no limit on the number and amount of part payments you make.
• As you keep making part payments, the chances of default are minimal.

Bajaj Finserv Home Loan – Normal

• This is the standard home loan product by Bajaj Finance and you can use funds for construction of houses or buying apartments under construction or new or second-hand homes and flats.
• The minimum age for applying loan is 25 years, and the maximum age at maturity of the loan should be 70 years. However salaried employees must be between 23 and 62 years of age.
• The minimum amount of loan for a salaried individual is 10 Lakhs. The maximum quantum of a loan under this product is Rs 3.50 Crores.
• Self-employed professionals like doctors and CAs hold higher eligibility of 5 Crores.
• The maximum repayment tenure is 240 months (20 years).

Bajaj Finserv Home Loan Balance Transfer

• Transfer your existing loan from any bank or HFC to Bajaj Finance to avail the benefit of lower interest.
• Get extended repayment tenures depending on your age and eligibility.
• Ensure that the repayment in your existing loan is in order.
• Salaried individuals get the benefit of 3 EMI holidays.
• Pre-payment and foreclosure allowed without any penalty.
• No hidden charges involved.
• Get the benefit of flexi-hybrid loan (if the borrower is under 50 years of age).

Bajaj Finserve Top-Up facility

• Customers availing Home Loan Balance Transfer facility are eligible for the Top-Up home loan. Only salaried employees are eligible for the Top-Up facility.
• The maximum amount of Top-Up available is 50 Lakhs, subject to eligibility norms and availability of adequate security (LTV norms).
• Use it for a variety of expenses such as medical, education, marriage, and so on.

Additional Info: Also check DDA Housing Scheme