Bajaj Housing Finance Home Loan Eligibility
OfficialAccording to Bajaj Housing Finance's own website. See the source card.
| Age | 23 to 67 years (age when the loan ends); self-employed up to 70 |
|---|---|
| Minimum income | ₹25,000 net per month; self-employed: ₹1,20,000 a year |
| Credit score | 725+ preferredOur working estimate - the lender does not publish a floor |
| Employment | Salaried or self-employed |
| Work experience (salaried) | 3 years total |
| Business vintage (self-employed) | 5 years in business |
| Funding (LTV) | Within RBI limits: up to 75-90% of the property value, depending on the loan size |
| Loan amount | ₹5,00,000 to ₹15,00,00,000 |
| Tenure | 1 year to 32 years |
| Interest rate | 7.25% to 20% p.a. |
Fees and charges
Processing up to 4% of the loan; bounce Rs 500 (loans up to Rs 50 lakh) rising to Rs 10,000 (above Rs 10 crore); no foreclosure or part-prepayment fee for individuals on floating-rate, non-business-purpose loans; 2% part-prepayment on fixed-rate or business-purpose term loans.
Documents Bajaj Housing Finance lists
- KYC documents (identity and address proof)
- Salaried: latest salary slips / proof of income
- Self-employed: proof of income such as a P&L statement, and proof of business existence
- Bank account statements for the last 6 months
- Property documents as requested during legal and technical verification
Research notes
Published on Bajaj Finserv's home-loan pages (the loans are issued by Bajaj Housing Finance): Indian residents, salaried 23 to 67 at maturity (the eligibility calculator says 65) with 3 years' work experience, self-employed 23 to 70 with 5 years of business continuity (Bajaj Housing Finance's own calculator earlier showed 25 and 3 years), CIBIL 725+ described as ideal, up to Rs 15 crore over up to 32 years. The calculator gives Rs 25,000 a month for salaried while the salaried page says a solo applicant needs 'up to Rs 50,000', so Rs 25,000 is used. Rates are 7.25% to 20% salaried and 7.70% to 20% self-employed; the Rs 5 lakh minimum and 12-month minimum tenure are our estimates.
Sources
- bajajfinserv.in/home-loan
- bajajfinserv.in/home-loan-interest-rates
- bajajfinserv.in/home-loan-eligibility-calculator
- bajajfinserv.in/home-loan-eligibility-and-documents-for-salaried-individuals
- bajajfinserv.in/home-loan-eligibility-and-documents-for-self-employed-individuals
- bajajhousingfinance.in/calculators/home-loan-eligibility-calculator