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About Bajaj Finance Limited, Lending Arm of Bajaj Finserv Limited

Subsidiary of Bajaj Finserv Limited, Bajaj Finance Limited is a Non-Banking Finance Company that caters to consumer finance, commercial lending and wealth advisory services. Bajaj Finance Limited offers a well-diversified product line consisting of as much as 19 personal, housing and business loans and financing solutions for individuals and entities across the country.

Bajaj Finserv Home Loan Interest Rates in - Feb 2021

Interest rate


Loan tenure

20 Years

Loan turnaround period

8 - 15 days

Loan to value (LTV)

Get loan up to 90% of the project cost

Who can apply?

Self-employed professionals

Salaried individuals

Indian residents


Up to 4 applicants are allowed as co-applicants

Lowest EMI

 903 Per Lakh

Why Bajaj Finserv Home Loan?

Whether you want to buy a first home or purchase a more spacious abode, Bajaj Finance Home Loan offers a diversified range of housing and mortgage products to exactly meet your requirements. Right from a low segment loan aspirant who seeks a Home Loan subsidy under PMAY to the one who is prequalified for a big ticket loan, Bajaj Finance extends a bespoke credit line for individual financing needs.

Bajaj Finance provides value to customers by offering:

  • A wide range of home loans starting from 30 Lakhs to 3.50 Crores.

  • Extremely competitive rates of interest; both fixed and floating rates are available.

  • Extended home loan tenure up to 20 years depending on age and eligibility.

  • Low processing fees.
  • Minimal paperwork.
  • No charges on prepayment/part payment or foreclosure of the home loan.

  • Flexibility in the repayment of interest and principal amounts.

  • Income tax concessions.

Features and Benefits of Bajaj Finserv Home Loan

  • Bajaj Finserv caters to an extensive clientele pan India. Home Loans are available for 30 Lakhs to .5 crore for both salaried as well as self-employed individuals.

  • A borrower can use the funds for purchasing a ready to move house/ flat, property under construction, buy second-hand houses or apartments or to fund construction from scratch on a piece of land.

  • Loans are fundamentally available for repairs, renovations, improvement, and extension of existing homes.

  • You can precisely avail Home Loans up to 85% of the project cost.

  • The NBFC also allows you to transfer your existing home loan from other banks to them.

  • You can expect attractive rates of interest on home loans with reasonable processing fees.

  • You also get flexible repayment options. There is no penalty for pre-payment and foreclosure.

  • You get the advantage of opting for a long tenure extending up to 20 years.

  • In addition to home loans, you can also avail Bajaj Finserv mortgage loans.

  • Bajaj Finserv Loan against property enables customers to cater to personal expenses such as education, marriage, and medical costs and so on.

  • You can add the name of an eligible co-applicant and improve your overall eligibility.

  • Bajaj Finserv is also an active player in the Pradhan Mantri Awaas Yojana.

  • Highly customised insurance plans are available for securing your loan.

  • And you also enjoy income tax benefits on home loan repayments!

Bajaj Finserv Home Loan Interest Rates

Interest Rate Types Applicable Rates of Interest

Promotional Interest Rate

Salaried Individuals - 9.05% onwards

Regular Interest Rate

BFL-SAL FRR - Margin = 9.35% to 11.15% for Salaried Individuals

Regular Interest Rate for Self-Employed

BFL-SE-FRR - Margin = 9% to 10.15%

BFL-SAL-FRR (Bajaj Finance Limited Floating Reference Rate for Salaried Customers)


BFL-SE-FRR (Bajaj Finance Limited Floating Reference Rate for Self-Employed Customers)



The BFL-FRR for loan cases booked before 20th June 2018 was 12.95%

Bajaj Finserv Home Loan - Processing Fees and Other Charges

Processing Charges

Salaried Persons - Up to 0.80%

Self-Employed Individuals - Up to 1.20%

Loan Statement Charges


Principal and Interest Statement Charges


EMI Bounce Charges


Penal Interest

2% per month+ Taxes

Secure Fee

One-time fee up to 9,999


Foreclosure Charges - Bajaj Finance calculates charges in the following manner

On Term Loans - On Outstanding Principal

Flexi-Interest-Only Loans - On Sanctioned Limit

Flexi Term Loan - On Current Drop Line Limit

Borrower Type and Interest Type Period Foreclosure Charges

Individual - Floating Rate

Over 1 Month


Non-individual - Floating

Over 1 Month


All Borrowers - Fixed Rate

Over 1 Month


Part-Prepayment Charges
Borrower Type and Interest Type Period Foreclosure Charges

Individual - Floating Rate

Over 1 Month


Non-Individual - Floating

Over 1 Month


All Borrowers - Fixed Rate

Over 1 Month



Minimum part-prepayment should be more than 1 EMI. These charges are not applicable for the Flexi Interest-Only Loan and Flexi Term Loan facilities.

Types of Home Loan Offered by Bajaj Finserv

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

Bajaj Finserv Flexi Hybrid Home Loan

Purpose of the Loan facility:
  • 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 finance under this product.

Features of Flexi Hybrid Home Loan

  • Bajaj Flexi Hybrid Home Loan offers dual benefit of flexi-interest and flexi-term loan in the same

  • 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.

  • The loan amount does not reduce during the interest-only

  • 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 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 Pradhan Mantri Awaas Yojana

The eligibility criteria for PMAY are similar for all banks and HFCs as it is a Central Government Scheme.

  • To be eligible for the scheme, the applicant should not have a house in his/her name in India.

  • This product is designed by the Government of India with objective to provide affordable home loans to all Indians by 2022.

  • The beneficiary family can consist of husband, wife, unmarried sons and/or unmarried daughters.

  • It is a credit-linked subsidy scheme with the maximum subsidy being 2.67 Lakhs.

  • The purpose of the loan is construction or purchase of house or flat.

  • The maximum amount of the loan is 4 times gross income with different ceilings for different categories.

  • Interest subsidy is available for a maximum of 20 years. The interest subsidy is an upfront subsidy.

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.
  • Get the benefit of the 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.

Bajaj Finserv Home Loan - Documents Required

  • Bajaj Finserv accepts the standard documents as listed below:

    Nature of Documents Standard List of documents acceptable everywhere

    KYC Documents - Address Proof

    Passport, Aadhar Card, Driving Licence, Registered Rent Agreement, and so on

    KYC Documents -Identity Proof

    Passport, PAN card, Voter?s ID, Driving Licence, Aadhar Card


    One each of all applicants

    Income Proof - Salaried

    Salary Slips or Form 16

    Income Proof - Self-Employed

    IT Returns, Financial Statements

    Bank Account Statements

    Previous 6 months Statements

    Proof of Business

    Partnership Deed, Memorandum of Association, Articles of Association, GST Registration Certificate


    Also, you are required to submit property documents besides the documents listed above.

Bajaj Finserv Home Loan Eligibility Criteria

  • Salaried individuals between 23 and 62 years of age are eligible for Bajaj Finance Home Loan. In case of self-employed individuals, the eligible age group is 25 to 70 years.
  • The maximum age limit for Flexi Home Loans is 50 years.

  • Salaried employees should have work experience of a minimum of 3 years whereas self-employed persons should be in business/profession for a minimum of 5 years.

  • The minimum amount of loan for salaried employees is 10 Lakhs and maximum is 3.50 Crores. Self-employed professionals can borrow up to 5 Crores

  • Minimum salary should be 25,000 in most cities in India. It is 30,000 in the cities of Delhi, Faridabad, Ghaziabad, Gurugram, Mumbai, Navi Mumbai, Noida, and Thane. The minimum property value should be 15 Lakhs.

  • The eligibility criteria for PMAY loans are different.

Particulars Economically Weaker Section Low Income Group Middle Income Group - I Middle Income Group - II

Household Income

Up to 3 Lakhs

Over 3 Lakhs up to 6 Lakhs

Over 6 Lakhs up to 12 Lakhs

Over 12 Lakhs up to 18 Lakhs

Maximum Eligibility

12 Lakhs

24 Lakhs

48 Lakhs

72 Lakhs

Eligible Amount for Subsidy

Up to 6 Lakhs

Up to 6 Lakhs

Up to 9 Lakhs

Up to 12 Lakhs

Maximum Subsidy





How to Increase Your Eligibility Amount

Determining your home loan eligibility is vital before you opt for a Home Loan. It allows you to plan the purchase of your property better. You can calculate your home loan eligibility at MyMoneyMantra for free of cost.

Core factors that determine your loan eligibility are:

  • Your income - Higher is the income, higher is the eligibility.

  • Your repaying capacity - Higher is the CIBIL Score, lower is the rate of interest.

  • Availability of eligible co-applicant - A good credit profile of a co-applicant helps to enhance your joint overall

How to improve loan eligibility?

  • Apply for the home loan early in your career. For example- By opting for Bajaj Finance Flexi Home Loan early in your career, you can choose to repay lower amounts for a maximum of 4 years. Lenders offer you wider repayment options when you are young and stable in your career.

  • You can choose a longer tenure. Longer durations help you pick smaller instalments and thus help ease pressure of repayments.

  • The addition of an eligible co-applicant having a steady source of income also increases your overall eligibility. Consider adding your spouse, parent or sibling. Also, all co-owners of the property should necessarily become co-applicants for loan.

  • You can also choose to close some of your small loans and increase your disposable income. It can help you pay a higher EMI thereby making you eligible for a higher amount.

CIBIL Score for Bajaj Finserv Home Loan

Whenever you apply for a loan, banks and financial institutions verify your CIBIL Score. Why do they do that? Your CIBIL score helps financiers to understand your credit history and repayment history. Depending on your repayment record and the number of loans you have, CIBIL gives you credibility score ranging from 300 to 900 points. The higher is your CIBIL score, the more reliable you are for the financer. Hence, it is better to have a higher score. Bajaj Finserv provides home loans to individuals with CIBIL scores above 600.

How to Calculate your Bajaj Finserv EMI

You can conveniently calculate your EMI for Bajaj Finance Home Loan on MyMoneyMantra EMI Calculator. Enter the loan amount, loan tenure, and rate of interest to get your EMI.

How Much Home Loan can I Get on My Property (LTV) from Bajaj Finance?

Bajaj Finance provides home loans in the range of 75% to 85% of the value of the property. The margin depends on the home loan product. The margins are higher in case of a loan against property.

Other Products by Bajaj Finserv

Bajaj Finserv offers the following loan products in addition to the ones described above:

Bajaj Finserv Loan Against Property

  • Both salaried and self-employed individuals are eligible to apply for Bajaj Finance Loan Against Property.

  • Being a secured loan, the purpose of the loan is not restricted. You can use funds for varied needs- ranging from financing a child's education to managing wedding expenses. Business persons can also avail this loan to expand their business. You can also use this loan to cater to your medical expenses.

  • Salaried persons between 33 and 58 years of age and self-employed persons between 25 years and 70 years of age are eligible to apply for Bajaj LAP.

  • The maximum eligibility for a salaried individual is 1 Crore whereas a self-employed person can apply for a loan up to 3.50 Crores.

  • You can expect swift disposal of loan applications within 72 hours.

  • Salaried individuals can choose a repayment period of 2 years to 20 years, while self-employed individuals get a maximum repayment tenure of 18 years.

  • Balance Transfer facility is also available with LAP.

  • You can also use Flexi Hybrid feature and pay interest only on the amount

  • Prepayment and foreclosure is accepted on a nominal charge.

  • There is a restriction on the city you reside in. Salaried individuals need to be resident of Delhi, NCR, Kolkata, Mumbai, Thane, Navi Mumbai, Pune, Pimpri-chinchwad, Ahmedabad, Hyderabad, Chennai or Bangalore; while self employed from Amravati, Aurangabad, Baroda, Bhubaneswar, Cochin, Indore, Jaipur, Jamnagar, Jodhpur, Lucknow, Madurai, Nagpur, Nasik, Raipur, Rajkot, Salem, Solapur, Surat, Udaipur, Vapi, Vijayawada and Vizag, besides the metro cities can seek the loan.


COVID19 Relief Moratorium: Bajaj Finserv Shares Easy Guidelines for Deferring EMIs

Extending Moratorium relief to its customers during COVID 19 outbreak, Bajaj Finserv Limited has also allowed its customers to opt for deferment of instalments for the months of March, April, and May 2020.Read More

Bajaj Finserv rolls out exciting offers, lowest EMIs on all products

Bringing more power to shoppers of FMCG, Bajaj Finance Limited has announced exciting deals and EMI plans for shopping of electronic products, fitness equipment, apparels and home appliances. Now customers can buy smartphones, TVs, air conditioners, gym equipment etc at no cost EMI through Bajaj Finserv EMI network. The offer is available on leading brands like LG, Samsung, Nokia, Lloyd, Oppo, Vivo, Hitachi etc at zero down-payment.

Bajaj Finserv RBL Bank SuperCard offers instant cash withdrawal with flexible repayment option

Bajaj Finance Limited has offered interest-free cash withdrawal facility for up to 50 days through a revolutionary Bajaj Finserv RBL Bank SuperCard to its customers. Apart from regular features of a credit card, the Bajaj RBL smartcard can be used as cash card, loan card, and EMI card. The customers can enjoy seamless shopping experience and use smart card for instant purchase with interest-free EMI options.

Bajaj Finserv offers HLBT with additional Top-Up loan

Bajaj Finance Limited has offered high-value top-up loans up to 50 Lakhs on HLBT or Home Loan Balance Transfer. The Top-Up offers complete flexibility to customers to resolve multiple financial requirements.

Bajaj Finance Ltd saw a huge jump in the profit for Q1FY19

On the strength of a robust home loan portfolio, Bajaj Finance Limited witnessed a jump in the net profit for the first quarter of the financial year 2018-19. The profit rose by 81% with the Assets under Management (AUM) growing by a good 35%.

Frequently Asked Questions

What is the 3 EMI Holiday in the Bajaj Finserve Home Loan?

Salaried employees get the benefit of the 3 EMI holiday offer when they avail the Bajaj Finserv Home Loan Balance Transfer and Top-Up Facility. They get a 3-month holiday after which they can commence the repayment. This three-month holiday eases off loan repayment pressure from the customer to a great extent.

Does Bajaj Finserv provide provisional interest certificate for IT purposes?

Yes, Bajaj Finserv provides provisional interest certificate for IT purposes. They provide a breakup of the principal and interest repayment for the complete financial year. Borrowers can use this certificate to claim benefits under the Income Tax Act.

Do I get income tax benefits if I take loans from Bajaj Finserv? What is the tax rebate available on a Home Loan?

Yes, you get income tax concessions under Sec 24 and Sec 80C of the Income Tax Act 1961 for your home loan interest and principal repayments respectively. You get a benefit of up to 200,000 on repayment of interest on home loans under Sec 24. Similarly, you get a concession of up to 150,000 under Sec 80C for repayment of the principal amount. First-time home buyers get additional rebates in income tax.

Does a change in the RBI repo rate affect the EMI?

Bajaj Finserv is not a banking entity. Nevertheless, the RBI rates do affect the PLR of the NBFCs and HFCs. The increase in the repo rates has an indirect effect on the PLR of such financing companies. They have to increase the rate to match up their profitability levels. Hence, a change in the repo rate affects the PLR of Bajaj Finserv. Automatically, it affects your EMI as well.

How does Bajaj Finserv calculate my home loan EMI?

Your home loan EMI comprises two components, principal and interest. Three factors go into the determination of your EMI: loan amount, rate of interest, and loan tenure.

Does my EMI change with the change in the ROI?

Theoretically, your EMI should change with the change in the ROI. However, Bajaj Finserv prefers to keep the EMI constant and increase/decrease the loan tenure. If any increase in the tenure is not possible due to various reasons, they increase the EMI.

How do I make the payment of the EMI?

There are two options for paying the EMI. The ECS is a preferred option, however you can also pay by post-dated cheques.

Where can I avail Bajaj Finserv Home Loans?

Bajaj Finserv has an extensive network of branches pan India. So, you can apply online or offline as per your preference. However online application is more convenient and hassle free. You can also apply online for Bajaj Finserv Home Loan through MyMoneyMantra. You can instantly compare different products on a single screen. MyMoneyMantra is a loan aggregator and helps you make an informed decision after accessing the best home loans based on your income and eligibility factors.

Why Apply for Bajaj Finserv Home Loan on MyMoneyMantra?

MyMoneyMantra is a one stop online research platform for locating the most affordable and bespoke home financing deals online. We bring a wide range of financial products from various banks and HFCs on a single space to help borrowers compare and choose the best product according to their specific needs.

One can conveniently calculate loan EMI using MyMoneyMantra EMI calculator and make an informed decision as per their repayment capacity. We help you complete loan application and documentation process without any hassles.

Our loan advisory services come free of cost. Our team is committed to help customers understand the Home Loan policies with sheer precision and use the funds judiciously.

How to apply for Bajaj Finserv Home Loan on MyMoneyMantra?

Applying for Bajaj Finance Home Loan is easy. After you visit MyMoneyMantra website, explore Home Loans section. Provide following details:

  • Gender
  • City of residence
  • Purpose of loan
  • City where you wish to acquire your property
  • Value of property
  • Name, email ID, employment/occupation details of applicant
  • Applicant's mobile number

After you fill the details, we will send a confirmation OTP. Entering the OTP will help you access various home loan products on our website. You can choose the loan provider as Bajaj Finserv Home Loan.

We help you compile the KYC and income documents. You can use our EMI Calculator and determine your EMI in advance. We assess your credit profile and recommend the best loan for you.

Bajaj Finance has DSAs in almost all the major cities and towns in India to collect your documents. They would collect and verify the genuineness of the documents before requesting your CIBIL report. The verification of title and evaluation of the property is the next step.

On approval, you will get the loan sanction letter. Acknowledge and return one copy of the letter to Bajaj Finserv. Now you can seek swift disbursement of the amount to your bank account.

Bajaj Finserv Home Loan - Customer Care

4th Floor, Bajaj Finserv Corporate Office

Off Pune-Ahmednagar Road,

Viman Nagar

Pune 411014

Ph No 020-30405060

Fax 020-30405020

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