Prospective homebuyers who are planning to apply for a home loan in the years 2023-24 will get relief from rising interest rates. With RBI announcing that the Repo Rate will remain constant at 6.50%, it is a great opportunity for borrowers to buy the home of their dreams.
With the festivities right around the corner, a number of financial institutions are coming up with home loan Diwali offer 2023. Bajaj Housing Finance has also come up with housing loan offers with EMI starting at Rs.729/lakh.
About the special Diwali offer on home loan
Bajaj Housing Finance, which is a subsidiary of Bajaj Finance, has come up with its festive home loan offer. Customers can now avail a home loan at an interest rate as low as 8.45%. The Diwali offer interest rate is 0.15% lower than the current home loan interest rate offered by Bajaj Housing Finance.
This special offer on housing loan interest rate 2023 is available for people with a credit score of 750 or more. The home loan interest rate offer that starts from 8.45% p.a. is applicable for salaried applicants. Borrowers can opt for this offer provided their loan is disbursed between September 13th to November 12th.
Features and benefits available for home loan Diwali offer 2023
Bajaj Housing Finance offers a wide range of features and benefits for their home loan customers. By opting for this Diwali special offer customers can make the most of the following benefits:
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Flexible loan repayment tenor
Bajaj Housing Finance offers a long tenor for EMI repayments so that borrowers can pay at their own pace. Customers can opt for loan tenor of as long as 40 years to repay their loan as per their convenience.
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Simplified application process
Applicants can apply for festive home loan in a completely hassle-free manner. They can entirely skip the branch visits and be done with the application from the comfort of their home by opting for doorstep document pick-up.
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Home loan balance transfer
Borrowers who already have an existing home loan can transfer their balance to Bajaj Housing Finance. By opting for home loan balance transfer, borrowers can get an interest rate as low as 8.60% per annum.
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Fast loan disbursal
Applicants can expect to receive their home loan disbursal within 48 hours of applying for it. This is excluding the time taken for approval of home loan applications as well as document verification.
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Completely online loan management
Borrowers get real-time access to loan-related details and documents from anywhere and at any time. By logging in to the Bajaj Housing Finance customer portal, customers can check the details.
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Customisable repayment options
Whether a person wishes to purchase a ready-to-move property or an under-construction one, Bajaj Housing Finance offers home loans for both. Borrowers can customise their repayment options. They can opt to pay only a part of the EMI, to begin with, so that they can slowly transition into the EMI repayment phase.
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Online tools for easier management
Bajaj Housing Finance offers a number of online tools for customers to evaluate their financial condition. To get a better idea as to whether a person has the capacity to repay a particular loan amount, they can use the EMI calculator. Further, to check the eligibility for a particular loan amount, the eligibility calculator can be helpful.
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Large number of approved projects
While choosing the home of their dreams, customers can take a look at the list of 5000+ approved projects. If they end up choosing from this list, then they can get some of the best borrowing terms. This includes hassle-free and quick loan processing and approval.
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Pre-approved loans
Bajaj Housing Finance also offers pre-approved housing loans for their long-standing customers. Customers who opt for their pre-approved loan get their loan disbursed in less time in comparison to normal home loans. Prospective borrowers can check whether they are eligible for a pre-approved loan by visiting the official website of Bajaj Housing Finance.
Eligibility criteria to get approval for home loan Diwali offer 2023
Prospective borrowers need to fulfil only a basic set of eligibility criteria to get approval for the Diwali special home loan interest rate. People who are planning to opt for this loan can check out the following eligibility criteria:
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Nationality
Both Indian residents and NRIs are eligible for this offer.
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Age
Applicants need to be within the age limit of 23 to 75 years. In case of salaried individuals, the upper age limit is subject to change depending on the profile of the property they choose. The upper age limit is based on the maturity date of the loan.
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Employment type
In order to get an interest rate as low as 8.45%, one needs to be a salaried individual. Self-employed individuals are also eligible for this offer; however, the interest rate applicable for them will vary.
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Work experience
Applicants need to have a minimum work experience of 3 years in any public or private sector or MNC. For self-employed individuals, a minimum of 5 years of vintage in current enterprise is mandatory.
Application process to opt for home loan Diwali offer 2023
Here is a step-by-step guide for all the prospective borrowers who are interested in taking a home loan from Bajaj Housing Finance:
Step 1: Visit the official website of Bajaj Housing Finance.
Step 2: Next, navigate to the home loan application form.
Step 3: Provide all the requisite details while filling up the form, such as full name, contact details, employment type, income details and PIN code.
Step 4: Provide the OTP that is requested and complete the remaining application process.
After Bajaj Housing Finance receives the home loan application, their representatives will get in touch within 24 hours. They will help with the remaining steps of the application process so that customers get a completely hassle-free experience.
Documents required to apply for home loan Diwali offer 2023
Following is a checklist of all the documents that applicants need to keep in handy while applying for a Diwali special home loan:
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KYC documents like Aadhaar card, voter ID, driving license, passport and recent photographs.
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Proof of income such as last 3 months’ salary slip and statement of primary account for last 6 months.
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Mandatory documents like PAN card and Form 60
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Property-related documents such as title deed, property tax receipt and allotment letter.
Apart from the documents mentioned above, the lender might ask for additional ones while processing the loan.
