Bajaj Finserv Home Loan Interest rates in Cuddalore
Bajaj Finserv Home Loan Floating interest Rates
| Up To 20,00,000 | 20,00,000 Above | |
|---|---|---|
| Salaried | 9.05% | 10.30% |
| Self Employed | 9.35% | 11.15% |
Bajaj Finserv Home Loan Balance Transfer
| Up To 20,00,000 | 20,00,000 Above | |
|---|---|---|
| All Others | 8.85% | 8.90% |
| Women | 8.85% | 8.85% |
Loan To Value (LTV) For Bajaj Finserv Home Loan in Cuddalore
Features of Bajaj Finserv Home Loan Cuddalore
| Type | Features |
|---|---|
| Processing Fee | upto 1.0% |
| Pre Closure Charges | Nil |
| Part Payment Charges | Allowed |
| Min Tenure | 1 Years |
| Max Tenure | 30 Years |
| Min Age | 21 Years |
| Max Age | 55 Years |
| Min Loan Amount | Rs.5,00,000/- |
| Max Loan Amount | Rs.5,00,00,000/- |
Bajaj Finserv Home Loan Cuddalore Charges
| Type | Charges |
|---|---|
| E M I Bounce Charges | @24.0% P.A |
| Duplicate Statement Charges | Free |
| Insurance Cover | Upto Loan Amount |
| Inspection Charges | At Actuals |
| Legal Opinion Valuation Charges | At Actuals |
| Cheque Swapping Charges | Nil |
| Bounce Cheque Charges | Rs.1000/- |
| Issue Duplicate Provisional Interest Certificate | Free |
| Issue Duplicate Interest Certificate | Free |
| Duplicate Balance Certificate | Free |
| Issue Amortization Schedule Duplicate | Free |
| Switch Variable To Fixed | 0.5% of the principal outstanding |
| Switch Fixed To Variable | 0.5% of the principal outstanding |
| Photocopy Documents | Free |
Documentation For Home Loan
For Salaried Persons
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Latest 3 months Payslips
- Job Continuity Proof
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
For Self Employed/Professionals
- Filled Application form
- Identity Proof
- Address Proof
- Last 2 years Income Tax Returns
- Professional/Self employed existence proof for more than 3 years
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
Identity Proof For Home Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Home Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Income Proof For Home Loan
- Passport
- Telephone bill (BSNL/MTNL)
- Electricity bill
- Title deed of property
- Rental agreement
- Driving license
- Election ID card
- Photo-credit card (with last two month statements)
Address Proof For Home Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Job Continuity Proof For Home Loan
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
Banking History For Home Loan
- Bank statements of latest 2 months
- 3 months bank passbook
Property Related Documents For Home Loan
- Min of 15 years of Link documents of Property
- Min 15 Years of Encumbrance Certificate (EC) of the property obtained from Govt. Authorities
- Property Sanction plan
- BRS/LRS copies (if required, any)
Bajaj Finserv Home Loan FAQ's
How to Apply for a Home Loan?
"Home Loan is the most common form of loan that exists today. Getting a Home Loan depends on factors such as income, age, employment status, assets, liabilities, and sometimes even your track record with the financial institution in question. If you’re looking to apply for a Home Loan in India and you fulfill the eligibility criteria, you can simply visit the branch, call or SMS or just apply online by filling a Home Loan online application form that will give you approval in just five minutes. Now apply for a home loan at the lowest interest rate only with Bajaj Finserv. All you need to do is fill a simple application-to-approval form online and we shall take care of the rest. "
How to Prepay a Home Loan?
You can prepay any amount (equalling to the sum of at least 3 EMIs) per prepay transaction. There is no limit on the maximum amount that you can pay towards your Home Loan part pre-payment. This is subject to your clearing of your first EMI. Further, Bajaj Finserv does not charge any extra fees in case of foreclosure of your home loan. You can conveniently prepay through our Online Customer Portal – Experia.
Documents Required for Home Loan?
"The documents required for Home Loan are – Application form, Photograph, • Identity Proof, Address proof, • Signature Proof, • Date of Birth Proof, • Income Details such as IT Returns/ Form 16 for the last 2 years and last 3 months Salary Slips, • Business Continuity Proof, • Bank Account Statements for last 3 months, • Partnership Deed and MOA/AOA. • These are indicative, and additional documents may be asked for while processing your loan. "
What is Home Loan EMI?
Home Loan EMI is the monthly payments that you would need to make in order to repay your Home Loan. In order to calculate your Home Loan EMI amount you can use an EMI calculator.
What is CIBIL report in Home Loan?
"Financial institutions assess your loan eligibility and home repayment capability before approving your Home Loan application, which is where your CIBIL score comes into play, serving as a benchmark for banks and NBFCs. CIBIL (Credit Information Bureau Limited), calculates a CIBIL or credit score depending on your credit and debt repayment history. A CIBIL score usually ranges between 300 and 900. If you have a low credit score, it’s highly unlikely that your loan application will be approved. On the other hand, a high score might get you a substantial Home Loan amount. A score above 750 is considered good as it indicates a clean credit history, which means you won’t have trouble repaying your Home Loan on time. However, the closer your score is to 900, the better your chances are of getting a higher Home Loan amount. However, apart from this, you should also bear in mind that each financial institution has their own eligibility criteria. You will need to fit these additional parameters to procure a Home Loan. "
About Bajaj Finserv
The company is currently engaged in consumer finance businesses, life insurance, and general insurance and has plans to expand its business by offering a wide array of financial products and services in India. Apart from financial services, Bajaj Finserv is also active in wind–energy generation.
Bajaj Finserv Highlights
About Other Banks
ICICI Bank
Axis Bank
HDFC Bank
Magma Fincorp
DHFL
Citi Bank
Dcb Bank
IDBI Bank
IndusInd Bank
Kotak Mahindra Bank
RBL Bank
State Bank of India
Standard Chartered Bank
Avanse
LIC Housing Finance
Fullerton
TATA Capital
Credila
HDFC Limited
Aditya Birla Housing Finance
Capital First
Edelweiss
Indiabulls Housing Finance
Religare Finvest
Yes Bank
Canara Bank
Bank of Baroda
Home Loan Can Be Used For Many Purposes Like Below
Why Home Loans?
Most of the families prefer to have their own house whether big or small. There is a significant difference staying in a self owned house than in a rented shelter. House is the most costly asset owned by middle and upper middle class families and it has emotional value. Affording own house with actual money is not always possible. Even though a person has stable income, years of savings are required to own a house in this current market. A Home loan answers the problems of those people who are willing to have their own home but do not have sufficient money to do that. You can now own your dream home by availing Home loan.
Home loan is normally for purchase of a new House/ Flat/Plot or renovation/ renewing of existing residential or commercial properties. Home loans are provided by Banks and registered finance companies. In Indian market there are several Banks/ HFCs providing Home loans at competitive interest rates. Home loan is always secured against the property that you buy. In case you are unable to repay the loan amount the lending bank will have right to take possession of the home.
In case of a Home loan entire lump sum amount will be sanctioned and disbursed initially based on the credit worthiness. You can plan your housing loan repayment tenure varying from 10-30 years and is repayable in form of EMIs. The rate of interest applicable is linked with Bank's base rate. You have a option to chose floating interest rate or fixed interest rate for the loan amount. For those who want the EMI amount to be fixed and are intending to plan their payments accordingly can opt for fixed interest rate. Those who are ready to take minimal risk and intend to avail the advantage in the long run can avail floating rate of interest. Floating rate of interest is more beneficial in the long run.
Expert Advice
Best Practices for Home Loan
Things not to do for Home Loan
Interest Rates
Other Benefits
Facts about Home Loans
The Banks/Financial Institutes takes care about the following, when you apply for a Home Loan.
Home Loan Vs Mortgage Loans
| Home Loans | Mortgage Loan |
|---|---|
| Home loan can be availed for own/purchase of new property (Home or Flat). | Mortgage loans will be provided based on already owned property. |
| Under Home Loan, loan can be availed only for purchase of new property. | There is no restriction on mortgage loan usage. It can be used for any purpose. |
| Housing Loan will be provided for max of 25 years, some banks can extend it to 30 years also. | Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India. |
| Home Loans interest will be as low as 9.95% to max of 11.5%, these interest rates will be subject to change as per market condition. | Interest rate will be very from 12% to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans. |
| Home Loan customers can be eligible for Income tax deduction of Rs 1.00 lakh on housing loan interest under section 80EE. This would be in addition to the existing tax benefit of Rs 1.5 lakh under section 24, only if the value of the property purchased should not exceed Rs 40 lakh. Also, it could result in maximum savings of Rs 30,000-31,000. | If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. However, if an individual is using it for personal end use, like marriage or medical expenses, the interest is not tax deductible as per income tax guidelines. |
| Loan can be availed up to max of Rs. 1.0 Cr under home loan, for real estate project funding it can be up to Rs. 20.0 based on the bank risk appetite. | Mortgage Loans can be avail up to Rs. 15.0 cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms. |
| There is no prepayment penalty for the housing loan customers, when the loan will be cleared by the own funds. | There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines. |
| Part pre Payments will be allowed in Housing Loans. | There were no part prepayment will be allowed for Mortgage loans. |
| Housing Loan can be availed with joint eligibility by Husband and wife or blood relatives. | Mortgage loans also avail with the joint eligibility as company and director or blood relatives. |
| You can avail max of 80% of the property value as a home loan as per your eligibility criteria. | In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property. |
| You can avail a top loan facility on your home loan. | Top up facility will be vary from bank to bank internal guidelines. |
About Cuddalore
Cuddalore is a city which is the headquarters of the Cuddalore District in the south Indian state of Tamil Nadu. Scholars believe the name Cuddalore is derived from Koodalur, meaning confluence in Tamil. While the early history of this district remains unclear, the town first rose to prominence during the reign of Pallavas and Medieval Cholas. After the fall of Cholas, the town was ruled by various dynasties like Pandyas, Vijayanagar Empire, Madurai Nayaks, Thanjavur Nayaks, Thajavur Marathas, Tipu Sultan, French and the British Empire. Cuddalore was the scene of Seven Years' War and the Battle of Cuddalore in 1758 between the French and British.
It has been a part of independent India since 1947. During the 2004 Indian Ocean earthquake,it had been subject to a number of foreign powers including the Netherlands, Portugal, France and more recently, the British. In the early 17th century the Dutch obtained permission from the ruler of Cuddalore to build a fort there, but political pressure from their Portuguese rivals forced them to abandon it. Later, the French and English came to Cuddalore for trade and business.
Places To Be Visited In Cuddalore
Padaleeswarar Temple
Padaleeswarar Temple, which is dedicated to Lord Shiva, who was also named as Padaleeswarar, is situated in Cuddalore. This temple was built during the medieval Chola and Pallava periods. It is believed that Saivism was adopted by the Saivite saint Appar at this temple.
Sea Port
Sea Port is located at the confluence of Paravanar and Gadilam rivers, which is also known as Cuddalore Port. Various ships anchor in the mid stream at a distance of about 1.6 km from the shore and the cargo is discharged and loaded through lighters.
Fort St. David
Fort St. David, located in the town of Cuddalore, was a British Fort. This fort was bought from the Marathas in 1690 by the British East India Company. The fort became the British headquarters for Southern India in 1746, and in 1756, Robert Clive was the governor of Fort St. David.
Silver Beach
Silver Beach, in Devanampattinam, is situated in the eastern side of Cuddalore and is visited by a number of travellers. The beach provides tourists an opportunity to indulge in various activities such as horse riding and boating. Moreover, the beach also houses a boat house and a children's play area. It is the second long beach on Coromandel Coast and is considered to be one of the longest sea beaches in Asia.
Natrajar Temple
Natrajar Temple is dedicated to Lord Shiva Nataraja and Lord Govindaraja Perumal and is spread over 40 acres of land. The temple showcases the Dravidian style of architecture and has beautiful sculptures engraved on the walls. It also has a gopuram, out of which the east gopuram is the oldest. One of the major attractions of the temple is the Hall of Dance. The temple was reconstructed by the Pallava king, Simhavarman.
Pichavaram Mangrove Forest
Pichavaram Mangrove Forest, which is located in Pichavaram in the Cuddalore District, is the second largest Mangrove forest in the world. It is situated around 14 km from Chidambaram and comprises 177 species of birds belonging to 41 families and 15 orders. Tourists can spot local, residents, true migrants and migrant birds in this forest including watersnips, egrets, herons, cormorants, pelicans and others.