Bajaj Finserv Home Loan Interest rates in Hyderabad
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 Hyderabad
Features of Bajaj Finserv Home Loan Hyderabad
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 Hyderabad 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 Hyderabad
Hyderabad city is the capital city of the Indian state of Andhra Pradesh, in the region of Telangana.
The city has an estimated population of around 8 million, making it 4th largest city in India, while the population of the metropolitan area was estimated above 9 million. Religiously and culturally, the city is united with Hindus, Muslims and Christians.
Hyderabad is an emerging information technology (or IT) and biotechnology hub of India. Hyderabad's many epithets include the City of Pearls, the City of Nawabs, the Biryani City and, because of its high-tech draw, Cyberabad.
Hyderabad has witnessed a remarkable growth in the real estate business. A number of mega malls have come up and are being built in the city. The rapid growth of the city, along with the growth of Secunderabad and neighbouring municipalities has resulted in a large metropolitan area.
Other Cities Loan Offers
Places To Be Visited In Hyderabad
Salar Jung Museum (12 km)
The Salar Jung Museum in Hyderabad has a unique distinction as the third largest museum in India and earned a worldwide fame for its largest one-man collection of antiques. It is a home for the prized collections from different civilizations. The Museum is a royal treat for art collectors with its 43,000 art objects and 50,000 priceless books and manuscripts. The collections range from Indian Art, Middle Eastern Art, European Art, Far Eastern Art, Children Art etc.
Birla Mandir (5 Km)
The sparkling white structure visible through skyline of modern Hyderabad, Birla Mandir is located towards the southern end of Hussain Sagar Lake in Hyderabad situated atop the Kala Pahad which is a twin hillock of Naubat Pahad. The Birlas had built this temple in 1976 with white marbles procured from Rajasthan. The temple is dedicated to Sri Venkateswara. The hillock is at a height of 280-feet situated on a 13-acre plot
Golconda Fort (15 Km)
Golconda was the principal capital of the Qutub Shahi kings and a bustling centre for administration and commerce. This historical monument was constructed in the 1600’s. It was once considered to be home to a vault containing the ‘Hope’ and ‘Kohinoor’ diamonds. The inner fort has ruins of palaces, mosques and a hill top pavilion, which rises to more than 120 meters high and gives a bird’s eye view of other buildings. Golconda fort is undoubtedly one of most magnificent fortress complexes in India and it rests on a granite hill, considered an iconic monument depicting the history of Hyderabad.
Nehru Zoological Garden (24 km)
Established in 1959, Considered to be among the best zoos in Asia, the Nehru Zoological Park is home to more than 1,500 species of birds, animals, and reptiles. The zoo hosts different species such as Indian Rhino, Bengal Tiger, Mynahs, African Elephants, White Peacocks, Chimpanzees,Rhinoceros and Python are some of the attractions that make the place unforgettable.
Charminar (13 km)
Charminar is a monument and a mosque, which is synonymous with the history of Hyderabad, India. The majestic structure was completed in 1591 CE and is not only a landmark building of Hyderabad but also a famous monument of India. A must visit place for anyone who wants to treat his eyes to an architectural masterpiece, the ‘Charminar’ is shrouded by myths regarding the purpose behind its construction.
Hussain Sagar (3 km)
Built by noted Sufi saint, Hazrat Syed Hussain Shah Wali in 1526, this lake is located across an area of 5.7 sq.Km. It receives its water supply from the Musi River. Boasting of some exotic surroundings, Hussain Sagar serves as the ideal location for a tranquilising evening with loved ones.
Lumbini Park (5 km)
Maintained by the Buddha Purnima Project Authority as per the directives issued by the Telangana government is urban park was constructed in 1994. It is a dream come true for those willing to enjoy scenic beauty and that right in the heart of Hyderabad.
Jagannath Temple (10 km)
You can add a spiritual/religious flavor to your trip by visiting the ‘Jagannath Temple’ which is located in the Banjara Hills. A replica of the original temple in Puri, this sacred monument serves as a fitting tribute to the Oriya community in the city.
Falaknuma Palace (16 km)
Equipped with a lavish reception room and a library which has a roof carved from Walnut, the Falaknuma was once private property of the Nizam’s royal family. On the architectural front, it a blend of the Italian and Tudor styles. Interestingly, its last significant guest was Rajendra Prassad who visited the palace in the 1950’s.
Ramoji Film City (55 km)
The brainchild of noted film producer Ramoji Rao, this celebrated facility was certified the world’s largest film studio complex in the world by the Guinness book of world records nearly two decades ago. A host of films have been shot here. A popular tourist attraction, it boasts of some impressive features such as a full-fledged amusement park.