Bajaj Finserv Home Loan Interest rates in Udaipur
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 Udaipur
Features of Bajaj Finserv Home Loan Udaipur
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 Udaipur 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
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IDBI Bank
IndusInd Bank
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LIC Housing Finance
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TATA Capital
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HDFC Limited
Aditya Birla Housing Finance
Capital First
Edelweiss
Indiabulls Housing Finance
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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 Udaipur
Udaipur is a royal city that had been the capital of Mewar rulers for centuries. The romantic city of Udaipur has a legend behind its origin and it goes like this. Once, Maharana Udai Singh happened to meet a holy sage when he was on his hunting expedition in the Aravalli Hills. The Sage counseled the King to establish a kingdom in the fertile valley that would be well-protected by the elevated Aravalli Hills.
Subsequently, Maharana Udai Singh laid the foundation stone of Udaipur in 1557 A.D. Chittorgarh was the previous capital of the Rajput kingdom of Mewar. Maharana Udai Singh was a successor of the Sisodias, who claimed to be the descendants of the Sun God. The Sisodias are believed to be the oldest ruling family in the World. Amongst the warrior clans, Sisodias are recognized as the most powerful ones in Rajasthan.
Another reason for shifting the capital from Chittorgarh to Udaipur was constant attacks of enemies. Udaipur continued to be the capital of Mewar, till it became the princely state of British India in 1818. When India got independent in 1947, the Maharaja of Udaipur granted the place to the Government of India. At that time, Mewar was merged into the state of Rajasthan. In the present date, Udaipur enjoys a favorable position on the maps of Rajasthan. Udaipur is known for its picturesque surroundings and its royal past. Various ancient monuments, massive palaces, architectural temples and beautiful lakes fascinate people to visit the ancient land of the Royalty.
Other Cities Loan Offers
Places To Be Visited In Udaipur
City Palace
City Palace was constructed in the year 1559 by Maharana Udai Mirza Singh. The palace is situated on the banks of Pichola Lake. The palace is a blend of European, Medieval and Chinese styles of architecture. City Palace houses 11 magnificent palaces and they were all constructed during various periods and by various rulers. The size of the palace is awe inspiring with the courtyards, terraces, pavilions, hanging gardens and a lot more. Everything about the palace is magnificent be it the architecture, the antiques inside and the exclusive paintings hanging on the walls.
Jag Mandir
A 17th century structure that stands gloriously amidst Lake Pichola on the Jagmandir Island, Jag Mandir is an excellent place to visit on Udaipur tour. Jagmandir is an impressive set of structures with the central building being called Jagmandir, which can be recognized by the marble-made elephants positioned outside. It is a three-storied structure and includes sections like Gul Mahal, an elegant façade, a Garden Courtyard and the Darikhana on its northern side, the Bara Patharon ka Mahal (palace of the 12 stones), the Zenana Mahal – a southern extension to the Gul Mahal and the Kunwar Pada ka Mahal.
Bagore Ki Haveli
Bagore Ki Haveli is situated near Pichola Lake. The 18th century construction was built by Amir Chand Badwa, Chief Minister at the Royal Court of Mewar. The Haveli became the residence of Maharana Shakti Singh of Bagore in the year 1878 and hence the name Bagore Ki Haveli. This was converted into museum retaining the royal touch to the building. The museum presents the culture of Mewar. The antique collections include the stuff used by Rajputs such as jewellery boxes, hand fans, copper vessels and so on. The massive building has over 100 rooms and looks splendid with its unique style of architecture.
Kumbhalgarh Fort
Kumbhalgarh Fort was constructed by Maharana Kumbha in the 15th century. One of the specialties of the fort is that it is the birthplace of the famous warrior and King of Mewar, Maharana Pratap. The near invincible fort is the most highest and strongest of forts in Rajasthan. The fort was a challenge to the greatest of kings. The fort stands formidably on 1180 m high ridge. The fort is protected and surrounded by a thick wall of approximately 15 kms long. This is the second longest wall in the world and the first is known the world over – The Great Wall of China.
Lake Pichhola
Another man made wonder in the city dominated by nature, Lake Pichola was created in 1362 AD. Rana Udai Singh II extended the lake in 16th century. The picturesque lake is surrounded by huge hills, magnificent palaces, temples and bathing ghats. The islands in Lake Pichola offer various tourist attractions and hence by cruising in Lake Pichola, you are sure to have a whale of a time. Sunset views are stunning. Boat cruise offers lovely views of the town, particularly in the evenings as you watch the sun go down on your eyes, you will find the city lit up. The palaces look stunning with the lights on and it is a great view from the lake.
Sajjan Garh (Monsoon Palace)
If you are partial to the beauty offered by nature more than man made wonders, you are sure to love Sajjan Garh. The palace is small but the views are stunning. The palace is not maintained well but the sunset view from here is awesome. The palace was constructed by Maha Rana Sajjan Singh in 1884. The aim of the king was to construct an observatory here to observe the arrival of monsoon as well as predict weather conditions. Owing to his untimely demise, the work was not completed. However, the views from here fascinate you beyond words. Nearly 1000 feet above the sea level, the views of Udaipur from here are breathtaking.