Most Indians rely on a home loan to make their dream home a reality. High real estate prices have almost made home loans a necessity for most people in the middle income segment to be able to afford a home of their own. Of course, the tax advantages that accompany such a loan commit […]
Most Indians rely on a home loan to make their dream home a reality. High real estate prices have almost made home loans a necessity for most individuals in the middle income segment to be able to afford a home of their own. Of course, the tax benefits that come with such a loan make the commitment all the easier.
But the one thing that has remained a key issue is the process associated with getting a home loan. Traditionally, applying for a loan was time-consuming and tedious, requiring endless paperwork and multiple branch visits.
The growing adoption of technology and the outbreak of the COVID-19 pandemic has prompted the introduction of a new and improved approach to home loans, namely online home loan application. Under this, you can apply from the comfort of your home and coordinate online with the lender for most, if not all, of the processing and get a digital home loan sanction letter. While a number of lenders today offer online applications, one stands out.
Bajaj Housing Finance Online Home Loan
HFC Bajaj Housing Finance Limited, a wholly owned subsidiary of Bajaj Finance Limited, has recently launched its online home loan application form. The form simplifies home loan applications like never before. Applicants applying for a new home loan need only provide 8 entries to receive a digital sanction letter valid for 180 days. Those with an existing home loan can also transfer their balance to the lender through the online application form.
Festive Offer: Fixed Rs 1,999 + GST Processing Fee
Those applying for funding through the Online home loan application form on the official website of Bajaj Housing Finance also benefit from the continued offer of the lender.
- Employee and professional candidates who apply for a mortgage for up to 15 yearsand November 2021 and receive the amount disbursed until 31st December 2021 only pay flat rate processing fee of Rs 1,999 + GST
How is Bajaj Housing Finance online home loan better?
- Apply for an instant home loan – 3 steps, 10 minutes
Apply online through the application form to complete the process at a time and place of your choosing. The entire form includes 3 steps and takes less than 10 minutes to complete. - Digital Sanction Letter
One of the most crucial things that can help you negotiate better with the real estate seller, be it an individual or a developer, is a sanction letter. The document proves your eligibility for the home loan and can help you secure a better deal. - Paperless home loan approval
Even once you’ve used the digital home loan sanction letter, the rest of the process mostly requires you to mail copies of your documents. If you prefer to submit physical copies, the lender also offers door-to-door document pickup. Note that originals/hard copies of some documents may be requested at the end of the application process. - Instant Home Loan Eligibility
The form provides you with your home loan eligibility, which also appears on your sanction letter. You even have the option to change the loan amount and term and check your provisional EMI with different combinations.
Apart from the online application aspect, applicants also benefit from all the features that come with a home loan from Bajaj Housing Finance.
- Competitive interest rate from 6.70%*, with EMI home loans from Rs 645/Lakh*
- Balance transfer function to increase your loan to 6.70%*, with the possibility of a significant top-up
- The ability to link your home loan to external benchmarks, such as the RBI repo rate
- Flexible repayment options, with a term of up to 30 years
- Zero partial prepayment and foreclosure fees for individuals with a variable interest rate
- Interest subsidy up to 6.50% under the PMAY scheme
- Online customer portal for simplified account management
Who can apply?
Both salaried and professional candidates can apply. The online home loan is a new way to request and benefit from a home loan through Bajaj Housing Finance, so standard lender eligibility criteria apply.
- Applicants must be Indian citizens between the ages of 23 and 62, the upper age limit being considered as the age of the applicant at the time of loan maturity.
- Salaried candidates will need a minimum of 3 years of professional experience in a private/public company or multinational, and professional candidates will need a minimum of 3 years of professional experience after qualification.
- The property in question must be located in one of the cities where the lender operates.
- Minimum monthly income criteria vary by age and city of residence of the applicant, starting as low as Rs.35,000.
How to register?
Both salaried and professional applicants can apply for the home loan online by visiting the official website of the lender.
- Step 1: Visit the official Bajaj Housing Finance online home loan form.
- 2nd step: Choose whether you want to take advantage of a new loan or a home loan balance transfer.
- Step 3: In the next three steps, fill in your personal information, such as name, monthly income and obligations, and PAN, among others. Those looking to transfer their home loan will also need to mention the amount of the loan and the term served.
- Step 4: In the third step, you also have the option of adding a co-applicant to try and improve your bid amount. Alternatively, one may disclose other sources of income for a more accurate offer. Note that at this stage, you can consult your CIBIL score for free.
- Step 5: Once you have entered all the necessary details, proceed to pay sanction letter fee of only Rs 1,999 + GST to avail digital home loan sanction letter.
To conclude, availing a home loan is easier today than ever before. Sit down and apply from the location and time of your choice and experience a seamless application process. Learn more about Bajaj Housing Finance home loan. To apply, visit their online home loan application form.