What Is a Home Loan?

A home loan is a secured loan through which you borrow a sum to purchase a property – be it an under-construction or ready-for-possession property from a developer, or a resale property from an individual or entity. You can also avail of a home loan for property extension or refurbishment.

You borrow a home loan at a predetermined interest rate and repayment duration (tenor) and repay the principal, with interest, through EMIs (Equated Monthly Instalments). If you have an existing home loan, you also have the option to transfer the balance amount to Bajaj Housing Finance for a more competitive interest rate and other favourable terms.

Get Home Loan from Bajaj Housing Finance

Bajaj Housing Finance offers a sizeable home loan of Rs. 5 Cr* or even higher, based on eligibility. Our interest rates start at 7.20%* p.a. for eligible salaried individuals and professionals, with EMIs as low as Rs. 679/Lakh*.

With a flexible repayment tenor of up to 30 years, you can repay your EMIs conveniently. We also offer other benefits such as disbursal within 48 hours* of document submission and approval, balance transfer with a top-up of Rs. 1 Cr* or higher basis eligibility, and interest subsidy under Pradhan Mantri Awas Yojana. A home loan can also help you avail of tax benefits under various sections of the Income Tax Act (ITA).

Features Of Home Loan

  • Competitive Interest Rate of 7.20%*

    Make the most of our lowest ever home loan interest rate today. At 7.20%* p.a., your home loan EMI can be as low as Rs.679/Lakh*.

  • Loan Amount of Rs.5 Cr*

    Avail of a sizeable home loan of Rs.5 Cr* or even higher, depending on eligibility.

  • Balance Transfer Top-up of Rs.1 Cr*

    Transfer your home loan balance to Bajaj Housing Finance today. Benefit from a lower interest rate and reduced EMIs, as well as avail of a top-up loan – be it for debt consolidation or a vacation.

  • Repayment Tenor of 30 Years

    Opt for a longer tenor to make your EMIs more affordable over the years. Choose a tenor of up to 30 years and repay comfortably.

  • Disbursal in 48 Hours*

    Once you receive approval post the submission of a complete application with all the necessary documentation, you can expect disbursal in as little as 48 hours*.

  • Interest Subsidy Under PMAY

    Avail of an interest subsidy under the Pradhan Mantri Awas Yojana when you apply with us, as we are a prime lending institution with the Central Nodal Agency.

  • Contact-Free Loan

    Enjoy a truly hassle-free experience with a completely virtual application process. Skip the tedious branch visits.

  • Customized Repayment Options

    Want to purchase a house that’s in construction and pay only a part of your EMIs to begin with? With us you benefit from customized repayment options.

  • Hassle-Free Processing

    Enjoy an all-new home loan experience with us – one where you need to submit minimal documentation and can complete the process from the comfort of your home. Visit us, or call us home, only to sign the final loan agreement and other registration formalities

  • Zero Part-Prepayment and Foreclosure Charges

    Individuals with a floating interest rate home loan face no additional fees or charges should they choose to repay a part, or the entire sum, of their home loan before the end of the tenor.

  • Online Tools for Better Decision-Making

    A home loan is a long-term commitment and requires thorough research. Use our online tools, such as the home loan eligibility calculator and the home loan EMI calculator, to finalize a loan amount and tenor best suited to your finances.

  • External Benchmark Linked Loans

    Make the most of home loan interest rates linked to external benchmarks such as the Repo Rate. Benefit from reduced payouts during favourable market conditions.

  • Online Account Management

    Enjoy a truly hassle-free experience even once the loan is disbursed. Access your statement of accounts and other documents through our customer portal and complete transactions from the comfort of your home.

  • 5,000+ Approved Projects

    Choose a property from one of our list of 5,000+ approved projects and enjoy the best borrowing terms, along with quick and hassle-free processing.

Calculate your Home Loan EMI

A home loan is often a long-term commitment; thus, it’s important you make an informed decision. Use a home loan calculator to know your loan EMI and assess its feasibility on a monthly basis. A home loan EMI calculator is an easy-to-use online tool, wherein you adjust the loan amount, tenor, and interest rate to know the corresponding loan EMI and total interest payable.

Loan Amount




Rate of Interest


Loan EMI


Total Interest Payable

Rs. 10,15,990

Total Payment (Principal + Interest)

Rs. 50,51,552

Total Interest

Principal Amount

Home Loan Eligibility Criteria

When considering vendors, it is important to check the home loan eligibility criteria, so you can maximize your chances of approval. Our criteria vary on the basis of employment type.

Eligibility Parameters Salaried Self-Employed
​​Nationality Indian (Non-NRI) Indian (Non-NRI)
​​​Employment Minimum 3 years of work experience, preferably with a reputed employer Minimum 5 years of vintage in current enterprise
​​Age 23 to 62 years 25 to 70 years
Place of Residence Must reside in one of the cities we operate in Must reside in one of the cities we operate in
Income Rs.30,000 to Rs.50,000, depending on the city of residence and age Rs.30,000 to Rs.40,000, depending on the city of residence and age

Upper age limit is considered as age at the time of loan maturity

Home Loan Document Checklist

To complete your application, you will need to submit supporting documents for the personal, employment, income, and financial information you have mentioned on the form.

  • Personal: KYC documents – Photo ID (Aadhaar Card, PAN Card, Voter ID, Driving Licence, etc.), Residential proof (utility bills, Ration Card, Passbook, etc.)
  • Income: Salary slips – 3 months (salaried applicants, salaried professional applicants), proof of business (self-employed professional, non-professional applicants), etc.
  • Qualification: Education certificates – MBBS and above (self-employed professionals – doctors), valid COP (self-employed professionals – CA), etc.
  • Financial: Bank account statement – 6 months, ITR, P&L statement (self-employed professional, non-professional applicants), etc.
  • Property related: Title deed, property tax receipts, allotment letter, etc.

Things to Check Before You Apply For Home Loan

  • Additional Fees and Charges: It is important to know all charges associated with your home loan. The most important charge to bear in mind is the processing fee. We levy a processing fee of 0.25% to 6% of the loan amount.
  • Interest Rate: The interest rate on your home loan is one of the most important factors that will determine how affordable or unaffordable your EMIs and, ultimately, the loan is in the long term. Our home loan interest rate starts as low as 7.20%* p.a. for salaried and professional applicants.
  • The Ideal Tenor: When assessing the loan amount you wish to avail of, you will need to bear the tenor and, ultimately, the EMI in mind. You have the option to choose a tenor of up to 30 years, but it is ideal to leave some room in your tenor and not avail of the highest available duration. This is because in case your interest rate increases over the course of your tenor, your increased interest outflow can be adjusted against an increase in your tenor rather than an increase in your home loan EMI.
  • Check Your Eligibility and EMI: Before you go ahead and apply for the loan, it is important you check the loan amount you are likely to be eligible for. On the basis of your eligibility and the property you wish to purchase, you should also check your home loan EMI. Knowing these details will help you make an informed decision well in time.
  • Apply With the Optimal CIBIL Score: Your CIBIL score is an important factor that contributes towards your eligibility. Check your CIBIL and try and enhance it before you apply so as to avail the most favourable borrowing terms. It is recommended you apply for a home loan once your CIBIL score is over 750.

Planning to Buy Your Dream Home? Bajaj Housing Finance Is Here to Help

A home loan is a long-term commitment and having the right partner in this journey is crucial to ensure a smooth and hassle-free experience for years. When you apply with Bajaj Housing Finance, not only are you assured of competitive interest rates, but you also benefit from a repayment tenor of up to 30 years, contact-free processing, and quick approval and disbursal.

What’s more, you also have the option to link your home loan to an external benchmark, such as the RBI repo rate, which enables complete transparency in the rate setting mechanism. Those with an existing home loan can also make the most of our features by opting for home loan balance transfer and switching to us.

When you transfer the balance amount on your home loan to Bajaj Housing Finance, you can avail of a lower interest rate, as well as make the most of a top-up loan of Rs. 1 Cr* or higher, basic eligibility.

How to Apply for a Home Loan Online

If you’re wondering how to apply for a home loan, the below guide will walk you through our easy home loan application process.

Step 1

Visit our application form

Step 2

Enter your full name, mobile number, PIN code, and occupation type

Step 3

Enter your date of birth, PAN number, income, and other details

Once you submit the application, our representative will get in touch with you within 24 hours* and explain the next steps. Alternatively, you can also walk into any of our branches around India, where our representatives can guide you through the process.

Home Loan FAQs

What Is a Home Loan?

A home loan is a financial solution that enables individuals as well as entities to borrow funds for the purchase or renovation of a residential property. Our home loan interest rate starts from 7.20%* p.a. onwards. A home loan is a secured loan, and the property to be purchased served as collateral. In other words, the property ownership remains with the lender until you repay the entire sum with interest. The home loan interest rate is relatively low compared to, say, a personal or business loan because of its secured nature.

How Does a Home Loan Work?

Under a home loan, you borrow funds at a predetermined interest rate and agree to pay the sum (principal) back, with interest, over a predetermined time frame (tenor)through equated monthly instalments (EMIs).

What Are the Processing Fees for a Home Loan?

Home loan processing fees refer to the main fee charged with every loan application, including that of a home loan. It is the amount the lender charges to process your application and extend funding. The fee varies from lender to lender and person to person. We charge a processing fee starting from 0.25% to 6.00%.

How to Apply for a Home Loan?

When initiating a home loan application, you can either visit our branch or visit our online application form to apply. Home loan application is easy and straightforward. Follow the below steps to apply online.

How Long Does It Take to Get a Home Loan Sanctioned

When you apply through our Online Home Loan application form, you can get a sanction letter in 10 minutes. The form is a DIY journey that allows you to avail of a digital sanction letter by submitting basic details and paying a nominal fee.

Who Can Be a Co-applicant?

When availing of a home loan jointly, you can apply with your parents, spouse, children, or siblings as co-applicants. A few relationships are exceptions here, including married daughters and parents.

What is MCLR?

MCLR stands for ‘Marginal Cost of funds based Lending Rate.’ An internal benchmark used by financial institutions, the MCLR is the minimum interest rate at which the institution can lend. The MCLR system was introduced in the year 2016 to replace the Base Rate system. It offered better transmission of interest rate benefit to customers.

What is a Repo Rate Linked Home Loan?

The Repo Rate is an instrument used by the RBI to control lending and, ultimately, inflation in the Indian economy. Thus, a repo rate linked home loan is a housing loan where your interest rate is linked to the repo rate. It offers you more transparency in the rate setting mechanism and better transmission of benefits in favourable market conditions.

What is a Top-up Loan?

As the name suggests, a top-up loan is an additional amount one can avail of over and above their existing home loan. Home loan borrowers can choose to transfer the balance amount on their home loans to another lender for more competitive interest rates and better borrowing terms.

When you avail of a balance transfer with Bajaj Housing Finance, you have the option to apply for a top-up loan of Rs. 1 Cr* or higher, basis eligibility. Here, the amount comes without any end-use restrictions, so you can choose to spend it as you deem fit.

What Are the Different Types of Home Loans Available in India?

Depending on the end-use and application type, one can choose from a variety of home loans, including:

  • Fresh Home Loans (new application)
  • Home Loan Balance Transfer (when you switch from one lender to another)
  • Home Loans for Professionals (tailored offers for professionals)
  • Home Renovation Loan (A balance transfer with top-up where you can use the latter from renovation)

Does a Home Loan Come with Tax Benefits?

Yes, home loan borrowers can claim tax benefits under several exemption sections.

  • Section 24 – Up to Rs. 1.5 Lakh p.a. (on principal)
  • Section 80C – Up to Rs. 1.5 Lakh p.a. (on interest)
  • Section 80EE – Up to Rs. 1.5 Lakh p.a. (on interest, for properties < Rs. 45 Lakh)