Under the Companies Act 1956, the Bajaj Housing Finance Limited (BHFL) has been integrated as the housing finance company and controlled by the National Housing Bank (NHB).
It is headquartered in Pune. They have 19 product lines across commercial, SME finance and consumers, and have more than 38.6 million customers around the country.
It provides finance to both individuals and corporate entities. It offers finance to developers and builders for the construction of homes, working capital for business expansion, loan against property for personal or business needs
On Wednesday, Bajaj Housing Finance declared a new festive deal. The home loan interest rates for the customers who have high credit scores start as low as 6.65 percent.
Bajaj Housing Finance is a fully owned subsidiary of Bajaj Finance. The Housing Finance Company (HFC) permits eligible home buyers to link their home loan rates to the RBI’s repo rate. This will benefit the customers from rate reduction by the Reserve bank of India (RBI).
To have this reduced rate of home loan, the customer should have a CIBIL (Credit Information Bureau India Limited) score of at least 800. Nevertheless, customers with credit scores between 750 and 799 can apply at a competitive interest rate but that would only be higher marginally. CIBIL score is one of the factors reviewed to assess the eligibility of the applicant.
Borrowers, for an interest subsidy of up to 6.50 percent, can utilize the loans up to Rs 5 crore or more, use the top-up loan of Rs 1 crore or higher, can transfer existing home loans, and also take benefit of the Pradhan Mantri Aawas Yojana (PMAY) amidst others.
To benefit from the offer, the applicants should have certain criteria. The applicants can either be a salaried employee, a Doctor, or a Chartered Accountants.
Salaried people can appeal for the loan if they are working with a multi-national firm, public sector, or private sector and with a work experience of a minimum of three years.
Chartered Accountants with work experience of three years or valid certificate of practice and Doctors with MBBS or qualifications that are higher and work experience of a minimum of three years can benefit from this deal.
The interested borrowers can start the application for the loan by January 26, 2022, via its website, the company declared. Only those who apply the deal from 28, December 2021 to 26 January 2022 and get the loan paid out by 25, February 2022 are eligible.
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