Mumbai: Bajaj Housing Financeis a subsidiary of Bajaj Finance and part of Bajaj FinservIncreases maximum home loan tenure from 30 years to 40 years for salaried applicants new home buyer,
So far, home loan providers Loans are largely provided for a maximum of 30 years, although the average loan term at the time of agreement is less than 20 years.
According to Bajaj Finance, the new tenure will enable home buyers to choose a flexible repayment tenure that is most convenient for them. “With the change in tenure, Bajaj Housing Finance now offers the most competitive home loans In the market, with one of the lowest EMIs – starting from Rs 733/lakh only,” the company said.
The revised tenure capping is subject to the age of the applicant at the time of application. The eligibility criteria for age with Bajaj Housing Finance is 23 to 75 years, with an upper age limit of 75 years at the time of loan maturity.
The company’s home loans for salaried individuals and professionals start at 8.5% per annum, with potential borrowers getting the option to link their interest rate to an external benchmark, ie the repo rate.
According to personal finance experts, as affordability improves as the loan tenure increases, it significantly increases the overall amount repaid by the borrower.
So far, home loan providers Loans are largely provided for a maximum of 30 years, although the average loan term at the time of agreement is less than 20 years.
According to Bajaj Finance, the new tenure will enable home buyers to choose a flexible repayment tenure that is most convenient for them. “With the change in tenure, Bajaj Housing Finance now offers the most competitive home loans In the market, with one of the lowest EMIs – starting from Rs 733/lakh only,” the company said.
The revised tenure capping is subject to the age of the applicant at the time of application. The eligibility criteria for age with Bajaj Housing Finance is 23 to 75 years, with an upper age limit of 75 years at the time of loan maturity.
The company’s home loans for salaried individuals and professionals start at 8.5% per annum, with potential borrowers getting the option to link their interest rate to an external benchmark, ie the repo rate.
According to personal finance experts, as affordability improves as the loan tenure increases, it significantly increases the overall amount repaid by the borrower.