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Bajaj Finserv cuts home loan interest rate to 6.70% per annum

Bajaj Finserv Limited, a non-banking financial company, announced a cut in the interest rate on its bajaj finance personal loan. The annual interest rate for salaried and professional applicants has been lowered by 0.05 percent to 6.70 percent.

As part of a festive deal, Bajaj Finserv has lowered its house loan interest rate, and those interested may take advantage of it by applying for a home loan online using their website’s (application form) or in person at any of their locations across India. Applicants benefit from a Contact-Free Loan application when they complete the online process, as the entire process is conducted by phone or mail except for the final step.

Who will be aided by the new interest rate?

This offer rate is available to applicants with good credit and income histories, thus lowering their house loan EMIs to Rs 645 per lakh. Customers who move their home loans to Bajaj Finserv can also take advantage of the reduced interest rate.

For paid employees, the lender’s home loan qualifying requirement

Applicants must have worked for a public or private corporation or a multinational for a minimum of three years. Apart from that, you must be an Indian citizen (non-resident Indians are not eligible) and between the ages of 23 and 62, with 62 being the age at the time of loan maturity. The income threshold ranges between Rs 30,000 and Rs 50,000 depending on the applicant’s age and residence region.

Other features and incentives available to candidates include:

– A payback term of up to 30 years is adjustable.

– A substantial house loan of Rs 5 crore or more, based on eligibility

– A large top-up loan of Rs 1 crore, or perhaps more, based on balance transfer eligibility

– Loans with external benchmarks (repo rate)

– Interest subsidy under the PMAY scheme’s EWS and LIG categories

– Repayment choices that are suited to your requirements

– On 5,000+ approved projects, faster processing and better terms are available.

– Document pick-up at your doorstep – Disbursement in 48 hours after approval and verification

– Online account management – No prepayment penalties or foreclosure fees

Compare fixed vs floating rates?

Fixed and floating-rate loans are similar in that they provide borrowers with fixed payments every month, eliminating much of the uncertainty involved in variable-rate mortgages. But while a fixed-rate mortgage is designed to protect you from volatile changes in rates, it also comes at a price: locked-in terms and higher upfront costs. Ultimately, it’s up to you to decide whether you prefer stability or affordability when picking your next home loan; there are benefits and drawbacks to both fixed and floating rates.

Is there any down payment required?

No, there is no down payment required for Bajaj Finance’s personal loans. As soon as you apply for your loan, you will be given an advance of up to 50 percent on your credit limit without having to put in any collateral or security deposit.

Can you transfer loans from another bank on these terms?

Yes, Bajaj Finserv offers a personal loan at attractive terms that can be transferred from other banks and NBFCs on similar terms. You just need to submit your transfer request at least 1 week before your previous loans mature and get it approved from Bajaj Finance within 15 days.


With new interest rates announced by Bajaj Finserv, there has never been a better time to apply for a personal loan for your financial needs, whether it is for education abroad or upgrading your lifestyle in India. Apply today and enjoy special cashback discounts and great benefits at both national and international establishments!

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