All About Home Loan in Barwani

Read more about home loan in Barwani, get details on fees and charges, interest rates, features, benefits, eligibility criteria, and the online application process.
All About Home Loan in Barwani
2 min read
23 January 2024

Nestled along the banks of the Narmada River, Barwani stands as a town with a rich cultural heritage. As it evolves, so do the aspirations of its residents to secure their own place. To achieve this goal, home loan becomes as the essential tool, providing the financial means to turn the vision of homeownership into reality.

You can own a home in Barwani with Bajaj Finance Home Loan. Avail of a home loan from Bajaj Finance at an interest rate starting from 8.50%* p.a. and repay over a flexible repayment tenure of up to 32 years. Apply for a home loan through our website or visit our nearest branch in Barwani to avail of a home loan from Bajaj Finance.

If you are looking to own a property in Barwani, you can apply for Bajaj Finserv Home Loan and avail of benefits. Here is a comprehensive guide to help you with the process of availing a home loan in Barwani:

Features and benefits

  1. Loan of up to Rs. 15 crore*: You can fulfil your dream of buying a home in Barwani with our sizeable loan amount of up to Rs. 15 crore*.
  2. Low interest rates: With our home loan interest rates starting from 8.50%* p.a., you can pay EMIs as low as Rs. 759/lakh* and manage your EMIs conveniently.
  3. Approval in 48 Hours*: Your loan application will be approved within 48 Hours* of your application, thus helping you access your funds at the earliest.
  4. Tenure of up to 32 years*: Repay your loan conveniently with our long repayment tenure ranging up to 32 years*.
  5. Hassle-free application: Our doorstep document pick-up service helps to skip numerous branch visits and enables an easy application process.
  6. Balance transfer facility: With our home loan balance transfer facility, you can transfer your existing home loan to us and be eligible for a top-up loan of up to Rs. 1 crore* or higher.
  7. 5000+ approved projects: You can choose from our 5000+ approved projects to avail of a home loan.

*Terms and conditions apply

Eligibility criteria and documents required

Here are the eligibility criteria and list of documents required to apply for a home loan from Bajaj Finance.

Eligibility criteria:

Nationality: You must be an Indian citizen residing in India.
Age: A salaried applicant must be between 23 years to 65 years, and a self-employed professional must be between 23 years to 70 years.
*The upper age limit is considered as the age at the time of loan maturity.
CIBIL Score: A CIBIL Score of 725 or higher is ideal to get a home loan.
Occupation: Salaried, self-employed professionals like doctors and self-employed non-professionals are eligible to apply.

Documents required:

  1. KYC documents (identity and address proof)
  2. Proof of income (salary slips or P&L statement)
  3. Proof of business (for self-employed applicants), and
  4. Account statements for the last 6 months

Note: This is an indicative list that may change based on your actual loan application.

Home loan interest rate, fees & charges

Type of fee Applicable charges
Rate of interest Salaried Self-employed Doctors
8.50%* to 17.00%* p.a. 8.70%* to 17.00%* p.a. 8.50%* to 17.00%* p.a.
Processing fees 4% of the loan amount
Bounce charges For loan amounts up to Rs. 15 lakh: Rs. 500
For loan amounts from Rs. 15,00,001 to Rs. 30,00,000: Rs. 1,000
For loan amounts from Rs. 30,00,001 to Rs. 50,00,000: Rs. 1,500
For loan amounts from Rs. 50,00,001 to Rs. 1,00,00,000: Rs. 2,000
For loan amounts from Rs. 1,00,00,001 to Rs. 5,00,00,000: Rs. 3,000
For loan amounts from Rs. 5,00,00,001 to Rs. 10,00,00,000: Rs. 5,000
For loan amounts more than Rs. 10 crores: Rs. 10,000.
Penal interest Up to 24% per annum in addition to the applicable interest rate on the overdue amount.
Secure fee Up to Rs. 10,000 + GST as applicable
Interest and principal statement charges NIL
Part-prepayment charges**

(1) For individual and non-individual borrowers with floating interest rate loans for non-business purposes:

  • For Term Loan – Nil
  • For Flexi Term Loan – Nil

(2) For individual and non-individual borrowers with floating interest rate loans for business purposes and all borrowers with fixed interest rate** loans:

  • For Term Loan – 2% on the part-prepayment amount.
  • Flexi Term Loan - Nil

*GST as applicable will be payable by the borrower in addition to the prepayment charges, if any.

**Nil for home loans closed by borrowers out of their own sources. Own sources refer to any source, other than borrowing from a bank/NBFC/HFC and/or a financial institution.

Note: In the case of dual-rate home loans (fixed for the initial period and then floating), the foreclosure/part-prepayment charges will be applicable as per the status of the loan as on the foreclosure/part-prepayment date.

Foreclosure charges

(1) For individual and non-individual borrowers with floating interest rate loans for non-business purposes:

  • For Term Loan – Nil
  • For Flexi Term Loan – Nil

(2) For individual and non-individual borrowers with floating interest rate loans for business purposes and all borrowers with fixed interest rate** loans:

  • For Term Loan – 4%* on principal outstanding
  • For Flexi Term Loan – 4%* on the sanctioned amount during the Flexi interest only loan repayment tenure; and 4%* on the available Flexi loan limit during the Flexi Term Loan tenure

*GST as applicable will be payable by the borrower in addition to the prepayment charges, if any.

**Nil for home loans closed by borrowers out of their own sources. Own sources refer to any source, other than borrowing from a bank/NBFC/HFC and/or a financial institution.

Note: In the case of dual-rate home loans (fixed for the initial period and then floating), the foreclosure/part-prepayment charges will be applicable as per the status of the loan as on the foreclosure/part-prepayment date.

Hard copy loan statement charges Up to Rs. 500 + GST as applicable


How to apply for a home loan in Barwani

Here is the step-by-step guide to applying for a home loan:

  1. Click on the 'APPLY' button on this page
  2. Enter your full name, mobile number, and employment type
  3. Now select the type of loan that you wish to apply for
  4. Generate and submit your OTP to verify your phone number
  5. Upon OTP verification, enter additional details like your monthly income, required loan amount, and if you have identified the property
  6. In the next steps, enter your date of birth, PAN card and other details as requested depending on your selected occupation type
  7. Click on the ‘SUBMIT’ button

That is it! Your application is submitted. Our representative will connect with you and guide you through the next steps.

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Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

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