Top Up Loan on Home Loan Bajaj Finserv

Published date: November 20, 2017
Modified date: November 22, 2017

Bajaj Finserv Offers Lowest Home Loan Interest Rates in India ✔ Minimum Processing Fees ✔ 3 EMI Holiday ✔ NIL Loan Statement Charges ✔ NIL Interest and Principle Statement Charges ✔ NIL Foreclosure Charges ✔ NIL Part Prepayment Charges ✔ Check Latest Housing Loan Interest Rate ✔ Home Loan Eligibility ✔ Apply for Home Loan Online ✔ Get Best Home Loan Offers at Affordable Rates and Instant Approval

To help home buyer’s set-up their dream home, Bajaj Finserv has come up with a unique offer - Top-up Loan. Under this scheme, Bajaj Finserv lends you an additional amount to transform your house to the home of your dreams.

Top Up Loan: Features and Benefits

A Top Up loan is an exclusive option for our Home Loan Balance Transfer customers that give them the freedom to borrow money over and above the initial Home Loan amount. You can avail of these loans when you opt for a Home Loan Balance Transfer from Bajaj Finserv.

Applying for and maintaining multiple loans can be quite a hassle. If you’ve bought land, you’ll most certainly need to get a Home Construction Loan to fund your construction activities. A Top-Up Loan on your existing loan will hasten the process and save you lots of time and energy. Using a Top Up loan for home improvement gets you tax exemption on the loan amount. These loans can be used for a variety of other purposes also, like marriage expenses, or even education. You can make use of this facility a year after your loan gets disbursed.

When you opt for a Home Loan Balance Transfer at Bajaj Finserv, you can easily get a Top Up Home Loan at a very low rate of interest.

Low interest rates

You can avail a Top Up loan on Home Loan at an interest rate much lower than most other loans.

Easy Financing

Getting a Home Loan Top Up loan is hassle-free and requires very little paperwork. You can repay the loan through easy EMIs. Plus, there are no prepayment charges.

  • This loan is available for salaried individuals only
  • This offer is up for all our existing and new customers who have/will avail our Home Loan Balance Transfer facility
  • The Top-up Loan can be more than the original Home Loan if the value of your property is high.

Eligibility and Documents for Top-Up Loan

Our Top-Up Loans are available to all customers who opt for a Home Loan Balance Transfer. We have a set of very basic eligibility criteria and minimal documentation requirements. Here is the complete list of requirements for Top-Up Loan eligibility.

Top-Up Loan: Fees and Charges

There are no prepayment or foreclosure charges if you decide to prepay your EMIs or foreclose your loan before the tenure gets over. This way you can clear off your debts quickly and easily if you have the financial capacity to do so. For information on processing fees, the rate of interest and other charges, please visit the link provided to help you get a better understanding of Top Up Loan charges and interest rates

How to Apply

Online : Fill up the online application form and review your loan offer with the help of our Home Loan Top-up calculator.

Offline : Give us a call on 1-800-209-4151 or visit any of our branches.

Home Loan Eligibility Criteria

At Bajaj Finserv, the Home Loan eligibility criteria is defined by various factors as mentioned below:

  • You are an Indian resident.
  • You are between 25-58 years of age.
  • You are a salaried individual with a work experience of 3 years or more
  • The minimum loan amount is Rs.30 lakh and maximum Rs.10 crores.
CitiesMinimum Net Salary Per Month (Rs.)Minimum Property Value (Rs.)
Delhi, Mumbai5000040 Lakh
Bangalore, Chennai, Faridabad, Ghaziabad, Gurugram, Hyderabad, Noida, Pune, Thane4500030 Lakh
Ahmedabad, Aurangabad, Baroda, Bhopal, Bhubaneswar, Calicut, Chandigarh, Cochin, Coimbatore, Goa Indore, Jaipur, Jamnagar Jodhpur Kolhapur Kolkata, Lucknow Madurai, Mysore, Nagpur, Nasik, Rajkot, Surat, Tiruchirappalli Trivandrum, Vapi Vijayawada, Vizag3000020 Lakh

*Kindly note that the list of documents mentioned is indicative. During loan processing additional documents may be asked for. The same will be appropriately communicated to you as and when required.

Documents Required for Home Loan

If you are applying for a Home Loan, then here’s an exhaustive list of the home loan documents you will need to submit with your loan application.

Application formYes
PhotographYes
Identity proof (Any one)Voter's ID card / Driving license / Job card issued by NREGA / Aadhaar card / PAN card (PAN card only as identity proof)
Address proof (Any one)Passport / Voter's ID card / Driving license / Aadhar card
Income detailsForm 16 /Latest salary slips
Bank account statementsFor last 6 months

These are some of the basic documents required for Home Loan. You might need to submit some additional documents, if the need arises.

Current Home Loan Interest Rates: Fees and Charges

Types of feesCharges applicable
Rate of interest8.35%
Processing fees1% of the loan amount for salaried individuals
Loan statement chargesNIL
Interest & principle statement chargesNIL
PDC swap chargesNIL
EMI bounce chargesRs.2500 for every bounce
Penal interest2.00% p.m
Secure feeRs. 4999/-

*Applicable following 1st EMI clearance.

Foreclosure Charges

Borrower Type: Interest TypeTime Period (Months)Foreclosure charges
Individual: Floating rate>1Nil
Non-Individual: Floating rate & All borrowers: Fixed rate>14% plus applicable taxes
  • For Term Loan on principal outstanding
  • For Line of credit (Flexi Pure) Charges will be calculated on sanctioned limit
  • For Flexi Saver (Dropline Flexi) charges will be calculated on current Dropline limit

Part prepayment charges

Borrower Type: Interest TypeTime Period (Months)Part payment charges
Individual: Floating rate>1Nil
Non-Individual: Floating rate & All borrowers: Fixed rate>12% plus applicable taxes on part payment amount paid
  • Part payment made should be more than 1 EMI.
  • Charges not applicable for Line of credit (Flexi Pure) & Flexi Saver (Dropline Flexi)

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