NewsVoir
Pune (Maharashtra) [India], December 23: Bajaj Housing Finance Ltd (BHFL) launches the new Dual Rate feature for Home Loans and Loans Against Property in line with their focus on providing borrowers convenient repayment options to help make dream homes a reality.
Key Features
With Dual Rate Home Loans and Loans Against Property, borrowers enjoy a fixed interest rate for the first three years of their repayment tenor. Consequently, with fixed EMIs over this period, borrowers benefit from predictability in their repayment obligation with removed interest rate volatility.
After the first three years, the loan converts to a floating interest rate loan linked to the BHFL Floating Rate Reference (FRR), allowing borrowers to benefit from changes in market conditions.
Applicability
Both salaried and self-employed individuals can benefit from this new feature, as well as a host of other features, such as competitive interest rates and quick and hassle-free processing on over 6,000 approved projects.
Further, in terms of Home Loans, the Dual Rate feature can be availed of by both – prospective borrowers looking to avail of a fresh Home Loan to purchase property, or existing borrowers looking to transfer their Home Loan for more favourable borrowing terms.
Classified as an ‘Upper-Layer NBFC’ by the RBI pursuant to Scale Based Regulations, Bajaj Housing Finance Limited (BHFL) is a subsidiary of Bajaj Finance Limited — one of the most diversified NBFCs in the Indian market, catering to more than 92.09 million customers across the country. Headquartered in Pune, BHFL offers finance to individuals as well as corporate entities for the purchase and renovation of homes, or commercial spaces. It also provides loans against property for business or personal needs as well as working capital for business expansion purposes. BHFL also offers finance to developers engaged in the construction of residential and commercial properties as well as lease rental discounting to developers and high-net-worth individuals. The Company is rated AAA/Stable for its long-term debt programme and A1+ for its short-term debt programme from CRISIL and India Ratings.
For more queries, visit www.bajajhousingfinance.in.
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