Mumbai: Bajaj Housing Finance launched Sambhav Home Loans on Tuesday– a product to provide affordable and accessible housing finance.
The all-new Home Loan product is designed for first-time homebuyers looking to make their dream of home ownership a reality through affordable housing finance. In line with this, the income norm on Sambhav Home Loans starts from only Rs. 10,000 per month, with loan amounts as low as Rs. 10 Lakh. The affordable income criterion makes this an accessible option for prospective borrowers across a wide range of income groups.
Both salaried and self-employed applicants from a range of employment types, such as manufacturing, trading, and the informal job sector, among others, are eligible for finance as part of this product. Subsequently, the eligibility, documentation, and application process for Sambhav Home Loans have been kept flexible to accommodate all such employment types.
Apart from minimal eligibility requirements, Sambhav Home Loans offer a host of benefits. Borrowers enjoy attractive interest rates with affordable EMIs and the option to choose a repayment tenor of up to 20 years. Eligible borrowers also benefit from a sizeable loan amount, which makes home ownership more convenient.
With the launch of Sambhav Home Loans, Bajaj Housing Finance now offers a full suite of offerings in housing finance, covering all customer categories. With over 6,000 approved projects, the Lender offers custom mortgage solutions across India. Interested applicants can either apply online through the Lender’s website or walk into any of its branches.
* Salary norms and minimum loan amount are subject to change basis city | T&C apply
About Bajaj Housing Finance Limited
Classified as an ‘Upper-Layer NBFC’ by the RBI pursuant to Scale Based Regulations, Bajaj Housing Finance Limited (BHFL) is a 100% subsidiary of Bajaj Finance Limited — one of the most diversified NBFCs in the Indian market, catering to more than 83.64 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.
