New Delhi: Bajaj Housing Finance has rolled out ‘Sambhav Home Loans’ an affordable home loan scheme for lower income households. Borrowers can get affordable housing loan at interest rate of as low as 8.50 per cent under the ‘Sambhav Home Loans.’ Moreover, the affordable housing loan scheme comes with home loan minimum income requirement of just Rs 10,000 per month. On the top of that no income proof, no PAN card, minimum documents are required to get a home loan under this scheme.
Home Loan interest rate (Floating) for salaried borrowers
Loan Type
Effective ROI (p.a.)
Home Loan
8.50%* to 15.00%*
Salaried borrowers can get home loan interest rate in the range of 8.50 per cent to 15 per cent. While, self employed borrowers can get ‘Sambhav Home Loans’ at rate of interest of as low as 9.10 per cent. On higher side, the home loan interest rate can go to as high as 15 per cent.
Home Loan interest rate (Floating) for self-employed borrowers
Loan Type
Effective ROI (p.a.)
Home Loan
9.10%* to 15.00%*
Features and Benefits of Sambhav Home Loan
With just Rs 10,000 per month salary, borrowers can get home loan of Rs 10 lakh or more
Repayment tenure runs for as long as 20 years
Age limit – 25 to 60 (Salaried borrowers)
Age limit – 30 to 70 (Self-employed borrowers)
No income proof, PAN card required
Application process is completely online
Eligibility Criteria for Sambhav Home Loan
Salaried borrowers can apply from the age of 25. However, they must not have attained the age of 60 at estimated time of maturity of the home loan. Self-employed borrowers can apply from the age of 30 and they should not be more than 70 years old as per estimate maturity time of the affordable housing loan scheme.
India’s affordable housing segment has seen continuous fall in demand and sales after Covid-19 pandemic. Bajaj Group’s ‘Sambhav Home Loans’ might just give the filip to this segment.
Bajaj Housing Finance’s ‘Sambhav Housing Loans’ basically targets affordable housing segment of the country. It aims to provide housing finance solutions to the low income groups. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
