Monday, January 30, 2023

Online Home Loan and Digital Sanction Letter – For a Simple, Seamless Housing Loan Experience


Online Home Loan, Digital Sanction Letter , Housing Loan , home loan eligibilityApart from the online application aspect, applicants also benefit from all the features that come with a home loan from Bajaj Housing Finance.

Most Indians rely on a home loan to make their dream home a reality. High real estate prices have almost made housing loans a necessity for most individuals from the middle-income segment to be able to afford a place of their own. Of course, the tax benefits that accompany such a loan make the commitment that much easier.

But the one thing that has remained a key problem area is the process associated with availing of a home loan. Traditionally, the loan application has been lengthy and time-consuming and requires endless paperwork and multiple branch visits.

The rising adoption of technology and the outbreak of the COVID-19 pandemic have prompted the introduction of a new and improved approach to home loans, i.e., the online home loan application. Under this, you can apply from the comfort of your home and coordinate online with the lender for most, if not all, of the processing and get a digital home loan sanction letter. While a number of lenders today offer online applications, one stands out.

Bajaj Housing Finance Online Home Loan

The HFC Bajaj Housing Finance Limited, a 100% subsidiary of Bajaj Finance Limited, recently introduced its Online Home Loan application form. The form simplifies home loan applications like never before. Applicants applying for a fresh home loan only need to provide 8 entries to receive a digital sanction letter valid for 180 days. Those with an existing home loan can also transfer their balance to the lender through the online application form.

Festive Offer: Flat Rs.1,999 + GST Processing Fee

Those who apply for finance through the Online Home Loan application form on the Bajaj Housing Finance official website also benefit from the lender’s ongoing offer.

  • Salaried and professional applicants who apply for home loans till 15th November 2021 and get the amount disbursed till 31st December 2021 pay only a flat processing fee of Rs.1,999 + GST

How Is the Bajaj Housing Finance Online Home Loan Better?

  • Apply instant home loan – 3 steps, 10 mins
    Apply online through the application form to complete the process at a time and place of your choice. The whole form includes 3 steps and takes less than 10 minutes to fill.
  • Digital Sanction Letter
    One of the most crucial things that can help you negotiate better with the property seller, be it an individual or a developer, is a sanction letter. The document proves your home loan eligibility and can help you cut a better deal.
  • Paperless home loan approval
    Even once you avail of the digital home loan sanction letter, the rest of the process predominantly requires you to send in copies of your documents via mail. Should you prefer to submit physical copies, the lender offers doorstep document pickup as well. Do note that the originals/hard copies of some documents can be requested at the end of the application process.
  • Instant home loan eligibility

The form provides you with your home loan eligibility, which is eventually shown on your sanction letter as well. You even have the option to change the loan amount and tenor and check your tentative EMI with various combinations.

Apart from the online application aspect, applicants also benefit from all the features that come with a home loan from Bajaj Housing Finance.

  • Competitive interest rate starting at 6.70%*, with home loan EMIs starting from Rs.645/Lakh*
  • Balance transfer feature to switch your loan to 6.70%*, with the option to avail of a sizeable top-up
  • The option to link your home loan to external benchmarks, such as the RBI repo rate
  • Flexible repayment options, with a tenor of up to 30 years
  • Zero part-prepayment and foreclosure charges for individuals with a floating interest rate
  • Interest subsidy of up to 6.50% under the PMAY scheme
  • Online Customer Portal for hassle-free account management

Who Can Apply?

Salaried and professional applicants are both eligible to apply. The Online Home Loan is a new way to apply and avail of a home loan through Bajaj Housing Finance, so the lender’s standard eligibility criteria apply.

  • Applicants must be Indian citizens rising here between the ages of 23 and 62 years, with the upper age limit considered as the applicant’s age at the time of loan maturity.
  • Salaried applicants will need a minimum of 3 years of work experience in a private/public company or a multinational, and professional applicants will need a minimum of 3 years of work experience post qualification.
  • The property in question must be located in one of the cities the lender operates in.
  • The minimum monthly income criteria vary as per the applicant’s age and city of residence, starting as low as Rs.35,000.

How to Apply?

Salaried and professional applicants can apply for the Online Home Loan by visiting the lender’s official website.

  • Step 1: Visit the official Bajaj Housing Finance Online Home Loan form.
  • Step 2: Select whether you wish to avail of a new loan or a home loan balance transfer.
  • Step 3: Over the next three steps, fill in your personal details, such as name, monthly income and obligation, and PAN, among others. Those looking to transfer their home loan will also need to mention the loan amount and the tenor served.
  • Step 4: On the third step, you also have the option to add a co-applicant to try and enhance your offer amount. Alternatively, one can disclose other income sources for a more accurate offer. Note that at this stage, you can review your CIBIL score for free.
  • Step 5: Once you’ve entered all necessary details, proceed to pay a Sanction Letter Fee of only Rs.1,999 + GST to avail of a digital home loan sanction letter.

To conclude, availing of a home loan is easier today than its ever been before. Sit back and apply from a place and time of your choice and experience a seamless application process. To read more about the Bajaj Housing Finance Home Loan. To apply, visit their online home loan application form.

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