Bajaj Housing Finance, a subsidiary of Bajaj Finance and part of Bajaj Finserv, has recently extended the maximum home loan tenure for salaried applicants who are new home buyers. Previously, most home loan providers offered loans with a maximum tenure of 30 years, although the average loan tenure was typically less than 20 years. However, Bajaj Housing Finance has now introduced a more flexible repayment option by extending the maximum tenure to 40 years.

This change allows homebuyers to choose a repayment tenor that is most convenient for them. Bajaj Finance claims that with this new tenure, they offer one of the most competitive home loans in the market, with the lowest Equated Monthly Installment (EMI) starting at just Rs 733 per lakh. It’s important to note that the revised tenor is dependent on the applicant’s age at the time of application. The eligibility criteria for Bajaj Housing Finance specify an age range of 23 to 75 years, with 75 years being the upper limit at the time of loan maturity.

For salaried individuals and professionals, Bajaj Housing Finance offers home loans starting at an annual interest rate of 8.5%. This provides potential homebuyers with an attractive option to finance their dream home. With the extended tenure and competitive interest rates, Bajaj Housing Finance aims to cater to the diverse needs of homebuyers and make homeownership more accessible.

In summary, Bajaj Housing Finance has extended the maximum home loan tenure to 40 years for salaried applicants who are new home buyers. This change allows borrowers to have a more flexible repayment option, and the company claims to offer one of the lowest EMIs in the market. With an attractive starting interest rate of 8.5% per annum, Bajaj Housing Finance aims to provide competitive and accessible home loans to a wide range of customers.