Bajaj Housing Finance Limited (BHFL), a subsidiary of Bajaj Finance Limited, has recently announced a revision in the approval time for home loans across the board. Customers can now receive a digital sanction letter for an e-home loan within just 10 minutes*.
This will help expedite the process of locking in on a property for aspiring homeowners. Borrowers can save time and complete the process over a shorter duration. With BHFL’s high-value Home Loan of up to Rs. 3.5 Crore at rates starting 6.9% p.a.*, and instant processing in 10 minutes*, borrowers can streamline the entire home-buying procedure. The digital sanction letter stands valid for 180 days.
The following are a few benefits of an instant housing loan digital sanction letter from Bajaj Housing Finance Limited.
Obtain early bird discount on a home purchase
Aspiring homeowners can cut short the burden of buying a property with the Bajaj Housing Finance home loan. Real estate projects are completed in multiple stages and often marketed accordingly, referred to as a soft launch. In some cases, developers provide early-bird discounts to individuals investing in those initial phases, and a sanction letter in 10 minutes* enables customers to cash in on the same.
Minimum hassle with quick e-home loan
Buying a house can be a time-consuming process but receiving the sanction for a home loan instantly allays a customer’s stress significantly. When the worries of approval are out of the way, prospective homeowners can focus on the other details, like moving & packing, buying new furniture, and completing property-acquisition formalities, among others.
Plan repayment with more time in hand
A digital sanction letter contains various details concerning the loan, including the total amount sanctioned, e-home loan interest rates, tenor, and associated terms and conditions.
Receiving the sanction letter for a BHFL housing loan in just 10 minutes* provides a customer more time to plan how to manage repayments.
Simplify the home loan documentation process
Once the customer receives the sanction letter, he/she only needs to complete a few necessary formalities to conclude the process. Thus, applicants will find that an instant digital sanction letter simplifies the process of taking a loan since all the necessary documents are collected during the application of an e-home loan.
In that context, taking note of the eligibility criteria for home loan with Bajaj Housing Finance Limited is necessary. Here is a list of documents that customers need to submit
Documents Required
Scanned copies of Officially Valid Documents for KYC like Aadhaar card, PAN card, Voter’s ID card, driving license, or passport
Salary slips of the past few months or latest Form 16 (for salaried individuals)
Latest savings account statements
Business vintage proof of a minimum of 5 years (for self-employed individuals)
Pre-approved offers for faster disbursal
Bajaj Housing Finance Limited also extends pre-approved offers to customers alongside a quick digital sanction letter. Since these are pre-approved, an applicant only needs to submit property papers for fund disbursal. One can leverage their pre-approved offer on a housing loan to negotiate for better terms on their purchases.
Once individuals know the sum they are eligible to borrow, it can help them zero in on their search for a home. A pre-approved offer also provides an idea of the down payment a borrower needs to incur. With this offer in tow, availing a home loan is now more streamlined than ever.
About Bajaj Housing Finance Limited
Bajaj Housing Finance Limited (BHFL) is a 100% subsidiary of Bajaj Finance Limited – one of the most diversified NBFCs in the country with 19 product lines across consumer, commercial and SME finance catering to more than 38.6 million customers across the country. Head quartered in Pune, Bajaj Housing Finance Limited offers finance to individuals as well as corporate entities for purchase, construction and renovation of homes or commercial spaces. It also provides loan against property for business or personal needs as well as offers working capital for business expansion purposes. It also offers finance to builders and developers engaged in construction of homes. The company enjoys highest long-term credit rating of AAA (Stable) by CRISIL and IND AAA (Stable) by India Ratings and highest short-term credit rating of CRISIL A1+ by CRISIL and IND A1+ by India Ratings.
*Terms and conditions apply.
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