24th December 2024  Pune, Maharashtra, India  Bajaj Housing Finance Ltd (BHFL) launches the new Dual Rate feature for Home Loans and Loans Against Property in line with their focus on providing borrowers convenient repayment options to help make dream homes a reality.

Key Features

With Dual Rate Home Loans and Loans Against Property, borrowers enjoy a fixed interest rate for the first three years of their repayment tenor. Consequently, with fixed EMIs over this period, borrowers benefit from predictability in their repayment obligation with removed interest rate volatility.

After the first three years, the loan converts to a floating interest rate loan linked to the BHFL Floating Rate Reference (FRR), allowing borrowers to benefit from changes in market conditions.

Applicability

Both salaried and self-employed individuals can benefit from this new feature, as well as a host of other features, such as competitive interest rates and quick and hassle-free processing on over 6,000 approved projects.

Further, in terms of Home Loans, the Dual Rate feature can be availed of by both – prospective borrowers looking to avail of a fresh Home Loan to purchase property, or existing borrowers looking to transfer their Home Loan for more favourable borrowing terms.