New Delhi [India], July 21: RBI's consecutive rate cuts open the door to cheaper home loans from Bajaj Finserv. Check eligibility instantly with EMIs starting at just Rs. 687/ lakh.

The Reserve Bank of India slashed the repo rate by 50 basis points in June 2025. This decision brings immediate relief to millions of prospective home buyers across India. Lower borrowing costs mean you can now secure your dream home at the most affordable rates in recent years.

Why home loan rates matter for Indian buyers Interest rates directly impact your monthly EMI payments and overall loan affordability. When rates drop, your monthly burden reduces significantly. A single percentage point reduction can save thousands of rupees every month.

Consider a home loan of Rs. 50 lakh over 20 years. At an interest rate of 8.5%, your EMI would be Rs. 43,391. At 7.49% interest, the same loan requires an EMI of just Rs. 40,249. This means savings of Rs. 3,142 every month.

The current low-rate environment also improves your chances of securing a larger loan amount. With reduced EMIs, your income can support a higher principal while staying within approved debt-to-income ratios. This increased borrowing capacity helps you target better properties in preferred locations.

Competitive home loan rates from Bajaj Finserv Bajaj Finserv has reduced its home loan interest rates following the RBI's repo rate cut, now offering rates starting at 7.49% p.a. for eligible applicants. This positions Bajaj Finserv among the most competitive lenders in the current market.

Your EMI can be as low as Rs. 687 per lakh borrowed with the Bajaj Finserv Home Loan. This affordability opens doors to homeownership for middle-income families who previously found EMIs challenging. The reduced rates make property investment more attractive across all income segments.

Key features of Bajaj Finserv Home Loan Bajaj Finserv offers comprehensive home loan solutions with customer-friendly features, competitive rates, and flexible terms to suit different financial profiles.

Feature Details Loan amount Up to Rs. 15 crore* Interest rate Starting 7.49% p.a.* Tenure Up to 32 years* Processing time Approval in 48 hours* Foreclosure charges Nil for individual floating rate borrowers EMI Starting Rs. 687 per lakh* Why choose Bajaj Finserv Home Loan Bajaj Finserv provides multiple advantages beyond competitive interest rates. These benefits make the home loan journey smoother and more convenient for borrowers.

Flexible repayment to suit every budget: Choose from tenure options up to 32 years to manage your monthly cash flow effectively.

Low EMIs starting at Rs. 687 per lakh: Affordable monthly payments make homeownership accessible to more income groups.

Doorstep document pick-up for hassle-free process: Skip multiple branch visits with convenient document collection services at your location.

Balance transfer with top-up up to Rs. 1 crore: Switch existing loans and access additional funds for renovation or other needs.

Over 5,000 pre-approved projects for faster processing: This extensive network ensures quick loan disbursal without property verification delays.

Zero foreclosure penalties: No foreclosure fees apply for individual borrowers with floating-rate loans.

Loan Mahotsava festive offers Bajaj Finserv's Loan Mahotsava offers continue until the end of July 2025. While home loan rates benefit from the general repo rate reduction, the festive season brings additional processing conveniences. The timing creates an ideal opportunity to secure property financing at historically low rates.

How to check your home loan eligibility in minutes Bajaj Finserv provides an online home loan eligibility calculator for instant assessment. This tool instantly determines your maximum borrowing capacity from Bajaj Finserv based on income and other factors. Follow these simple steps: Step 1: Enter your date of birth in DD/MM/YYYY format to determine age-based eligibility parameters.

Step 2: Provide your current city of residence as location affects loan processing and property valuations.

Step 3: Set your net monthly salary either by entering the amount directly or adjusting the slider bar.

Step 4: Choose your preferred tenure up to 32 years based on your financial planning and repayment capacity.

Step 5: Enter additional monthly income sources if applicable, or skip this step if you have none.

Step 6: Provide the total EMI amount for existing loans and credit cards, or skip if you have no current debts.

Provide accurate information and double-check all entries to ensure correct calculation results.

Factors that affect your eligibility Several key factors determine your home loan eligibility amount and interest rate. Understanding these helps you prepare a stronger application.

Credit score requirement: A CIBIL score of 725 or above is ideal for securing the best rates. Higher scores demonstrate creditworthiness and responsible financial behaviour.

Age considerations: Salaried applicants must be between 23-67 years, while self-employed individuals can apply between 23-70 years. The upper age limit applies at loan maturity.

Income and occupation: Stable income from salaried employment, professional practice, or established business determines loan amount eligibility. Employment history and income growth patterns also influence approval decisions.

Existing financial obligations: Current EMIs from personal loans, credit cards, and other debts reduce your available income for home loan repayment. Lower existing debt burden increases your maximum loan eligibility amount.

How to apply for a Bajaj Finserv Home Loan Click the 'APPLY' button on the Bajaj Finserv Home Loan page to begin your application.

Enter your personal details, including your full name, mobile number, and employment type, for initial screening.

Select the loan type from fresh home loan, balance transfer, or top-up options based on your requirements.

Verify your mobile number by generating and submitting the OTP sent to your registered phone number.

Provide financial details, including monthly income, required loan amount, and property identification status.

Enter additional information, such as date of birth, PAN number, and occupation-specific details as requested.

Submit your application by clicking the final submit button to complete the process.

A Bajaj Finserv representative will contact you to guide you through document submission and approval steps.

Eligibility criteria and documents required Criteria Details Nationality Indian citizen residing in India Age 23-67 years (salaried) and 23-70 years (self-employed) CIBIL Score 725+ Income Regular income source Documentation KYC documents (identity and address proof) Income proof (salary slips or P&L statements) Bank statements for the last 6 months Property documents (if identified) Long-term benefits of locking in a low interest rate with Bajaj Finserv Securing a low interest rate now impacts your financial planning for decades.

Fixed monthly payments help you budget effectively without worrying about rate changes.

Future interest rate increases will not affect your locked-in low rate.

Lower EMIs free up income for investments, emergencies, and other financial goals.

Current low rates allow you to qualify for higher loan amounts with affordable EMIs.

Stable housing costs provide a foundation for wealth accumulation through property appreciation and investment diversification.

The RBI's repo rate cut and Bajaj Finserv's 7.49% p.a. interest rate create an ideal opportunity to secure affordable home financing. Use the home loan eligibility calculator to assess your borrowing capacity today and secure your dream home with confidence. Download the app or visit the Bajaj Finserv Home Loan page to know more.

(Disclaimer: The above press release comes to you under an arrangement with PNN and PTI takes no editorial responsibility for the same.). PTI PWR PWR