Overview

A Home Loan from MortBuzz Home Loan Solution makes your goal of owning a home easier than ever. You can get a Home Loan of Rs.5 Crore* or more depending on your eligibility. We offer attractive interest rates starting from 8.50%* p.a for salaried applicants. With EMIs as low as Rs.733/Lakh* and a flexible repayment tenor extending to 40 years, you can repay the loan at your own pace.

Our housing loans come with several other benefits. You can apply for a Home Loan online and expect disbursal within just 48 Hours*. If you have an existing housing loan, you can opt for a balance transfer to enjoy lower interest rates and a Top-up Loan of Rs.1 Crore* or higher. You can also avail of several tax benefits under the old tax regime with a Home Loan in India.

Features and Benefits of a Home Loan

Calculate Your Home Loan EMI

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Loan Amount Please enter your loan amount here.

Loan Terms Please enter the number of years in which you plan to repay the loan.

Repayment Frequency

Interest Rate The interest rate will default to the product you selected. You can also change the rate up or down to understand the effect on your repayments and total interest payable.

Down Payment If applicable, enter the down payment, which will be deducted from loan amount

Payment Mode Please choose payment mode of the loan.

Period	Payment	Interest	Balance

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Total interest payable

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Balloon amount (0.00%)

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Down Payment Amount

Eligibility Criteria for a Home Loan

It is important to check the Home Loan eligibility criteria, so you can maximise your chances of getting a Home Loan. Our criteria vary on the basis of the applicant’s employment type. Interested in applying for a Home Loan online? Check out the following eligibility criteria

Eligibility Parameters	Salaried	Self-Employed	Self-Employed Professionals
Nationality	Indian (including NRIs)	Indian (resident only)	Indian (resident only)
Employment	Minimum 3 years of work experience in a public or private sector company, or an MNC	Minimum 5 years of vintage in the current enterprise	Minimum 3 years of vintage in the current enterprise
Age	23 to 75 years**	25 to 70 years**	25 to 70 years**

The upper age limit is considered as age at the time of loan maturity. Additionally, the upper age limit is subject to change, depending on the property profile.

Documents Required for a Home Loan

To complete your Home Loan application, you will need to submit supporting documents for the personal, employment, income, and financial information you have mentioned on the form. The following is a checklist of the documents you must produce:

Mandatory Documents	PAN Card or Form 60
KYC Documents	Recent photograph, Voter ID Card, Aadhaar Card, valid Passport, valid Driving License
Proof of Income	3 months’ salary slips (for salaried and salaried professional applicants), P&L Statement (for self-employed applicants), ITR (for self-employed applicants), and Statements of your primary account for the last 6 months (for all applicants)
Business Proof	Proof of business vintage of 5 years or more (for self-employed and non-professional applicants)
Education Qualifications	MBBS and above (self-employed professionals- doctors) and valid COP (self-employed professionals- Chartered Accountants)
Property-related Documents	Title Deed, Allotment Letter, and Property Tax receipt

Home Loan Interest Rates

MortBuzz Solution offers competitive rates starting from 8.50%* p.a. for salaried applicants.

Fees and Charges on a Housing Loan

To know about the applicable Home Loan fees and charges, refer to the tables below:

Fee	Charge Applicable
Processing Fee	Up to 4% of the loan amount + GST as applicable
EMI Bounce Charges	Refer to the table provided below for the full break-up
Penal Charges	Click here to know about the penal charges

EMI Bounce Charges

Loan Amount	Charges
Up to Rs.15 Lakh	Rs.500
More than Rs.15 Lakh and up to Rs.30 Lakh	Rs.500
More than Rs.30 Lakh and up to Rs.50 Lakh	Rs.1,000
More than Rs.50 Lakh and up to Rs.1 Crore	Rs.1,000
More than Rs.1 Crore and up to Rs.5 Crore	Rs.3,000
More than Rs.5 Crore and up to Rs.10 Crore	Rs.3,000
More than Rs.10 Crore	Rs.10,000

Prepayment and Foreclosure Charge

Individuals with Home Loans linked to floating interest rates pay no additional charges on the prepayment or foreclosure of the housing loan amount. However, this may change for individual and non-individual borrowers who have loans for business purposes.

For individual and non-individual borrowers with floating interest rate loans for non-business purposes:

Borrower Type: Individual	Term Loan	Flexi Term Loan
Foreclosure Charges	Nil	Nil
Part-Prepayment Charges	Nil	Nil

For individual and non-individual borrowers with floating interest rate loans for business purposes and all borrowers with fixed interest rate** loans:

Borrower Type: Non-Individual	Term Loan	Flexi Term Loan
Foreclosure Charge	4%* on Principal Outstanding	4%* on the Sanctioned Amount during the Flexi Interest Only Loan Repayment Tenor; and 4%* on the available Flexi Loan Limit during the Flexi Term Loan Tenor
Part-Prepayment Charges	2%* on the Part-Prepayment Amount	NIL

*GST as applicable will be payable by the borrower in addition to the prepayment charges, if any.

**Nil for Home Loans closed by borrowers out of their own sources. Own sources refer to any source, other than borrowing from a bank/NBFC/HFC and/or a financial institution.\

Note: In the case of dual-rate Home Loans (fixed for the initial period and then floating), the foreclosure/part-prepayment charges will be applicable as per the status of the loan as on the foreclosure/part-prepayment date.

Purpose of Loan

Lease Rental Discounting Loans
Loans Against any Property availed for business purposes, i.e., working capital, debt consolidation, repayment of business loan, expansion of business, acquisition of business assets or any similar end usage of funds
Loan for purchase of non-residential properties
Loan against security of non-residential properties
Top-up Loans for business purposes, i.e., working capital, debt consolidation, repayment of business loan, expansion of business, acquisition of business assets or any similar end usage of funds

FAQs

1) What is Home Loan

A Home Loan is a secured loan obtained from a financial institution for the purpose of purchasing a home. You can apply for a housing loan to purchase a property. Housing loans are secured loans, wherein the property to be purchased serves as collateral against the loan amount. A certain extent of the property ownership remains with the lender, until the repayment amount has been repaid with interest.

2) Which Interest Rate Is Better

The current interest rates applicable to Home Loans differ based on the employment of the borrower. Salaried individuals can secure a Home Loan with Bajaj Housing Finance at interest rates starting from 8.50%* p.a., while self-employed applicants can avail of a Home Loan with interest rates starting from 9.10%* p.a.

3) What is Fees For Proccessing Home Loan

Which of the two is better depends on market conditions. Typically, a fixed rate of interest can be beneficial when the interest rates are on an upward trend. On the other hand, you can benefit from a floating rate of interest when the interest rates are on a downward trend. A floating rate of interest refers to a rate that varies over time. It is linked to a lender’s internal benchmark or an external benchmark. In other words, the interest rate increases or decreases in tandem with the linked benchmark rate. Thus, under favourable market conditions, a reduced benchmark rate may lower the total interest amount payable. On the other hand, a fixed interest rate remains the same till a predetermined reset date.

Overview

Features and Benefits of a Home Loan

Competitive Interest Rate of 8.50%

Home Loan Balance Transfer

Repayment Tenor of 40 Years

Hassle-Free Application

External Benchmark Linked Loans

Top-up Loan of Rs.1 Crore

Disbursal in 48 Hours

Customised Repayment Options