What is the maximum loan against property that I can get from Bajaj Finserv Lending?
We offer up to Rs. 21 Crores as Loan against Property and 50 Crores as Lease Rental Discounting
How do you determine my eligibility for a loan and the loan amount?
We consider the following factors to determine eligibility and loan amount
- Valuation of Property (Fair market value)
- Existing obligations, if any
- Stability/Continuity of employment/Business
If a property is jointly owned by an individual and his/her relatives, can he/she take a loan against this property?
All the co-owners of the considered property need to come in as co-applicants to the loan.
On what basis does the internal FRR change?
Internal FRR is the benchmark reference rate. This is determined based on the market conditions and the cost of funds for the company. This changes depending on
various external factors and economic conditions.
How often do Interest rates change?
As per our re-pricing policy, interest rates are reviewed every two months and decision is taken whether to change the interest rates or keep it unchanged.
I have taken a loan just one month back. How does change in interest rates work for me?
As per our internal pricing policy re-pricing policy, interest rates will be changed only for those cases which are at least 3 months old. In your case, change
in FRR will not have an immediate impact on interest rate of your loan. However once your loan is 3 months old, any changes in FRR in last 3 months will change your
effective rate basis the margin on your loan.
What is the current Floating Reference Rate?
Current Internal Floating Reference Rate (Bajaj FRR) is 20.15% effective since 5th March 2014.
What is the impact of change in Interest Rate?
The increase/ decrease in the Interest rate will by default increase/decrease the tenor of the loan with no change in the existing EMI.
What if I don’t want my tenor to change as a result of change in the Interest rate? Can I change my EMI and or do I have any other options?
You can increase / reduce your EMI with no change in tenor. You can make a part pre payment and keep both the EMI and the tenor the same as earlier These
options are available to you without any additional fee. Please call our helpline number 1800-209-4151 for more details.
Are the interest rates going to change in the future?
These are market-determined rates and it is not possible for us to predict interest rate movements ahead of time.
Can I repay the loan ahead of schedule?
Yes, you can repay the loan ahead of schedule, without the payment of any foreclosure charges subject to clearance of the first EMI
What is my new EMI? OR How much has my EMI changed by? Will my current EMI cheques/ECS have to be changed and where do I have to submit them?
This rate reduction may impact your EMI or tenor. We will be sharing a communication regarding the change in tenor or EMI by way of a letter. In case your EMI
undergoes a change, you need to submit revised payment instrument to us at your nearest branch. Please call us at our central helpline number or write to us at
firstname.lastname@example.org for more details.
Can Bajaj Finance Limited change the Spread between BFRR and customer rate of interest?
The Spread between BFRR and Customer Rate of Interest is fixed and will not change except in situation where customer rate is higher than Max Rate Cap as per Proactive Repricing Policy*. Change in spread will always be done to give advantage of BFL Max Rate Cap as per Proactive Repricing Policy to customer and maintain customer rate at Max Cap Rate. In case of decrease in BFRR no change in spread / margin will be done.
*Refer Proactive Repricing Policy in Section Agreement and T&C of Loan against Property
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