Home Loan Festival Offer: Avail Home Loan at Affordable Interest Rate @8.45%

RBI is most likely to maintain the status quo in monetary policy of home loan rate for the fourth time in October amidst ballooned retail inflation. Most economists expect that the repo rate will remain unchanged at 6.5%. 

Therefore, this is a great time to invest in something big. With the festive season approaching as well, many banks and Non-banking Financial Companies are gearing up to offer the best deals on credit products such as home loans. 

One of the best options people can try out is the festive offer on home loan that is being offered by many of the major banks and financial institutions.  

About festive offer on home loan

This festive season, a number of financial institutions like Bajaj Housing Finance have come up with their best interest rate on home loan, starting just at 8.45% p.a. for salaried individuals. 

This offer is valid for all the home loans disbursed from September 13th 2023 to November 12th 2023. CIBIL score for home loan Diwali offer is fixed at a minimum of 750 or even more. All the customers who opt for this unique benefit can pay an equated monthly instalment of just Rs.729 per lakh. 

Features and benefits of home loan festive offer

People who avail festive housing loan from financial institutions like Bajaj Housing Finance get to utilise a host of their features and benefits. Let us take a look at them in further detail:

Hassle-free application process

Applicants can sit in the comforts of their home and complete the entire home loan application process online. They can completely skip the need for visiting the branch by opting for doorstep document collection.

Super-fast loan disbursal

Once the home loan application is approved and documents are verified, the loan will be disbursed within 48 hours.

Long repayment tenor

Often, loan repayment becomes a burden for the borrowers. To change this scenario, financial institutions like Bajaj Housing Finance offer a loan repayment tenor of up to 40 years. This helps the borrowers repay the loan amount according to their pace and as per their comfort.

Huge loan amount

While choosing the home of their dreams, prospective homeowners do not have to compromise for the sake of budget. A number of financial institutions offer a huge loan amount provided the applicant meets the eligibility criteria.

Customisable repayment option

Borrowers can customise their repayment options as they find fit. They might start by paying just a part of the EMI to get acclimated with EMI payments. Most financial institutions offer the opportunity to purchase both under-construction as well as ready-to-move-in properties.

Online tools for better financial planning

To help prospective borrowers check whether they meet home loan eligibility criteria,  lenders like Bajaj Housing Finance offer a loan eligibility calculator. Applicants can also use an online home loan calculator for EMI calculation while planning home loan repayments and applications.

Online loan management

To get real-time access to all the data related to one’s home loan, borrowers can log in to the customer portal of their lender. This helps in managing all the loan-related details and documents properly.

Large number of options to choose from

While searching for their dream home, prospective homebuyers can check out the list of pre-approved projects that major financial institutions have. Therefore, if they end up liking any one property out of the list, it will come with a host of benefits, like quick loan processing.

There are some banks and other financial institutions that offer pre-approved loans for their long-standing customers. If customers opt for this loan then they can get a lot of benefits like faster loan disbursal. Prospective borrowers can visit the official website of the lender to check whether they are eligible for such a home loan.

How to avail home loans at affordable rates?

Availing a home loan is extremely simple these days. Applicants need to follow only a few steps. Here are the steps for anyone who is interested:

Step 1: Visit the official website of the lender.

Step 2: Navigate to the housing loan application form.

Step 3: Fill up the entire form by providing essential information like full name, mobile number, income details, employment type and PIN code of area of residence.

Step 4: Enter the OTP that is requested and complete the remaining steps of the application process.

Eligibility criteria for availing festive offer on home loan

In order to get loan approval, applicants need to make sure they meet the home loan eligibility criteria. Lenders have different sets of eligibility criteria for different employment types. People who are planning to avail a home loan in this festive season can check the list given below:


Indians who are residing in India, as well as Non-resident Indians, can apply for the loans if they are salaried individuals. In case of self-employed individuals, only Indians are eligible.


For salaried individuals, a minimum experience of 3 years in any public sector, private sector or Multi-national company is required. However, in case of self-employed individuals, a minimum of 5 years vintage in the current enterprise is necessary.


In case of salaried individuals, the age limit is between 23 and 75 years. In case of self-employed individuals, the age limit is 25 to 70 years. The upper age limit is taken into consideration as per the maturity date of the loan. In case of salaried individuals, the upper age limit is subject to change according to the property profile.