The Home Loan EMI amount is dependant on three key aspects: Home Loan Principal Amount: This amount is the Home Loan sanction amount and has a direct impact on your Home Loan EMI. The larger your Home Loan amount is, the bigger your Home Loan EMI may be. Home Loan Interest Rate: The Home Loan interest rate is the rate at which you have to repay the principal amount. Naturally, a high interest rate leads to a steeper EMI amount. Bajaj Housing Finance also allows borrowers the opportunity to link their interest rate to the RBI Repo Rate. Home Loan Repayment Tenor: The repayment tenor is the total time you can take to repay your Home Loan amount in full. A longer tenor can facilitate smaller EMIs but can add to your total cost of borrowing. You can also use the Home Loan EMI Calculator to pre-emptively calculate your EMI amount before you apply for a Home Loan.

Yes, Bajaj Housing Finance does allow individuals with floating interest rate Home Loans to repay ahead of schedule without any additional fees. Here are the two ways in which one can consider doing so: Part-prepayment: By making part-prepayments on your Home Loan, you can make lumpsum payments over your regular EMI payments, and bring down your repayment amount ahead of your repayment schedule. Foreclosure: By foreclosing your Home Loan, you essentially repay the full outstanding amount in one go, before the end of your repayment tenor.

Yes, both you and your spouse can be joint applicants on your Home Loan. There are several benefits of applying for a joint Home Loan, some of which are: Increased Home Loan eligibility Increased Income Tax savings Increased Ease of Home Loan Repayment

Having a co-applicant usually helps Home Loan applications as it increases your loan eligibility and bolsters your repayment capacity. Applicants who fall short of meeting the eligibility criteria are advised to apply with strong co-applicants to enhance their Home Loan application.

Bajaj Housing Finance allows borrowers to repay their Home Loans at their own pace, with a repayment tenor that can stretch up to 40 years, basis their eligibility.