Bajaj Housing Finance is venturing into the affordable housing finance sector and has launched Sambhav Home Loans today targeting first time home buyers with affordable income criteria.
The income norm for first-time homebuyers, under this new product, starts from Rs. 10,000 per month, with loan amounts as low as Rs. 10 lakh, hence making this an accessible option for prospective borrowers across a wide range of income groups.
Both salaried and self-employed applicants from a range of employment types including from the informal sector are eligible for finance as part of this product.
Borrowers will have attractive interest rates with affordable EMIs and the option to choose a repayment tenor of up to 20 years.
With this, Bajaj Housing Finance will offer a full suit of offerings in the housing finance sector covering all customer categories.
Earlier last month, the company filed its preliminary papers with SEBI to raise ₹7,000 crore via an initial public offering (IPO). The proposed IPO comprises fresh issue of equity shares of up to ₹4,000 crore and an offer for sale of equity shares worth ₹3,000 crore by parent Bajaj Finance Ltd.
