Bajaj Housing Finance Ltd (BHFL) has launched a new “Dual Rate” feature for Home Loans and Loans Against Property, aiming to provide borrowers with convenient repayment options. With this feature, borrowers can enjoy a fixed interest rate for the first three years of their loan tenure, followed by a floating interest rate linked to the BHFL Floating Rate Reference (FRR) after three years. This allows borrowers to benefit from predictability in their repayment obligation and adapt to market changes.
The Dual Rate feature is applicable to salaried and self-employed individuals, as well as existing and prospective borrowers looking to avail of a new Home Loan or transfer an existing one. BHFL, a subsidiary of Bajaj Finance Ltd, is a leading non-banking financial company (NBFC) in India, offering a range of finance products and services to individuals and corporate entities.