How Bajaj Finance Home Loan Interest Rates Give Tax Benefits?

Bajaj Finserv provides home loans to customers for buying and constructing a property. The housing finance institution provides a loan amount up to INR 3.5 crore. And it levied an interest of 8.35% per annum on the borrowed amount. Bajaj Finserv not only gives you the benefit of lowest interest and the highest loan amount. But, you can also get various tax benefits on Bajaj Finance home loan interest rates. Read the article given below and know about the loan tax rebate options.

Tax Deductions on Bajaj Finance Home Loan interest rates

You can borrow the desired loan amount from Bajaj Finserv for your home finance for a repayment period of 30 years maximum. And the interest applied to your loan amount starts from 8.35% per annum. But you must be aware of the tax benefits the Bajaj Finance Limited offers to you. If you don’t know about them then pay attention. Because as you know, in the latest union budget of 2020 the Finance minister declared an optional tax regime. So, if you wish to get the tax benefit on your home loan then the old tax slab is suitable for you. As it provides benefit to the borrower under section 24b, section 80C and the section 80EE.

How to avail Bajaj Finance Home Loan tax allowance?

To get the tax exemptions on the Bajaj Finance Home loan interest rates, your property must be constructed within 5 years. Only then you would be able to claim the tax benefit of INR 2 lakh on your home loan. And the individual must self-occupied the property otherwise, the benefits will drop to INR 30,000. You can get the benefit of tax exemptions if you follow the old tax regime and not the optional one. The amount will be credited in 5 equated monthly installments over 5 years of the period.

It must be noted that the ITA section 24b is applied only for the property construction and not for the ready-built house. You can earn pre-construction tax benefits on the Bajaj Finance home loan amount under section 80C. With the help of which you can save up to INR 1.5 lakh on home finance. Also, you can earn additional benefits if you finance your first home with Bajaj Finserv. Because you will get section 80EE benefit and save INR 50,000 on the payment of Bajaj Finance home loan interest rates.

Apply for a home loan from Bajaj Finance

Visit the official website of Bajaj Finserv and then select “Home Loan” from the products. And then click on the “Apply Now” button to fill the online application form. Bajaj Finance Home loan interest rates are both fixed and floating. You can choose the type of interest according to your payment suitability. The floating rate of interest on the home loan is starting from 12.90% and depends on the prime lending rate. So, finance your home with Bajaj Finance and get several tax benefits on your home loan. The loan amount and the interest is paid using ECS, or auto-debit, you can opt for the suitable payment methods for a regular EMI payment.