Though to bridge this gap between multiple visits to a branch and getting a loan, many banks are offering E-home loan in recent times. The recently launched E-home loan offered by Bajaj Housing Finance Limited (BHFL) is convenient as the borrowers can get their digital sanction letter within 10 minutes of applying.
With these E-Home Loans, borrowers can fulfill all their mortgage requirements online. Read on to know more about the digital sanction letter and loan application process offered by the lender.
Digital sanction letter for Home Loan-A sanction letter is a document issued after the home loan sanction process by the lender prior to the borrower getting the final home loan agreement. While applying for an E-home Loan from BHFL, borrowers get a digital sanction letter from the lender. This sanction letter is conditional where underwriting process will be followed post submission of income and property documents as well as KYC and other documents. However, BHFL has sole right to decline the same.
Benefits of a digital sanction letter
With Bajaj Housing Finance Limited E-Home Loan, borrowers can avoid undergoing the process of heaps of paperwork and can simply get their digital sanction letter within 10 minutes of applying. This letter is valid for 6 months. A home loan sanction amount is usually based on financial & collateral eligibility. The digital sanction letters will have information about the proposed loan, i.e. the total amount to be sanctioned, the interest rate, base rate on which it has been calculated, whether the rate is fixed/floating and the tenor of the loan along with other terms and conditions.
After carefully reading and accepting all the terms and conditions of the lender, borrowers can apply for an E-home Loan from BHFL by following these simple steps:
- Visit the Bajaj Housing Finance Limited website and fill their details in the online loan application form and submit.
- After submitting the form online, a loan offer is generated. This helps the borrower know his/her loan eligibility without having to visit any branch.
- Loan applicants can simply download a digital sanction letter by paying a nominal fee. This sanction letter comes with a validity of 6 months (T&C apply).
- To apply and avail the loan, borrowers can connect with BHFL on the email id or phone number provided in the digital sanction letter within the 6-month validity period.
Click here to initiate the application process to avail an E-Home Loan from BHFL.
