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Non-banking finance company Bajaj Finance said that it has launched a new home loan product where it will give its customers the option to start paying their instalments after three months of disbursements.
This will probably help the Pune-based company attract more customers as it aims to almost double its home loan portfolio to Rs 28,000 crore by the end of the financial year.
It should, however, not be assumed by customers that the company is waiving off the first three instalments. The three instalments will get added to the principal amount and interest will be charged on the same from the fourth month onwards.
“The option is currently available for all new Bajaj Finance home loan customers with a home loan requirement of Rs 25 lakh to Rs 15 crore,” the company said in a statement.
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