Bajaj Housing Finance Ltd (BHFL) has entered the affordable housing segment with the launch of its ‘Sambhav Home Loans’ product targeted at the unserved and underserved customer segments.
The income norm for first-time homebuyers, under this new product, starts from ₹10,000 per month, with loan amounts as low as ₹10 lakh.
The income criterion makes the home loan accessible to prospective borrowers across a wide spectrum of income groups, a BHFL release stated.
“Both salaried and self-employed applicants from a range of employment types, such as manufacturing, trading, and the informal job sector, among others, are eligible for finance....
“The eligibility, documentation, and application process for Sambhav Home Loans have been kept flexible to accommodate all such employment types,” the company, which is a subsidiary of Bajaj Finance Limited, said.
BHFL has filed 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.