Calculate Your Home Loan Balance Transfer Benefits
What is a Home Loan Balance Transfer Calculator?
A Home Loan Balance Transfer is a financial facility through which you can transfer your existing Home Loan to Bajaj Housing Finance for better loan terms and reduced interest rates. Before you go ahead with Home Loan refinancing, you can use our Home Loan Balance Transfer Calculator to assess the amount of savings you can make.
Having your calculations done beforehand can help you make a more informed decision in regard to whether a Home Loan Balance Transfer will be beneficial for you.
Using a Home Loan transfer calculator saves you the effort of calculating the savings manually. Performing manual calculations can be tiresome and also prone to errors. Prepare your balance transfer plan with ease and hassle-free calculations for a quick Home Loan approval.
How to Use the Bajaj Housing Finance Home Loan Balance Transfer Calculator?
Follow these simple steps to use our Home Loan Balance Transfer Calculator:
- Select your existing lender from the dropdown menu.
- Select your property location from the given list.
- Enter the date when your existing loan was sanctioned.
- Next, enter or use the slider to add the loan amount, interest rate, and tenure of your existing loan.
- Finally, use the slider or enter the current interest rate of the Bajaj Housing Finance Home Loan Balance Transfer.
The total amount saved with a Home Loan Balance Transfer will be displayed on the screen.
Home Loan Balance Transfer Interest Rate
Home Loan Balance Transfer is a financial facility through which you can transfer the balance on your existing Home Loan to Bajaj Housing Finance for a more competitive interest rate and better borrowing terms.
Transfer your Home Loan to us to enjoy interest rates as low as 7.60%* p.a. for salaried and professional applicants, with EMIs starting from Rs.746/Lakh*. You also benefit from hassle-free processing, with minimal documentation, doorstep document pick-up service, and speedy processing.
Features of Home Loan Balance Transfer
Sizeable Top-up Loan of Rs.1 Crore* or higher
Eligible applicants with the right credit, income, and financial profile can avail of a sizeable Top-up Loan that can be used for any housing purpose.
Flexible Repayment Tenure
Individuals can opt for an extended repayment tenure basis eligibility.
No Prepayment or Foreclosure Charges
Individuals with a floating interest rate Home Loan do not pay any additional charges when they prepay or foreclose their loan during their tenure. Note that this may change for individual or non-individual borrowers who have availed of a loan for business purposes.
External Benchmark Linked Loans
Borrowers also have the option to link their Home Loan interest rate to an external benchmark, such as the Repo Rate.
Benefits of Using Housing Loan Balance Transfer EMI Calculator Online
Utilising our online Home Loan Balance Transfer Calculator offers several benefits. Firstly, this quick and automated tool saves the time and effort of calculating the savings manually.
Moreover, the calculator is entirely free to use, making it a cost-effective resource. By utilising it, you can precisely determine the potential savings achievable through transferring your Home Loan. This valuable information empowers you to conduct a thorough cost-benefit analysis, assisting you in making an informed decision on whether a balance transfer is a viable option for your financial situation.
Additionally, the calculator provides valuable data that can aid in planning your current and future finances, granting you better insights into your potential savings. Overall, leveraging the online Home Loan Balance Transfer Calculator can be a wise step in managing your finances efficiently.
Home Loan Balance Transfer Eligibility Criteria
Based on the employment type, applicants need to meet the following criteria:
- Should be an Indian citizen (including NRIs for salaried applicants only)
- Should be able to show steady income, either through a salary or through a business
- Salaried applicants should be aged 23 to 62 years**
- Self-employed applicants should be aged 23 to 70 years**
**The upper age limit is considered as the age at loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.
How to Apply for Home Loan Balance Transfer?
If you wish to apply for a balance transfer with us, follow the simple steps given below:
- Visit our Home Loan application form.
- Enter your full name and select your type of occupation and type of loan.
- Enter your net monthly income, PIN code, and required loan amount.
- Click ‘Generate OTP’ and enter the received OTP in the respective field. After entering the OTP, click ‘Proceed'.
- Enter the financial details as requested and complete the form. (Note: The fields that you need to fill may vary basis your employment type.)
- Click on ‘Submit’.
Our representative will call you in 24 hours* and explain the documentation you will need to submit to support your application.
*Terms and conditions apply.
Disclaimer
This calculator is provided for general information purposes only and should not be considered as financial advice. The results obtained from the calculator are estimates based on your inputs and may not reflect the actual terms or conditions of any loan. Users are responsible for verifying the accuracy of the calculator. Actual loan figures may vary based on specific loan products, interest rates, individual financial circumstances, and parameters laid down by Bajaj Housing Finance Limited (‘BHFL’).
Users are advised to consult with a qualified financial advisor to obtain accurate and personalized advice regarding their specific loan needs. The use of and the results of this calculator do not guarantee approval for a loan. Sanction and disbursal loans are at the sole discretion of BHFL. The calculator does not take into account the potential fees or charges levied while availing the loan. Users should carefully review the terms and conditions of any loan agreement before making financial decisions.
By using this calculator, the Users agree that placing reliance on the aforementioned information shall always be the sole responsibility and decision of the User and the User shall assume the entire risk of any use made of this information. In no event shall BHFL or the Bajaj Group, its employees, directors or any of its agents or any other party involved in creating, producing, or delivering this Website shall be liable for any direct, indirect, punitive, incidental, special, consequential damages (including lost revenues or profits, loss of business or loss of data) or any damages whatsoever connected to the User’s reliance on the aforementioned information.
Frequently Asked Questions
Anyone who wants to transfer their Home Loan balance for better loan terms can use our Home Loan Balance Transfer Calculator. It allows you to estimate the savings made by opting for a balance transfer. Some of the reasons why you may want to transfer your loan include lower interest rates and better services.
If you are an individual borrower and have a floating interest rate Home Loan, you don’t have to worry about the prepayment penalty when switching to a new lender. However, other types of Home Loans may attract charges on prepayment and foreclosure.
The total amount you can save by transferring your Home Loan balance depends on factors like the new interest rate, additional fees on the new loan, and foreclosure/prepayment charges on the old loan (if applicable). Use the Home Loan Balance Transfer Calculator to check the exact amount of savings you can make.
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