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Home Loan Starting 6.75%*

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Home Loan Balance Transfer

Our home loan balance transfer facility offers you the option of reducing your EMIs by shifting your outstanding loan from another bank or financial institution to Bajaj Housing Finance. You can avail of a sizeable top-up amount when you transfer your loan to us. The amount is free of any end-use restriction; use it to renovate your home or even go for a holiday. What’s more, you have a range of other benefits with Bajaj Housing Finance, including the option to extend your repayment tenor.

  • Attractive Rates

    Switch your home loan from your existing lender to Bajaj Housing Finance and enjoy attractive interest rates (starting 6.75%* for salaried applicants and 8.5%* for self-employed applicants) and better terms. Meet our simple eligibility criteria and submit basic documentation to ensure faster processing. 

  • Sizeable Top-up Amount

    Avail of a sizeable top-up loan free of end-use restrictions on your sanctioned home loan amount.

  • Part-Prepayment and Foreclosure Facility

    With our convenient part-prepayment and foreclosure facility available to individual buyers at zero cost, switching to Bajaj Housing Finance is a smart choice.

  • Flexible Repayment Tenor

    Simplify your repayment with flexible tenors ranging up to 30 years.

  • Minimal Documentation

    Our home loan eligibility criteria are easy to meet, and you can avail of the home loan balance transfer facility by submitting minimal documentation.

  • Easy Account Management

    Use our online customer portal to manage your loan account from anywhere and at any time.

  • Easy-to-Use Home Loan Calculators

    Use our simple and reliable home loan eligibility calculator to know more about your eligibility and approximate EMI amount. Make the most of benefits such as a top-up loan and hassle-free processing by switching your home loan to Bajaj Housing Finance today.

     

Home Loan Balance Transfer: Eligibility and Documents

You can apply for a Bajaj Housing Finance Home Loan Balance Transfer only for those properties that are ready to occupy or are already occupied. To avail of this offering, you should have paid more than 12 loan EMIs without any dues/bounces.

Home Loan Balance Transfer Eligibility Criteria 

For Salaried Individuals
These are the eligibility criteria for the Bajaj Housing Finance Home Loan Balance Transfer facility for salaried individuals:

  • You should be a resident of India
  • You must be between 23 and 62 years of age
  • You must be able to show a minimum of 3 years of work experience

For Self-Employed Individuals
These are the eligibility criteria for the Bajaj Housing Finance Home Loan Balance Transfer facility for self-employed individuals:

  • You must be a residing citizen of India
  • You must be between 25 and 70 years of age
  • You must be able to prove a vintage of minimum 5 years in your existing business

If you meet our eligibility criteria for a Home Loan Balance Transfer, submit the following documents* to apply:

  • KYC documents (identity and address proofs)
  • Photograph
  • Form 16 or latest salary slips (for salaried individuals) / TR document and P&L statement of the last two years (for self-employed individuals)
  • Previous six months’ bank account statements
  • Business proof documents, with minimum 5 years of continuity in the current business (for self-employed individuals only)

*Please note that the list of documents mentioned is indicative. During loan processing, additional documents may be needed. These requirements will be communicated to you accordingly.
 

How to Apply for a Home Loan Balance Transfer

To apply for a Bajaj Housing Finance Home Loan Balance Transfer, simply follow the below steps after clicking on our online application form.

Step 1

Submit your personal details, including your name, date of birth, address, and contact details.

Step 2

Submit your income details so that we can offer you the deal that suits your financial conditions the best.

Step 3

Submit your employment details.

Step 4

Submit the details of the property for which you need the balance transfer.

Step 5

View your home loan offer. You can also use our home loan balance transfer & Top up calculator to know the approximate amount of home loan and top-up loan you can avail of with us before you even apply

Step 6

Pay the secure fee online through our portal to reserve your offer. After this, our Relationship Manager will connect with you and help you take the home loan balance transfer process forward.

Transferring your home loan balance to Bajaj Housing Finance is quick and hassle-free. Begin your application here.

Home Loan Balance Transfer: Fees and Charges

The Home Loan Balance Transfer facility offered by Bajaj Housing Finance comes with an array of advantages that make the experience of transferring your home loan balance smooth and affordable. The charges and fees related to home loan transfer are fixed, which enables transparent processing and lets you manage your finances better.

Repo Rate

In the current monetary system, the Reserve Bank of India uses the repo rate as a money market tool to achieve several fiscal goals for the economy. Any increase or decrease in the repo rate affects the ROI of all financial lending institutions. The current repo rate is 4.00%.

Benchmark Rate (BR) Prevailing BR Loan Type Rate Type BR + Spread Effective ROI (p.a.)
Repo Rate (RR) 4.00% Home Loan Floating RR +2.75% to RR +8.00% 6.75%* to 12.00%*
Repo Rate (RR) 4.00% Top-up Floating RR +2.75% to RR +8.00% 6.75%* to 12.00%*
Salaried Floating Reference Rate (SAL-FRR) 12.90% Home Loan Floating FRR -6.15% to FRR +1.10% 6.75%* to 14.00%*
Salaried Floating Reference Rate (SAL-FRR) 12.90% Top-up Floating FRR -6.15% to FRR +2.10% 6.75%* to 15.00%*
Salaried Floating Reference Rate (SAL-FRR) 12.90% Loan Against Property Floating FRR -4.65% to FRR +0.90% 8.25%* to 15.00%*

 

Benchmark Rate (BR) Prevailing BR Loan Type Rate Type BR + Spread Effective ROI (p.a.)
Self-Employed Floating Reference Rate (SE-FRR) 13.3% Home Loan Floating FRR -5.05% to FRR +0.70% 8.25%* to 14.00%
Self-Employed Floating Reference Rate (SE-FRR) 13.3% Top up Floating FRR -5.05% to FRR +1.70% 8.25%* to 15.00%*
Self-Employed Floating Reference Rate (SE-FRR) 13.3% Loan Against Property Floating FRR -4.80% to FRR +4.70% 8.50%* to 18.00%*

 

Other Fees and Charges

TYPE OF FEE CHARGES APPLICABLE
Processing Fee Up to 6% of the loan amount
Loan Statement Charges NIL
Interest and Principal Statement Charges NIL
EMI Bounce Charges Up to Rs. 3,000
Penal Interest Up to 2%
Secure Fee Up to Rs. 4,999 (one-time)

 

Part-Prepayment and Foreclosure Charges

BORROWER TYPE: INDIVIDUAL TERM LOAN FLEXI LOAN
Time Period (months) >1 >1
Foreclosure Charges Nil Nil
Part Payment Charges Nil Nil

*For purposes other than business

BORROWER TYPE: NON-INDIVIDUAL TERM LOAN FLEXI LOAN
Time Period (months) >1 >1
Foreclosure Charges 4% * on the Principal Outstanding 4%* on the Sanctioned Amount during the Flexi Interest Only
Loan Repayment Tenor;
and
4%* on the available Flexi Loan Limit during the Flexi Term Loan Tenor
Part-Payment Charges 2% * on the Part-Payment Amount NA