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Home Loan Balance Transfer

Home Loan Balance Transfer

Home loan balance transfer offers you the option of reducing your EMIs by shifting your outstanding loan from other banks and financial institutions to Bajaj Housing Finance Limited. You can benefit from better terms on your loan, our additional top-up loan facility and features such as a long repayment tenor and an attractive interest rate.

By availing a home balance transfer from Bajaj Housing Finance Limited, you can get the following benefits:

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    Convenient balance transfer process

    Switch your home loan from your existing lender to Bajaj Housing Finance Limited at attractive interest rates and better terms. Meet our simple eligibility criteria and submit your basic documents to ensure faster processing.

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    High top-up loan amount

    Avail a top-up loan up to 50% of your sanctioned home loan amount. Use the money to finance requirements such as the interiors of your home, a new car, or your child’s education.

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    From search to purchase

    Our property search services will assist you in finding the perfect home for you and your family.

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    Customized report for your home

    Get a tailor-made report that will give you 360-degree insights into the legal and financial aspects of being a homeowner.

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    Part-prepayment and foreclosure facility

    With a convenient part-prepayment and foreclosure facility at zero cost, a switch to Bajaj Housing Finance Limited is a sensible choice.

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    Suitable tenors

    Simplify your repayment with flexible tenors ranging up to 20 years.

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    Minimal documentation

    Your home loan balance transfer facility comes with minimal documentation requirements and an easy to meet eligibility criteria to ensure a hassle-free application procedure.

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    Easy account management

    Access the customer portal online and manage your loan account from anywhere and at any time.

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    Hand-picked insurance schemes

    Select the best insurance scheme and safeguard your family against the burden of repaying the home loan in case of an unforeseen event.

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    Easy-to-use home loan calculators

    Use our simple and reliable calculators and learn about your home loan eligibility, your approximate EMI amount, and the benefits of transferring the rest of your home loan to Bajaj Housing Finance Limited Make the most of benefits like top-up loans and hassle-free processing when you switch your home loan to Bajaj Housing Finance Limited, and purchase your dream home with ease.

Home Loan Balance Transfer: Eligibility and Documents

Home Loan Balance Transfer Eligibility Criteria

For salaried individuals

The following are the eligibility criteria for Bajaj Housing Finance Limited Home Loan Balance Transfer:

  • You should be a resident of India
  • You should belong in the age bracket of 23-62 years
  • You should be a salaried individual with work experience of at least three years

For self-employed individuals

Bajaj Housing Finance Limited Home Loan Balance Transfer eligibility criteria are easy to meet. They are as follows:

  • You should be a residing citizen of India
  • You should be between 25 and 70 years of age
  • You should be a self-employed individual with minimum five years of continuity in your existing business

Once you have cleared all the eligibility criteria for a home loan balance transfer, you must submit the following documents*:

  • 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 five years of continuity in the current business (for self-employed individuals/businessmen 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.

Frequently Asked Questions

1. Is having a co-applicant when applying for a home loan a mandate? If yes, who can be a co-applicant?

A. It is not compulsory to have a co-applicant. If someone is the co-owner of the property under review, it becomes necessary to have them as a co-applicant for the home loan. If you are the sole owner of the property, you may take any immediate family member to be the co-applicant.

2. Can the EMI amount be raised through the life of a loan?

A. Yes, you can choose to raise the EMI amount as per your convenience at any time during the loan tenor. Capitalising on this facility, you can shorten the loan tenor and save a sizeable share towards the loan. To avail this option:
•Log on to the Customer Portal, or
•Write to wecare@bajajfinserv.in

3. What is the basis of internal FRR changes?

A. Internal FRR is the standard reference rate. This is gauged based on market conditions and cost of funds for the company. These changes are influenced by several external factors and economic pointers.

4. What is the frequency of interest rate change?

A. As per our re-pricing policy, home loan and home loan balance transfer interest rates are scrutinized every two months and an informed decision is taken accordingly whether to keep the rates intact or unchanged.

How to apply for Home Loan Balance Transfer

To apply for a Bajaj Housing Finance Limited Home Loan Balance Transfer, simply follow these steps after clicking on our online application form:

Step 1

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

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Step 2

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

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Step 3

Submit your employment details.

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Step 4

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

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Step 5

View your home loan offer. You can also use our simple yet sophisticated balance transfer eligibility calculator, to know how much home loan and top-up loan you can get with us before you even apply.

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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.

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

Home Loan Transfer: Fees and Charges

A home loan balance transfer with Bajaj Housing Finance Limited comes with an array of advantages that make your experience of availing home loan balance transfer smooth and affordable. The charges and fees pertaining to home loan transfer are fixed, which enables transparent processing and lets you manage your finances better.

Type of Fees and Interest Rates

Charges Applicable

Interest rate for salaried individuals
BHFL-SAL FRR* – Margin = 8.60%** to 10.30%
Interest rate for self-employed individuals
BHFL-SE FRR* – Margin = 9.35% - 11.15%
*BHFL-SAL FRR (Bajaj Housing Finance Limited Floating Reference Rate for salaried customers)
12.90%
*BHFL-SE FRR (Bajaj Housing Finance Limited Floating Reference Rate for self-employed customers)
13.30%
Processing fees
1.Upto 3% of the Loan amount
2.Upto 6% of the Loan amount- **For Rural & Professional Loans Business
Loan Statement Charges
NIL
Interest and principal statement charges
NIL
EMI bounce charges
Rs.3,000 per bounce
Penal interest
2% per month
Secure fee
Rs.9999

*Applicable following 1st EMI clearance.

**Please refer the Rural Locations-

Koratagere, Adoni, Nandurbar, Pali, Krishnarajpet, Gooty, Narayangaon, Paloda, Kurundwad, Guntakal, Natepute, Parbatsar, Kushtagi, Pamidi, Osmanabad, Partapur, Maddur, Pattikonda, Pachora, Pilibanga, Madhugiri, Penukonda, Pandharpur, Pindwara, Maktal, Yemmiganur, Parola, Rajgarh, Mandya, Amreli, Phaltan, Ratangarh, Manvi, Anjar, Pimpalgaon, Rawatsar, Moodbidri, Atul, Rahuri, Sadulshahar, Muddebihal, Babra, Rajgurunagar, Sagwara, Mudhol, Bagasara, Ratnagiri, Sangariya, Puttur, Balasinor, Sakri, Shahpura, Raichur, Bardoli, Sangamner, Sheoganj, Ramanagara, Bayad, Sangola, Sikar, Rayadurg, Becharaji, Saswad, Sirohi, Saidapur, Bhuj, Satana, Sojat, Sandur, Bodeli, Satara, Sri Vijainagar, Singdi, Borsad, Shahada, Sujangarh, Sira, Chalala, Shikrapur, Suratgarh, Siruguppa, Chanasma, Shirpur, Thanagazi, Sirvar, Chikhli GJ, Shirur, Dharmapuri, Sullia, Dahegam, Shirval, Gingee, Talikoti, Dahod, Shrirampur, Mettur, Tiptur, Deesa, Sinnar, Tiruvannamalai, Toranagallu, Devgadh Baria, Talegaon Dabhade, Tindivanam, Tumkur, Dhanera, Talode, Tirukkoyilur, Vijayapura, Dharampur, Tasgaon, Villupuram, Yadgir, Dholka, Tembhurni, Ahmedpur, Amarpatan, Dhrangadhra, Tuljapur, Ambad, Ashok Nagar, Dhrol, Vaduj, Ambhajogai, Ashta, Fatehpura, Vaijapur, Arni, Bada Malhera, Gadhshisha, Vita, Arvi, Badnagar, Gondal, Wai, Ashti, Basoda, Halol, Warananagar, Bhandara, Burhanpur, Halvad, Yawal, Buldhana, Chhatarpur, Harij, Butibori, Chhindwara, Himatnagar, Chandur Railways, Chirmiri, Idar, Chikhli, Devendranagar, Jasdan , Darwha, Gadarwara, Jetpur, Deulgaon Raja, Guna, Jhalod, Digras, Hoshangabad, Junagadh, Hinghanghat, Jaora, Kadi, Hingoli, Kareli, Kamrej, Jalgaon Jamod, Khandwa, Kapadwanj, Jalna, Khargone, Keshod, Jamner, Maihar, Khambhat, Kalmeshwar, Malhargarh, Kheda, Kamptee, Manasa, Kosamba, Karanjalad, Mandsaur, Limbdi, Katol, Mangawan, Limkheda, Khamgaon, Mauganj, Lunavada, Latur, Mundi, Manavadar, Malkapur, Narsinghpur, Mandvi, Mangrulpir, Nasrullaganj, Mandvi Kutch, Mehkar, Neemuch, Mangrol, Morshi, Nowgonj, Mansa GJ, Mouda, Panna, Mehsana, Merud, Parasia, Modasa, Narkhed, Pipariya, Morbi, Ner, Raghogarh, Mundra, Nilanga, Raisen, Nadiad, Pavani, Rajnagar, Navsari, Pulgaon, Ratlam, Padra, Pusad, Rewa, Palanpur, Ramtek, Sanavad, Patan GJ, Raver, Satna, Prantij, Risod, Sauhar, Sachin, Sakoli, Saeore, Sanand, Sillod, Seoni, Santrampur, Sindi Railways, Seoni Malwa, Satlasana, Tumsur, Shajapur, Savarkundla, Udgir, Shujalpur, Siddpur, Umred, Vidisha, Silvassa, Varangaon, Alephata, Songadh, Wardha, Chakur, Surendranagar, Warud, Khalapur, Thangadh, Washim, Lanja, Umreth, Yavatmal, Mangalweda, Unjha, Akluj, Paras, Upleta, Amalner, Umarkhed, Vansda, Baramvati, Alwar, Vijapur, Barshi, Badigora, Viramgam, Bhigwan, Banswara, Visavadar, Chalisgaon, Beawar, Visnagar, Chopda, Bijainagar, Vyara, Daund, Chittorgarh, Wankaner, Dhule, Chomu, Athani, Dindori MH, Didwana, BC Road, Dudu, Badami, Erandol, Ghatol, Bagalkot, Ghoti, Gulabpura, Bellary, Indapur, Hanumangarh, Belthangadi, Kalamb, Jaitaran, Bidadi, Kalwan, Jhalawar, Bijapur, Kamshet, Kapasan, Bilagi, Kannad, Khairthal, Channapatna, Karad, Khanpur, Chikkaballapur. Karamala, Kishangarh, Devadurga, Kopergaon, Kishangarh, Devanahalli, Koregaon, Kotputli, Doddaballapur, Kurudwadi, Kuchaman, Gangavathi, Lasalgaon, Ladnun, Hagaribomannahalli, Lonand, Laxmangarh, Hoskote, Lonavla, Losal, Hospet, Loni BK, Nawalgarh, Ilkal, Malegaon, Neem ka Thana, Indi, Manmad, Neemrana, Jamkhandi, Mohol, Nimbahera, Kollegal, Mohopada, Padampur, Koppal, Nandgaon.

**Please refer the Professional Loans Business

Ahmedabad, Bangalore, Bhubaneshwar, Chennai, Delhi, Hyderabad, Indore, Jaipur, Kolkata, Mumbai, Nagpur, Nashik, Pune, Surat, Vizag, Cuttak, Dewas, Ujjain, Navi-Mumbai, Vashi-Mumbai, Thane, Ghaziabad, Faridabad, Gurgaon, Noida.

Foreclosure Charges

Borrower Type: Interest Type

Time Period

Foreclosure Charges*

Individual: Floating rate
More than 1 month from date of loan disbursal
Nil
Non-individual: Floating rate
More than 1 month from date of loan disbursal
4% + taxes applicable
All borrowers: Fixed rate
More than 1 month from date of loan disbursal
4% + taxes applicable

*In case of term loan, charges are calculated on the remaining principal amount

*In case of flexi interest-only loan, charges are calculated on the sanctioned limit.

*In case of flexi term loan, charges are calculated on the present dropline limit.

Part-prepayment Charges

Borrower Type: Interest Type

Time Period

Part-prepayment Charges*

Individual: Floating rate
More than 1 month from date of loan disbursal
Nil
Non-Individual: Floating rate
More than 1 month from date of loan disbursal
2% + taxes applicable on the amount paid
All borrowers: Fixed rate
More than 1 month from date of loan disbursal
2% + taxes applicable on the amount paid

*Part-prepayment made should be more than 1 EMI.

*These charges are not applicable for the Flexi interest-only and Flexi term facilities.

Contact Details

Contact Us

You can contact us online or offline, as per your convenience.

Online:

Email us your query at <insert email id here>

Phone:

Call us on our toll-free customer care number at <insert number>

Offline:

For offline assistance, you can also visit us at our branch office: