Loan Against Property Balance Transfer – Features and Benefits

Loan against property balance transfer provides you with the option to pay reduced EMIs by shifting your outstanding loan from your existing bank or financial institution to Bajaj Housing Finance Limited. Long repayment tenors, affordable interest rate, and an additional top-up loan facility are some of the key benefits that you get when you transfer your loan against property to Bajaj Housing Finance Limited.

  • Hassle-free balance transfer process

    Transfer your loan against property to Bajaj Housing Finance Limited from your existing lender at competitive interest rates and better terms. Fulfil our easy eligibility criteria and submit your relevant documents to ensure quick processing.

  • High top-up loan amount

    Fund your requirements such as home interiors, wedding planning, or your child’s education with an additional top-up loan of your sanctioned loan amount.

  • Quick disbursal

    Transfer your loan balance quickly in just 72 hours, with India’s fastest loan against property balance transfer application process.

  • 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.

  • Flexible tenors

    Get a long repayment tenor ranging up to 20 years if you are salaried, and up to 18 years if you are self-employed.

  • Minimal documentation

    Meet simple eligibility criteria and submit just a few documents, for a convenient and quick application process.

  • Convenient account management online

    Login to our customer portal and manage your loan account online, without having to visit a nearby branch.

  • Dependable loan calculators

    Use our simple and reliable calculators to know your loan amount eligibility, approximate EMI amount, and how much money you can save by transferring your outstanding loan against property to Bajaj Housing Finance Limited.

A loan against property helps you meet a wide range of financial needs with ease. You can use it to finance your child’s wedding or higher education abroad, take an exotic vacation, renovate your home, expand your business operations, or even tackle a medical emergency.

Transfer your loan against property to Bajaj Housing Finance Limited today and finance your major expenses with our top-up loans and hassle-free processing. To apply, check out your pre-approved offer here.

Loan Against Property Eligibility Criteria

For salaried individuals

The eligibility criteria for a salaried individual seeking a loan against property from Bajaj Housing Finance Limited are:

  • Your age should be between 28 to 58 years
  • You should be a salaried employee in a private company, public sector or a multinational organization
  • You should be a resident of India who lives and owns a property in BHFL locations like-
    1. Delhi & NCR
    2. Mumbai & MMR
    3. Chennai
    4. Hyderabad
    5. Bangalore
    6. Pune
    7. Ahmedabad

For self-employed individuals

The following are the eligibility criteria for a self-employed individual seeking a Bajaj Housing Finance Limited Loan Against Property:

  • Your age should be between 25 to 70 years
  • You should be a self-employed individual with a steady income from your business
  • You should be a resident of India who lives and owns a property in BHFL locations like-
    1. Bangalore
    2. Indore
    3. Nagpur
    4. Vijaywada
    5. Pune
    6. Chennai
    7. Madurai
    8. Surat
    9. Delhi & NCR
    10. Lucknow
    11. Hyderabad
    12. Cochin
    13. Mumbai
    14. Jaipur
    15. Ahmedabad

Documents Required for a Loan Against Property

For salaried individuals

  • Latest salary slips
  • Bank account statements of the previous 3 months
  • PAN card/Form 60 of all applicant 
  • ID proof of all applicant
  • Address proof of all applicant
  • Copy of the documents of the property to be mortgaged
  • IT returns
  • Title documents as required by legal team
  •  Any other documents as may required

For self-employed individuals

  • Primary bank account statements of the previous 6 months
  • PAN card/Form 60 of all applicant
  • Address proof of all applicants     • ID proof of all applicant
  • Income documents like ITR/Financial etc
  • Copy of the documents of the property to be mortgaged
  • Title documents as required by legal team
  • Any other documents as may required

*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 Loan Against Property Balance Transfer

Applying for a Bajaj Housing Finance Limited Loan Against Property Balance Transfer is quick and easy, simply follow these steps after clicking on our online application form:

Step 1

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

Step 2

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

Step 3

Submit the form and our executive will call you back shortly.

Loan Against Property – Fees and Charges

Make the most of attractive interest rates along with transparent fees and charges for loan against property balance transfer by shifting your loan to Bajaj Housing Finance Limited. The fees and charges applicable on a loan against property balance transfer are as follows:

Interest Rates Charges Applicable
Regular interest rate (salaried individuals) BHFL-SAL FRR* – Margin = 10.10% to 11.50%
Regular interest rate (self-employed individuals) BHFL-SE FRR* – Margin = 10.50% to 14.50%
*BHFL-SAL FRR (Bajaj Housing Finance Limited Floating Reference Rate for salaried individuals) 12.90%
*BHFL-SE FRR (Bajaj Housing Finance Limited Floating Reference Rate for self-employed individuals) 13.30%

*The Bajaj Housing Finance Limited Floating Reference Rate for loans against property booked before April 2018 was 12.95%.

Other Fees and Charges Charges Applicable
Processing fee Up to 6%
Loan statement charges NIL
Interest and principal statement charges NIL
EMI bounce charges Rs.3,000
Penal interest 2%
Secure fee Up to Rs.4,999 (one time)

*For term loan, charges will be calculated on the outstanding principal amount.

* For flexi interest only/ Hybrid flexi loan, charges will be calculated on the sanctioned limit.

*For flexi term loan, charges will be calculated on the current dropline limit.

Part Prepayment Charges & Foreclosure Charges

Floating Rate Loans: If all Borrowers and Co-Borrowers are Individuals​

Borrower Type: Interest Type Term Loan Flexi Term Loan Flexi Hybrid Loan
Time Period (Months) >1 >1 >1
Foreclosure Charges Nil Nil Nil
Part Payment Charges Nil Nil Nil

 

Floating Rate Loans: If any Borrower or Co-Borrower is a Non-Individual

Fixed Rate Loans: All Borrowers (including individuals)

Term Loan Flexi Term Loan Flexi Hybrid Loan
Time Period (Months) >1 >1 >1
Foreclosure Charges 4% * on Principal Outstanding 4%* on the available Flexi Loan Limit 4% * on Sanctioned Amount during Flexi Interest Only
Loan Repayment Tenure;
and
4%* on the available Flexi Loan Limit during Flexi Term Loan Tenure
Part Payment Charges 2% * on the Part- Payment Amount NA NA

* GST as applicable will be payable by the Borrower in addition to the Prepayment Charges.

Contact Details

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

Online:
Email us your query at wecare@bajajfinserv.in

Phone:
Call us on our toll-free customer care number at 020-39574151 (call charges apply)

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