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Home Loan Starting 6.75%*

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Loan Against Property Balance Transfer: Features and Benefits

The loan against property balance transfer facility offered by Bajaj Housing Finance allows borrowers to pay reduced EMIs by shifting the outstanding loan amount from their existing bank or financial institution to Bajaj Housing Finance. Along with a flexible repayment tenor and an affordable interest rate, you can also avail of a sizeable top-up loan to fund any other needs you may have.

  • Hassle-Free Balance Transfer Process

    Transfer your loan against property from your existing lender to Bajaj Housing Finance for a competitive rate of interest and better terms. Our easy eligibility criteria, minimal documentation, and quick processing ensure a hassle-free transfer.

  • High Top-up Loan Amount

    When you transfer your home loan to Bajaj Housing Finance, you have the option to avail of a sizeable top-up amount free of end-use restrictions. You can use the amount to fund your child’s education or buy a new car, whatever be your financial need.

  • Quick Disbursal

    Transfer your loan balance in just 72 hours with our quick loan against property balance transfer application process.

  • Part-Prepayment and Foreclosure Facility

    Convenient part-prepayment and foreclosure facility at zero cost make switching to Bajaj Housing Finance a smart choice.

  • Flexible Tenor

    A loan against property can often be a long-term commitment, which is why it is important that you are given the option to repay at your pace. With a tenor of up to 20 years, Bajaj Housing Finance offers you the option of flexible repayment.

  • Minimal Documentation

    Our eligibility criteria are simple and basic. More importantly, an application with Bajaj Housing Finance entails minimal documentation.

  • Online Account Management

    Our online customer portal ensures convenience; access the details of your Home Loan account online anytime, anywhere.

  • Easy-to-Use Loan Calculators

    Use our loan 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.

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 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 23 to 62 years
  • You should be a salaried employee in a private or public sector company or a multinational organization
  • Must be a resident of India and own a property in any of the below BHFL locations-
    1. Delhi & NCR
    2. Mumbai & MMR
    3. Chennai
    4. Hyderabad
    5. Bengaluru
    6. Pune
    7. Ahmedabad

For Self-Employed individuals

Self-employed individuals seeking a loan against property with Bajaj Housing Finance must meet the following eligibility criteria:

  • Must be between 25 and 70 years of age
  • Must be able to show steady income from their business
  • Must be a resident of India and own a property in any of the below BHFL locations-
    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 last 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 be required

For self-employed individuals

  • Primary bank account statements of the last 6 months
  • PAN card/Form 60 of all applicant
  • Address proof of all applicants    
  • ID proof of all applicant
  • Income documents, such as 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 be 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 Loan Against Property Balance Transfer is quick and easy. Fill in our online form by following these simple steps:

Step 1

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

Step 2

Enter your income details to help us decide on a loan offer best suited to your income and needs

Step 3

Submit the form

One of our executives will call you back and explain your loan offer in detail.

Loan Against Property: Fees and Charges

Make the most of the attractive interest rates and transparent fees and charges offered by Bajaj Housing Finance by shifting your loan to us. The rate of interest, fees, and charges applicable on a loan against property balance transfer are listed below.

Interest Rate for Salaried Borrowers

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%*

 

Loan Against Property Interest Rate for Self-Employed Borrower

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%*

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

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

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

 

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-INVIDUAL 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
Part-Payment Charges 2% * on the Part-Payment Amount NA

*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

 

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 customer care number 020-39574151 (call charges apply)

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