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Loan Against Property Balance Transfer

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.

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

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    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.

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    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 up to 50% of your sanctioned loan amount.

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    Quick disbursal

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

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    Part-prepayment and foreclosure facility

    Switch to Bajaj Housing Finance Limited to enjoy a convenient part-prepayment and foreclosure facility at zero cost.

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    Flexible tenors

    Choose a tenor ranging between 2 years and 20 years that suits your repayment capacity the best.

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    Minimal documentation

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

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    Convenient account management online

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

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    Hand-picked insurance schemes

    Choose a suitable insurance scheme and protect your family from the burden of repaying the loan in case of an unforeseen event.

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    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 33 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 or owns a property in one of the following cities

Thane, Delhi, Kolkata, Mumbai, Chennai, NCR, Hyderabad, Bangalore, Pune, Ahmedabad, Navi Mumbai

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 an Indian resident, currently living or owning a property in one of the following cities

Bangalore, Indore, Aurangabad, Nagpur, Vizag, Rajkot, Vijayawada, Pune, Chennai, Jamnagar, Kolkata, Madurai, Nasik, Surat, Delhi, Baroda, Lucknow, Raipur, Hyderabad, Cochin, Salem, Mumbai, Jaipur, Vapi, Ahmedabad

Documents Required for a Loan Against Property

For salaried individuals

  • Latest salary slips
  • Bank account statements of the previous 3 months
  • PAN card
  • Address proof
  • Copy of the documents of the property to be mortgaged
  • IT returns

For self-employed individuals

  • Bank account statements of the previous 6 months
  • PAN card
  • Address proof
  • Copy of the documents of the property to be mortgaged

*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.

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Step 2

Enter 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 the form and our executive will call you back shortly

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Loan Against Property Balance Transfer – 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 1%
Loan statement charges
NIL
Interest and principal statement charges
NIL
EMI bounce charges
Rs.3,000
Penal interest
Up to 2% per month
Secure fee
Up to Rs.4,999 (one time)

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

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

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

*For flexi term loan, charges to be calculated on the current 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
All borrowers: Fixed rate
More than 1 month from date of loan disbursal
2% + taxes applicable

*Part-prepayment made should be greater than one 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 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. Use our branch locator here to