The home loan balance transfer is a credit facility that allows the transfer of an active home loan amount to a different lender. This is possible when you do not like the disposition of your current lender or when it feels like you are paying a greater amount than EMI. The home loan balance transfer via Bajaj Housing Finance guarantees you a stress-free experience and what's needed is the information of your current home loans like the borrower’s name and exact loan amount to be moved between banks. 

Read on to learn about the home loan balance transfer process: 

• Begin by comparing the rates of interest, features of both home loan offers, and the price of both packages. 
• Indulge your current lender in a negotiation to try being retained as a home loan client. 
• Upon deciding that you'd prefer a home loan balance transfer, kindly reach out to your current home loan provider informing them and requesting a No Objection Certificate or NOC. When issued this, move on to the next step of the home loan balance transfer process.
• Ensure that you move the documents submitted from your current home loan provider to the new provider. In addition, retrieve post-dated cheques received by your current loan provider before the home loan balance transfer becomes necessary. 
• Hand the documents over to the new lender to continue the home loan balance transfer process. 
• The new home loan provider repays the outstanding loan amount to the old lender. This closes the old home loan. 
• Enjoy a reduced rate of interest with your new lender as this marks the end of the home loan balance transfer process. 

Now that you know how home loan balance transfer works, is home loan balance transfer profitable? Read on to find out.

The benefits of a home loan balance transfer:

• When you embark on a home loan balance transfer, you are guaranteed low EMIs and this helps satiate the wounds owing a loan can cause. 
• A home loan balance transfer ensures that you enjoy low rates of interest on your home loan and this helps you save up for other purposes. 
• When you indulge in the home loan balance transfer process, your credit rating increases and this increases your chances of scoring future home loans. 
• Upon complete payment of the Equated Monthly Instalment on your home loan, selecting a home loan balance transfer helps boost your confidence as you discuss newer rates of interest and other terms with the new lender. 
• When you select a home loan balance transfer, you part ways with a lender whose services you no longer desire and when matched with a new one who performs better, you feel fulfilled. 

Bajaj Housing Finance is your best bet for a home loan balance transfer. While each lender has a code of conduct regarding the verification of your eligibility for a home loan balance transfer, Bajaj Housing Finance offers a seamless and supportive home loan balance transfer process. Upon verification of your credit rating and assessment of your home loan documents and property deed, we are most likely to be your new home loan provider.