When it comes to Home Loans, individuals avail of this financial tool after proper financial planning. However, sometimes, even after proper planning, borrowers can find themselves feeling tired of their current EMI obligation. Similarly, it is not uncommon for borrowers to want to switch lenders to access better customer service and other advantages.
A Home Loan Balance Transfer is a facility offered by most lenders these days. Using this facility, a borrower can transfer their outstanding loan amount to another lender. Availing of this facility means closing your loan account with your current lender and starting a new Home Loan account with your new lender.
Borrowers avail for Home Loan Balance Transfer either when another lender is offering them a lower housing loan interest rate or when they are being offered other beneficial facilities, such as lower or nil prepayment charges, extended loan tenure, etc.
Whether you are feeling burdened by your current Home Loan EMIs or have gotten tired of your current lender's sub-standard services, a Home Loan Balance Transfer can be an answer to all your questions.
In this article, we discuss the benefits of Home Loan Balance Transfer in general and the benefits of opting for a Home Loan Balance Transfer with Bajaj Housing Finance.
Benefits of Home Loan Balance Transfer
- Most borrowers opt for a Balance Transfer when another lender is offering them a better interest rate. A reduced interest rate not only reduces one's EMI and makes repayment simpler and easier, but it also helps borrowers save on the total interest outgo in the long run. However, availing of maximum benefit from this facility is possible only when borrowers apply for a transfer during the early years of Home Loan repayment and there is at least a 50 BPS difference in the interest rate offered by the new lender.
- Many lenders offer Top-up loans that can be used to meet business or housing needs, or for debt consolidation.
- Borrowers can negotiate for better loan terms and conditions, such as lower pre-payment charges, extended loan tenure, switch from fixed to floating interest rate and vice versa.
- Yet another advantage of transferring the balance is that when you opt for this facility, you get the option to extend your loan tenure as well as change your interest rate regime. For instance, if you are on a fixed interest rate and you think Home Loan interest rates will reduce in the coming days, you can switch from a fixed to a floating interest rate while doing a Home Loan Balance Transfer. Similarly, if you are finding it hard to afford your current EMIs, you can extend your loan tenure and bring your EMIs to the affordable side.
Additional Read: Differences Between Fixed and Floating Interest Rates
Why Should You Choose Bajaj Housing Finance For a Home Loan Balance Transfer?
When it comes to home loans, Bajaj Housing Finance is one of the most trusted names in the market. Here are some reasons why you should choose Bajaj Housing Finance as your Home Loan Balance Transfer partner.
Low-Interest Rates and Substantial Loan Amount
Borrowers must try their best to avail of the lowest interest rates possible as this makes Home Loan repayment easier. Bajaj Housing Finance offers home loans at highly competitive interest rates. Further, with Bajaj Housing Finance, borrowers can get access to a substantial amount of money.
Top-Up Loan
When a salaried or professional applicant chooses to transfer their Home Loan Balance Transfer, they get the chance to avail of a Top-up Loan of Rs.1 Crore or more at interest rates as low as 8.55%* p.a.
Flexible Repayment Tenure
With Bajaj Housing Finance, you get the option to repay your loan over a period extending up to 32 years. This long and flexible repayment period makes Home Loan repayment easy and stress-free.
Minimal Documentation Requirement and Online Account Management
With Bajaj Housing Finance, applying for a Home Loan Balance Transfer is easy as the company's documentation requirements are minimal. Further, Bajaj Housing Finance offers an online account management facility. Using this facility, you can check account statements, pay EMIs, raise queries and get answers online. The online account management facility makes it further easier for borrowers to repay their loans.
Additional Read: Check Bajaj Housing Finance Loan Status
Final Words
Other than the benefits mentioned and discussed above, there are several other benefits of a Home Loan Balance Transfer, such as low prepayment and foreclosure charges, no hidden fees, etc. So, if you are looking for a Home Loan Balance Transfer partner, choose Bajaj Housing Finance.
DISCLAIMER:
While care is taken to update the information, products, and services included in or available on our website and related platforms/websites, there may be inadvertent errors or delays in updating the information. The material contained in this website and on associated web pages, is for reference and general information purposes, and the details mentioned in the respective product/service document shall prevail in case of any inconsistency. Users should seek professional advice before acting on the basis of the information contained herein. Please take an informed decision with respect to any product or service after going through the relevant product/service document and applicable terms and conditions. Neither Bajaj Housing Finance Limited nor any of its agents/associates/affiliates shall be liable for any act or omission of the Users relying on the information contained on this website and on associated web pages. In case any inconsistencies are observed, please click on contact information.
Trending Articles

home+loan Home Loan
[N][T][T][N][T]
MCGM Property Tax Mumbai: Online Payment, Calculation, and Exemptions Explained2025-04-14 | 2 min

[N][T][T][N][T]
Understanding the Concept of Freehold Property in India2025-07-02 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Knowing When It's Time to Upgrade Your Home2025-07-02 | 2 min

home+loan Home Loan
[N][T][T][N][T]
House Rent Allowance Under Section 10(13A) of the Income Tax Act2025-03-05 | 3 min

loan+against+property Loan Against Property
[N][T][T][N][T]
Understanding GWMC Property Tax: Payment Methods, Calculation, and Benefits2025-03-13 | 3 min

[N][T][T][N][T]
How Home Loan Rates Are Determined – What You Should Know2025-06-26 | 5 min

[N][T][T][N][T]
Key Benefits of Availing of a Home Loan2025-06-26 | 4 min

[N][T][T][N][T]
How to Use a Prepayment Calculator Effectively?2025-06-26 | 6 min

[N][T][T][N][T]
What is Fractional Homeownership?2025-06-25 | 5 min

[N][T][T][N][T]
3 Tips to Lower the Interest Rate on a Home Loan2025-06-25 | 3 min

home+loan Home Loan
[N][T][T][N][T]
How to Pick the Best Home Loan Tenure that Suits Your Budget2023-06-29 | 5 min

[N][T][T][N][T]
Property Card in Mumbai: How to Apply and Check the Status2025-06-23 | 5 min

home+loan Home Loan
[N][T][T][N][T]
How Can Prepayment of Your Home Loan EMI Help in the Long Run?2025-06-24 | 5 min

home+loan Home Loan
[N][T][T][N][T]
Understanding What Affects Home Loan Interest Rates2025-06-20 | 4 min

home+loan Home Loan
[N][T][T][N][T]
Paid Off Your Home Loan? Know What to Do Next2025-06-10 | 5 min

home+loan Home Loan
[N][T][T][N][T]
Understanding How Home Loan Interest Rates Are Determined2025-05-12 | 5 min

loan+against+property Loan Against Property
[N][T][T][N][T]
Guntha to Acre Conversion – A Simple Guide to Land Measurement2025-06-19 | 3 min

home+loan Home Loan
[N][T][T][N][T]
How to Access Your Login Details in Bajaj Customer Portal?2024-02-02 | 5 min

home+loan Home Loan
[N][T][T][N][T]
Factors to Consider Before Opting for Home Loan Balance Transfer2024-06-21 | 5 min

cibil Cibil
[N][T][T][N][T]
Tips to Maintain Your Business CIBIL Score Above 7002024-02-02 | 5 min

cibil Cibil
[N][T][T][N][T]
Different Types of Credit Scoring Models You Must Know2024-03-14 | 5 min

[N][T][T][N][T]
Circle Rate vs. Market Rate – Understanding the Difference2025-06-17 | 4 min

loan+against+property Loan Against Property
[N][T][T][N][T]
What Is Refinancing a Mortgage and How Does It Work for Property Owners?2025-06-17 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Top 5 Home Loan Calculators to Simplify Your Home Financing Journey2025-06-17 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Need Funds After Taking a Home Loan? Here's What You Can Do2025-06-16 | 4 min

home+loan Home Loan
[N][T][T][N][T]
Upgrading to a Bigger Home? Here is How to Plan Your Finances Right2025-06-16 | 5 min

home+loan Home Loan
[N][T][T][N][T]
Joint Application in Home Loan – Pros, Cons, and Key Considerations2025-06-16 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Smart Ways to Understand and Use a Home Loan EMI Calculator2025-06-09 | 3 min

home+loan Home Loan
[N][T][T][N][T]
How MSME Loans Can Help Small Enterprises to Scale and Thrive2025-06-10 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Home Loan Basics Made Simple: Understanding Principal and Interest2025-06-10 | 3 min

loan+against+property Loan Against Property
[N][T][T][N][T]
Loan Against Property vs. Personal Loan: Which Should You Choose?2025-06-06 | 3 min

home+loan Home Loan
[N][T][T][N][T]
How to Change Your Home Loan e-Mandate on the BHFL Customer Portal2025-03-21 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Smart Steps for Purchasing Property from an NRI: A Guide2025-05-29 | 3 min

[N][T][T][N][T]
AnyROR Gujarat and the e-Dhara Land Record Systems2025-02-26 | 3 min

home+loan Home Loan
[N][T][T][N][T]
IGR Odisha: A Guide to Online Property Services and Registration2025-03-20 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Domicile Certificate: Meaning, Documents, and How to Apply Online2025-04-14 | 2 min

home+loan Home Loan
[N][T][T][N][T]
PM Surya Ghar: Muft Bijli Yojana: Empowering Households with Rooftop Solar2025-04-01 | 3 min

[N][T][T][N][T]
IGRS Uttar Pradesh – Making Property Registration Easy2025-06-12 | 5 min

[N][T][T][N][T]
4 Simple Tips to Get a Higher Loan Amount on Your Home Loan2025-06-11 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Home Loan Tranche Disbursement – A Homebuyer’s Guide2025-06-11 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Home Loan Balance Transfer Explained – Is Multiple Transfer Possible?2025-06-11 | 3 min

[N][T][T][N][T]
Moving to a New Home? Don’t Overlook the Tax Angle2025-06-11 | 3 min

[N][T][T][N][T]
Your Guide to Picking the Right Home Loan Lender2025-06-10 | 5 min

home+loan Home Loan
[N][T][T][N][T]
Home Loan Balance Transfer: Benefits, Eligibility, and More2024-05-15 | 3 Min

home+loan Home Loan
[N][T][T][N][T]
What Affects the Interest Rate on Your Home Loan2024-03-13 | 5 min

[N][T][T][N][T]
Smart Ways to Fund and Plan Your Summer Home Renovation2025-06-09 | 4 min

[N][T][T][N][T]
How Economic Shifts Affect Home Loan Rates2025-06-09 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Home Loans: Smart Financing with Long-Term Benefits2025-06-09 | 3 min

[N][T][T][N][T]
Benefits of Home Loan Interest Rate Conversion: Explained2025-06-09 | 4 min

[N][T][T][N][T]
Understanding Home Loan Subsidies2025-06-06 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Is Prepaying Your Home Loan the Right Move?2025-06-06 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Five Important Factors to Keep in Mind When Prepaying Your Home Loan2023-01-17 | 6 min

[N][T][T][N][T]
How Is a Loan Against Property Processed?2024-02-05 | 6 min

tax Tax
[N][T][T][N][T]
How to Avail of Tax Benefits on a Loan Against Property2024-06-13 | 5 Min

tax Tax
[N][T][T][N][T]
8 Different Ways to Avail of Tax Benefits on Home Loans2023-03-03 | 4 min

home+loan Home Loan
[N][T][T][N][T]
ITR Filing for Home Loan – Know the Right Process to File Your Income Tax Returns2024-02-16 | 5 min

home+loan Home Loan
[N][T][T][N][T]
10 Factors That Affect Your Home Loan Eligibility2024-05-21 | 7 min

home+loan Home Loan
[N][T][T][N][T]
Understanding CIBIL MSME Rank: What it Means for Your Business Loan Application2025-05-30 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Rising Home Loan Interest Rates: Impact on First-Time Homebuyers2025-06-03 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Know About CTS Number When Buying a Property in Mumbai2025-03-04 | 5 min

home+loan Home Loan
[N][T][T][N][T]
Estimating Your Monthly Outgo on a Rs.1 Crore Home Loan2025-05-30 | 3 min

home+loan Home Loan
[N][T][T][N][T]
How Can You Get a Place of Your Own When Living in a Metro City?2025-05-30 | 3 min

[N][T][T][N][T]
Home Loan ROI Explained: What it Means2025-05-30 | 5 min

[N][T][T][N][T]
What are Tranche Disbursement and Tranche EMI in Home Loans?2025-03-14 | 5 min

home+loan Home Loan
[N][T][T][N][T]
How to Top Up your Home Loan2025-03-04 | 3 min

[N][T][T][N][T]
7 Smart Ways to Optimise Your Home Loan Interest Repayments2025-04-03 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Understanding Home Loan Processing Time: What to Expect and How to Prepare2025-04-14 | 3 min

home+loan Home Loan
[N][T][T][N][T]
5 Great Ways Women Can Benefit from Taking a Housing Loan2024-01-16 | 5 min

home+loan Home Loan
[N][T][T][N][T]
Tips to Secure Quick Home Loan Approval2025-03-03 | 2 min

home+loan Home Loan
[N][T][T][N][T]
Consider These Factors Before Foreclosing Your Home Loan2024-04-16 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Pre-EMI or Full EMI: Understanding Home Loan Repayment Options2025-01-16 |

home+loan Home Loan
[N][T][T][N][T]
How Much Home Loan Can I Get? A Guide for First-Time Borrowers2025-04-07 | 4 min

home+loan Home Loan
[N][T][T][N][T]
Home Loan for Self-Employed Individuals2025-03-03 | 2 min

[N][T][T][N][T]
Smart Ways to Pay Off Your Home Loan Faster2025-04-01 | 6 min

home+loan Home Loan
[N][T][T][N][T]
Home Loan Prepayment: Everything You Need to Know2025-04-07 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Smart Home Loan Planning After 45: Tips and Strategies2025-05-13 | 2 min

home+loan Home Loan
[N][T][T][N][T]
Need More from Your Home Loan? Here’s How You Can Optimise I2025-05-07 | 3 min

home+loan Home Loan
[N][T][T][N][T]
An Essential Guide to Refinancing a Home Loan2024-04-22 | 5 Min

home+loan Home Loan
[N][T][T][N][T]
Understanding RERA in Real Estate: Meaning, Full Form, and Benefits2025-02-16 | 2 min

home+loan Home Loan
[N][T][T][N][T]
MPIGR Madhya Pradesh: A Guide to Property Registration and SAMPADA Services2025-04-14 | 2 min

home+loan Home Loan
[N][T][T][N][T]
A Guide to Applying for DTCP Approval for Patta Land Online2025-01-13 | 6 min

home+loan Home Loan
[N][T][T][N][T]
Khasra Number Explained: How to Find It2025-01-03 | 2 min

home+loan Home Loan
[N][T][T][N][T]
Gift Deeds: A Comprehensive Guide to Registration and Documentation2025-01-29 | 2 min

home+loan Home Loan
[N][T][T][N][T]
Understanding Bigha in India: Convert 1 Bigha to Square Feet, Acres, and Hectares2025-01-31 | 2 min

home+loan Home Loan
[N][T][T][N][T]
Home Loan Pre-Closure: Is it the Right Step for You?2025-05-29 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Understanding APF Number and Its Role in Home Loan Applications2025-01-07 | 2 min

loan+against+property Loan Against Property
[N][T][T][N][T]
Understanding Repayment Terms for Loans Against Property2025-05-29 | 3 min

home+loan Home Loan
[N][T][T][N][T]
What Does It Mean to Be a Guarantor? Understanding Roles and Responsibilities2025-05-28 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Understanding Home Loan Fees and Charges in India2025-05-28 | 3 min

[N][T][T][N][T]
Understanding EMI Allocation Within Your Salary2025-05-28 | 3 min

[N][T][T][N][T]
Is a Down Payment Mandatory for a Home Loan in India?2025-05-27 | 3 min

[N][T][T][N][T]
How to Buy a Home Securely under MahaRERA2025-05-27 | 4 min

home+loan Home Loan
[N][T][T][N][T]
Valuation of House: A Comprehensive Guide for Homeowners in India2025-05-27 | 2 min

[N][T][T][N][T]
Factors That Affect Your Loan Against Property Eligibility2025-05-26 | 3 min

[N][T][T][N][T]
Why Loan Against Property Can Be an Ideal Choice for Funds2025-05-27 | 4 min

home+loan Home Loan
[N][T][T][N][T]
Freehold vs. Leasehold Property: What You Need to Know2025-05-27 | 2 min

home+loan Home Loan
[N][T][T][N][T]
Transferable Development Rights (TDR): Understanding the Concept2025-02-12 | 2 min

home+loan Home Loan
[N][T][T][N][T]
Buying a Home: Understanding the 'No EMI till Possession' Scheme2025-03-19 | 2 min

home+loan Home Loan
[N][T][T][N][T]
PMAY Urban 2.0: Guidelines for Affordable Housing in India2025-01-29 | 2 min

home+loan Home Loan
[N][T][T][N][T]
Ways to Check RERA Registration Status of Real Estate Projects2025-03-20 | 2 min

loan+against+property Loan Against Property
[N][T][T][N][T]
A Guide to Calculate Loan Against Property EMI2025-01-08 | 2 min

[N][T][T][N][T]
Relinquishment Deed: Meaning, Format, and Documents Required2025-03-19 | 3 min

home+loan Home Loan
[N][T][T][N][T]
How to Get a Top-Up Loan After Transferring Your Home Loan2025-05-23 | 3 min

home+loan Home Loan
[N][T][T][N][T]
Floor Space Index (FSI): Meaning, Calculation, and its Importance in Real Estate