VISA AND FLIGHTS
Visa is a necessary expense for the ones who wish to pursue higher education. You may also need to pay for flight tickets and insurance. These costs are significant and may put a dent in your savings.
COURSE FEE
The price of your education will rise if you decide to take on additional electives, technical programs, medical workshops, etc. While education loans cover the cost of tuition in full, you will be responsible for these added expenses. Therefore, a loan top-up is really useful here.
LIVING EXPENSES
You'll agree that it's impossible to overlook the cost of living in a new country. From monthly rent, groceries, and transpiration to phone bills, internet, and clothes, the spending does not seem to end. It is important that you arrange your finances smartly.
Features and benefits of our home loan balance transfer
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Features and benefits of home loan balance transfer and top-up
Here is everything you need to know about home loan balance transfer and top-up.
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Top-up loan of up to Rs. 1 crore* or higher
Self-employed doctors can transfer their existing home loan to us and avail of a top-up loan of Rs. 1 crore* or higher, based on your eligibility.
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Low interest rates
Avail of low interest rates starting from 8.70%* p.a. by refinancing your loan. Pay EMIs as low as Rs. 819/lakh*.
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No restrictions on top-up use
You can use the top-up amount to pay for emergency medical bills, home renovation, wedding expenses, and other urgent needs.
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Tenure of up to 25 years
Manage your loan comfortably with our long repayment tenure ranging up to 25 years.
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Foreclosure facility
Self-employed doctors who opt for floating interest rates can make part prepayment or foreclose the entire loan without paying an additional fee.
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Minimal documentation
Balance transfer process on home loans can be time-consuming. We keep our document requirements to a minimum, ensuring a hassle-free process.
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Externally benchmarked linked loans
You can opt for an interest rate that is linked to an external benchmark, such as the Repo Rate, and benefit during favourable market trends.
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Online account management
You can access your loan status and EMI schedule online and download your statement of account, and other documents on our customer portal - My Account.
Home loan balance transfer EMI calculator
Enter a few details and check your home loan balance transfer EMIs.
Eligibility criteria and documents required
Anyone can apply for our home loan balance transfer facility as long as they meet the criteria mentioned below.
Eligibility criteria
- Nationality: You must be an Indian citizen residing in India with property in a city we operate in.
- Age: As an applicant, you must be between 23 years to 70 years.
*The upper age limit is considered as the age at the time of loan maturity. - CIBIL Score: A CIBIL Score of 725 or higher is ideal to get your home loan balance transfer approved.
- Employment status: As a self-employed doctor, you must hold an MBBS or subsequent higher degree. You should also have a business continuity of over 5 years in your current practice.
Documents required:
- KYC documents (identity and address proof)
- Proof of income (P&L statement & ITR)
- Property-related documents such as the title deed of the property
- Proof of medical practice existence
- Account statements for the last 6 months
Note: This is an indicative list that may change based on your actual loan application.
Check your home loan balance transfer eligibility
Find out how much loan amount you can get.
How to apply for a home loan balance transfer
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Applicable fees and charges
We advise you to read about our fees and charges thoroughly before applying.
Type of fee |
Applicable charges |
Rate of interest for balance transfer |
8.70%* to 15.00%* p.a. |
Rate of interest for top-up loan |
9.80%* to 18.00%* p.a. |
Processing fees |
Up to 4% |
Bounce charges |
For loan amounts up to Rs. 15 lakhs: Rs. 500 |
Penal charge |
Click here to know about the penal charges. |
Secure fee |
Up to Rs. 10,000 + GST as applicable |
Interest and principal statement charges |
NIL |
Part-prepayment charges |
NIL |
Foreclosure charges |
NIL |
Hard Copy Loan Statement Charges |
Up to Rs. 500 per request + GST as applicable |
Still haven’t found what you are looking for? Click on any of the links at the top of this page.
Frequently asked questions
When you transfer an existing home loan from one lender to another, you are doing a home loan balance transfer. With Bajaj Finserv, this facility allows you to get low interest rates starting at 8.70%* p.a. more convenient terms and a sizeable top-up loan of up to Rs. 1 crore* or higher for other financial needs.
A home loan top-up is additional financing available when you transfer your home loan to Bajaj Finserv. Refinance your current home loan with us and avail of a top-up loan of up to Rs. 1 crore* or higher.
The top-up loan has no end-use limitations, which means you can use the amount for anything, from the home renovation or interiors or weddings to even paying for emergency medical bills.
You can apply for a home loan balance transfer after paying off 6 monthly instalments to your current lender. When applying, you must not have outstanding dues on your present loan.
There is no limit on the balance transfer amount with the home loan balance transfer facility. The loan amount sanctioned is based on your income profile, CIBIL Score, and the value of your home.
Typically, switching to a lender through a home loan balance transfer takes 5 to 10 days. This duration is also affected by how fast you receive the foreclosure letter and other documents from your current lender.
