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Home Loan Balance Transfer

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About Home Loan Balance Transfer

Home loan balance transfer helps you reduce your EMIs by moving your outstanding loan from another lender to Bajaj Finserv for a lower interest rate of 8.80%. You can get an additional top-up loan up to Rs. 50 lakh, and get the added benefits of features such as pre-payment facility and nil foreclosure charges.

You can use our Home Loan Balance Transfer Calculator to compute your savings, as well as your top-up loan eligibility.

Bajaj Finserv’s Balance Transfer is amongst the best in the industry for the following reasons:

  •  

    Pre-payment facility - Individual borrowers can make part-prepayments without additional charges on home loans with floating interest rates

  •  

    No hidden charges - Complete transparency to ensure that there are no hidden charges or fees

  •  

    Nil foreclosure charges - Zero additional charges on foreclosure for individual borrowers opting for home loans with floating interest rates

  •  

    Online account management - Digital customer portal for online management of the home loan

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    Customised insurance solutions - Protection for the family in case of unforeseen circumstances with customised insurance schemes

Home Loan Transfer: Eligibility & Documents

Bajaj Finserv offers Home Loan Balance Transfer facility only for those properties that are ready to occupy, or already occupied. In order to avail this facility, you should have completed the payment of more than 12 loan EMIs without any dues/bounces.

In addition, your outstanding loan amount must be greater than Rs.5 lakh. Once you’re eligible for a home loan transfer, you will need to submit the following documents:

  • Financials

    Form 16/ Latest salary slips

  • Bank Statements

    Bank statements of salary account for last 6 months

  • Identity Proof

    Voter's ID card, Driving license, Job card issued by NREGA/Aadhar card/PAN card (PAN card only as identity proof)

  • Address Proof

    Passport/Voter's ID card/Driving license/Aadhar Card

Home Loan Transfer: Fees and Charges

Types of Fees Charges Applicable
Interest rate 8.80%
Processing fees Upto 1%
Loan statement charges Rs. 50
Interest and principal statement charges NIL
PDC swap charges NIL
Penal interest 2% per month + applicable taxes
EMI bounce charges* Up to Rs. 3,000/-

*Applicable following 1st EMI clearance

How to apply for Home Loan Balance Transfer

With Bajaj Finserv’s Balance Transfer, you not just make your home loan affordable, but also leverage benefits like top-up loans to help you in your time of need. Apply for a Home Loan Transfer, by calling us on 1800-103-3535, or you can reach us by clicking on Apply Online
To apply for a Home Loan Balance Transfer, follow the steps below:

  • 1

    Step 1: Fill in your personal details

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

  • 2

    Step 2: Fill in your financial details

    Input your income details, so we can find the best deal that suits your financial standing.

  • 3

    Step 3: Fill in your employment details

    The next set of details you need to submit pertain to your employment status.

  • 4

    Step 4: Fill in your existing property details

    Submit the details of the existing property for which you need balance transfer loan.

  • 5

    Step 5: View your loan offer

    Using our state-of-the-art home loan eligibility calculator, you’ll be able to know what kind of offers we have in store for you.

  • 6

    Step 6: Submit your property details

    Share details of your new home, including its location and size, so we can help you get the best deal

  • 7

    Step 7: Pay the secure fee online

    This fee is needed to secure and reserve the offer calculated for you. Our Relationship Manager will get in touch with you, to help you with the home loan transfer process and documents once you have paid the fees. You can pay the fee online, through our secure payment portal without any hassle.

    Once you’ve availed a Home Loan from Bajaj Finserv, you can get all the information about your housing loan like payment schedule, interest certificate, repayment track and key information related to your loans.

  • 8

    Step 8: Upload your documents

    Upload copies of all your documents, including ID, address, signature proof, photographs, employment and income details on our website.

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