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Home Loan Balance Transfer + Top up for Self-employed Individuals

Interest rates starting 9.50%* p.a. | Loan up to Rs. 15 cr* | Tenure up to 20 years*
Home Loan Balance Transfer + Top up for Self-employed Individuals
Interest rates starting 9.50%* p.a. | Loan up to Rs. 15 cr* | Tenure up to 20 years*
HL_PDP_01_Quick_Disbursal
Approval in 48 hours*
HL_PDP_02_Rupee
Top-up loan up to ₹ 1 crore*
HL_PDP_04_NoRestriction
No restriction on use of top-up loan
HL_PDP_06_ForeClosure
Foreclosure facility
HL_PDP_05_LowEMI
Benefit from low EMIs
HL_PDP_01_Quick_Disbursal
Approval in 48 hours*
HL_PDP_02_Rupee
Top-up loan up to ₹ 1 crore*
HL_PDP_04_NoRestriction
No restriction on use of top-up loan
HL_PDP_06_ForeClosure
Foreclosure facility
HL_PDP_05_LowEMI
Benefit from low EMIs
Home Loan EMI Calculator

Home Loan EMI Calculator

Plan your instalments better

Features and benefits of our home loan balance transfer & top-up loan

  • Top-up loan of Rs. 1 crore* or higher

    Self-employed professionals can transfer their existing home loan to us and avail of a top-up loan of up to Rs. 1 crore* or higher.
  • Low interest rates

    Avail of low interest rates starting from 8.70%* p.a. by refinancing your loan with us.
  • No restrictions on top-up usage

    You can use the top-up amount for medical emergencies, home renovation, wedding expenses, higher education, and similar urgent needs.
  • Tenure of up to 20 years

    Manage your loan comfortably with our convenient repayment tenure of up to 20 years.
  • Foreclosure facility

    Self-employed professionals who opt for floating interest rates can make part prepayment or foreclose the entire loan without an additional fee.
  • Minimal documentation

    The balance transfer process on home loans can be time-consuming. We keep our document requirements to a minimum, ensuring a hassle-free process.
  • Externally benchmarked interest rates

    You can opt for an interest rate which is linked to an external benchmark, such as the Repo Rate. This may benefit you during favourable market conditions.
  • 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.
*Terms and conditions apply
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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 a self-employed applicant, you must be between 23 years to 75 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 applicant, you should have a business continuity of over 5 years in the current business.

Documents required

  • KYC documents (identity and address proof)
  • Proof of income (P&L statement)
  • Proof of business existence, and
  • Account statements for the last 6 months
Note: This is an indicative list that may change based on your actual loan application.

How to apply for a home loan balance transfer & top-up loan

Step-by-step guide to applying for a home loan balance transfer & top-up loan

  1. Click on the 'APPLY' button on this page.
  2. Enter your full name, mobile number, your employment type, and the type of loan you wish to apply for.
  3. Generate and submit your OTP to verify your phone number.
  4. Next, choose your current home loan lender from the drop-down and enter your monthly salary and the loan amount required.
  5. In the next step, enter additional details like your DOB, PAN number, email Id, current EMI amount and other details.
  6. Finally, click on the ‘SUBMIT’ button.
That is it! Your application is submitted. Our representative will connect with you to guide you through the next steps.

Applicable fees and charges on our home loan balance transfer & top-up loan

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% of the loan amount + GST as applicable

Bounce charges

  • For loan amounts up to Rs. 15 lakhs: Rs. 500
  • For loan amounts from Rs. 15,00,001 to Rs. 30,00,000: Rs. 1,000
  • For loan amounts from Rs. 30,00,001 to Rs. 50,00,000: Rs. 1,500
  • For loan amounts from Rs. 50,00,001 to Rs. 1,00,00,000: Rs. 2,000
  • For loan amounts from Rs. 1,00,00,001 to Rs. 5,00,00,000: Rs. 3,000
  • For loan amounts from Rs. 5,00,00,001 to Rs. 10,00,00,000: Rs. 5,000
  • For loan amounts more than Rs. 10 crores: Rs. 10,000.

Penal interest

Up to 24% per annum in addition to the applicable interest rate on the overdue amount.

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 + GST as applicable

Frequently asked questions

What is a home loan balance transfer?

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 Rs. 1 crore* or higher for other financial needs.

What does a top-up loan mean?

A home loan top-up is additional financing available when you switch your home loan to Bajaj Finserv. Transfer your current home loan to us and receive a top-up loan of Rs. 1 crore* or higher.

The loan has no end-use limitations, which means you can use the amount for anything, from home renovation or interiors or wedding to even paying for emergency medical bills.

When can I apply for a home loan balance transfer?

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.

What is the maximum loan amount that can be transferred?

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.

How long does it take to change the home loan lender?

Typically, switching to a lender via 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.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.