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Home > Home Loan Balance Transfer > Features and Benefits

HOME LOAN BALANCE TRANSFER

About Balance Transfer

Home Loan Balance Transfer involves the process of transferring your existing Home Loan account to another bank or NBFC. People usually opt for a Balance Transfer if they come across a financial institution offering a lower rate of interest and attractive top up loans. To opt for one, all you need to do, is calculate your savings on Home Loan Balance Transfer and fill an online Home Loan Balance Transfer application form. How it helps?

Transferring your loan helps you in the following ways:
1.Lowers your loan repayments by paying lower monthly instalments.
2.You can utilize the savings from the interest, for spending it on other requirements.
3.Attractive interest rates that make your Home Loan much more affordable and easier on your pocket.
4.Customised repayment options to suit your needs.
5.Get high Top-up at lower interest rates.

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

  • Pre-payment facility

  • No hidden charges

  • ;

    Nil foreclosure charges

  • Online account management

  • Customised insurance solutions

  • 3 EMI Holiday feature

Features and Benefits

Is the interest rate on your existing home loan too high? A home loan balance transfer is the answer to your problems. Get the advantage of low interest rates and low EMIs on your home loan, with Bajaj Finserv Home Loan Balance Transfer. Our home loan balance transfers come with additional benefits like NIL foreclosure charges and NIL part pre-payment charges. We also offer a 3 EMI holiday to help you plan your finances better and give you some breathing room. Apply for Home Loan Balance Transfer online and get instant approval.
Top-up Loan Buying a home comes with many unforeseen expenses that you can’t always plan for. That’s where Bajaj Finserv Top-up Loans come in. Get the advantage of a top-up on your existing home loan with Bajaj Finserv at low interest rates and a hassle-free application process. In addition, our top-up loans come without the need for you to submit collateral, as they are just an add-on to your existing home loan.
Bajaj Finserv Top-up loans are a unique benefit offered to our home loan balance transfer customers. If you have transferred your home loan balance to us, you will be eligible to apply for a top-up loan after one year.

  • Home Loan Balance Transfer

    If you’re unhappy with your current Home Loan plan, you can switch to Bajaj Finserv and avail of our numerous advantages like Online Application Process, Instant Online Approval, Minimum Documentation, Additional Top loan at attractive rates

  • Top-up Loans

    If you opt for a Home Loan Balance Transfer at Bajaj Finserv, you can also get a Top-up Loan at a minimal rate of interest. This loan amount can be used as per your discretion, be it for a home improvement project or for a holiday.

  • Part prepayment facility

    You can prepay any amount. However, the prepayment transaction should not be less than the total amount of 3 EMIs. There is no limit on the maximum amount. This is subject to you clearing your first EMI.

  • Nil foreclosure charges

    You get the option to foreclose your Home Loan anytime during your loan tenure. Use our Home Loan foreclosure calculator for this purpose. Bajaj Finserv will not charge any foreclosure charges.

  • 3 EMI Holiday

    Bajaj Finserv focuses on the ease of repayment through multiple flexible options that make it easier for the customer to repay their loans. A 3-month EMI grace period will help manage/plan monthly expenses and give a cushion to the customer to plan his finances.

Eligibility & Documents

Our Home Loan Balance Transfer facility is available only for properties that are ready to occupy, or already occupied. In order to avail this facility. You should have completed 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 balance transfer, You will need the following documents:

  • Financials

    Form 16/Latest salary slips

  • Bank Statements

    Bank statements of salary account for the last six 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

Fees and Charges

Types of Fees

Charges Applicable

Rate of interest
8.85%
Processing fees
0.8%
Loan statement charges
NIL
Interest and principal statement charges
NIL
PDC swap charges
NIL
Penal interest
2% per month
EMI bounce charges*
Nil
Part-prepayment charges*
Nil
EMI bounce charges*
Rs. 1,000

*Applicable following 1st EMI clearance
 

How to apply for Home Loan Balance Transfer

A Home Loan Balance Transfer with Bajaj Finserv will not only make your home loan more affordable, but also introduce you to a host of other benefits like top up loans to help you in your time of need. You can now apply for a Home Loan Balance Transfer by giving us a call on 1800-103-3535 or you can reach us by clicking on 'Apply Online'.

  • 1

    step 1 : Fill in your personal details

    All you have to do is enter your personal details including your name, date of birth, address, and contact details.

  • 2

    Step 2: Fill in your financial details

    Give us your income details and we can help you find a 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

    You need to submit the details of the exiting property for which you need balance transfer loan.

  • 5

    Step 5 : View your loan offer

    Using our state-of-the-art 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

    Give us the details of your new home, including its location and size, and 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 loan process and documents once you have paid the fees. You can pay the fee online through our secure payment portal without any hassles.

    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 through our.

  • 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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