Refinance your existing home loan and get a top-up loan of Rs. 1 Crore*
With our home loan balance transfer facility, transfer your existing home loan to us and avail of additional top-up that you can use to manage extra expenses. Also, get a convenient repayment tenure of 30 years* and added benefits like minimal documentation, foreclosure facility, attractive interest rate of 8.50%* p.a., and more.
Features and benefits of our home loan balance transfer
Home Loan Balance Transfer - Features and benefits
Our Home Loan Balance Transfer offers a top-up loan of Rs. 1 crore. Know other benefits.
Top-up loan of Rs. 1 Crore*
Transfer your existing home loan to us and avail of a top-up loan of up to Rs. 1 Crore*.
Low interest rates
With our low interest rates starting at 8.50%* p.a., refinance your home loan and pay EMIs as low as Rs. 769/lakh*.
No restrictions on top-up use
Use the top-up loan amount of Rs. 1 Crore* to manage situations like medical emergencies, home repairs, education, and any other pressing needs.
Repay the home loan over a long tenure of 20 years* and manage your finances comfortably.
Individual borrowers with a floating rate of interest can make a part prepayment or foreclose the entire loan without paying an additional fee.
Balance transfer process on home loans can be lengthy. We keep our document requirements to a minimum, ensuring a hassle-free process.
Externally benchmarked loans
Choose an interest rate linked to an external benchmark, such as the Repo Rate, and benefit during favourable market conditions.
Online account management
You can easily 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
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.
- Nationality: You must be an Indian citizen residing in India with property in a city we operate in.
- Age: A salaried/ professional applicant must be between 23 years to 65 years, and a self-employed professional 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.
- Occupation: salaried employee, a professional individual, and a self-employed individual.
- KYC documents (identity and address proof)
- Proof of income (salary slips or P&L statement)
- Proof of business (for self-employed applicants), and
- 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
Did you know?
You can avail of tax benefits on your home loan that can help you save on taxes.
Did you know?
You can transfer your home loan to us and get additional benefit of top-up loan.
Did you know?
You can calculate your EMIs by using our EMI calculator and plan better.
Did you know?
A higher CIBIL Score will help you get better home loan interest rate.
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||Salaried||Self-employed||Doctors|
|8.50%* to 15.00%* p.a.||9.50%* to 15.00%* p.a.||8.80%* to 15.00%* p.a|
|Processing fees||Up to 7% of the loan amount|
|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 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|
|Hard Copy Loan Statement Charges||Up to Rs. 500 per request + GST as applicable|
Frequently asked questions
When you transfer your existing home loan from one lender to another, you are doing a home loan balance transfer. With Bajaj Finserv, this feature allows you to get low interest rates starting at 8.50%* p.a.. more convenient terms, and a sizeable top-up loan of Rs. 1 Crore* for your urgent financial needs.
A home loan top-up is additional financing available when you transfer your home loan to another financial institution. Refinance your current home loan with Bajaj Finserv and avail of a top-up loan of Rs. 1 Crore*.
The top-up amount has no limitations on its usage which means, you can use the amount for anything, from the home renovation or interiors to even paying for emergency medical bills or a wedding.
You can apply for a home loan balance transfer any time 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 amount when transferring the home loan balance. The loan amount granted to you is based on your income profile, CIBIL Score, and the value of your home.
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.