Transfer the balance of your existing home loan to Bajaj Finserv and get an additional top-up loan of a sizable amount. Apart from the top-up loan that comes free of any end-use restrictions, you also gain the benefits of a competitive interest rate and the option to extend your repayment tenor. Use our Home Loan Balance Transfer Calculator to compute your savings and top-up loan eligibility.
Many borrowers opt to transfer their loan to a new lender to avail of a lower interest rate. This is one of the key benefits as a lower interest rate translates to reduced EMIs and a lower interest payable on the loan. To know all about the other benefits of a home loan balance transfer, read on.
• Allows you to negotiate for loan restructuring
When you opt for a home loan balance transfer, you can negotiate with your new lender for more suitable repayment terms. You can also change your repayment to better match your repayment capabilities and goals.
• Balance transfer and top-up loan
You can avail of a top-up when you transfer your loan. The amount is free of end-use restrictions, and you can use it to meet any expense, right from a renovation project to an exotic vacation.
Avail of a top-up loan up to Rs.50 lakh with a Home Loan Balance Transfer. Apply Now.
|Home Loan Balance Transfer Fees and Charges|
|Type of Fees||Charges Applicable|
|Interest rate||6.75%* onwards (for salaried)
8.50%* onwards (for self-employed)
|Processing fees||Up to 6% of the loan amount|
|Interest and principal statement charges||NIL|
|Loan statement charges||NIL|
|Penal interest||Up to 2%|
|EMI bounce charges*||Up to Rs. 3,000|
Fill in your personal details
Fill in your financial details
Fill in your employment details
Fill in your existing property details
View your loan offer
Submit your property details
Pay the secure fee online
Upload your documents
The primary benefit of a home loan balance transfer is a lower rate of interest. The facility thus reduces your monthly instalments.
Also, you get to avail a high-value top-up loan up to Rs. 50 Lakh.
Yes, it is beneficial. Refinancing your home loan helps you avail of a lower rate of interest, enabling you to save on the total interest outgo.
No. Refinancing your home loan will not lower your credit score.
It usually takes around 5 to 10 days to switch lenders. You can apply for a Home Loan Balance Transfer from Bajaj Finserv’s official website. Provide your personal details, financial data, employment details, and existing property information to view your loan offer.
Next, you have to submit your property details, pay the secure fee, and upload the relevant documents to apply for the transfer.
There is no maximum amount that you can transfer. Your entire home loan outstanding balance gets transferred to the new lender.
Yes, When you transfer your home loan to Bajaj Finserv, you have the option to avail of a high-value top-up amount to meet other financial needs.
Yes, Bajaj Finserv offers applicants the option to extend their repayment tenor. Please note that the maximum age at the time of loan maturity cannot exceed 62 years in the case of salaried individuals and 70 years in the case of self-employed individuals.
No, you do not require a guarantor to go ahead with a home loan balance transfer.
Yes. You can transfer your home loan to another person if you are selling your property to that same individual.