Home Loan Transfer Fees, Charges, And Interest Rates
To know more about Bajaj Finserv Home loan fees, charges, and interest rates, read on.
Type of Fees and Interest Rates |
Charges Applicable |
Promotional Interest Rate for Salaried |
6.65%** onwards |
Regular Interest Rate |
BFL-SAL FRR* – Margin = 6.80% to 10.30% (For Salaried) |
Self Employed Interest Rate |
BFL-SE FRR* – Margin = 6.80% - 11.15% |
*BFL-SAL FRR (Bajaj Finance Limited Floating Reference Rate for salaried customers) |
20.90% |
*BFL-SE FRR (Bajaj Finance Limited Floating Reference Rate for Self Employed customers) |
20.90% |
Processing fees |
Up to 1% of the loan amount for salaried individuals |
Loan Statement Charges |
NIL |
Interest and principal statement charges |
NIL |
EMI bounce charges |
Rs. 3,000 per bounce |
Penal interest |
2% per month |
Secure fee |
Rs. 9,999 |
** Loan up to 30 lakhs, for new customers.
*Applicable following 1st EMI clearance.
Foreclosure charges
To know more about Bajaj Finserv Home loan foreclosure charges, read on.
Borrower Type: Interest Type |
Time Period |
Foreclosure Charges* |
Individual: Floating rate |
More than 1 month from date of loan disbursal |
Nil |
Non-individual: Floating rate |
More than 1 month from date of loan disbursal |
4%* + taxes applicable |
All borrowers: Fixed rate |
More than 1 month from date of loan disbursal |
4% + taxes applicable |
- For term loans, charges are calculated on the outstanding principal
- For Flexi interest-only loans, charges are calculated on the sanctioned limit
- For Flexi term loans, charges are calculated on the current dropline limit
Part - prepayment charges
Borrower Type: Interest Type |
Time Period |
Part-prepayment Charges* |
Individual: Floating rate |
More than 1 month from date of loan disbursal |
Nil |
Non-individual: Floating rate |
More than 1 month from date of loan disbursal |
2%* + taxes applicable on part payment amount paid |
All borrowers: Fixed rate |
More than 1 month from date of loan disbursal |
2% + taxes applicable on part payment amount paid |
Part-prepayment made should be more than 1 EMI.
These charges are not applicable for the Flexi interest-only and Flexi term facilities.
Home loan transfer charges and interest rate
The Bajaj Housing Finance Limited Home Loan Balance Transfer is an easy and hassle-free provision that gives you access to a host of benefits. With it, you can avail a lower home loan interest rate and save on interest as you repay your debt. If you’re looking for a favourable time to switch lenders, keep an eye out for repo rate changes issued by the RBI.
As of 5 April 2021, the repo rate is 4.00%, which makes this an opportune time to avail low home loan interest rates. Additionally, the fees and charges for availing a home loan transfer are fixed and transparent, thus allowing you to plan your undertaking with all the necessary information.
