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

Interest rate for salaried

7.35%* p.a. onwards

Interest rate for self employed

7.85%* p.a. onwards

Processing fees

Up to 7% of loan amount + GST as applicable

Loan Statement Charges

NIL

Interest and principal statement charges

NIL

EMI bounce charges

Up to Rs. 3,000 per bounce

Penal interest

Up to 2% per month in addition to the applicable Interest Rate on overdue amount

Secure fee

Rs. 9999 + GST as applicable


** 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 4.90%, 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.

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