Home Loan Balance Transfer - Interest Rates, Fees and Charges
Avail top-up loan up to Rs. 50 Lakh with a Home Loan Balance Transfer
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| Type of Fees and Interest Rates | Charges Applicable |
|---|---|
| Promotional Interest Rate for Salaried | 7.5%** onwards |
| Regular Interest Rate | BFL-SAL FRR* – Margin = 9.05% to 10.30% (For Salaried) |
| Self Employed Interest Rate | BFL-SE FRR* – Margin = 9.35% - 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 Up to 2% of the loan amount for self-employed 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. 9999 |
** Loan up to 30 lakhs, for new customers.
*Applicable following 1st EMI clearance.
Foreclosure Charges
| 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 Loan, charges are calculated on the outstanding principal.
For Flexi Interest-only Loan, charges are calculated on the sanctioned limit.
For Flexi Term Loan, 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.
Repo Rate
In the current monetary system, the Reserve Bank of India uses the repo rate as a money market tool to achieve several fiscal goals for the economy. Any increase or decrease in the same effects the ROI of the financial lending institution.
The current repo rate is 4.00% and the BFL ROI is 8.85%*.
*T&C
