back

Preferred Language

Preferred Language

Home Loan

RBI Guidelines for Home Loan Balance Transfer

Please enter your full name
Enter your Full Name
Please enter your 10-digit mobile number
Mobile No can not be blank
Please enter the pin code of your residential address
Pin Code can not be blank
null
null

I authorize Bajaj Finserv representatives to call/SMS towards this application and other products/services. This consent overrides my registration for DNC/NDNC. T&C apply

Please accept the terms and conditions
An OTP has been sent on your mobile number

Enter one-time password

0 Seconds
Entered wrong mobile number ?
null
Enter net monthly salary
Net Monthly Salary can not be blank
Please enter loan amount required
null
null
Please Select Property Location
null
select date of birth
Select your date of birth
Enter PAN card details
Pan Card can not be blank
Select employer name from the list
Enter personal email address
Personal Email can not be blank
Enter official email address
Official Email ID can not be blank
Enter current monthly obligations
null
null
null
null
null
Select business vintage value
Enter your monthly salary
Net Monthly Salary can not be blank
null
Please enter loan amount required
null
Please Select Balance Transfer Bank
null
null
Select Property Location
Enter annual turnover (18-19)
Enter your Annual Turnover 17-18

Thank you

What are the RBI Guidelines for Home Loan Balance Transfer?

For a home loan balance transfer, according to the RBI rules, banks and money lending companies are not supposed to charge any home loan fees. The home loan balance transfer helps a borrower to move to another lender better home loan rates than the present lender, if he or she fulfils their home loan eligibility criteria.

The balance transfer option involves foreclosing the current home loan and taking a new home loan for the due principal amount. A borrower can opt for a new loan with the charges waived on foreclosure of floating rate loans. However, some banks may charge a pre-payment penalty varying from 1%-3% on fixed rate loans. Use the home loan eligibility calculator to check your eligibility for a home loan transfer with Bajaj Finserv.

Did you know, a good CIBIL score can help you get a better deal on loans and credit cards?