Bajaj Finserv brings Top up Loan as an exclusive financing option for expenses besides the ones covered by the home loan. Customers who opt for our balance transfer facility can borrow funds over and above the existing home loan amount. It not only speeds up the process of availing additional funding but also saves time.
Whether to improve your home’s exterior and interior or carry out house renovation and repair, Top up Loan on Home Loan becomes the ultimate financing option. You can also utilise this top up amount to meet other big-ticket expenses such as funding your child’s overseas education, marriage costs, expenses for travelling abroad and many more.
Transfer your Home loan balance to Bajaj Finserv and get Top up loan up to Rs. 50 Lakh* with it. Its attractive features and benefits make it a compelling funding option.
Bajaj Finserv offers the top-up facility at a lower rate of interest compared to your existing lender. Reduce the burden of interest payment and manage finances effectively over time with this facility.
Availing a Top up Loan is easy and requires you to furnish no extra documents for the approval.
Bajaj Finserv offers a high-value top up amount if the property’s value is high. Depending on this value, the loan amount can be more than the initial Home Loan availed.
While you can meet home construction and renovation expenses with the top up amount availed on Home Loan Balance Transfer, you can also use it to meet any other necessary financing requirements as well.
Track this loan amount through online account management on Bajaj Finserv’s digital customer portal.
If you wish to repay the loan amount before the tenor ends, use our foreclosure and part-prepayment facility.
Under Section 24 of the Income Tax Act, you can also claim income tax deduction up to Rs. 2,00,000 on the payable Top up Loan interest. You also get home loan tax benefits on Top up Loan of up to Rs. 50,000 on the interest under Section 80EE of the Income Tax Act.
All customers who choose to go for our balance transfer facility can avail the top up amount by meeting simple top up Home Loan eligibility and documentation. Furnish the documents required for top up Home Loan.
Get the lowest Top up Loan interest rates in India and other transparent fees with Bajaj Finserv.
Know the interest rates to calculate the monthly outflow of cash in the form of EMI to repay the top up amount. You can calculate it with our online tool Home Loan EMI calculator.
Bajaj Finserv offers the best home loan interest rate in India, thus making repayment easy and affordable.
|Sr. No.||Other types of charges||Applicable charges|
|1.||Loan processing fees||Up to 1.20% for self-employed individuals
Up to 0.80% for salaried individuals
|2.||Charges for a loan statement||Rs. 50|
|3.||Charges for interest and principal statement||NIL|
|4.||Bounce charges on EMI||Rs. 3,000|
|5.||Secure fee (One time)||Rs. 9,999|
|6.||Penal interest||2% every month along with applicable taxes|
|7.||Non-refundable mortgage origination fees||Rs. 1,999|
*Also, know the transparent foreclosure and part-prepayment charges on this loan so that you can plan the repayment better. If you are an individual borrower whose Housing Loan interest rate is calculated on floating rates, you do not need to pay any part-prepayment and foreclosure charges.
|Sr. No.||Type of Interest: Type of Borrower||Part-prepayment charges||Period in months|
|1.||Floating rate: Individual||Nil||>1|
|2.||Floating rate : Non-individual||2% + taxes as applicable||>1|
|3.||Fixed rate : All borrowers||2% + taxes as applicable||>1|
|Sr. No.||Type of Interest: Type of Borrower||Foreclosure charges||Period in months|
|1.||Floating rate: Individual||Nil||>1|
|2.||Floating rate : Non-individual||4% + taxes as applicable||>1|
|3.||Fixed rate : All borrowers||4% + taxes as applicable||>1|
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