A home loan balance transfer is a facility that allows home loan borrowers to transfer the outstanding home loan to a new lender. By doing so, the borrower can avail better deals offered by the new lender, and these may include a lower home loan interest rate. Additionally, transferring your current loan to Bajaj Finserv Limited also qualifies you for other advantages.
These benefits of a home loan balance transfer include the following.
- Customizable repayment plans
- Customized schemes for insurance
- High-value top-up loans over and above the existing home loan
- Digital loan management tools
- No hidden charges with this type of loan transfer facility
Home loan balance transfer eligibility
To avail the Bajaj Finserv Limited home loan balance transfer facility, these are the criteria applicants must fulfill:
- Applicant must be an Indian citizen residing in the country
- Applicant must between 23 years and 62 years, if salaried, and between 25 years and 70 years if self-employed
- Applicants must have work experience of at least 3 years
- Applicants running a business or professional practice should have a business vintage of a minimum of 5 years
To avail this feature, simply submit your home loan application form online and get approval easily.