• OVERVIEW

Loan Against Property Balance Transfer Online

Loan Against Property Balance Transfer facilitates the transfer of outstanding loan amount to another financial institution at comparatively lower interest rates. This facility is one of the best ways to reducing your EMI outflow, thus helping in saving a lot of money. At Bajaj MARKETS, you can avail of this facility and enjoy a completely hassle-free experience. You can transfer your balance through 100% online process and with minimal documentation.

Our Lending Partners

  • Bajaj Housing Finance Limited (BHFL)
  • Home First Finance Company (HFFC)
  • Punjab National Bank Housing Finance (PNB HFC)
  • LIC Housing Finance
  • ICICI Bank
  • Shubham Housing Development Finance

Requirement for Online Loan Against Property Balance Transfer Application

  1. You must be a resident of India
  2. You must be at least 21 years of age at the time loan application.
  3. You should be a salaried employee in an MNC, a private company or the public sector enterprise or a self-employed individual with a steady source of income.
  4. You must have a good CIBIL score.

The documents required to avail the facility of loan against property balance transfer (both salaried and self-employed individuals) are as follows:

  • Latest Salary Slips as income proof
  • Last 6 months’ bank account statements
  • PAN Card/Aadhaar Card
  • Address Proof
  • Copy of the documents of the property to be mortgaged
  • IT Returns

Loan Against Property Balance Transfer Application Process

You can apply for a Loan Against Property in a few steps:

  • Enter your income and personal details.
  • Get your loan eligibility instantly.
  • Choose the product of your preferred partner from the list of multiple partner offerings.
  • Fill the loan amount as per your requirement.
  • Provide details of your property.
  • Find your final loan amount along with all the charges and net disbursal amount.

Charges for Loan Against Property Balance Transfers

There are certain charges associated with Loan Against Property Balance Transfers. The charges may vary from one financial institution to the other.

Hence, it is important to be aware of all the information regarding fees and charges. 

Type

Charges Applicable

Interest Rate

8.80% onwards

Processing fees

Usually up to 1% of the loan amount

Foreclosure charges

Usually 4% of outstanding loan amount + applicable taxes

Prepayment Charges

NIL

Features & Benefits

  • Partner Name
    Key Feature
    Key Feature Description
  • Bajaj Housing Finance Limited

    Interest Rate    

    • Salaried Applicants: 9.00% p.a. onwards
    • Self-employed Applicants: 10.50% p.a. onwards
  • Bajaj Housing Finance Limited

    Associated Charges

    Processing Fees: Up to 0.40% of loan amount plus applicable charges

  • Bajaj Housing Finance Limited

    Repayment tenure

    Up to 360 months

  • Bajaj Housing Finance Limited

    Eligibility Criteria

    1. The applicant must be the citizen of India.
    2. TThe salaried applicant’s age must be between 28 and 58 years.
    3. The self-employed applicant’s age must be between 25 and 70 years.
    4. The salaried applicant must work in an MNC, private company or public sector and self-employed individual must have a business with a steady income.
  • Bajaj Housing Finance Limited

    Documents Required

    1. Identity Proof: PAN/Voter ID/Aadhaar Card
    2. Address proof: Aadhaar Card/Passport/Driving License
    3. Bank Statements of last 3 months
    4. Salary Slips
    5. Copy of IT Returns (for Self Employed)
    6. Copy of the documents of the property to be mortgaged
  • PNB Housing Finance

    Interest Rate

    8.25% p.a. onwards

  • PNB Housing Finance

    Associated Charges

    Processing Fee: 1% of the loan amount

  • PNB Housing Finance

    Repayment tenure

    Up to 240 months

  • PNB Housing Finance

    Eligibility Criteria

    1. The age of applicant (salaried or self-employed) must be between 21-70 years.
    2. The minimum monthly income of the applicant must be Rs. 18,000.
    3. Salaried applicants must have a work experience of at least 3 years and self-employed applicants must have a total business vintage of minimum 5 years.
  • PNB Housing Finance

    Documents Required

    1. Identity Proof: PAN/Voter ID/Aadhaar Card
    2. Address proof: Aadhaar Card/Passport/Driving License
    3. Latest Degree to validate educational qualification
    4. Salary slips of last 3 months (applicable for salaried applicants)
    5. Certificate & Proof of business existence (applicable for self-employed applicants)
    6. Form 16 for the last 2 financial years (applicable for salaried applicants)
    7. ITR for the last 3 financial years (applicable for self-employed applicants)
    8. Self-attested photocopy of the Title Documents of the Property and Approved Plan
  • LIC Housing Finance
    Interest Rate

    7.8% p.a. onwards

  • LIC Housing Finance
    Associated Charges
    • Processing Fee: 0.50% of loan amount.
    • Upfront Fees: 1.00% of Loan Amount + Service Tax, as applicable.
  • LIC Housing Finance
    Repayment tenure
    • Up to 360 months (for salaried applicants)
    • Up to 240 months (for self-employed applicants)
  • LIC Housing Finance
    Eligibility Criteria
    1. The age of self-employed applicant must be above 21 years when applying and below 70 years at the time of loan maturity. For salaried applicants, the retirement age is the maximum age limit.
    2. The salaried applicant must have a minimum net monthly income of Rs. 35,000 per month, if residing in a metro city and Rs. 25,000 per month, if residing in a non-metro city.
    3. The Profit After Tax (PAT) of the self-employed applicant must be Rs. 6 Lakhs per annum, if residing in a metro city and Rs. 4 Lakhs per annum, if residing in a non-metro city.
    4. Self-employed applicants must file ITR for at least 3 years.
  • LIC Housing Finance
    Documents Required
    1. KYC Documents: Pan Card/Aadhaar Card/Passport (Required for NRIs)/Proof of residence
    2. Salary slips and Form No.16 for salaried applicants
    3. Income tax returns of last 3 years along with financials for self-employed or professionals
    4. Bank statements for last 6 to 12 months
    5. Property Documents (if you have identified the property) :
      • Proof of ownership of property/Allotment letter of builder/society (required for flats)
      • Up to date tax paid receipt
  • ICICI Bank
    Interest Rate

    9.15% p.a. onwards

  • ICICI Bank
    Associated Charges
      Processing Fee:
    • 0.5% of the loan amount + Applicable Taxes
    • Administrative charges:
    • Rs. 5,000 + Applicable Taxes or 0.25% of the loan amount + Applicable Taxes, (whichever is lower)
  • ICICI Bank
    Repayment tenure

    Up to 180 months

  • ICICI Bank
    Eligibility Criteria
    1. The salaried applicant’s age must be between 23-60 years.
    2. The self-employed applicant’s age must be between 23-65 years.
    3. The minimum monthly net income of the salaried applicant must be Rs. 25,000.
    4. The minimum PAT (Profit After Tax) of a self-employed applicant must be Rs. 25000 per month.
    5. The salaried applicant must have a work experience of 1 year at least.
    6. The business vintage of at least 2 years is required for self-employed applicants.
  • ICICI Bank
    Documents Required
    1. Identity Proof: PAN/Voter ID/Aadhaar Card
    2. Address proof: Aadhaar Card/Passport/Driving License
    3. Bank statements of last 6 months
    4. Salary slips of last 3 months (for salaried applicants)
    5. Certificate & Proof of business existence (for self-employed applicants)
    6. Form 16 / Income Tax Returns
    7. Property Documents
    8. Passport sized photo
  • Shubham Housing Development Finance
    Interest Rate
    15% -19%
  • Shubham Housing Development Finance
    Associated Charges
      Processing fee:
    • Up to Rs. 3 Lakhs: Rs. 9500+GST
    • Rs. 3 Lakhs - Rs. 6 Lakhs: Rs. 13500+GST
    • Rs. 6 Lakhs - Rs. 10 Lakhs: Rs. 18000+GST
    • Rs. 10 Lakhs - Rs. 12 Lakhs: Rs. 27000+GST
    • Above Rs. 12 Lakhs – Rs. 27000+3% of the loan amount over and above Rs. 12 Lakhs + GST
    • Zero Foreclosure charges
  • Shubham Housing Development Finance
    Repayment Tenure
    Up to 180 months
  • Shubham Housing Development Finance
    Eligibility Criteria
    1. The applicant should be above 21 years and not more than 70 years at the time of loan maturity.
    2. The applicant must have a bank account.
    3. The applicant should be residing in a city where Shubham Housing Development Finance’s office is located.
    4. All the owners of the property being financed and all individuals whose income has been considered for the loan have to be the co-applicants to the loan.
  • Shubham Housing Development Finance
    Documents Required

    Salaried Applicants:

    1. Application form with all required details filled in and application
    2. Identity proof such as PAN card, Voters ID Card, Aadhaar Card, Passport
    3. Address proof such as electricity bill, utility bill, ration card, latest salary slip, if available
    4. Bank passbook or bank account statement
    5. Income Tax returns, if available
    6. Copies of the property papers

    Self-employed Applicants:

    1. Application form with all required details filled in
    2. Identity proof such as PAN card, Voters ID Card, Aadhaar Card, Passport
    3. Address proof such as electricity bill, ration card
    4. Income proof documents, if available
    5. Bank passbook or bank Statements
    6. Copies of the property papers