• 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)
  • ICICI Bank

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    

    8.75% p.a. to 10% p.a.

  • 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

    9.50% p.a. – 10.15% p.a. (for both salaried and self-employed applicants)

  • PNB Housing Finance

    Associated Charges

    Processing Fee: 1% of the loan amount

  • PNB Housing Finance

    Repayment tenure

    • Up to 180 months (for salaried applicants)
    • Up to 300 months (for self-employed applicants)
  • 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
  • ICICI Bank
    Interest Rate
    8.35% p.a. – 9.50% p.a.
  • 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
    12 months - 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