Choose a Home Loan Balance Transfer on Bajaj Markets and enjoy lower interest rates
A home loan balance transfer is a great option if you are burdened by your current EMI payments. With the help of this facility, you can transfer your loan from your existing lender to a new one to benefit from better loan terms. Opt for this facility on Bajaj Markets at affordable interest rates starting from 8.50% p.a. Similar to a loan refinance, this option can help you make massive savings on interest costs. You can apply for a home loan balance transfer online and choose a convenient repayment timeline of up to 30 years. You can also opt for top-up loans and meet your additional requirements when transferring the balance of your home loan.
Our Partners
|
Minimum Interest Rate
|
Maximum Loan Amount
|
Maximum Loan Tenure
|
|
---|---|---|---|---|
Quick Disbursal
Bajaj Housing Finance |
8.60% p.a. |
₹2.5 Cr |
30 Years |
|
ICICI Bank |
8.75% p.a. |
₹5 Cr |
30 Years |
|
Kotak Mahindra Bank |
9.00% p.a. |
₹0.50 Cr |
20 Years |
|
L&T Finance |
8.65% p.a. |
₹7.5 Crores |
25 Years |
|
LIC Housing Finance |
8.65% p.a. |
₹15 Cr |
30 Years |
|
Quick Disbursal
PNB Housing Finance |
8.50% p.a. |
₹15 Cr |
30 Years |
|
Sammaan Capital |
8.75% p.a. |
₹5 Cr |
30 Years |
|
Shriram Housing Finance |
11.50% p.a. |
₹1 Cr |
25 Years |
|
Shubham Housing Finance |
10.90% p.a. |
₹0.50 Cr |
25 Years |
|
Union Bank of India |
8.50% p.a. |
₹15 Cr |
30 Years |
|
Vridhi Home Finance |
12% p.a. |
₹25 Lakhs |
12 Years |
|
*Disclaimer: The interest rates listed above are subject to constant change as they are affected by several factors. Please check the prevailing interest rate with your lender before applying.
Here are the charges associated with a home loan transfer on Bajaj Markets:
Types of Charges |
Details |
Processing Fee |
Up to 2.5% + GST |
Foreclosure Charges |
Nil to 4% + GST |
Prepayment Charges |
Nil to 5% + GST |
Administrative Charges |
Up to ₹5,000 + GST |
Charges on Copy of Any Document |
₹500 + GST |
Repayment Mode or Account Swap Charges |
₹500 + GST |
Penal Interest Charges |
Up to 2% on unpaid EMI + GST per month |
Instrument Dishonour Charges |
₹500 + GST |
Other Charges |
Up to 1% |
*Disclaimer: These rates are subject to change at the lender’s discretion.
Here are some features you can enjoy when you opt for a home loan transfer on Bajaj Markets:
Similar to a refinance option, you can ease your repayment burden with a lower interest rate starting from 8.50% p.a.
Get access to an additional loan amount with no restrictions on end usage and meet your needs
Opt for a tenure of up to 30 years and minimise the stress on your monthly budget with reduced EMIs
Enjoy speedy approval so you can start saving more as you repay your home loan
Opt for a loan amount of up to ₹15 Crores and complete the formalities easily and quickly
Here is the process to follow when applying for a home loan balance transfer on Bajaj Markets.
Click on the ‘Apply Now’ button on this page
Enter your basic personal details on the online application form
Enter the loan amount and preferred repayment tenure
Submit the form for verification
Getting a home loan balance transfer on Bajaj Markets helps you benefit from the following:
Ample funding coupled with affordable interest rates and a lengthy repayment tenure, makes the transfer process hassle-free
Meet the simple eligibility terms and get the required funding soon after approval and verification
Provide basic documentation based on the lender’s requirements for speedy processing
All balance transfer charges you have to pay are mentioned clearly on Bajaj Markets
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
A home loan balance transfer enables you to transfer your current loan obligation from one lender to another. Ideally, you opt for this facility when you can get a home loan at affordable interest rates from another lender.
A home loan transfer can be a smart financial decision, offering umpteen benefits if planned properly. It allows you to bring down your EMIs with a lower interest rate and a longer tenure. You need to assess various factors when deciding to transfer your home loan from one lender to another.
Some of the benefits you get to enjoy include lower interest rates, an option to get a top-up loan facility and an extension of the loan tenure. You may also change your existing interest rate type from fixed to floating or vice versa.
You can transfer your home loan from one bank to another by visiting the lender’s website and checking the interest rates, loan terms, and other essential details. Then, provide details of your existing property and loan.
You may get a loan offer from the new lender if you meet the required eligibility criteria. Pay the fees and charges associated with the balance transfer facility. Lastly, upload the supporting documents for verification to the new lender.
There is no cap as such. You can transfer the entire outstanding home loan amount to a different lender, depending on the loan terms you are eligible for.
Yes, you can get a top-up from the same financial institution when you opt for the home loan balance transfer. Remember, interest rates on the top-up facility may be slightly higher than the home loan interest rate.
Yes, you can extend your repayment period when opting for a home loan balance transfer.
A majority of Indian lending institutions do not ask for a guarantor while taking over an existing home loan. However, it is entirely upon the new lender to decide whether or not a guarantor is required when you apply for home loan balance transfer facility.
When applying for a home loan balance transfer, you can enjoy an extended period of up to 30 years on Bajaj Markets. This also depends on the new lender you choose and your age.
You can enjoy the same tax benefits on your home loan repayment even after you complete a balance transfer. This includes a tax exemption on the home loan interest as well as the principal.
However, when you take a top-up loan during a home loan balance transfer, you can only enjoy tax savings based on the end use of the funds.
Yes, there are some fees and additional charges you may have to pay when you opt for a home loan balance transfer. Some of these charges include processing fees, home loan transfer charges, etc.
The duration of the balance transfer process depends on the lender you choose. Once you submit the required documentation, the process is generally completed within 5 to 10 days.