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Apply for the L&T Finance Loan Against Property Balance Transfer facility now available on Bajaj Markets and secure up to ₹5 Crores at a low interest rate.
Transfer the balance of your existing Loan Against Property to L&T Finance and enjoy lower interest rates starting at 9.65% p.a. This facility is now available on Bajaj Markets. The maximum loan amount available is ₹5 crores, with repayment tenures of up to 20 years. Additionally, you can apply for a top-up loan to meet any extra financial needs.
The list below demonstrates the L&T Finance LAP BT interest rates and primary charges:
| Particulars | Details |
|---|---|
Interest Rate |
9.65% p.a. onwards |
Processing Fee |
Up to 1% of the loan amount + GST |
Part-prepayment Charges |
5% of the outstanding loan amount if the amount prepaid is over 25% of the outstanding amount in a financial year |
Foreclosure Charges |
|
*Disclaimer: The rates and charges mentioned above are subject to change at the lender’s discretion.
Based on different actions, you may be liable for some other charges as well. The table below represents some of these prominent charges associated with the loan:
| Particulars | Details |
|---|---|
Late Payment Charges / Penal Charges |
2% per month on overdue EMI + taxes |
Duplicate NOC Charges |
₹ 250 + applicable taxes (first 3 paper copies - free of cost) |
Cash Pickup Charges |
Nil |
Loan Cancellation Charges |
₹5,000 + applicable taxes |
Non-Compliance Charges |
Up to 1% p.a. of principal outstanding loan amount + taxes |
*Disclaimer: The rates and charges mentioned above are subject to change at the lender’s discretion
Save big with affordable interest rates starting at just 9.65% p.a. This comparatively low interest rate will make your repayments more manageable.
Repay the loan over flexible tenures that can range up to 20 years. With this option, you will have plenty of time to repay comfortably.
The digital documentation process allows you to avoid the hassles of paperwork and save on time.
Secure a top-up loan affordably and fulfil your additional requirements with ease.
L&T Finance offers multiple LAP Balance Transfer options tailored to different property types, along with benefits like top-up loans.
You can transfer your existing Loan Against Property (LAP) for self-occupied, rented, or vacant residential properties to L&T Finance Limited. This helps consolidate your loan under better terms and interest rates. The facility also provides a streamlined repayment process, making loan management easier.
When transferring your LAP, you can access additional funds through a top-up loan. This allows you to meet personal or business financial needs without applying for a separate loan. The top-up loan comes with flexible repayment options and a competitive interest rate.
Make sure to meet the following criteria to be eligible for an L&T Finance Loan Against Property Balance Transfer:
You must have paid at least 12 EMIs of the loan you want to transfer
You must be between 23 and 62 years of age
Transfer of loans from only approved financial institutions is allowed
Only loans taken against residential properties will be eligible for a balance transfer
The Title document ownership should remain with you
Along with meeting the eligibility terms, you need to provide the following documents during the application process:
Follow these easy steps to apply for this balance transfer facility on Bajaj Markets:
Select the ‘Check Eligibility’ option provided on the page
You will be redirected to the online application form
From the list, pick ‘Loan Against Property’ as the preferred loan type
Specify your profession by choosing between Salaried or Self-Employed/Business Owner
Provide your mobile number to continue with the eligibility check
Agree to the terms and give consent for sharing your details as required
Press ‘Apply Now’ to finalise and submit your application
You can track the status of your LAP balance transfer only through official L&T Finance sources and direct channels. Use the following approved methods:
Visit the official portal of the LTFS self-help option page
Log in with your personal and loan-related details and view your loan status or the progress of your balance transfer application
Download the ‘L&T Finance PLANET’ app from the Google Play Store or the Apple App Store
Log in with your registered credentials to monitor application status and account details
Call 1800-268-0000
Email customercare@ltfs.com from your registered email address to receive written updates
Visit the nearest L&T Finance branch
Provide your ID documents and your loan account details to get the latest status
The lender offers multiple official platforms for downloading your loan statement with the L&T Finance PLANET App being one of the most convenient options. After logging into the app, follow these steps:
Navigate to the ‘Loan Details’ section and select ‘My Documents’
Choose the ‘Download’ option next to ‘Statement of Accounts’
To access the statement, enter your date of birth along with the last four digits of your registered mobile number
You can choose from multiple repayment methods depending on your financial plans. These options allow you to manage your loan effectively and reduce your interest burden.
This option allows you to settle the entire outstanding principal before the loan tenure ends. By closing the loan early, you save on future interest and achieve financial freedom sooner.
Here, you can pay a lump-sum amount toward the outstanding loan balance while keeping the account active. It helps reduce the principal, giving you the flexibility to either lower your EMIs or shorten the repayment period.
In some cases, you may be able to choose flexible EMI plans to match your income flow. You can increase or decrease the EMI amount during the tenure, ensuring better alignment with your financial situation.
Yes. Along with transferring the balance of your existing loan against property, you can also get a top-up loan to meet any additional financial needs.
The process typically takes 15-20 days for final approval. This time frame depends on the verification processes and other formalities.
Yes, the balance transfer process works by shifting the outstanding loan amount from the current provider to a new one, usually with revised terms and conditions.
When you apply for the L&T Finance Loan Against Property Balance Transfer through Bajaj Markets, you can secure a loan of up to ₹5 Crores. The exact amount may depend on factors such as your property value, income, and repayment capacity.
Yes, you need to pay a processing fee amounting to 1% of the outstanding balance amount + GST when you opt for this facility.
Yes, the lender offers a top-up facility along with a balance transfer. Through this, you will get additional funds for business or personal needs.
The calculator will use the same formula to calculate your EMI, but will use your current outstanding amount, interest rate, and tenure.
The formula is ‘EMI = [P x R x (1+R)^N] / [(1+R)^N]. Here, P is the principal loan amount, R is the monthly interest rate, and N is the loan tenure.
Yes, it is possible to transfer a Loan Against Property (LAP) balance from a non-banking financial company to L&T Finance Limited. The approval will depend on your eligibility and document submission.
In that case, you will have to pay charges for late payment, which is 2% per month on overdue EMI with applicable taxes.
A balance transfer can impact your credit score in two ways. A new application triggers a hard inquiry that may lower your score briefly. However, it can also support faster debt repayment, which can boost your score.
Yes, it is possible, but the lender charges a Repayment Swap Fee of ₹500 + applicable taxes for each swap. This fee applies only if you request the change through a branch walk-in.
You can contact the lender directly to understand the specific reasons for the rejection. Instead of applying again and attracting more hard enquiries, it may be better to focus on improving your credit and financial profile.
Yes, the lender provides different online means to complete your application process with convenience. You can use their website or app.
You need to inform your insurance company about the change in lender. You can continue with your existing insurance policy by updating the financier details.
You can apply for different loans with L&T Finance. However, instead of managing multiple loans separately, you can opt for a top-up facility along with your loan against property balance transfer. This allows for easier management while maintaining the same terms and repayment structure.
The eligibility criteria for L&T Finance LAP Balance Transfer are:
At least 12 EMIs must be paid on the loan to be transferred
Age must be between 23 and 62 years
Only loans from approved financial institutions are eligible
Only residential property loans qualify for transfer
You must retain ownership of the title document
There are no part-prepayment charges applicable when you are transferring a home loan at a floating rate for non-commercial or non-business uses as an individual borrower. If your property is related to business or commercial use, L&T Finance Limited charges 4% for prepayments within 12 months and 3% for prepayments after 12 months.
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