✓ Loan Against Property Balance Transfer Facility ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 9.24% Check Eligibility

To get your Loan Against Property (LAP) balance transferred to a new lender, you will need to satisfy the conditions laid out by the institution. You can learn more about the loan against property balance transfer eligibility criteria and how to improve your chances here.

LAP Balance Transfer Eligibility Criteria

Listed below are the common loan against property balance transfer eligibility criteria that apply to most lenders:

  • You should be an Indian resident 

  • You should be between 23-70 years

  • Your monthly/annual income should be in line with the lender’s terms 

  • You should be employed with an MNC, a private sector company, a public sector firm, or be self-employed

  • You should reside in cities mentioned by the lender (generally in Mumbai, Delhi, Pune, Hyderabad, Bangalore, Gurugram, Surat, Chennai, Jaipur, Lucknow, and more)

Documents Required to avail LAP Balance Transfer Facility

  • PAN Card

  • Aadhaar Card

  • Copy of the property documents 

  • Address proof

  • Last 3 months’ bank account statements

  • Latest salary slips (3 months), if salaried

  • Audited financial statements, if self-employed

  • IT Returns in the name of the salaried applicant or the name of the business venture of the self-employed individual

How to Improve your LAP Balance Transfer Eligibility

The eligibility criteria for loan against property balance transfer may differ from lender to lender. Meeting these terms is one of the most vital factors that affect how seamlessly you can transfer your LAP balance to a new lender. 



Generally, lenders have eligibility criteria that showcase your repayment ability. As a result, these criteria are generally related to your age, income, credit score, and nature of employment. 


To ensure that you meet the loan against property balance transfer eligibility criteria and boost your chances of approval, try the following options:

  • Increase your disposable income

Your income is an essential criterion as it directly affects your ability to repay on time. The higher your disposable income, the better your eligibility. 

To improve this, you can repay your existing debt to reduce your obligations. You can also find a way to increase your income by freelancing or via other means. 

  • Improve your credit score

Your credit score summarises your creditworthiness. It plays a vital role in helping you secure affordable credit hassle free. 

Generally, lenders require a credit score of 750 and above. To improve your score, start by ensuring you repay all loans and credit card bills  on time. Also reduce your credit utilisation ratio. 

  • Apply with a lender you have a relationship with

Applying with a known lender improves your eligibility as the lender already knows your repayment behaviour and has your profile on file.

So, if you have repaid other dues as per deadlines and in full, applying with the same lender again can improve your chances of quick approval.

  • Adjust your loan terms

Lenders also factor in your loan terms, i.e., your chosen loan amount and tenure, while assessing your application. As a result, altering these terms can help you meet the loan against property balance transfer eligibility criteria. 


If your loan amount and tenure result in an EMI that is not feasible for your current disposable income, you can adjust it. Lowering your amount and increasing your tenure can reduce your monthly repayment burden. 


This may help you boost your eligibility. However, keep in mind that it will also impact your overall borrowing costs. Change the terms only if it suits your pocket. 


At Bajaj Markets, you can enjoy easy-to-meet loan against property balance transfer eligibility criteria. That’s not all. You can also avail the facility at attractive rates with a flexible repayment tenure through a completely digital process.

Read More

FAQs on Loan Against Property Balance Transfer Eligibility Criteria

How do lenders calculate the eligibility for a loan against property balance transfer?

Lenders factor in how well you meet the loan against property balance transfer eligibility criteria set by them to assess your eligibility. These include your income, age, credit score, employment and more. Lenders consider other factors like your monthly expenses and property value.

Is CIBIL score a loan against property balance transfer eligibility criteria?

Yes, generally, lenders have a CIBIL score criteria that borrowers need to meet for most forms of credit. The minimum CIBIL score requirement, however, varies from lender to lender. Ideally, you should have a score of 750 or above.

Why would a lender reject an application for a LAP balance transfer?

There are many reasons why a lender may reject an application. One of them is if you do not meet the loan against property balance transfer eligibility criteria set by them. You can contact the lender for details and re-apply once you resolve the issue.

How can I avoid rejection on my LAP balance transfer application?

Approval and rejection are at the lender's discretion. However, you can improve your chances for quick and seamless approval. You can do this by ensuring that you meet all the loan against property balance transfer eligibility criteria set by the lender.

Download App
Credit Score