BAJAJ FINSERV DIRECT LIMITED

Truhome Finance Loan Against Property Balance Transfer

Know the interest rate, maximum tenure, and other details about the loan against property balance transfer facility from Truhome Finance.

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Starting Interest Rate 12.50% p.a.
Max. Loan Amount ₹1 Crore
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Max. Tenure 25 Years

You can transfer the balance of your existing loan against property to Truhome Finance and enjoy extended repayment tenures of up to 25 years. You can apply for this facility on Bajaj Markets and save on repayment costs with low interest rates starting from 12.50% p.a. 

Access a loan amount of up to ₹1 Crore and benefit from a simple digital process that requires minimal documentation and can be completed with just a few clicks online.

Interest Rates and Charges for a Truhome Finance Loan Against Property Balance Transfer

With low interest rates, you can ensure flexible repayment when transferring your LAP to Truhome Finance. The table below provides an overview:

Parameters

Details

Interest Rates

12.50% p.a. onwards

Processing Fees

Up to 2.5% of the loan amount + GST

Foreclosure Charges

Nil for individual borrowers

Disclaimer: The details mentioned above are subject to change at the lender’s discretion.

Additional Fees and Charges for a Truhome Finance Loan Against Property Balance Transfer

This facility may involve certain additional fees. These costs form part of the overall borrowing expense and are important to review before proceeding with the transfer.

Particulars

Details

Charges on Account of Non-Submission/Registration of the PDC/NACH Mandate Form for EMI Payment

₹2,000 per transaction

Penal Charges

36% p.a. (Inclusive of GST)

CERSAI Fees

₹50 for loans up to ₹5 Lakhs

₹100 for loans greater than ₹5 Lakhs

Duplicate Statement Issuance Charges

₹250 per instance

Amortisation Schedule Issuance Charges

₹250 per instance

Mortgage Creation /Release Charges

As per state laws

Mortgage Guarantee Fee

Wherever Applicable

Disclaimer: The details mentioned above are subject to change at the lender’s discretion.

Features and Benefits of Truhome Finance Loan Against Property Balance Transfer

Convenient Tenures

You can benefit from flexible repayment tenures ranging up to 25 years.

Attractive Interest Rates

Transfer your loan at low interest rates starting at 12.50% p.a. and save on repayment costs

Guaranteed Transparency

There are no additional or hidden charges involved in the transfer application process.

Smooth Transfer Process

A smooth online process enables you to transfer your loan against property without having to submit extensive documents.

Affordable Insurance

Home insurance is available at affordable premiums along with the Truhome Finance Loan Against Property Balance Transfer facility.

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Available Types of Truhome Finance Loan Against Property

Truhome Finance provides loan against property balance transfer facilities for both residential and commercial properties. You can get loans to finance both types of properties as listed below:

  • Loan Against Residential Property

You can utilise the value of your residential property to meet personal or professional requirements. The loan is offered with flexible tenure options and competitive interest rates.

  • Loan Against Commercial Property

This option allows you to leverage your commercial property for financial needs such as business expansions, debt consolidations, or new investments. It comes with higher loan amounts, extended repayment periods, and attractive interest rates. 

Eligibility Criteria for a Truhome Finance Loan Against Property Balance Transfer

You need to fulfil the following criteria to be eligible for a Truhome Finance Loan Against Property Balance Transfer:

  • If salaried, you must have a work experience of at least 2 years

  • If self-employed, you must have worked in your respective field for at least 3 years 

  • Your monthly income should be more than ₹30,000

  • You should fall under the age bracket of 25 to 70 years

Documents Required for a Truhome Finance Loan Against Property Balance Transfer

Alongside the eligibility requirements, ensure to keep the following documents handy during the application process:

  • Duly completed loan application form

  • KYC Documents: Any one of the following 

  • Driving licence

  • Passport

  • Voter ID

Steps to Apply for a Truhome Finance Loan Against Property Balance Transfer on Bajaj Markets

You can apply for a balance transfer to Truhome Finance on Bajaj Markets in the following steps:

  1. Hit the ‘Check Offer’ button provided here

  2. You will land on the digital loan application page

  3. From the menu, pick ‘Loan Against Property Balance Transfer’

  4. Specify whether you are a Salaried Professional or a Business Owner

  5. Enter your mobile number to continue with eligibility verification

  6. Accept the terms of use and authorise data sharing where required

  7. Finally, select ‘Apply Now’ to complete the process

How to Track the Status of Your Truhome Finance Loan Against Property Balance Transfer

Truhome Finance allows you to easily monitor your balance transfer application status online. To do so, you can follow these steps: 

  1. Visit the official Truhome Finance website and navigate to the ‘Resources’ tab

  2. Click on ‘Track Your Application’ 

  3. Provide your registered mobile number and loan application ID

  4. Click on ‘Get OTP’ and enter the OTP received on your mobile number

  5. Your current application will be displayed after successful verification

How to Access Your Truhome Finance Loan Against Property Balance Transfer Statement

You can conveniently access and download your LAP balance transfer statement through the Truhome Finance mobile app. Follow these simple steps: 

  1. Download the Truhome Finance mobile app from the Google Play Store or the Apple App Store 

  2. Register/Login using your registered mobile number and verify with OTP 

  3. Navigate to the ‘Loan’ tab and click on the ‘Service Request’ option

  4. Select your loan against property balance transfer account 

  5. Click on ‘Download Statement’ to get your statement in PDF format 

Truhome Finance Loan Against Property Balance Transfer Repayment Options

The lender offers flexible ways to repay your loan against property balance transfer, ensuring you can manage EMIs according to your financial situation.

  • EMI Payments

You can continue paying fixed EMIs throughout the tenure. Each EMI covers both principal and interest, ensuring steady repayment without fluctuations. 

  • Part-Prepayment

You can make lump sum payments toward the loan in addition to your regular EMIs. This reduces the outstanding principal, leading to either lower EMIs or a shorter tenure.

  • Full Prepayment

You may choose to repay the entire outstanding loan amount, closing the loan before the end of the tenure. This helps save on future EMIs and interest outgo, subject to policy conditions.

Frequently Asked Questions

Do I need to submit any additional documents for a Truhome Finance Loan Against Property Balance Transfer?

You will need to submit your property documents as well as KYC and income documents to facilitate the transfer process. The lender may request additional paperwork in some cases.

Yes, Truhome Finance offers top-up loans along with balance transfer facilities. It allows you to access additional funds over and above the transferred loan.

The balance transfer process with Truhome Finance can take a few days to a few weeks. It depends on documentation, verification, and other procedures.

Yes, you can transfer your loan against property balance to Truhome Finance even if you have an existing loan with another bank.

Yes, the maximum loan amount can go up to ₹1 Crore for residential property.

Yes, Truhome Finance charges a processing fee of up to 2.5% of the loan amount plus applicable GST.

The EMI after transferring your loan against property is calculated based on the outstanding loan amount, the revised interest rate offered, and the chosen repayment tenure.

If you miss a repayment, you may incur late payment penalties and additional interest charges. It can also negatively impact your credit score.

A balance transfer with Truhome Finance can positively impact your credit score if you repay EMI on time. However, multiple loan enquiries or missed EMIs after transfer may lower your score.

Yes, Truhome Finance allows flexibility to switch between repayment options after transferring your loan against property. However, the change is subject to its terms, conditions, and applicable charges.

If your loan against property balance transfer application is rejected, check the reason for it. Improve factors like credit score, documentation, or your overall eligibility. You can also reapply after addressing the gaps or explore other lenders offering balance transfer options.

Yes, you can initiate your loan against property balance transfer with Truhome Finance online via Bajaj Markets.

If you transfer your loan against property to Truhome Finance, your existing insurance coverage remains valid and continues as per the original policy terms. Only the lender changes, not your insurance benefits.

Yes, you can transfer your existing loan against property balance to Truhome Finance and simultaneously apply for a new loan.

To be eligible, you need to meet certain conditions. If you are salaried, you must have a minimum of 2 years of work experience. For self-employed applicants, at least 3 years of experience in the respective field is required. 

Also, your monthly income should be above ₹30,000, and your age must fall between 25 and 70 years.

No, you do not have to pay any prepayment charges if you are an individual borrower and meet other conditions. However, charges may apply if you are a non-individual borrower, as per the applicable policy.

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