Know the interest rate, maximum tenure, and other details about the loan against property balance transfer facility from Truhome Finance.
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.
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.
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.
You can benefit from flexible repayment tenures ranging up to 25 years.
Transfer your loan at low interest rates starting at 12.50% p.a. and save on repayment costs
There are no additional or hidden charges involved in the transfer application process.
A smooth online process enables you to transfer your loan against property without having to submit extensive documents.
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:
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.
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.
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
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
You can apply for a balance transfer to Truhome Finance on Bajaj Markets in the following steps:
Hit the ‘Check Offer’ button provided here
You will land on the digital loan application page
From the menu, pick ‘Loan Against Property Balance Transfer’
Specify whether you are a Salaried Professional or a Business Owner
Enter your mobile number to continue with eligibility verification
Accept the terms of use and authorise data sharing where required
Finally, select ‘Apply Now’ to complete the process
Truhome Finance allows you to easily monitor your balance transfer application status online. To do so, you can follow these steps:
Visit the official Truhome Finance website and navigate to the ‘Resources’ tab
Click on ‘Track Your Application’
Provide your registered mobile number and loan application ID
Click on ‘Get OTP’ and enter the OTP received on your mobile number
Your current application will be displayed after successful verification
You can conveniently access and download your LAP balance transfer statement through the Truhome Finance mobile app. Follow these simple steps:
Download the Truhome Finance mobile app from the Google Play Store or the Apple App Store
Register/Login using your registered mobile number and verify with OTP
Navigate to the ‘Loan’ tab and click on the ‘Service Request’ option
Select your loan against property balance transfer account
Click on ‘Download Statement’ to get your statement in PDF format
The lender offers flexible ways to repay your loan against property balance transfer, ensuring you can manage EMIs according to your financial situation.
You can continue paying fixed EMIs throughout the tenure. Each EMI covers both principal and interest, ensuring steady repayment without fluctuations.
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.
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.
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.