Here are the various charges associated with Bajaj Housing Finance Home Loan Balance Transfer:
Benchmark Rate (BR) |
Prevailing BR |
Loan type |
Type of Rate |
BR + Spread |
Effective Rate of Interest (per annum |
Repo Rate (RR) |
4.00% |
Top up |
Floating |
RR+ 3.75 % to RR+ 8.00% |
7.75% to 10.00% |
Salaried Floating Reference Rate (SAL-FRR) |
12.90% |
Top up |
Floating |
FRR-5.15% to FRR -0.90% |
7.75% to 10.00% |
Self Employed Floating Reference Rate (SE-FRR) |
13.30% |
Top up |
Floating |
FRR-4.30% to FRR +0.20% |
7.75% to 10.00% |
The interest rates are subject to policy changes of Bajaj Housing Finance Limited
Foreclosure Charges Grid from Home Loan Balance Transfer
Borrower Type/Interest Type |
Time Period (Months) |
Foreclosure Charges |
Individual: Floating rate* |
Greater than 1 Month |
Nil |
Non-individual: Floating rate |
Greater than 1 Month |
4% plus GST |
All borrowers: Fixed rate* |
Greater than 1 Month |
4% plus GST |
For Term Loan, charges are calculated on the outstanding principal.*
Prepayment Charges Grid for Home Loan Balance Transfer
Borrower Type/Interest Type |
Time Period (Months) |
Prepayment Charges |
Individual: Floating rate* |
Greater than 1 Month |
Nil |
Non-individual: Floating rate |
Greater than 1 Month |
2% plus GST |
All borrowers: Fixed rate* |
Greater than 1 Month |
2% plus GST |
For Term Loan, charges are calculated on the outstanding principal.*
Balance transfer can be beneficial in terms of a lower rate of interest and top-up loan options.
Yes. Provided the person is eligible for Home Loan and you are able to foreclose the loan.
Yes. The home loan should, however, be availed after 17 June 2015.
The maximum limit for transfer is Rs. 2.5 Crore.
You should avail transfer facility; in case you are currently paying a higher rate of interest.
You must not consider transferring your home loan if:
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