Home Loan Balance Transfer Interest Rates

Compare the home loan balance transfer interest rates with ease on Bajaj Markets

Select Your Profession

Salaried Employee

Business Owner

✓ Home Loan Balance Transfer Facility ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.50% Apply Now

Home loan balance transfer facility can help you reduce the interest outgo on your home loan. On Bajaj Markets, you get competitive home loan balance transfer interest rates from various lenders starting at 8.50% p.a.

Fees and Charges

Here are the home loan balance transfer interest rates offered by some of the top lenders on Bajaj Markets:

Lending Partners	Interest Rates (% p.a.)	Additional Charges
Bajaj Housing Finance Limited	Starting at 8.95% p.a.	Processing fees: Up to 6% of the loan amount Foreclosure charges: 4% + GST (Nil in case of individual with floating interest rate) Prepayment charges: 2% + GST (Nil in case of individual with floating interest rate)
ICICI Bank	Starting at 8.75% p.a	Processing fees: ₹3,000 plus GST and an administrative charge of 0.25% of the loan amount, subject to a minimum of ₹5,000 (plus GST) Foreclosure charges: 2% + applicable GST for fixed-rate loans Prepayment charges: 2% + applicable GST for fixed-rate loans
Kotak Mahindra Bank	Starting at 9.00% p.a.	Processing fees: 0.5% of loan amount plus applicable taxes Foreclosure charges: NIL Prepayment charges: NIL
LIC Housing Finance	Starting at 8.65% p.a.	Processing fees: Up to 0.25%, ₹10,000, or ₹50,000 + GST, depending on loan amount Foreclosure charges: NIL Prepayment charges: NIL
PNB Housing Finance Limited	Starting at 8.50% p.a.	Processing fees: Up to 0.5% of the loan amount Foreclosure charges: 2% of the outstanding loan amount Prepayment charges: 2% of the outstanding loan amount
Shriram Housing Finance	Starting at 11.50% p.a.	Processing fees: Up to 2.5% of the loan amount + taxes Foreclosure charges: NIL for individual borrowers Prepayment charges: NIL for individual borrowers
Shubham Housing Finance	Starting at 10.90% p.a.	Processing fees: Up to ₹27,000 or 3% of loan amount + taxes, depending on the loan amount Foreclosure charges: NIL Prepayment charges: NIL
Union Bank of India	Starting at 8.50% p.a.	Processing fees: Up to 0.5% of the loan amount or ₹15,000, whichever is higher Foreclosure charges: 2% + applicable GST for fixed-rate loans Prepayment charges: 2% + applicable GST for fixed-rate loans

Disclaimer: The information presented in the table above is subject to change at the lender’s discretion. Check the latest charges with the lender before you apply.

When opting for this facility, consider the home loan balance transfer processing fee, interest rates, credit terms, and other charges.

Currently, lenders are offering attractive home loan balance transfer interest rates. At Bajaj Markets, you can avail this facility at competitive rates starting from 8.50% per annum.

The home loan balance transfer processing fee depends on the lender and your loan amount. Generally, it is a certain percentage of your loan amount or a fixed slab rate.

When a new lender offers interest rates that are lower than that of your existing lender, opting for a balance transfer is a feasible solution. This reduces your interest burden, making this facility a cost-effective option.

Various factors affecting home loan balance transfer interest rates include your repayment history, income and employment, and your relationship with the lender.

Yes, you can negotiate with your lender to get lower home loan balance transfer interest rates if you have a high credit score and a strong financial standing.

Typically, the minimum credit score requirement to get competitive home loan balance transfer interest rates is 700 or above. A high credit score reflects strong creditworthiness, and hence, lenders consider you a reliable borrower and offer lower interest rates.

Yes, home loan balance transfer interest rates are typically lower than interest rates for a new home loan. This facility also allows you to choose a new repayment tenure, as per your preferences.

No, the processing fee for a home loan balance transfer is not refundable. However, lenders only charge the processing fee once the balance transfer is approved.

Yes, the processing fee varies based on the loan amount since it is a percentage of the total home loan balance transfer amount.

Yes, you can negotiate with your lender for the waiver or reduction of the processing fee on your home loan balance transfer. This is easier when you have a high credit score and strong financial standing since it makes you a creditworthy borrower.