With the Bajaj Housing Finance loan against property balance transfer facility, getting better terms and interest rates on your loans is easy. This is because it allows you to transfer over your existing loan against property and avail more favourable terms.
Best of all, you can apply for this facility on Bajaj Markets and complete the process within minutes. Read on to know more about the loan against property balance transfer from Bajaj Housing Finance and how you can avail of it.
Bajaj Housing Finance Loan Against Property Balance Transfer Interest Rates and Charges 2023
Before applying for this facility, you must know the Bajaj Housing Finance loan against property balance transfer interest rate and other charges involved. The following table showcases the Bajaj Housing Finance loan against property balance transfer processing fees along with other charges you will have to pay.
Type |
Charges Applicable |
Interest Rate |
|
Processing fees |
0.40% of the loan amount |
Foreclosure charges |
4% of outstanding loan amount + GST |
Prepayment Fees |
2% of the outstanding loan amount + GST |
Disclaimer: The interest rate, foreclosure, and pre-payment charges are subject to change at the discretion of the lender.
Compare Bajaj Housing Finance Loan Against Property Balance Transfer Interest rates
Apart from Bajaj Finance Housing Limited, you can apply for a loan against property balance transfer from other partners on Bajaj Markets. The following table lists the interest rate that different partner lenders offer.
Partners |
Minimum Interest Rate |
10.20% p.a. |
|
10.85% p.a. |
|
9.45% p.a. |
|
9.25% p.a. |
|
12.50% p.a. |
|
13.90% p.a. |
Disclaimer: The interest rates are subject to policy changes of the lending partner.
Bajaj Housing Finance Loan Against Property Balance Transfer Features and Benefits
The following are some of the benefits you get to enjoy if you choose the Bajaj Housing Finance loan against property balance transfer facility:
Bajaj Housing Finance Loan Against Property Balance Transfer Eligibility Criteria
In order to avail of this financial product, you need to meet the following Bajaj Housing Finance loan against property balance transfer eligibility requirements:
You must be a citizen of India
If you are a salaried applicant, your age must be between 28 and 58 years
If you are a self-employed applicant, your age must be between 25 and 70 years
If you earn a salary, you must maintain employment in an MNC, private company, or public sector
As a self-employed individual, you must have a business with a steady income
Documents Required for Bajaj Housing Finance Loan Against Property Balance Transfer
These are the documents required for the Bajaj Housing Finance LAP balance transfer for both salaried and self-employed individuals:
Latest Salary Slips as income proof
Last 6 months’ bank account statements
PAN Card/Aadhaar Card
Address Proof
Copy of the documents of the property to be mortgaged
IT Returns
How to Apply for a Bajaj Housing Finance Loan Against Property Balance Transfer
Follow these steps to apply for a Bajaj Housing Finance loan against property balance transfer on Bajaj Markets:
Step 1: Click on “Apply Now” on this page, fill in your personal details, and check for a loan offer
Step 2: Select Bajaj Housing Finance Limited from the list of partners as the preferred lender
Step 3: Estimate your borrowing power to find out the amount you could possibly avail
Step 4: Fill out your required loan amount & details of the property
Step 5: Find out your loan details along with all the charges and net disbursal amount
Once you have completed this procedure, a loan expert will connect with you to further process your application.
- Bajaj Loan Against Property Balance Transfer EMI Calculator
- PNB Loan Against Property Balance Transfer EMI Calculator
- ICICI Loan Against Property Balance Transfer EMI Calculator
- Bajaj Loan Against Property Balance Transfer Interest Rates
- PNB Loan Against Property Balance Transfer Interest Rates
- ICICI Loan Against Property Balance Transfer Interest Rates
- Bajaj Loan Against Property Balance Transfer Eligibility
- PNB Loan Against Property Balance Transfer Eligibility
- ICICI Loan Against Property Balance Transfer Eligibility
Bajaj Housing Finance Loan Against Property Balance Transfer FAQs
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✔️How many times can I avail of a loan against a property balance transfer at Bajaj Housing Finance?
During the tenure of your loan, you may transfer your balance amount as many times as necessary. To avail of the transfer facility, you just have to follow the due process required each time.
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✔️What is a salaried Loan Against Property from Bajaj Housing Finance Limited?
It is applicable to salaried applicants. If you are a salaried employee, you can apply for Bajaj Housing Finance Loan Against Property Balance Transfer.
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✔️How can I get a loan against my property without proof of income at Bajaj Markets?
By applying with a co-applicant, a loan against property without proof of income can be availed on Bajaj Markets:
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✔️ In which cities can I get a Loan Against Property Balance Transfer from Bajaj Housing Finance?
You can avail of a Loan Against Property Balance Transfer from Bajaj Housing Finance in Delhi, Mumbai, Bengaluru, Ahmedabad, Pune, etc.
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✔️Do Bajaj Housing Finance LAP balance transfer loans have additional Tax benefits?
The tax benefits will be available to you as per Section 24B if you apply for an additional top-up option with the balance transfer and use the funds for expenses that qualify for tax benefits.
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✔️How will the Equated Monthly Instalments (EMIs) be calculated after transferring my Loan Against Property to Bajaj Housing Finance?
The remaining EMIs will be calculated based on the remaining principal amount once you have opted for Bajaj Housing Finance loan against property balance transfer.
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✔️How can I bring my LAP Balance Transfer EMI amount down at Bajaj Housing Finance?
By prepaying your EMIs for the LAP, you can bring down your LAP Balance Transfer EMI amount at Bajaj Housing Finance. You can also negotiate for a much lower interest rate to lower your monthly outgo.
