Save on repayment costs by transferring the balance of your existing loan against property with LIC Housing Finance on Bajaj Markets. You can benefit from lower EMI amounts with interest rates starting from just 9.45% p.a. Transfer your loan seamlessly through the online process and get extended repayment tenures of up to 15 years.
LIC Housing Finance Loan Against Property Balance Transfer interest rates and charges are as mentioned below:
9.45% p.a. onwards
1% of the loan amount
2.5% of the loan amount (for fixed rate loan)
*Disclaimer: The aforementioned rates and charges are subject to change at the lender’s discretion.
Fulfil the following criteria to be eligible for this balance transfer facility:
You must fall under the age bracket of 21 to 65 years
You must be a self-employed professional or a salaried employee working in a reputed private company or any government organisation
You should have a minimum monthly income of ₹25,000
The age of the property mortgaged should not be more than 35 years
Keep the following documents handy when applying for a balance transfer:
Identity proof: Any one of the following
Address proof: Any one of the following
A duly filled and signed application form with a photograph
Bank statement of the last 6 months
Salary slips of the last 3 months
Form-16 and ITR filings details of the last 2 years
Here is how you can apply for a LIC Housing Finance Loan Against Property Balance Transfer on Bajaj Markets:
Click on the ‘Apply Now’ option on this page
Enter your personal information in the application form
Select ‘LIC Housing Finance’ from the list of lenders
Check the offer you can get for this transfer
Choose the required loan amount and details of the property mortgaged
Assess loan details, including all the charges and the net disbursal amount
It is a facility wherein you can transfer your existing loan against property to LIC Housing Finance at more favourable terms.
This loan against property balance transfer facility is available across all cities of India.
Enjoy tax benefits as per Section 24 (B), if you apply for an additional top-up option along with the balance transfer facility. However, this is subject to the use of the amount for specified expenses that qualify for such benefits.
You can enjoy low interest rates starting from 9.45% p.a. with this balance transfer facility.