✓ Loan Against Property Balance Transfer Facility ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 9.10% Check Offer

Transfer your existing loan against property to your preferred lender online on Bajaj Markets. A loan against property balance transfer lets you switch to lenders offering lower interest rates, starting from just 9.10% p.a., with tenures up to 25 years. 

Furthermore, you can benefit from zero foreclosure charges to become debt-free sooner. Along with better customer service options, and a simple documentation process, you can also fulfill your additional requirements with the help of top-up loans.

Compare Interest Rates of Loan Against Property Balance Transfer

Our Partners
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Minimum Interest Rate
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Maximum Loan Amount
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Maximum Loan Tenure
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Processing Fees
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Quick Approval
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Bajaj Housing Finance

9.10% p.a.

₹5 Cr

17 Years

Up to 1% of the loan amount

4.4
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ICICI Bank

9.25% p.a.

₹5 Cr

15 Years

0.50% of the loan amount + GST

3.9
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Sammaan Finserve

9.25% p.a.

₹15 Cr

20 Years

Up to 1.5% + GST

4.2
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L&T Finance

9.65% p.a.

₹5 Crores

20 Years

Up to 1% of the loan amount + GST

4.2
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LIC Housing Finance

9.45% p.a.

₹15 Cr

15 Years

1% of the loan amount

3.8
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PNB Housing Finance

9.25% p.a.

₹15 Cr

20 Years

1% of the loan amount

3.9
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Truhome Finance

12.50% p.a.

₹1 Cr

25 Years

Up to 2.5% of the loan amount + GST

4.3
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Shubham Housing Finance

13.90% p.a.

₹0.20 Cr

15 Years

Up to ₹27,000 + 3% of the loan amount + GST (Loan amount above ₹12 Lakhs)

3.9
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*Disclaimer: The rates are subject to change at the lender’s discretion.

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Fees and Charges Associated with Loan Against Property Balance Transfer

Here are some essential charges you may have to pay when applying for a balance transfer:

Type of Charges

Details

Processing Fee

0.50% to 3%

Foreclosure Charges

Nil to 4%

Prepayment Charges

2% to 5%

Administrative Charges

Up to 0.25%

CERSAI Charges

₹50 to ₹100

*Disclaimer: These charges are subject to change at the lender’s discretion. 

Features and Benefits of Loan Against Property Balance Transfer

Top-up Loan

Get additional credit on your loan against property balance transfer on Bajaj Markets.

Affordable Interest Rates

Benefit from competitive interest rates, starting from 9.10% p.a.

Flexible Repayment Options

Repay your loan at your convenience. Select a repayment plan that suits your finances with a balance transfer.

Long Repayment Tenures

Apply for a loan against property balance transfer and get an extended tenure of up to 25 years

Minimal Documentation

Apply with ease through a simple process requiring only basic documents

Quick Application Process

Enjoy a fast and hassle-free application journey on Bajaj Markets

No Hidden Charges

Get complete transparency with clear terms and no hidden costs

Secure and Trusted Financial Marketplace

Apply through a reliable platform that ensures your data and transactions remain protected

Eligibility Criteria for Loan Against Property Balance Transfer

Here are the criteria you are often required to fulfil to be eligible for a balance transfer:

  • You should fall under the age bracket of 21 to 70 years

  • You must be an employee in an MNC, a private company, or the public sector, or be self-employed

  • You should be a resident of India residing or owning a property in a city recognised by the lender

  • Your CIBIL score should be 725 or more

  • You must have paid at least 12 EMIs of the loan you want to transfer

  • The minimum work experience for salaried individual should be at least 1 year

  • Self-employed applicants must have a business operational for at least 2 years to qualify

Documents Required for Loan Against Property Balance Transfer

Here is a list of some common documents usually required for a loan against property balance transfer:

  • Latest Salary Slips

  • Bank account statements of the last 3 months

  • PAN Card and Aadhaar Card

  • Address Proof

  • Copy of the documents of the property to be mortgaged

  • IT Returns

  • For Self-employed - Certificate and proof of business, along with ITR filings of the last 3 financial years

  • Property documents like sale deeds

Types of Properties That Can Be Transferred in a Mortgage Loan Takeover

Most banks and financial institutions allow balance transfers for various types of properties, including:

  • Residential properties (self-occupied or rented)

  • Commercial properties used for business activities

  • Industrial properties, in some cases, depending on lender policies

The mortgage loan take over must involve a property that is free from legal disputes and has clear ownership documents.

Process to Transfer Loan Against Property from One Bank to Another

The balance transfer process typically involves the following steps:

  1. Submit a transfer request with your current lender

  2. Obtain a foreclosure letter and loan statement

  3. Apply with the new lender and submit required documents

  4. Undergo property valuation and credit assessment

  5. On approval, the new lender disburses the balance to close the existing loan

  6. The loan is now serviced by the new lender under revised terms

When to Consider Loan Against Property Balance Transfer

A LAP balance transfer is best timed early in the loan tenure for maximum savings. You may consider a loan against property balance transfer if:

  • The current interest rate is significantly higher than market rates

  • You want to reduce EMI or extend the repayment tenure

  • You need a top-up loan for additional funding

  • The new lender offers better service or lower associated charges

Things to Remember Before Applying for Loan Against Property Balance Transfer

Keep the following in mind before initiating a balance transfer:

  • Check for foreclosure charges with your current lender

  • Compare total cost of transfer, including processing fees and documentation charges

  • Ensure your repayment track record is clean

  • Reassess your property’s eligibility and valuation with the new lender

  • Read the terms and conditions of the new loan agreement carefully

How to Apply for a Loan Against Property Balance Transfer on Bajaj Markets

Follow these steps to apply for a loan against property balance transfer online:

  • Click on the ‘Check Offer’ button on this page

  • Select your type of profession, either Salaried Employee, or a Business Owner

  • Enter your mobile number

  • Accept the check boxes related to the terms and conditions

  • Click on the ‘PROCEED’ tab

How to Apply for home loan

Why Choose Bajaj Markets for a Loan Against Property Balance Transfer?

  • Quick Processing

The online application process allows your loan application to be verified faster

  • Simple Documentation

Online documentation makes the balance transfer simpler and convenient

  • Zero Hidden Charges

With the promise of complete transparency, you do not have to pay any hidden charges

Frequently Asked Questions

Do I need to pay any additional charges for a loan against property balance transfer?

The fees and charges for this facility vary across lenders. So, before opting for the facility, it is ideal to check with the specific lender.

Who is eligible to get a balance transfer loan?

Anyone who has completed at least 12 EMIs of their existing loan can opt for this facility.

Are there any tax benefits on a loan against the property balance transfer?

You can enjoy tax benefits as per Section 24B if you apply for an additional top-up option along with the balance transfer facility.

What is the applicable age bracket for self-employed and salaried professionals to apply for a balance transfer of loans?

The requirement to qualify for a loan against property is as follows:

  • Salaried Applicants : 23 to 70 years

  • Self-employed Applicants : 21 to 58 years

Please note that this value may differ from one lender to another.

What is the maximum repayment tenure for LAP balance transfer?

The repayment tenure for a loan against property balance transfer can go up to 25 years, depending on the lender’s terms.

Can I get a top-up loan at the time of the balance transfer?

Yes, many lenders offer a top-up loan along with a balance transfer, based on your repayment history and loan eligibility.

What is the maximum amount that can be transferred?

You can transfer a loan amount of up to ₹15 crore, subject to lender approval and property valuation.

Do I require a guarantor for a mortgage loan takeover?

This depends on the lender. Some may require a guarantor, especially for high-value loans or complex cases.

What is the penalty for LAP balance transfer?

Prepayment or foreclosure charges, if any, vary by lender and loan type. Check with your current lender before initiating the transfer.

Is balance transfer a good idea for a loan against property?

Yes, if the new lender offers lower interest rates, better terms, or top-up facilities, a balance transfer can help reduce EMIs and total interest cost.

What is the lock-in period for a loan against property takeover process?

The lock-in period depends on the lender. Some may require a minimum number of EMIs before allowing a transfer.

Does transferring an existing loan to another bank affect my CIBIL score?

A balance transfer does not negatively affect your CIBIL score if done properly. However, lenders may perform a hard inquiry during the process.

How many times can one apply for a loan against property refinance?

There is no fixed limit, but each application is assessed based on current eligibility, repayment history, and lender policies.

Which bank or NBFC is good for loan against property balance transfer?

This depends on your profile, property type, and requirements. It’s best to compare multiple lenders for the best offer.

Can I prepay my loan after balance transfer?

Yes, most lenders allow partial or full prepayment. Charges, if any, depend on whether the loan is fixed or floating rate.

Can I transfer my loan against property to another lender if my property is located in another city?

Yes, you can transfer your loan even if your property is in a different city, provided the new lender services that location.

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