Shubham Housing Finance is a trusted organisation offering housing credit to individuals. The Shubham Housing Finance loan against property (LAP) balance transfer is a financial offering that enables you to transfer your existing LAP from other lenders.
With this option, you can enjoy the benefits of lower interest rates and reduced EMIs. Here’s a quick overview of the details of the Shubham Housing Finance loan against property balance transfer to understand its benefits, features, and other vital aspects.
See the table below containing Shubham Housing Finance loan against property balance transfer interest rates and charges:
Interest Rate |
13.90% p.a.onwards |
Processing Fee |
|
Foreclosure Charges |
Nil |
Disclaimer: Interest rates and other charges are subject to change per the financial institution’s policies.
Using the Shubham Housing Finance LAP balance transfer EMI calculator online is your best bet to calculate the interest payable. It is quick and intuitive, and it offers accurate results.
Here is the table containing the interest rate of Shubham Housing Finance along with other top lending partners of Bajaj Markets.
Name of the Partner |
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: Interest rates are subject to change per financial institutions’ policies.
Here are the key features and benefits of the balance transfer facility:
Following are the Shubham Housing Finance loan against property balance transfer eligibility criteria you must meet when opting for a loan balance transfer.
You must be a salaried or self-employed person
You must be over 21 years when applying for a loan and under 70 years when the loan matures
You must have a bank account
Any owners of the financed property and individuals whose income has been evaluated for the loan must be co-applicants
You must reside in one of the cities where Shubham Housing Development Finance has an office.
You may also use the loan against the property balance transfer eligibility calculator to check your eligibility before you opt for this facility.
Here is the list of Shubham Housing Finance LAP balance transfer documents required when applying for a loan transfer.
Salaried Person |
Self-Employed Person |
Completed application form |
Completed application form |
Identity proof (Aadhaar card, Voter ID, Driving licence, Passport) |
Identity proof (Aadhaar card, Voter ID, Driving licence, Passport) |
PAN card |
PAN card |
Address proof (Aadhaar card, Passport, Voter ID, Utility bills, Ration card) |
Address proof (Aadhaar card, Passport, Voter ID, Utility bills, Ration card) |
Bank passbook |
Bank passbook |
Bank statement |
Bank statement |
Recent salary slip (if available) |
Income proof |
ITR (if available) |
ITR (if available) |
Copies of property papers |
Copies of property papers |
Passport-size photographs |
Passport-size photographs |
Here are the steps to follow:
Step 1: Visit the Website and Check Your Eligibility
Browse the Bajaj Markets official website or download the app and check your LAP eligibility by providing your personal details.
Step 2: Choose Your Lending Partner
Select Shubham Housing Finance Ltd as your lending partner.
Step 3: Examine Your Borrowing Capability
Calculate the maximum loan amount available from Shubham Housing Finance Ltd through Bajaj Markets.
Step 4: Enter the Required Loan Amount and Provide Property Details
Specify the loan amount you need and provide the property information.
Step 5: Discover the Other Details
Determine the applicable interest rate of your loan, as well as other charges and the net amount to be disbursed.
Step 6: Receive a Call from a Loan Expert
A loan specialist will contact you to assist you with the rest of the application procedure.
While any salaried or self-employed person can apply, ensure you meet the eligibility criteria set by Shubham Housing Finance when planning to apply for a LAP balance transfer.
You may contact the institution and enquire about the same.
When opting for a balance transfer you must submit your latest salary slips and bank statements of your salary account as your income proof.
The maximum repayment tenure you can choose is up to 180 months.
Yes. The Shubham Housing Finance LAP balance transfer EMI calculator helps compute accurate EMIs, allowing you to make an informed decision. Hence, you can apply online after assessing your monthly instalments.
The applicable interest rate at the time of balance transfer is considered throughout the loan tenure if you opt for a fixed interest option. However, in the case of a floating interest rate, your current interest rate is bound to change periodically depending on the financial market conditions.