20,00,000 people visited this section in last 30 daysApply Online

Get Cashback of Upto ₹ 1,000* on Home Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Bajaj Home Finance Home Loan Balance Transfer

Home Loan Transfer to Bajaj Home Finance: Details

Last Updated 27th Oct 2021

Interest Rate6.80%
Processing FeeNil
Lowest EMI per lakh₹ 763
Loan Tenure20 years
  • Bajaj Home Finance offers a home loan balance transfer facility at low interest rates starting at 6.80% for a tenure of upto 20 years.
  • You can transfer your home loan to Bajaj Home Finance to reduce EMIs and save more on interest.
  • Avail home loan top up from Bajaj Home Finance at the time of loan balance transfer to fulfil additional fund requirements.
Calculate Savings, Check Best Offers Get upto ₹ 1,000* Cashback

Bajaj Home Finance Home Loan Transfer

Bajaj Home Finance, the largest HFC in India, offers the facility to transfer your home loans from the existing scheduled commercial, private and foreign banks and housing finance companies to Bajaj Home Finance at the lowest interest rates. To transfer your housing loan to Bajaj Home Finance, you must have regularly paid the EMIs for a minimum tenure of 6-12 months and fulfil other eligibility criteria of Bajaj Home Finance.

Bajaj Home Finance Home Loan Balance Transfer Charges

Before you decide to transfer your home loan to Bajaj Home Finance, compare and calculate all the costs of loan transfer. The table below mentions Bajaj Home Finance home loan transfer interest rate and other home loan transfer charges of Bajaj Home Finance.

Bajaj Home Finance Home Loan Transfer Rates 6.80%
Processing Fees Upto 0.35%
Prepayment Charges Nil for individuals in case of floating home loan rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Features of Bajaj Home Finance Home Loan Transfer

Here are key features of the balance transfer scheme:

  • Lower Interest Rates: Bajaj Home Finance offers lower home loan rates starting at 6.80% along with Nil processing on home loans. Thus, you can save on your home loan by transferring your loan to Bajaj Home Finance.
  • Top-up Loans: If you have a good CIBIL score and fulfil the eligibility criteria of Bajaj Home Finance, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With this Bajaj Home Finance home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount.

Eligibility for Bajaj Home Finance Home Loan Transfer

To transfer your home loan to Bajaj Home Finance, you must fulfil the following eligibility criteria:

  • First, you must have an existing home loan with any bank except for Bajaj Home Finance.
  • Second, you must have obtained a NOC (No-Objection Certificate) for transferring your home loan to Bajaj Home Finance.
  • You must be an Indian resident within the age criteria of Bajaj Home Finance. The minimum & maximum age to avail a Bajaj Home Finance home loan takeover is 23 and 62 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.
    • Use Bajaj Home Finance home loan balance transfer calculator to estimate the best balance transfer offers and costs associated with it.

Process to Transfer Your Existing Home Loan to Bajaj Home Finance

The home loan balance transfer process to Bajaj Home Finance is smooth and quick. To transfer your existing home loan to Bajaj Home Finance, you need to follow the steps as mentioned below:

  • Submit the request to transfer your home loan to your existing bank by addressing a loan transfer letter. To place a request, you would also need to ask about the transfer of title deeds and other securities to Bajaj Home Finance upon receipt of the loan amount.
  • On the review of your application, your bank will issue a No Objection Certificate (NOC).
  • Submit the NOC to Bajaj Home Finance and request them to transfer your loan and pay off your outstanding amount to the existing bank.
  • Bajaj Home Finance will then validate the NOC, sanction your loan and pay off your dues to the existing bank.
  • Your existing bank will issue a confirmation letter stating the equitable mortgage over the property.
  • Your existing bank will close your loan account and cancel all cheques or standing instructions related to your loan.
  • Finally, your home loan transfer to Bajaj Home Finance will be completed.

Document Required for Bajaj Home Finance Home Loan Transfer

To avail of home loan balance transfer from Bajaj Home Finance, you need to submit the following documents to Bajaj Home Finance.

Documents Required Accepted Valid Documents
Application Form with Photo Application Form of Primary Borrower and Co-borrower(s)
Identity Proof
  • Valid Passport
  • Aadhaar Card
  • Driving License
  • Photo Identity card issued by Govt. body
  • Letter from a recognized public authority
Residential Proof
  • Valid Passport
  • Voter Card
  • Latest Utility bill
  • Rent agreement on stamp Paper
  • Life Insurance Policy
  • Residence address Certificate by an employer on company letterhead
Age Proof
  • Primary Borrower
  • Co-borrower(s)
Income Proof
  • Last 3 years’ Form 16
  • Last 6 months salary slip
  • Last 6 months’ bank account statement showing salary credit
Other Documents
  • Loan statement
  • List of property documents (LOD) in possession of the existing lender.
  • Last 12 months' statement of the bank account from which loan EMI is paid

FAQs

Is it good to transfer a home loan to Bajaj Home Finance?

Yes, transferring your home loan to Bajaj Home Finance is a good idea for home loan borrowers as Bajaj Home Finance provides lower home loan rates starting at 6.80%, and minimal processing fee is Nil.

How can I transfer my Bajaj Home Finance home loan from one branch to another?

To transfer your Bajaj Home Finance home loan from one branch to another, you can request through net banking/mobile banking. Bajaj Home Finance also allows the home loan transfer facility through phone banking by calling the home loan customer care.

Are there any charges while applying for Bajaj Home Finance home loan balance transfer?

Yes, Bajaj Home Finance charges home loan transfer fees. Apart from that, you would also have to pay prepayment/ foreclosure charges as per your existing bank. As the amount will be transferred to a new bank, the processing fee will also be levied accordingly.

What are the benefits of taking a Bajaj Home Finance home loan balance transfer?

If you apply for a home loan transfer to Bajaj Home Finance, you can clear off your existing home loan at lower rates and save more on interest. Besides that, it can also help you avail top-up on your existing home loan.

How can I check the status of my Bajaj Home Finance home loan balance transfer?

To know your Bajaj Home Finance home loan status, you can call Bajaj Home Finance home loan customer care number or visit Bajaj Home Finance official website to check the status.


Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 6.50%. Cashback of up to ₹ 1,000

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000.

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.00% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 6.90%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Bajaj Home Finance Home Loan News - Nov 2021
  • 2021-10-27 : Bajaj Finance Posted a Net Profit of 53.5%
    Leading non-banking financial company has reported a net profit of 53.5% to Rs 1,481 crore in the second quarter ending September 30, 2021.
  • 2021-05-10 : Bajaj Home Finance cut its Top Up loan rates
    Bajaj Home Finance reduced its top-up loan rates to 8%. The revised rates will be effective from 10 May 2021.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...