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Bajaj Home Finance Home Loan Balance Transfer

Home Loan Transfer to Bajaj Home Finance

Last Updated 10th May 2021

Interest Rate6.75%
Processing FeeNil
Lowest EMI per lakh₹ 760
Loan Tenure20 years
  • Bajaj Home Finance offers home loan balance transfer facility at low interest rates starting at 6.75% for a tenure of upto 20 years.
  • Transfer home loan to Bajaj Home Finance to reduce EMIs and save more on interest.
  • Avail 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 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.

Home Loan Rates 6.75%
Processing Fees Upto 0.35%
Prepayment Charges Nil for individuals for floating rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Process of Bajaj Home Finance Home Loan Transfer

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.

Eligibility for Bajaj Home Finance Home Loan Transfer

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

  • You must have an existing home loan with any bank except for Bajaj Home Finance.
  • You must have obtained a NOC (No-Objection Certificate) for transferring your home loan to Bajaj Home Finance.
  • You must be an Indian resident and fulfil the age criteria of Bajaj Home Finance. The minimum & maximum age to avail a Bajaj Home Finance home loan is 23 and 62 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.

Features Of Bajaj Home Finance Home Loan Transfer

Here are key features of Bajaj Home Finance Home Loan Transfer:

  • Lower Interest Rates: Bajaj Home Finance offers lower home loan rates starting at 6.75% 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 & fulfil the eligibility criteria of Bajaj Home Finance, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With Bajaj Home Finance home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount & the negotiation with the Bajaj Home Finance.

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
  • Aadhar 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 6.75%.

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 place your request through net banking/mobile banking. Bajaj Home Finance also allows the home loan transfer facility through phone banking by calling 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 such as for Bajaj Home Finance home loan balance transfer. Apart from that, you would also have to pay prepayment/ foreclosure charges as per your existing bank.

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, Bajaj Home Finance home loan balance transfer 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.


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Bajaj Home Finance Home Loan News - Jun 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
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