DIAGNOSTICS
Diagnostic scans that use the latest technology can cost anywhere from thousands to lakhs or even more. A single MRI scan can cost up to five figures. For a full diagnosis, you might have to do a lot of tests and scans, which could cost a lot of money.
HOSPITALISATION EXPENSES
Most health insurance plans cover the cost of hospital stays, but there are a few situations where the insurance won't help. Costs may keep going up because of room upgrades, special meals, visits to a specialist doctor, and fees for a diet consultant.
PHYSIOTHERAPY
Most people need care and treatment after surgery. For each session, the therapist has to be there and use special equipment. If you have more than one of these, it may cost you more.
Features and benefits of our loan against property balance transfer
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Low interest rates
Transfer your current loan against property to us and get an attractive interest rate starting from 9% to 12% (Floating rate of Interest) p.a.
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Balance transfer of up to Rs. 10.50 crore*
By transferring your existing loan against property to us, you can be eligible to get a balance transfer of up to Rs. 10.50 crore*.
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Speedy approval
Get a quick approval on your loan application soon after your document verification.
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Tenure of up to 15 years*
Manage your loan easily with convenient repayment tenure of up to 15 years*.
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Multiple end-use options
Use the loan amount to meet your financial requirements like wedding expenses, medical emergencies, home renovation costs, and more.
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No foreclosure charges*
If all borrowers and co-borrowers are individuals, loan availed on floating interest rates, and loan taken for purposes other than business use, then there will be no foreclosure/ part-prepayment charges.
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Externally benchmarked interest rates
You can opt for an interest rate linked to the Bajaj Floating Reference Rate (BFRR). This offers a transparent interest rate process and allows you to benefit from favourable market conditions, as the BFRR is periodically reviewed and approved by internal committees. Any existing loan agreements held by Bajaj Finance customers linked to external benchmarks will remain unaffected.
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*Terms and conditions apply.
Loan against property EMI calculator
Enter a few details and check your loan against property EMIs.
Eligibility criteria and documents required
Anyone can apply for our loan against property balance transfer as long as they meet the criteria mentioned below.
Eligibility criteria
- Nationality: You must be an Indian citizen residing in India with property in a city we operate in.
- Age: Minimum age: 25 years* (18 years for non-financial property owners)
Maximum age: 85 years* (including non-financial property owners)
*Age of the individual applicant/ co-applicant at the time of loan maturity.
*Higher age of co-applicant may be considered up to 95 years basis 2nd generation (legal heir) meeting age norms and to be taken as co-applicant on loan structure.
- CIBIL Score: A CIBIL Score of 700 or higher is ideal to get an approved loan against property balance transfer.
- Occupation: Salaried, self-employed professionals like doctors, and self-employed non-professionals are eligible to apply.
Documents required:
- Proof of identity/ residence - Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
- Proof of income
- Property-related documents
- Proof of business (for self-employed applicants), and
- Account statements for the last 6 months
Note: This is an indicative list that may change based on your actual loan application.
Check your loan against property balance transfer eligibility
Find out how much loan amount you can get.
Applicable fees and charges
We advise you to read about our fees and charges thoroughly before applying.
Type of fee |
Applicable charges |
Rate of interest (floating rate of interest) |
9% to 12% per annum |
Processing fee |
Up to 3.54% of the loan amount (inclusive of applicable taxes) |
Documentation charges |
Up to Rs. 2,360/- (inclusive of applicable taxes) |
Flexi fee |
Term Loan – Not applicable Flexi variant (as applicable below) - (Inclusive of applicable taxes) Flexi term loan (Flexi dropline) Flexi Hybrid loan – The Flexi charges above will be deducted upfront from the loan amount Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges. |
Prepayment charges |
Full prepayment
Part-prepayment
Note: If all borrowers and co-borrowers are individuals, loan availed on floating interest rates, and loan taken for purposes other than business use, then there will be no foreclosure/ part payment charges. |
Annual maintenance charges |
Term Loan: Not applicable |
Bounce charges |
Rs. 1,500/. “Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason |
Penal charge |
Penal Charge is applicable in the following scenarios: a. Penal Charge: b. Covenant Perfection Charge: |
Stamp duty (as per respective state) |
Payable as per state laws |
Broken period interest/ pre-EMI interest |
Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios: In this scenario, broken period interest is recovered by the following methods:
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
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Mortgage origination fees |
Up to Rs. 6,000/- per property (inclusive of applicable taxes) charged upfront. Note - In case of re-valuation of the property then MOF will be levied again and shall be deducted from loan disbursement amount. |
Conversion fee (floating to fixed)** |
For Term Loan: Up to 1.18% (inclusive of applicable taxes) of principal outstanding + undisbursed amount (if any) For Flexi Term Loan and Hybrid Flexi Loan: Up to 1.18% (inclusive of applicable taxes) on flexi limit + undisbursed amount (if any) Note: a) The company would charge additional interest rate risk premium of 200 bps over the applicable rate of interest on the borrower's loan account as on that date. b) Three conversions are permissible throughout the entire tenure |
Conversion fee (fixed to floating)** |
For Term Loan: Up to 1.18% (inclusive of applicable taxes) of principal outstanding + undisbursed amount (if any) For Flexi Term Loan and Hybrid Flexi Loan: Up to 1.18% (inclusive of applicable taxes) on flexi limit + undisbursed amount (if any) Note: Three conversions are permissible throughout the entire tenure. |
Switch fee for ROI change |
Up to 2.36% (inclusive of applicable taxes) of principal outstanding |
Commitment fee |
Maximum up to total PF amount. |
| Legal Charges | Recovery of charges |
| Repossession & Incidental charges | Recovery of charges |
**The option of switching from floating to fixed rate of interest and vice versa would be applicable only to Borrowers whose loan qualify as personal loan as per RBI circular on Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans- RBI/2023-24/55-DOR.MCS.REC.32/01.01.003/2023-24.
Personal loans refers to loans given to individuals and consist of (a) consumer credit, (b) education loan, (c) loans given for creation/ enhancement of immovable assets (e.g., housing, etc.), and (d) loans given for investment in financial assets (shares, debentures, etc.).
Further, Consumer credit refers to the loans given to individuals, which consists of (a) loans for consumer durables, (b) credit card receivables, (c) auto loans (other than loans for commercial use), (d) personal loans secured by gold, gold jewellery, immovable property, fixed deposits (including FCNR(B)), shares and bonds, etc., (other than for business / commercial purposes), (e) personal loans to professionals (excluding loans for business purposes), and (f) loans given for other consumptions purposes (e.g., social ceremonies, etc.). However, it excludes (a) education loans, (b) loans given for creation/ enhancement of immovable assets (e.g., housing, etc.), (c) loans given for investment in financial assets (shares, debentures, etc.), and (d) consumption loans given to farmers under KCC. For risk weighting purposes under the Capital Adequacy Framework, the extant regulatory guidelines will be applicable. (as defined in XBRL Returns – Harmonization of Banking Statistics-RBI/2017-18/117-DBR.No.BP.BC.99/08.13.100/2017-18)
Frequently asked questions
Anyone with an existing loan against property can apply for a balance transfer with us. Choose us for low interest rates, top-up loan up to Rs. 10.50 crore*, and convenient repayment tenure.
Your age, employment status, and city of residence are some of the key standards that you should meet for loan approval.
If you are an Indian citizen, residing in India, between the age group of 25 years to 85 years, or a 25 years* to 85 years* old self-employed Indian, then you are eligible.
*Terms and conditions apply
You can repay the total sum borrowed over a convenient repayment tenure of up to 15 years*.
You are advised to opt for a balance transfer for loan against property when your current loan against property terms are no longer feasible to you. By transferring your loan against property balance to a us, you can be eligible for more affordable interest rates, top-up loan, and also enjoy privileges to revisit your repayment tenure, and more.
When applying for a loan against property balance transfer, you will need a few of the following documents along with the term documents from previous lender:
- Proof of identity/ residence
- Proof of income
- Property-related documents
- Proof of business (for self-employed applicants), and
- Account statements for the last 6 months
These documents will help us verify your profile, the property you have mortgaged, and the loan terms.
