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Features and benefits of our home loan balance transfer & top-up loan
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All you need to know about our home loan balance transfer
Watch this video to know everything about our home loan balance transfer: Features and benefits, fees and charges, eligibility criteria, and more.
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Top-up of up to Rs. 1 crore* or higher
Using our home loan balance transfer facility, salaried professionals can avail of a top-up loan of up to Rs. 1 crore* or higher.
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Low interest rates
Benefit from our low interest rates starting at 8.50%* p.a. by refinancing your home loan. Pay EMIs as low as Rs. 819/lakh*.
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No restrictions on top-up usage
You can use the top-up amount for medical emergencies, home renovation, wedding expenses, higher education and similar urgent needs.
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Tenure of up to 25 years*
Manage your loan comfortably with our convenient repayment tenure of up to 25 years*.
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Foreclosure facility
Salaried professionals who opt for floating interest rates can make a part prepayment or foreclose the entire loan without a paying an additional fee.
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Minimal documentation
The balance transfer process on home loans can be time-consuming. We keep our document requirements to a minimum, ensuring a hassle-free process.
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Externally benchmarked interest rates
You can opt for an interest rate which is linked to an external benchmark, such as the Repo Rate. This may benefit you during favourable market conditions.
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Online account management
You can access your loan status and EMI schedule online, and download your statement of account, and other documents on our customer portal - My Account.
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*Terms and conditions apply
Home loan balance transfer & top-up loan EMI calculator
Enter a few details and check your home loan balance transfer & top-up loan EMIs.
Eligibility criteria and documents required
A salaried individual can apply for our home loan balance transfer & top-up loan facility 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: As a salaried applicant, you must be between 23 years to 70 years.
*The upper age limit is considered as the age at the time of loan maturity. - CIBIL Score: A CIBIL Score of 725 or higher is ideal to get your home loan balance transfer approved.
- Employment status: As a salaried applicant, you must be employed with a stable income source from a public or a private company with a minimum of 3 years of work experience.
Documents required:
- KYC documents (identity and address proof)
- Proof of income (latest salary slips)
- Property-related documents such as the title deed of the property
- Account statements for the last 6 months
Note: This is an indicative list that may change based on your actual loan application.
Check your home loan balance transfer & top-up loan eligibility
Find out how much loan amount you can get.
How to apply for a home loan balance transfer & top-up loan
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Did you know?
You can save on tax when you are repaying your home loan.
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Did you know?
You can transfer your home loan to us and avail of a top-up loan.
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Did you know?
You can lower your EMI amount by choosing a longer loan tenure.
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Did you know?
A higher CIBIL Score will help you get better home loan interest rate.
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 for balance transfer |
8.70%* to 15.00%* p.a. |
Rate of interest for top-up loan |
9.80%* to 18.00%* p.a. |
Processing fees |
Up to 7% of the loan amount |
Bounce charges |
For loan amounts up to Rs. 15 lakhs: Rs. 500 |
Penal interest |
Up to 24% per annum in addition to the applicable interest rate on the overdue amount. |
Secure fee |
Up to Rs. 10,000 + GST as applicable |
Interest and principal statement charges |
NIL |
Part-prepayment charges |
NIL |
Foreclosure charges |
NIL |
Hard Copy Loan Statement Charges |
Up to Rs. 500 per request + GST as applicable |
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Frequently asked questions
When you transfer an existing home loan from one lender to another, you are doing a home loan balance transfer. With Bajaj Finserv, this facility allows you to get low interest rates starting at 8.50%* p.a, a sizeable top-up loan of up to Rs. 1 crore* or higher and convenient terms.
A home loan top-up is an additional financing available when you switch your home loan to Bajaj Finserv. Transfer your current home loan to us and avail of a top-up loan of up to Rs. 1 crore* or higher.
The loan has no end-use limitations, which means you can use the amount for pressing needs. You can use it for needs like home renovation, interior décor, weddings, education, and even paying for emergency medical bills.
You can apply for a home loan balance transfer after paying off 6 monthly instalments to your current lender. When applying, you must not have outstanding dues on your present loan.
There is no limit on the amount with our home loan balance transfer facility. The loan amount sanctioned is based on your income profile, CIBIL Score, and the value of your home.
Typically, switching to a lender via a home loan balance transfer takes 5 to 10 days. This duration is also affected by how fast you receive the foreclosure letter and other documents from your current lender.
