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Your Loan Against Property Balance Transfer with us

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Loan Against Property Balance Transfer

EMIs starting from ₹750/lakh | Flexible tenure options
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Trusted by 3 lakh+ customers

Loan Against Property Balance Transfer
EMIs starting from ₹750/lakh | Flexible tenure options
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Flexible tenure options

Choose from multiple repayment tenure options of up to 15 years.

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Loan of up to ₹10.50 crore with minimal documentation

Manage your urgent financial needs with a sizeable loan amount, sanctioned as per your mortgaged property.

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Disbursal in 72 hours*

Get money in your account within just 72 hours of approval. Approval subject to receipt of applicable documents and on the basis of our risk policy. *Terms and conditions apply.

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Low interest rates

Get our loan against property at affordable interest rates of 9.5% - 14% (Floating rate of interest ) p.a.

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Multiple end-use options

With no restriction on use, you can manage expenses such as medical emergencies, higher education, business expansion, or wedding expenses with our loan against property.

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Flexible tenure options

Choose from multiple repayment tenure options of up to 15 years.

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Loan of up to ₹10.50 crore with minimal documentation

Manage your urgent financial needs with a sizeable loan amount, sanctioned as per your mortgaged property.

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Disbursal in 72 hours*

Get money in your account within just 72 hours of approval. Approval subject to receipt of applicable documents and on the basis of our risk policy. *Terms and conditions apply.

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Low interest rates

Get our loan against property at affordable interest rates of 9.5% - 14% (Floating rate of interest ) p.a.

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Multiple end-use options

With no restriction on use, you can manage expenses such as medical emergencies, higher education, business expansion, or wedding expenses with our loan against property.

LAP EMI Calculator

Loan Against Property EMI Calculator

Calculate your EMIs and plan your loan better

Features and benefits of our loan against property balance transfer

  • 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.

  • Balance transfer of up to Rs. 10.50 crore*

    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*.

  • Speedy approval

    Get a quick approval on your loan application soon after your document verification.

  • Tenure of up to 15 years*

    15 years*

    Manage your loan easily with convenient repayment tenure of up to 15 years**.

  • Multiple end-use options

    Use the loan amount to meet your financial requirements like wedding expenses, medical emergencies, home renovation costs, and more.

  • 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.

  • Externally benchmarked interest rates

    You can opt for an interest rate which is linked to an external benchmark, such as the Repo Rate, and benefit from a transparent interest rate process and favourable market conditions.

*Terms and conditions apply. 

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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.

How to apply for loan against property balance transfer

Step-by-step guide to apply for our loan against property balance transfer

  1. Click on the 'APPLY' button on this page.
  2. Enter your pin code and click Proceed.
  3. Provide your basic details like your full name and mobile number.
  4. Now select the type of loan that you wish to apply for, your net monthly income, your area pin code, and the required loan amount.
  5. Generate and submit your OTP to verify your phone number.
  6. Enter further details like your property location, your current EMI amount/ monthly obligation, and your PAN.
  7. Click on the ‘SUBMIT’ button.

That is it! Your balance transfer request is submitted. Our representative will connect with you and guide you through the next steps.

Applicable fees and charges on our loan against property balance transfer

Types of fees 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 facility charge Term Loan – Not applicable

Flexi variant (as applicable below) - (Inclusive of applicable taxes)

Flexi term loan (Flexi dropline)
Up to Rs. 999 for loan amount less than Rs. 50,00,000.
Up to Rs. 1,999 for loan amount between Rs. 50,00,000 and Rs. 74,99,999.
Up to Rs. 1,999 for loan amount between Rs. 75,00,000 and Rs. 99,99,999
Up to Rs. 2,999 for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999
Up to Rs. 3,999 for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999
Up to Rs. 4,999 for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999
Up to Rs. 5,999 for loan amount Rs. 7,50,00,000 and above

Flexi Hybrid loan –
Up to Rs. 5,999 for loan amount less than Rs. 50,00,000.
Up to Rs. 11,999 for loan amount between Rs. 50,00,000 and Rs. 74,99,999.
Up to Rs. 14,999 for loan amount between Rs. 75,00,000 and Rs. 99,99,999
Up to Rs. 19,999 for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999
Up to Rs. 21,999 for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999
Up to Rs. 25,999 for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999
Up to Rs. 29,999 for loan amount Rs. 7,50,00,000 and above

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
• Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment

• Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

• Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Part-prepayment
• Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment.
• Not applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi

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-prepayment charges.
Annual maintenance charges Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Not applicable

Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during Initial loan tenure. Not applicable for subsequent loan tenure.
Bounce charges

Rs. 1,500/- per bounce.


“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:
Any payment default shall attract penal charge of Rs. 190/- for period of such delay from the respective due date and continue to apply until the date of receipt of amounts under the said default.

b. Covenant perfection charge:
i) Rs. 800/- for non-submission of critical documents after 90 days of disbursement. Levy from the date when due on non-compliance of any one or all heads in the category.
ii) Rs. 500/- for non-submission of non-critical documents after 120 days of disbursement. Levy from the date when due.
Stamp duty (as per respective state) Payable as per state laws
Instalment default charge Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered.
Broken period interest/ pre-EMI interest

Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows:

Scenario 1: If Loan is disbursed on 1st or post 10th of the month:

For Term Loan: BPI amount will be capitalised, i.e. added to Principal amount on Due date / Deducted from disbursement

For Flexi Loans: BPI amount will be capitalised, i.e. added to Principal amount on Due date / Added to first instalment

For Quick disbursal process and disbursement mode is cheque: BPI amount will be capitalised, i.e. added to Principal amount on Due date / Added to first instalment

Scenario 2: If Loan is disbursed between 3rd and 10th of the month:

First instalment will consist of interest for actual number of days.
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

Still haven’t found what you are looking for? Click on any of the links at the top of this page.

**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)

Our loan variants

Loan variant

What is it

Flexibility

Withdrawals

EMIs

Part-prepayment Charges

Flexi Charges

Flexi Hybrid Loan

Allows flexibility in borrowing and repaying within a specified loan limit. You can withdraw and repay multiple times within the approved limit. Interest-only EMI is charged during the Initial Tenure, only on the amount utilised.

Easily withdraw funds from the sanctioned limit and prepay effortlessly with our most flexible loan variant.


Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Interest-only EMIs for the initial part of the loan tenure. EMI applicable only on the withdrawn amount.

No part-prepayment charges.

Nominal* Flexi charges applicable.

Flexi Term Loan

Offers flexibility in borrowing and repaying within a specified loan limit. Your EMIs cover both the principal and interest for the withdrawn sum over the entire duration.

Easily withdraw funds from the sanctioned limit and prepay effortlessly. More flexible than our regular term loan.


Get unrestricted access to funds with multiple withdrawals from the approved loan limit.

Fixed EMIs only on the withdrawn amount.

No part-prepayment charges.

Nominal*Flexi charges applicable.

Term Loan

The loan type offers two repayment options: fixed monthly payments for the full term or up to 36 months of interest-only payments, followed by interest and principal payments.

Fixed loan structure and repayment schedule. Less flexible than our flexi term or flexi hybrid loans.

Single disbursement of the loan amount.

Fixed EMIs on the disbursed amount.

Nominal*part-prepayment charges applicable.

No Flexi charges.


*Please refer to the Interest Rates, Fees and Charges section for more details on Flexi charges and annual maintenance charges.

Frequently asked questions

Who can apply for a loan against property balance transfer?

Anyone with an existing loan against property can apply for a balance transfer with us. Choose us for low interest rates, balance transfer of 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.

Who is eligible for a loan against property balance transfer?

If you are a salaried or self-employed Indian citizen, residing in India, between the age group of 25 years to 85 years, then you are eligible.

*Terms and conditions apply

What is the maximum repayment tenure for a loan against property balance transfer?

You can repay the total sum borrowed over a convenient repayment tenure of up to 15 years*.

Why should I opt for a loan against property balance transfer?

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.

What are the usual documents required for a loan against property balance transfer?

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.

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.