Given below are details of the charges levied on Bajaj Finserv Home Loan Balance Transfer:
|Type of Charge||Details|
|Interest||8.50% - 14.00% p.a.|
|Processing fees||Up to 7.00% of the loan amount to be transferred|
|Charges for loan statement||Rs. 50 per instance|
|Overdue penal interest||2% p.m. on the overdue amount for the overdue period + taxes as applicable|
|Charges for EMI bounce||Up to 3,000|
The following are the features of Bajaj Finserv Home Loan Balance Transfer:
Best Home Loan Balance Transfer Interest Rates Starting @8.50%, Check EMI & Apply Now
The following are the benefits of Bajaj Finserv Home Loan Balance Transfer:
Following are the current Bajaj Finserv Home Loan Balance Transfer Interest Rates:
|Type of Loan||Home Loan Balance Transfer|
|Type of Interest Rate||Floating|
|Interest Rate for Salaried Applicants||8.50% - 14.00% p.a.|
|Interest Rate for Self-employed Applicants||9.10% - 15.00% p.a.|
|Top Banks||Interest Rates||Processing fee|
|Bajaj Finserv||8.50% - 14.00%||Up to 0.50% of the loan amount + GST|
|HDFC Ltd||8.50% - 9.15%||Up to 0.50% of the loan amount or Rs. 3,000 whichever is higher + GST|
|Kotak Mahindra Bank||8.70% - 8.95%||Up to 0.50% of the loan amount + GST|
|IDFC First Bank||8.75% - 8.85%||Up to 0.50% of the loan amount + GST|
|Home First Home||8.70% - 17.50%||2% of the loan amount|
|Bank of Baroda||8.40% - 10.60%||Up to 0.50% of the loan amount + GST|
|ICICI Bank||9.00% - 10.05%||0.50% - 2.00% of the loan amount or Rs. 3000/- whichever is higher + GST|
|Canara Bank||8.40% to 11.25%||0.50% of the loan amount (Min. Rs.1,500 and Max. Rs.10,000)|
The following are the eligibility criteria for Bajaj Finserv Home Loan Balance Transfer:
Details of documents required for Bajaj Finserv Home Loan Balance Transfer are as given below:
Once you have decided to shift your Home Loan account from the existing lender to a new lender you should follow the process mentioned below for the balance transfer:
If you have decided that your new lender will be Bajaj Finserv, then you can apply for the Home Loan Balance Transfer online by visiting their official website and following the simple steps that are detailed below:
For queries regarding Bajaj Finserv Home Loan Balance Transfer the customer care centres can be contacted vide the phone numbers provided below:
Apply for Home Loan Balance Transfer online instantly and get lower interest rate starting at 8.50% p.a. Get better terms and services. You can also avail instant top up loan facility during balance transfer.
Bajaj Finserv offers a 3 months holiday period which means that the EMI need not be paid immediately the month after the Home Loan is taken over. The payment of EMI starts three months after the Home Loan Balance Transfer is done. This facilitates you to plan your finance in those three months and improve the cash flow to commence payment of the EMI from the 4th month onwards. During these three months, there will be no penalty for non-payment of EMI.
HDFC Life Group Credit Protect Plus is a customised Insurance Cover provided by Bajaj Finserv for Home Loan Balance Transfer which offers protection to the family members of the borrower in case of any eventuality. The cover will be to the extent of the Home Loan balance taken over.
The Bajaj Finserv Home Loan Balance Transfer is available for a Home Loan for which 12 EMIs have been paid regularly. During this period of 12 months there should not have been any overdues or cheque bounce in respect of the EMI. If these conditions are complied with, Home Loan Balance Transfer will be available for a Home Loan availed 3 years ago.
Bajaj Finserv offers an online customer portal which you can access for any updates on your Home Loan account.
No, there are no foreclosure charges for the Home Loan after availing Home Loan Balance Transfer from Bajaj Finserv.
Yes, Bajaj Finserv charges processing charges up to 0.50% - 7% of the loan amount plus applicable taxes for a Home Loan Balance Transfer.
The main advantage of Home Loan Balance Transfer is the lower rate of interest offered by the new lender. This will reduce the EMI outgo and also the cost of the loan. If extended tenure is offered by the new lender, it will be an added advantage since it will further reduce the EMI outgo and will help reduce the financial stress.