A loan for all your goals
- Higher Education
- Business Expansion
- Medical Expenses
Features and benefits of our loan against property balance transfer
All you need to know about our loan against property balance transfer
Watch this video to know everything about our loan against property balance transfer: Features and benefits, fees and charges, eligibility criteria, and more.
Top-up loan of up to Rs. 10.50 Crore*
Be eligible for a top-up loan of up to Rs. 10.50 Crore* on transferring your existing loan to us.
Low interest rates
Self-employed individuals can access competitive interest rates ranging from 9% to 14% (Floating rate of Interest).
Multiple end-use options
Use the loan to manage your big spends on weddings, higher education, medical emergencies, home renovation, and more.
Tenure of up to 15 years*
Manage your loan conveniently with a long repayment tenure of up to 15 years*.
Get a quick approval on your loan application soon after your document verification.
No foreclosure fee*
If you have a floating rate of interest, you can make a part prepayment or foreclosure of the loan without an additional charge.(Video) Bajaj Finserv Personal Loan लेना ज़िंदगी की सबसे बड़ी गलती ? Bajaj Finance Personal Loan Review
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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Loan against property balance transfer EMI calculator
Enter a few details and check your loan against property balance transfer EMIs.
Eligibility criteria and documents required
Any self-employed individual can apply for our loan against property balance transfer as long as they meet the criteria mentioned below.
- Nationality: You must be an Indian citizen residing in India with property in a city we operate in.
- Age:The minimum age of the applicant must be 25 years** (18 years for non-financial property owners)
* Age at the loan application of the individual applicant/ Co-applicant.
The maximum age of the applicant must be 70 years*. (80 years for non-financial property owners)
* Age at the loan maturity of the individual applicant/ Co-applicant.
- CIBIL Score: A CIBIL Score of 700 or higher is ideal to get an approved loan against property balance transfer.
- Employment status: As a self-employed applicant, you should have a business continuity of over 5 years in the current business.
- Proof of identity/ residence
- Proof of income (P&L statement)
- Proof of business existence, 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.
How to apply for a loan against property balance transfer
Step-by-step guide to apply for our loan against property balance transfer
- Click on the 'APPLY' button on this page.
- Enter your full name, mobile number, and pin code, and choose ‘Self-employed’ as the employment type.
- Now select the type of loan you wish to apply for.
- Generate and submit your OTP to verify your phone number.
- Upon OTP verification, enter additional details like your monthly income, required loan amount, and if you have identified the property.
- In the next steps, enter your PAN number and any other details as requested depending on your selected occupation type.
- 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
We advise you to read about our fees and charges thoroughly before applying.
Type of fee
|Rate of interest (Self-employed)||9% to 14% (Floating rate of Interest)|
Up to 3.54% of the loan amount (inclusive of applicable taxes)
Document Processing Charges
Up to Rs. 2,360/- (inclusive of applicable taxes)
|Flexi Fee||Term Loan - Not applicable|
Flexi Variant - Not applicable
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.
Rs. 1500 per bounce
Any delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment outstanding, from the date of default until the receipt of monthly instalment.
|Stamp Duty||Payable as per state laws and deducted upfront from the loan amount|
|Mandate Rejection Charges||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|
"Broken Period Interest/ Pre-EMI Interest" shall mean the amount of interest on loan for the number of day(s) which is(are):
Scenario 1: Over and above the period of 30 (thirty) days from the date of disbursement of the loan
Method of recovery of Broken Period Interest/ Pre-EMI Interest:
Scenario 2: Less than period of 30 (thirty) days from the date of disbursement of the loan, Interest on first instalment will be charged for actual number of days
|Mortgage Origination Fees||Rs. 3000/-|
|Property Insight (if availed)||Rs. 6999/- (inclusive of applicable taxes)|
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Frequently asked questions
Why should I choose a loan against property balance transfer?
It is recommended that you choose a loan against property balance transfer when your present loan against property lending terms are no longer feasible for you. Transferring your loan against property balance to a different lender may entitle you to competitive interest rates, longer repayment tenure, and a top-up loan.
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. Your age, employment status, and city of residence are some of the key criteria for applying for the loan.
Is a self-employed individual eligible for a loan against property?
A self-employed Indian citizen residing in India, between the age group of 25 years* to 70 years* is eligible for the loan. Additionally, you should have a business continuity of over 5 years in the current business.
*Terms and conditions apply
What is the maximum repayment tenure for a loan against property?
You can repay the total sum borrowed over a convenient repayment tenure of up to 15 years*.
What kind of documents are required for loan against property balance transfer?
If you are planning to apply for a loan against property balance transfer, you must be ready with some basic paperwork. A self-employed applicant should have their KYC documents, proof of income (P&L statement), property documents like title deeds, proof of business, and account statements for the past 6 months, etc. handy.
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