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Bajaj Finserv Home Loan Balance Transfer offers a strategic refinancing solution for all individuals with their competitive interest rates. The interest rates for this transfer process begins at 8.30% per annum for salaried applicants and 8.55% per annum for the self-employed individuals. These rates can go upto 17.00% per annum and depend on the credit profile of the individual and the valuation of the property. This service allows transferring any outstanding loan amount to some other lender without any upper limit. In addition to that, it also offers a top - up loan facility of up to ₹1 crore or more, depending on certain eligibility criteria. The top - up loan can be used for home renovations, medical emergencies, or even for debt consolidation. There are 0 foreclosure charges on floating-rate loans for individual borrowers. The processing fee is up to 4% of the loan amount plus GST. Additional bounce charges range from ₹500 for loans ≤ ₹15 lakh to ₹10,000 for loans > ₹10 crore.

Home Loan Balance Transfer: Benefits, Eligibility & Costs Involved

Bajaj Finserv Home Loan Balance Transfer offers a strategic refinancing solution for all individuals with their competitive interest rates. The interest rates for this transfer process begins at 8.30% per annum for salaried applicants and 8.55% per annum for the self-employed individuals. These rates can go upto 17.00% per annum and depend on the credit profile of the individual and the valuation of the property. This service allows transferring any outstanding loan amount to some other lender without any upper limit. In addition to that, it also offers a top - up loan facility of up to ₹1 crore or more, depending on certain eligibility criteria. The top - up loan can be used for home renovations, medical emergencies, or even for debt consolidation. There are 0 foreclosure charges on floating-rate loans for individual borrowers. The processing fee is up to 4% of the loan amount plus GST. Additional bounce charges range from ₹500 for loans ≤ ₹15 lakh to ₹10,000 for loans > ₹10 crore.

The eligibility criteria to avail Bajaj Finserv Home Loan Balance Transfer include having an Indian citizenship (NRIs are also eligible if they are salaried applicants). Salaried applicants must be between 23 to 62 years of age, whereas self employed applicants must be between 23 to 70 years old during loan maturity. A minimum of 3 years of employment or business continuity is also required. Documents to be submitted for the process include KYC proofs, income statements (Form 16/salary slips), and 6 month bank statements. Approvals are granted generally within 48 hours.

The interest rate structure is linked to the RBI’s repo rate (6.25% as of April 2025), along with a spread based on creditworthiness. The CIBIL score requirement is 725 +, and repo-linked loans are available. Bajaj Finserv offers this product as a cost-effective refinancing tool, especially during the initial loan tenure when interest components dominate EMIs.

What is Home Loan Balance Transfer ?

A Home Loan Balance Transfer, also known as home loan refinancing, enables the borrower to transfer their existing home loan to a different lender. This transfer process is done so that one can avail favorable terms like reduced interest rates, flexible payment plans, or greater financial benefits through the top-up loans.

• The process starts with an initial request. 

• Borrowers inform their current lender of their intention to transfer the loan, through a formal application. 

• Next, the existing lender provides necessary docume