What is Home Loan Balance Transfer?

What is Home Loan Balance Transfer?

What is Home Loan Balance Transfer? Balance transfer of a home loan happens when the entire unpaid principal loan amount is transferred to some another lender or financial institution for a lower rate of interest. What are the benefits of housing loan transfer? ▪ ▪

Get home loan transfer service at a lower interest rate of 8.55%*. Get an additional top-up loan of up to Rs. 50 Lakh on transferring your existing home loan. 2

Key Features of Home Loan Transfer When you opt for balance transfer service from reputed lenders such as Bajaj Finserv, you get these benefits ▪ ▪ ▪ ▪

Foreclosure facility Part-prepayment facility Manage your account online Customised insurance schemes 3

Eligibility Criteria for Home Loan Transfer These are the eligibility criteria for home loan transfer facility▪

Your property/house must be ready to occupy or already occupied.

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You must have paid more paid more than 12 loan equated monthly installments (EMIs).

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You should not have any outstanding dues on your existing housing loan. 5

FAQ about Home Loan Transfer

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Is refinancing home a beneficial idea? Yes, it is beneficial. Refinancing your current home loan helps you to get low rate of interest on home loan that your current lender does not offer.

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Does refinancing hurt your credit score? No. Refinancing your home loan will not lower your credit score.

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Do you require a guarantor for home loan transfer? No. There is no mandatory requirement of a guarantor.

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THANKS! ANY QUESTIONS? Get in touch with Bajaj Finserv at - 1800-103-3535

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