Get Home Loan Balance Transfer
A home loan balance transfer occurs when customers move their existing principal balance to some other bank for a lower interest rate or for an additional Top Up loan amount. A home loan balance transfer is beneficial for people who have taken out a loan, but it is surprising that only a few people know about it. Home loan balance transfers lower your interest rates, allowing you to save money on interest payments. If you are looking for a home loan balance transfer, you could consider transferring your loan to any other Bank. With many lucrative offers and a lower rate of home loan interest, we have everything you need.
Document Required
A balance transfer for a reduced interest rate is known as a home loan balance transfer. Because of the disparity in interest rates offered on house loans, many people look for ways to achieve a cheaper rate and cut their monthly EMI. One of the most effective options is a balance transfer.
The following are some of the most common reasons people alter their loans:
Competitive rates: If you are paying a higher interest rate on a home loan, you get the right to pick a lower interest rate, particularly if your bank refuses to drop it.
Extended repayment term: If you want to prolong the payback tenure to lower your monthly deductible, but your current house loan lender does not let you, you may choose to switch to an organisation like Bank that would.
Better services: If you're unhappy with how your home loan provider is handling your account, it could be time to re-evaluate your selection.
Eligibility criteria for home loan balance transfer
Who Can Apply?
1) For self-employed individuals:
Must be Indian residents
Should be between 23-70 years of age
Must have minimum 4 years of business continuity
Must earn minimum Rs. 1.5 lakh per annum
Tenure duration: 12 months–300 months
2) For salaried individuals:
Must be resident and non-resident Indians
Should be between 21-60 years of age
Must have minimum 3 years of experience
Must earn minimum Rs. 1 lakh per annum
Tenure duration: 12 months–360 months
Resident Type: Resident Indian
Minimum Age: 18 years
Maximum Age: 70 years
Loan Tenure: up to 30 years
Loan Amount: Click Here
*List of papers/ documents applicable to all applicants
Employer Identity Card
Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card
Permission for construction (where applicable)
Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
Occupancy Certificate (in case of ready to move property)
Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller
Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year
*Income Proof for Salaried Applicant/ Co-applicant/ Guarantor
Salary Slip or Salary Certificate of last 3 months
Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.
Business address proof
IT returns for last 3 years
Balance Sheet & Profit & Loss A/c for last 3 years
Business License Details(or equivalent)
TDS Certificate (Form 16A, if applicable)
Certificate of qualification (for C.A./ Doctor and other professionals)
Avail home loan balance transfer up to Rs.10 crore with interest rates starting at 6.90% p.a. with additional benefits such as extended loan terms and flexible repayment options. Simple documentation, quick processing, and excellent customer service with a response time of 30 – 45 minutes makes BankBazaar a go-to place for all your housing loan needs.
Bank Name
SBI Home Loan
Interest Rate
8.05% - 11.85% p.a.(Floating Rate)
Processing Fee
0.35% onwards (min. Rs.2,000; max. Rs.10,000)(Processing Fee)
Loan Amount/Tenure
Loan Amount At the discretion of the bank 1-30 Years Tenure Range
Enquire
Bank Name
HDFC Home Loans
Interest Rate
8.10%* onwards (Floating Rate)
Processing Fee
0.5% or Rs.3,000 whichever is higher (Processing Fee)
Loan Amount/Tenure
Contact the bank for detailsLoan Amount1-30 YearsTenure Range
Enquire
Bank Name
Union Bank Home LoaN
Interest Rate
7.90% p.a. onwards (Floating Rate)
Processing Fee
0.50% or Rs. 15,000 Maximum(Processing Fee)
Loan Amount/Tenure
Rs. 25L MinLoan Amount1-30 YearsTenure Range
Enquire
Bank Name
PNB Housing Home Loan
Interest Rate
7.50% p.a. onwards (Floating Rate)
Processing Fee
Up to 0.5% of the loan amount (min 10,000 in both cases, excluding taxes)(Processing Fee)
Loan Amount/Tenure
Rs. Up to 90% of the cost of the propertyLoan Amount1-30 YearsTenure Range
Enquire
Bank Name
LIC HFL Home Loan
Interest Rate
6.90% p.a. onwards (Floating Rate)
Processing Fee
Up to Rs.1 Cr - 0.25% of Loan Amount, subject to maximum Rs.10,000/- (Plus GST), Above Rs.1 Cr and up to Rs.5 Crs - 0.25% of Loan Amount, subject to maximum Rs.25,000/- (Plus GST)(Processing Fee)
Loan Amount/Tenure
Rs. 30L -Rs 5Crs Loan Amount 5-30 Years Tenure Range
Enquire
Bank Name
Axis Bank Home Loan
Interest Rate
6.90% p.a. onwards(Fixed /Floating Rates)
Processing Fee
0.50% (min. Rs. 10,000)(Processing Fee)
Loan Amount/Tenure
Rs. 5L - Rs. 10 Crs Loan Amount 1-30 Years Tenure Range
Enquire
Why You Choose Us?
Banking Experience
Experience in leading Banks such as HSBC, Kotak Mahindra Bank, ICICI Bank, L&T Hosing Finance, Aditya Birla, Indusind Bank
Broader Association
Associated with Leading PSU, Private, MNC Banks and NBFCs.
Past Projects
Oberoi Splendor, Imperial Height, Windsor Lokhandwala, Address Ghatkopar, Hiranandani, Raheja Classic, Oberoi Spring, Palm Beach Wadhwa, Nri Seawood, Emerald Bay, Kalptaru, Rna Elegant
Banking Experience In Leading Banks
