Home Loan-Balance Transfer
Home Loan-Balance Transfer
Balance Transfer of Home Loan
Balance Transfer of Home Loan refers to transferring of running loan to a new lender for better rate and additional loan amount as top up. Balance transfer of Home Loan happens when the entire outstanding principal loan amount is transferred to another bank for a lower rate of interest. The bank that had originally extended the loan to you gets the outstanding amount and you have to, in turn, now pay your EMIs at the new rate to the bank that has taken up the loan. Almost every Bank and NBF in India has a facility for a balance transfer of Home Loan and if you have been paying your EMIs regularly, there is often no problem associated with it.
We will help you with the best deal in balance transfer of Home Loan with our professional team and give you personalized solution to your requirement.
Compare home loan transfer rates offer by top Banks & NBFC in India of all banks.
|
Bank |
Home Loan Transfer Rates |
Loan Transfer Processing Fees |
Lowest EMI per lakh |
|
Citibank |
8.75% |
Mas Rs. 10,000 |
Rs. 805 for 25 Years |
|
Kotak Bank |
8.95% |
Max Rs. 10,000 |
Rs. 874 for 20 Years |
|
Standard Chartered Bank |
9.25% |
Min Rs. 5,000 - Max 1.00% |
Rs. 884 for 20 Years |
|
HDFC Home Loan Transfer |
8.90% |
Min Rs. 10,000 - Max Rs. 0.50% |
Rs. 769 for 30 Years |
|
ICICI Bank Home Loan Transfer |
9.10% |
Min Rs. 5,000 - Max 1.00% |
Rs. 772 for 30 Years |
|
Axis Bank |
8.80% |
Min Rs. 2,500 - Max Rs. 1.00% |
Rs. 769 for 30 Years |
|
PNB Housing Finance |
9.10% |
Min Rs. 10,000 - Max Rs. 1.00% |
Rs. 794 for 30 Years |
|
SBI Home Loan Transfer |
8.75% |
Min Rs. 10,000 - Max Rs. 1.00% |
Rs. 765 for 30 Years |
|
LIC Housing Finance |
8.70% |
0.50% |
Rs. 769 for 30 Years |
|
Indiabulls |
9.75% |
Min Rs. 5,000 - Max 1.00% |
Rs. 862 for 20 Years |
|
GIC Housing Finance |
10.25% |
Min Rs. 2,500 - Max Rs. 1.00% |
Rs. 982 for 20 Years |
|
IDFC Bank |
9.25% |
Min Rs. 5,000 - Max 1.00% |
Rs. 787 for 30 Years |
|
Edelweiss |
10.50% |
Min Rs. 5,000 - Max 1.00% |
Rs. 944 for 25 Years |
|
Reliance Capital |
10.00% |
Min Rs. 10,000 - Max Rs. 1.00% |
Rs. 878 for 30 Years |
|
RBL Bank |
10.30% |
Min Rs. 5,000 - Max Rs. 15,000 |
Rs. 930 for 25 Years |
|
Yes Bank |
9.35% |
Min Rs. 10,000 - Max Rs. 1.00% |
Rs. 1,035 for 15 Years |
|
IIFL |
9.75% |
Min Rs. 10,000 - Max Rs. 1.00% |
Rs. 769 for 30 Years |
What is Home Loan?
Home loans are loans offered to home buyer to funding purchase of new house or construction or renovation of their existing house against the security of the underlying residential property. For a loan availed at the lowest housing loan interest rate of 8.45% and a maximum tenure of 30 years, lowest EMI is Rs. 765 per lakh of loan amount.
Benefits of taking home loan are:
- Housing loans are secured loans and therefore, home loan interest rates are lesser than unsecured loans.
- Home loans can be used for new home purchase, home renovation & home extension.
- Home loan repayments are in the form of EMIs which allows you to repay your loans based on your repaying capacity.
- These are long term loans ranging from 1 years to 30 years
- Existing house loan consumers can also avail best home loan top ups on their running loans from their existing bank or at the time of loan transfer from one bank to another.
- You have the option to select fixed rate loans or floating rate loans.
Home Loan Detail:-
|
Loan Amount |
Rs. 10 Lakh to Rs. 25 Cr |
|
Loan Amount as a percent of Property Value |
Up to 90% |
|
Interest Rate |
8.45% onwards. Check Best Offers |
|
Loan Tenure |
Up to 30 Years |
|
Processing Fees |
Up to 1% of loan amount or Rs. 10,000 whichever is lower |
|
Prepayment Charges |
Nil charges for floating rates loans |
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