Apply for Home Loan Balance Transfer

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Home Loan Balance Transfer

Home Loan involves huge amount of money and this makes the Home Loan interest rate, a matter of concern for those who decide to seek a Home Loan. Home Loan Balance Transfer is a viable option available to those who are running a home loan and wish to transfer the loan to some other bank due to any reason.The customer generally need not pay any penalty to the existing lender and this makes the transfer cost inexpensive.

You can balance transfer your home loan in these scenarios:

  • If you realize that you are paying a higher interest rate than the prevailing market rate. In such a situation, balance transfer will reduce the interest cost burden.
  • If you are unhappy with the service standard of your existing lender
  • If you wish to switch from a floating rate to a fixed rate of interest
  • If you wish to opt for a Home Loan overdraft facility and the existing lender does not offer this facility.
Home Loan Balance Transfer application is often treated as a new home loan application and can be opted on an existing home loan only after a pre-determined time period as mentioned on the original loan agreement. Once the Home Loan transfer is completed, the borrower owes the loan amount to the new lender instead of the original one.

EMI Calculator

EMI Calculator

Loan EMI

Total Interest Payable

Total of Payments
(Principal + Interest)

Eligibility Calculator

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EMI Calculator

Balance Transfer Calculator

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Payout in new loan

 

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Prepayment Amount Calculator

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Note on part prepayment
Amount - How much do you want to part prepay?
Month - When do you want to prepay? If you availed your loan in Jan’16 and want to part pay in Jan’17, then please enter 12 months.

Loan repaid in

MONTHS