DHFL Home Loan Balance Transfer
DHFL (Dewan Housing Finance Corporation Ltd) is now Piramal Capital and Housing Finance Limited (PCHFL). You can apply for a DHFL home loan balance transfer by applying for a Piramal Housing Finance Home Loan. Avail customized home loan refinancing options starting at 10.50% p.a. Enjoy lower EMIs, no cost top up & tenure extension with easy & hassle-free home loan balance transfer to Piramal Housing.
Apply for DHFL Home Loan Balance Transfer @ 10.50% Interest Rates
DHFL Home Loan Balance Transfer Details
| Amount | According to the eligibility & requirements |
| Interest Rate | 10.50 % p.a. onwards |
| Tenure | Up to 30 years |
| Processing Fee | Up to 3 % of the loan amount |
| Foreclosure Fee | NIL for floating loans |
DHFL Home Loan Balance Transfer Interest Rates
The interest rate for home loan balance transfer to DHFL will now be assessed as per Piramal Housing Finance. Currently lowest interest rate for salaried and self-employed for home loan balance transfer starts from 10.50% p.a.
Benefits & Features of DHFL Home Loan Balance Transfer
Easy to follow loan application process.
- Lower your EMIs & interest rate on home loan with balance transfer.
- Both salaried & self-employed get preference.
- Dedicated relationship manager for home loan-related queries.
- Opt for flexible home loan tenure & repayment schemes.
- Avail top-up with home loan balance transfer, according to needs.
- Up to 3% processing fee applicable.
- No foreclosure charge for floating loans.
- Adding a co-applicant is mandatory.
DHFL Home Loan Balance Transfer Eligibility Criteria
To apply for Piramal Housing Loan (earlier DHFL), you need to comply with HFC’s credit policy. Broadly, you need to qualify for the following:
| Salaried | Self employed | |
|---|---|---|
| Age |
| 23-70 years |
| Employment Type |
|
|
| Documentation Required |
|
|
Documents Required for DHFL Home Loan Balance Transfer
Documentation requirements for Piramal/ DHFL home loan balance transfer are as follows:
| Salaried | Self employed | |
Proof of Identity (any one) |
|
|
| Proof of Income |
|
|
Proof of residence (any one) |
|
|
DHFL Home Loan Fees & Other Charges
DHFL (Piramal) home loan balance transfer fees and charges are as under:
| Processing Fees | Up to 3% of loan amount |
|---|---|
| Part prepayment or foreclosure | NIL for floating rate loans 2% of principal paid for fixed loans |
| Penal charges | 2% p.m. on outstanding amount |
| Issue of document copy | Rs 500 per instance |
Process to Apply for DHFL Home Loan Balance Transfer
To apply for a balance transfer, follow a step-by-step process.
- Step 1: Submit a prescribed loan closure application form to the existing lender.
- Step 2: The lender, upon receiving a balance transfer request, will perform the backend checks. It will assess the loan outstanding and any defaults. Once the account is cleared, they will issue a ‘No Objection Certificate’ for your Home Loan Balance Transfer application along with other documents like the latest outstanding letter, Home Loan Repayment Track Record, etc.
- Step 3: With the NOC in hand, you can officially apply for home loan balance transfer to the new lender. With submission of documents and NOC, the lender’s legal team will review your application.
- Step 4: The new lender will send intimation to the previous lender. On acceptance, the old lender will hand property documents to the new one. With this step, the loan is taken over by the new lender. The lender will issue a sanction letter and credit the proceeds in the loan account. Now onwards, EMIs are required to be paid to the new lender according to the new loan agreement.
DHFL Home Loan Customer Care Details
Contact Piramal Capital & Housing for all your queries related to DHFL Home Loan.
You can contact customer care on toll-free number 1800 266 6444 from 9:30 AM to 6:00 PM (Monday to Saturday).
- Address:
- 4th Floor, Piramal Towers,
Ganapatrao Kadam Marg,
Lower Parel West,
Lower Parel, Mumbai,
Maharashtra 400013
- 4th Floor, Piramal Towers,
- Email: customercare@piramal.com
- Branch Timings: 10 am to 4 pm (Monday to Friday)
FAQs
Home Loan Balance Transfer is also known as home loan refinancing. You can transfer your existing home loan to another lender at a lower rate of interest. The facility lets you reset loan repayments with lower EMIs, extended tenure and amount top up.
Apply for home loan balance transfer if you have an offer for lower than your existing home loan interest rate from other lender. Besides low interest rates, borrowers apply for loan refinancing when they are dissatisfied with services of the existing lender, need a loan top up or are looking for resetting of repayment schedule.
Apply for home loan transfer when you are getting lower rate of interest offer from other lenders. Further make sure there is enough residual loan period so that the interest saving is substantial. Loans which are already nearing maturity must not be considered for a home loan balance transfer. Last but not the least, review charges & fees involved before signing up with the other lender.
Yes, you can merge two home loan accounts and avail Piramal housing finance home loan at lower interest rate. The balance transfer will result in interest saving and lower EMIs.
It may take 1 to 3 weeks (7- 21 days) to process a home loan balance transfer request.
It is mandatory to apply for DHFL (Piramal) home loan with a co-applicant. In some cases, a woman co-applicant is mandatory. Your spouse or any biological relative like parents, siblings, children can also become the co-applicants. Further, all co-owners of property are also required to be placed on the loan structure. Only partners, directors and shareholders are allowed as non-related co applicants.
To check the status of your existing DHFL home loan, you should login to your home loan account on the lender’s website or mobile app. You can click on the loan statement and save or download it according to your needs. You can also call Piramal Capital & Housing Loan customer care for details of your home loan.