KOTAK MAHINDRA BANK
Home Loan Balance Transfer

Check out some of the important details about HDFC home loan balance transfer listed below - 

Current Home Loan Balance Transfer Interest Rates Starting @8.50%, Check EMI & Apply Now

Although we know that HDFC is offering the lowest balance transfer rate of 8.50% - 9.00% p.a., it is important to know the exact interest rate which is being offered according to the working condition of the loan applicant. 

Home Loan BT Rate for Salaried & Self-employed Professionals

Classification of Self-employed

Home Loan BT Rate for Self-employed Non-Professionals

Best Home Loan Interest Rates Starting @8.50%, Check EMI & Apply Now

Every Home Loan Balance Transfer consists of certain processing fees and other charges involved in the transfer. Listed below are the respective details -

Processing Fees for HDFC Home Loan Balance Transfer

For Salaried/Self Employed Professional: 
Up to 0.50% of the loan amount or Rs.3,000 whichever is higher, plus applicable taxes. 
Minimum Retention Amount: 50% of applicable fees or Rs.3,000 + applicable taxes whichever is higher.

For Self Employed Non-Professional: 
Up to 1.50% of the loan amount or Rs.4,500 whichever is higher, plus applicable taxes. 
Minimum Retention Amount: 50% of applicable fees or Rs.4,500 + applicable taxes whichever is higher.

Other Charges for HDFC HL BT

• Age: 21-65 years
• Nationality: Indian Resident
• Profession: Salaried applicants/Self-Employed Professionals /Self-Employed Non-Professionals

Checkout the complete process of How to Calculate Home Loan Eligibility on Your Own?

For Salaried Applicants

ID Proof and Address Proof

• Driving License
• Voter ID
• PAN Card
• Passport

Income Proof

• Salary Slips for last 3 months
• Latest ITR and Form-16
• Bank Statement for past 6 months showing salary credits

Documents for Balance Transfer

• Xerox of property documents
• A letter from the existing lenders on their letterhead mentioning the list of property documents held by them
• A letter on the letterhead of the existing financial institution stating the current outstanding balance

Other Documents

• Processing Fee cheque favoring HDFC Ltd.
• Bank statement for last 6 months showing the repayment of ongoing loans
• Passport size photograph attached on the application form with signatures across
• Employment Contract/ Appointment Letter if the current employer is 1 year old

For Self-Employed Applicants

Photo ID and Residence Proof

• PAN Card
• Voter ID
• Passport
• Driving License

Income Proof

• ITR along with income computation for the last 3 years (for individual and business entity attested by a CA)
• Balance Sheet for last 3 years and profit and loss account statement with annexure/schedules (for business entity and individual attested by CA)
• Savings account statement of individual and current account statement of business entity for past 6 months

Documents for Balance Transfer

• Photocopy of property documents
• A letter on the letterhead of the existing lender stating the list of property documents held by him
• A letter from the existing lending institution on their letterhead stating the latest outstanding balance

Other Documents

• Partnership deed, if the business entity is a partnership firm
• Latest Form 26AS
• Business profile
• Details of an existing loan of the individual and business entity including outstanding amount, remaining tenure, installments, security, etc.
• Articles of Association and Memorandum of the company
• Application form with passport size photograph attached and signed across
• List of shareholders and directors with their individual shareholding certified by CA and CS in case the business entity is a company
• Processing Fee Cheque in favor of HDFC Ltd.