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HDFC Home Loan Balance Transfer Details

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

Balance Transfer ComponentsDetails
Interest Rate for Salaried & Self-employed8.50% - 9.15%
Processing feeUp to 0.50% of the loan amount or Rs.3,000 whichever is higher, plus applicable taxes.
EligibilityIf you currently have a home loan with another bank or HFL, and have maintained a regular payment track for at least 12 months, you are eligible to apply for a balance transfer loan from HDFC
Maximum Tenure30 yrs.

Current Home Loan Balance Transfer Interest Rates Starting @8.50% - 9.15%, Check EMI & Apply Now

Note: Note: HDFC Bank is powered by https://www.hdfc.com/ and the information mentioned here is provided by HDFC.

HDFC Home Loan Balance Transfer Apply

HDFC Home Loan Balance Transfer Interest Rates

Although we know that HDFC is offering the lowest balance transfer rate of 8.50% - 9.15% p.a., it is important to know the exact home loan balance transfer interest rates which is being offered according to the working condition of the loan applicant. 

Home Loan BT Rate for Salaried & Self-employed Professionals

Balance Transfer ParticularsDetails
Interest Rate per annum8.50% - 9.15%
Processing feeUp to 0.50% of the loan amount or ₹3,000 whichever is higher, plus applicable taxes.

Classification of Self-employed

Self-employed ProfessionalsSelf-employed Non-Professionals (SENP)
Doctor, Lawyer, Chartered Accountant, Architect, Consultant, Company Secretary etcTrader, Commission Agent, Contractor etc.

Home Loan BT Rate for Self-employed Non-Professionals

Balance Transfer ParticularsDetails
Interest Rate per annum8.50% - 9.15%
Processing feeUp to 0.50% of the loan amount or Rs. 3,000 whichever is higher, plus applicable taxes.

Check Home Loan Balance Transfer Interest Rate for lowest HL BT interest rates.

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HDFC Home Loan Balance Transfer comparison with other Top Banks

Top BanksInterest RatesProcessing fee
HDFC8.50% - 9.15%Up to 0.50% of the loan amount or Rs. 3,000 whichever is higher + GST
Kotak Mahindra Bank8.70% - 8.95%Up to 0.50% of the loan amount + GST 
IDFC First Bank8.75% - 8.85%Up to 0.50% of the loan amount + GST 
Home First Home8.70% - 17.50%2% of the loan amount
Bajaj Finserv8.50% - 14.00%Up to 0.50% of the loan amount + GST 
Bank of Baroda8.40% - 10.60%Up to 0.50% of the loan amount + GST 
ICICI Bank9.00% - 10.05%0.50% - 2.00% of the loan amount or Rs. 3000/- whichever is higher + GST
Canara Bank8.40% to 11.25%0.50% of the loan amount (Min. Rs.1,500 and Max. Rs.10,000)

You can also check HDFC Home Loan EMI Calculator Online.

HDFC Home Loan Balance Transfer Processing Fee and Other Charges

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

TypeCharges
Check Dishonour ChargesRs.300**
List Of DocumentsUp to Rs.500
Photo Copy Of DocumentsUp to Rs.500
PDC SwapUp to Rs.500
Disbursement Cheque Cancellation Charge Post DisbursementUp to Rs.500
Re-Appraisal Of Loan After 6 Months From SanctionUp to Rs.2,000 plus applicable taxes
Reversal of Provisional Prepayment under HDFC Maxvantage SchemeRs.250/- plus applicable taxes/statutory levies at the time of reversal

You can also check HDFC MCLR Rate Today

HDFC Home Loan Balance Transfer Eligibility Criteria

  • 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?

Documents Required for HDFC Home Loan Balance Transfer

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 Bank.
  • 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 Bank.

You can also Check Pan Number for All Banks

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Home Loan Balance Transfer starts at 8.50% p.a for all profiles

Apply for Home Loan Balance Transfer online instantly and get lower interest rate starting at 8.50% p.a. Get better terms and services. You can also avail instant top up loan facility during balance transfer.

HDFC Home Loan Balance Transfer FAQs

✅ What is the interest rate for HDFC balance transfer?

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The interest rate for HDFC home loan balance transfer starts from 8.50% - 9.15% p.a. and can go as high as 9.00% (for self employed non-professionals).

✅ Can I avail a top loan in addition to a balance transfer loan from HDFC?

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Yes, you can avail a top up loan in addition to the balance transfer of home loan to HDFC.

✅ What is the maximum loan tenure I can opt for under an HDFC home loan balance Transfer?

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The maximum term that a customer can avail is 30 years or till the age of retirement ,whichever is lower.

✅ Can I avail Tax Benefits with HDFC Home Loan Balance Transfer?

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Yes, you can avail tax benefits with HDFC Home Loan Balance Transfer as similar to the regular home loan tax benefits.

✅ How can I transfer my home loan to HDFC?

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Here are the steps to initiate a home loan transfer to HDFC:

  1. Apply: Firstly, you need to inform your present lender that you wish to initiate a Home Loan Balance Transfer. This can be done by submitting an application form or a letter listing the reasons why you want to transfer.
  2. Obtain No Objection Certificate (NOC) or Consent Letter: After submitting the application, your current lender will provide you with a No Objection Certificate (NOC) or consent letter. This document is crucial for applying for the transfer with a new lender.
  3. Submit Required Documents: Once you have obtained the NOC, you need to submit the required documents to HDFC. Along with the NOC, you may have to provide KYC paperwork, property papers, loan balance, and interest statements.
  4. Receive Confirmation from Old Lender: After submitting the documents, wait for confirmation from your current lender that the original loan has been closed.
  5. Pay Fees: Once you receive confirmation from the old lender, you can pay the requisite fees to HDFC and begin a new loan contract.