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Home Loan Balance Transfer

Home Loan Balance Transfer

Choosing the home loan partner is as important as buying your own home. You can always choose to transfer your existing home loan from private & foreign banks, scheduled commercial banks (SCBs), housing finance companies (HFCs) registered with national housing bank (NHB) to Indiabulls Home Loans. As a home loan partner, we pride ourselves at not only providing convenient and comfortable home loan options, but also ensuring the kind of service which fosters a stronger bond between us and our customers.

You can choose to transfer your existing home loan balance to avail lower interest rates, save more with lower EMI’s or even top-up on your home loan amount. You can also avail balance Transfer on Loan Against Property.

  • Low interest rates
  • Additional top-up
  • Customised repayment options
  • Prepayment facility
  • Doorstep service
  • Online account access
  • No hidden charges
  • Special rate of interest for women applicants

You can apply for a balance transfer to Indiabulls Home Loans either individually or jointly. All owners of the property will have to apply as co-applicants to the loan. However, all co-applicants to the loan might not be co-owners of the property.

Loan Term:
The loan term is determined based on various factors, including the customer’s profile, the customer’s age, and the property’s age at the time of loan maturity etc. The maximum loan term can be of 30 years.

These are the documents that are required to apply for a Home Loan Balance Transfer -

Identity & Residency Proof:
  • Aadhaar card
  • Valid Driving License
  • Valid passport
  • Voter ID card
Proof of income for the Salaried:
  • Last 3 months’ salary slips
  • Last 6 months’ bank statements, showing salary credit
  • Latest Form-16 & IT returns
Proof of income for the Self-Employed:
  • Income Tax Returns with computation of income for the last 3 Assessment Years
  • Balance Sheet and Profit & Loss account statements of last 3 years along with the annexures and schedules
  • Current account statements of the business entity for the last 6 years
  • Savings account statements of the individual for the last 6 years
Property Papers:
  • NOC from the builder
  • Registered agreement for sale
  • Chain of all old Agreements for sale
  • Certificate of occupancy
  • Any maintenance bill, electricity bill, property tax receipt
Other Documents:
  • List of all original documents held at existing bank
  • Sanction Letter from the existing bank

The income tax authorities offer certain benefits and exemptions to individuals who have taken a housing loan from specified financial institutions.

  • Interest can be claimed as a deduction under Section 24. You can claim up to Rs. 2,00,000 (Rs. 1.50 Lakh up to A.Y. 2014-15) or the actual interest repaid whichever is lower.(You can claim this interest only when you are in possession of the house)
  • Principal can be claimed up to maximum of Rs. 1,50,000 (Rs 1 Lakh up to A.Y. 2014-15) under Section 80C as Tax rebate. Stamp duty, registration fee or other such expenses paid for the purpose of transfer of such house property to the assessee is also considered under this amount.
8.80% to 12.00%
# The final rate of Interest will depend upon Profile , Loan amount , tenor and property type.


To apply for a home loan balance transfer, click on the button below.
Apply Now