
No hidden charges
We maintain transparency when it comes to home loan fees and charges. There are zero foreclosure or prepayment charges on the home loan balance transfer facility.
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When it comes to managing housing finance needs, your home deserves nothing but the best. Our dedicated team of home loan experts guide and assist you with the refinancing needs that suit your requirements.
If you are already servicing a home loan, you may have purchased at the best rate then. But the struggle to pay higher home loan interest rates can put you in jeopardy and compel you to repay higher loan instalments. If you have ended up relying on a lender who charges a high rate of interest, you can conveniently apply for Home Loan Balance Transfer with IIFL Home Loans at competitive interest rates.
With a tenure of up to 20-30 years, you are bound to spend a large amount of your salary servicing it, and home loan interest rates play a crucial role as it comprises more than 50% of the home loan EMI component. To diminish the interest burden, IIFL Home Loans offers an attractive interest rate of 8.25% on housing loans.
It lets you save extra bucks that you can invest at some other places for a better return on investment (ROI). So, it’s time to re-examine your interest rate, debt and reset your home loan at your convenience. IIFL Home Loans is here to help you in the best possible way.
Following are some of the features of the IIFL Home Loans’ Home Loan Balance Transfer that set us apart from the other housing finance companies:
No hidden charges
We maintain transparency when it comes to home loan fees and charges. There are zero foreclosure or prepayment charges on the home loan balance transfer facility.
Flexible loan tenure option
Home loans are offered for a maximum tenure of up to 20 years. As a borrower, you get the flexibility to choose the home loan tenure and accordingly adjust your EMIs.
Expert team & quick approval
To ensure that the home loan balance transfer process is seamless, our team provides end-to-end assistance so that you avail an instant sanction on home loan transfer.
Competitive interest rates
If the rates charged by your existing lender is high, the higher would be the EMI outflow. With the balance transfer, you get to switch your home loan outstanding balance to IIFL Home Loans, thereby saving money on interest.
Doorstep service
You can easily apply for Home Loan Balance Transfer online and avail of our services at your doorstep
One of the primary reasons why borrowers opt for home loan refinancing is the lower interest rates. Transfer home loan balance to IIFL Home Loans to enjoy reduced home loan repayments.
By saving on interest, you accumulate funds that you can utilize for future investment or fulfil other dreams. With the help of lower interest-based loans, you can pay off the debt faster
You can choose a longer repayment cycle based on the loan amount. IIFL Home Loans lets you transfer your existing home loan at lower rates and select a repayment tenure so that monthly instalments complement your financial situation.
To apply for the IIFL Home Loans’ Home Loan Balance Transfer service, the applicant is required to meet the following eligibility criteria:
Home loan balance transfer at IIFL Home Loans is a simple process. To avail of a home loan at lower interest rates, apply for the IIFL Home Loans Balance Transfer facility and get the advantage of repaying the loan at reduced EMIs. The home loan transfer process documentation is similar to that of availing a home loan, including KYC and other additional paperwork for the transfer facility.
Below is the list of documents for both salaried and self-employed individuals:
Document type | Salaried | Self-employed |
---|---|---|
Application Form | Yes | Yes |
Identity Proof
|
Yes | Yes |
Address Proof (Any one of the below)
|
Yes | Yes |
Income Proof
|
Yes | Yes |
Property Documents
|
Yes | Yes |
Other Documents
|
Yes | Yes |
A customer can avail balance transfer at a competitive rate starting from 8.25%. Processing fees and other associated charges will be similar to home loans.
An additional charge of Rs. 2500 will be taken as part of transaction/legal handling services for loans up to Rs.5 Lakh. For loans greater than Rs. 5 lakhs, Rs.100 will be charged as a transaction/legal handling fee.
Calculate savings on your home loan balance transfer facility with the help of this online balance transfer calculator. It is quick and convenient to use.
How to use the home loan balance transfer calculator?
The algorithm-based online tool provides accurate results. Using the calculator is crucial to assess whether a balance transfer is useful for you. Here’s how you can use the calculator:
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