When it comes to managing housing finance or business expansion needs, you deserve nothing but the best. Our dedicated team of home loan and secured business loan experts guide and assist you with the refinancing needs that suit your requirements.
If you are already servicing a loan, you may have purchased at the best rate then. But the struggle to pay higher loan interest rates can put you in jeopardy and compel you to repay higher loan installments. If you have ended up relying on a lender who charges a high rate of interest, you can conveniently apply for 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 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 up to 8.90% on housing loans and 14.90% on business loans.
It lets you save extra bucks that you can invest at other places for a better return on investment (ROI). So, it’s time to re-examine your interest rate, and debt and reset your home loan and business loan at your convenience. IIFL Home Loans is here to help you in the best possible way.
We maintain transparency when it comes to home loan fees and charges. There are zero foreclosure or prepayment charges on the balance transfer facility.
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.
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 transfer.
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.
You can easily apply for Balance Transfer online and avail of our services at your doorstep
To apply for the IIFL Home Loans’ Balance Transfer service, the applicant is required to meet the following eligibility criteria:
A customer can avail balance transfer at a competitive rate starting from 8.90%. processing fees and other associated charges will be similar to home loans and secured business loans.
An additional charge of ₹ 2500 will be taken as part of transaction/legal handling services for loans up to ₹ 5 Lakh. For loans greater than ₹ 5 Lakh, ₹ 100 will be charged as a transaction/legal handling fee.
Calculate savings on your balance transfer facility with the help of this online balance transfer calculator. It is quick and convenient to use.
How to use the 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:
Benefits of using the Balance Transfer Calculator
Home Loan Balance Transfer allows you to transfer your outstanding home loan balance from your existing lender to IIFL Home Loans so that you can avail of lower interest rates and repay your loan term without any financial worries.
Yes. Balance transfer of a home loan makes sense if you are servicing your home loan at a far higher interest rate and unsatisfied with the services provided by your current lender.
At IIFL Home Loans, there is no maximum limit on the home loan transfer.
Borrowers can enjoy the following perks associated with the restructuring of home loans:
Yes. IIFL Home Loans lets you change the loan tenure at the time of transferring the home loan. However, it depends on the home loan amount.
Yes. You can transfer the loan if you are probably selling the property to another person.
Yes. A borrower can opt for a home loan balance transfer if he or she has an ongoing home loan under the PMAY scheme. However, PMAY benefits will not be re-provided to the customer