IIFL Rate Of Interest8.70%
Simple Interest Applicable₹62,500
Top Up Loan Transfer₹3,73,563
A balance transfer is a facility in which a borrower can transfer his existing loan to another bank. There are generally 3 reasons behind the loan transfer: obtaining a lower interest rate on the loan, availing a top-up of the loan amount, or extending the tenure to repay the loan. However, there are not many home loan customers who are aware that this option can be beneficial to them.
A balance transfer with IIFL Home Loans can help you in saving money by reducing your interest payments as here you can avail of a home loan at interest rates starting from just 8.75% per annum!
Below conditions are applicable for claiming home loan tax benefits under section 24 (b):
IIFL Home Finance offers an interest rate starting from 8.75% if you are looking for your home loan balance transfer.
For home loan transfer, the repayment tenor is up to 20 years.
The customer is eligible for Balance transfer if he has repaid in previous lender for minimum of 18 months.
Disclaimer: The details are given for information purposes only. The reader shall use his prudence and conduct necessary due diligence for the respective Bank/Financial institution before concluding the transaction.