Apply For Home Loan Balance Transfer in Bahadurgarh
Optimize your finances and save big on interest rates with a hassle-free Home Loan Balance Transfer. Switch to better terms and secure your financial future today.
Apply For Home Loan Balance Transfer
Home Loan Balance Transfer - Switch to LoanLeap and Save Big
Transferring your home loan to a new bank / HFC can be a good option if the new bank / HFC offers a low interest rate or additional top-up loan. The following guide will help you in transferring your balance loan to a new bank / HFC, with an ease. A penny saved is a penny earned. Now you can have more money at your disposal to spend the way you like. Reduce the burden of your existing loans by transferring them to Aavas and avail the benefit of lower EMIs with our Balance Transfer product.
Benefits of Home Loan Balance Transfer
Lower Interest Rates
By opting for a Home Loan Balance Transfer, you can move your existing home loan to another lender offering lower interest rates.
Potential Savings on EMI
Transferring your home loan enables you to avail of competitive interest rates and, in turn, reduce your Equated Monthly Installments (EMIs).
Enhanced Loan Repayment Terms
By extending the tenure, you can further lower your EMI, making it easier to manage your monthly budget and improving your overall financial stability.
Ready To Save Big And Simplify Your Finances?
Documents Required for Home Loan
Identity Proof
Your PAN Card is mandatory, and any one of these:
• Passport
• Voter ID
• Aadhar Card
• Driving License
Address Proof
• Passport
• Voter ID
• Aadhar Card
• Electricity bill/ water bill/ telephone bill
• Driving License
Proof of Income
• Salary Slips/Bank Statement/Form 16
• Salary Certificate
Other Documents
• Signed Application Form with Picture
• Cheque For Processing Fee
• Bank Statement of Last 6 Months
Property Documents
• Title Deeds of the Property
• Proof of No Encumbrances on the property
Identity Proof
Your PAN Card is mandatory, and any one of these:
• Passport
• Voter ID
• Aadhar Card
• Driving License
Address Proof
• Passport
• Voter ID
• Aadhar Card
• Electricity bill/ water bill/ telephone bill
• Driving License
Proof of Income
• IT Returns and/or Financial Statements of last 3 years And/or
• Informal Income Documents
Other Documents
• Signed Application Form with Picture
• Cheque For Processing Fee
• Bank Statement of Last 6 Months
• Proof of business existence
Property Documents
• Title Deeds of the Property
• Proof of No Encumbrances on the property
EMI Calculator
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Loan EMI
Total Interest Payable
Total Payment
(Principal + Interest)
Frequently Asked Questions For Balance Transfer Loan
A Home Loan Balance Transfer allows you to transfer your existing home loan from one lender to another, usually to benefit from lower interest rates, reduced EMIs, and better loan terms. It enables borrowers to save money by opting for a more favorable loan option.
To initiate a Home Loan Balance Transfer, you need to apply for a new home loan with another lender. Once approved, the new lender pays off the outstanding balance of your existing home loan. Subsequently, you start repaying the new loan to the new lender, often at a lower interest rate and with improved terms.
Lower Interest Rates: Secure a lower interest rate and reduce your overall interest payments.
Reduced EMIs: Enjoy reduced Equated Monthly Installments, freeing up your monthly budget.
Consolidation of Debts: Combine multiple loans into one, simplifying your financial obligations.
Improved Loan Terms: Choose extended tenures or better repayment terms for enhanced flexibility.
Yes, eligibility criteria vary among lenders. Typically, lenders consider factors such as your credit score, repayment history, and property valuation before approving a balance transfer application. It is advisable to check with individual lenders to understand their specific eligibility requirements.