A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 1 DHFL Home Loan Balance Transfer

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9% - 9.75%
    5,000 to ₹20,000 One time fee
    1L - 5Crs
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    DHFL Home Loan Balance Transfer is Rated as "Pretty good" by 691 Users

    Fees & Charges

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    Home Loan BYTES FROM OUR KITCHEN

    DHFL Home Loan Balance Transfer

    Repayment of a Home Loan can be tiresome, exhausting and depending on the interest rate that you were offered at the time of the application, it can even be a burden to make timely payments each month. However, just because you have already taken the loan doesn’t mean that you have to be stuck with it. When you see that the market conditions have changed and the interest rates have dropped, you can save significantly on your payments. You can now transfer your Home Loan to DHFL at a significantly lesser interest rate structure by opting for the Balance Transfer Home Loan facility. Furthermore, you can

    Features and Benefits:

    • Purpose:

      You can avail the DHFL Balance Transfer Home Loan facility on any existing home loan from another lender.

    • Term and Tenure:

      You can avail the DHFL Balance Transfer Home Loan facility starting from 1 year and up to 20 years. Note, that the term of your loan is fixed at the retirement age of 60 if you are salaried and if you are self-employed, the retirement age is fixed up to 65 years of age.

    • EMI:With a long and flexible loan repayment tenure, you can reduce your monthly payments (EMI) on your new Home Loan Balance Transfer facility. This will help you maintain your existing lifestyle and your established living standards.
    • Processing Fee:

      You will be charged a fee for a complete technical and legal inspection of your property to confirm that it as per the legal procedure and all fulfills all other norms. This will help safeguard your property further. This is called the Processing Fee. For salaried employees (SAL), Self-Employed Professionals and Nonprofessionals (SEP/SENP), the charge is 1.5%. This charge excludes the Cess and Service Tax that you have to bear additionally.

    • Simple Repayments:

      You can choose between 2 repayment options for your loan that depends on the EMI on your Balance Transfer scheme –

      • ECS – You can choose repayment through Electronic Clearing Service that depends on the instructions to your bank.
      • PDCs – If you choose your repayment mode through Post Dated Cheques, they will be drawn on your Salaried or Savings account.
    • Tax Benefit:Under the DHFL Home Loan Balance Transfer scheme, you can avail maximum tax benefits. As per the current Income Tax rules, the admissible exemption u/s 24 is Rs. 1,50,000 for the amount of interest paid in a financial year and up to Rs. 1,00,000 for the principal that is repaid within the same year. Therefore, your tax can be exempt up to Rs. 2, 50, 000 where you can save up to Rs. 70,000 every year.
    • Stamp Duty:

      The cost for the stamp duty on the loan document will be borne by the applicant

    • Applicant/Co-Applicant Option:

      You can apply for the Balance Transfer scheme as a sole applicant or even with a co-applicant. However, if you have a co-applicant for your loan, it can enhance the loan amount you become eligible for.

    • Security:

      The Balance Transfer and the Balance Transfer Top-Up loans are both secured loans. The DHFL is governed by the subsidiary of RBI - National Housing Bank or NHB guidelines, which requires the property to be mortgaged by depositing registered sale deed of the property in question where DHFL alone with have the FIRST CHARGE on your property.

    • Simple Documentation Procedure:

      In order to speed up the process of your DHFL Home Loan Balance Transfer scheme application, you will need to provide the following documents –

      • KYC or Know Your Customer Documents
      • Your Bank Statements and Proof of Income Documents as per the login checklist
      • The documents related to your property

    Eligibility Criteria:

    • 80% of the Market Value OR 100% of the Principal outstanding amount and other charges that are based on the loan Foreclosure Statement/ SOA, depending on whichever is lower.
    • For salaried employment, the minimum age is 18 years and the maximum age of retirement is 60 years. For a self-employed, the maximum age of retirement is extended up to 65 years of age.
    • Various factors are considered to determine the home loan amount. Some of them are listed below –
      • Your Repayment capability
      • Your Educational Qualification
      • Your Age
      • Your Liabilities
      • Your Assets
      • The continuity and stability of your income
      • If you have a co-applicant, their income will also be taken into consideration
      • Your saving habits and other factors
      • The number of dependents

    Documentation Requirements:

    Documentation for KYC:

    As per the NHB (National Housing Board), new guidelines have been introduced for the Housing Finance Companies, called the Know Your Customer or KYC guidelines. These guidelines require you to provide the following documents for verification –

    • Verification of Identity – Photo ID Proof ( provide any one of the following)
      1. Passport
      2. Driver’s License/ DL
      3. PAN Card
      4. Election Card or Voter’s ID Card
    • Verification of Address – Residence Proof ( provide any one of the following)
      1. Electric Bill
      2. Phone Bill
      3. Ration Card
      4. Bank Statement or Passbook with your address
      5. A letter from your employer

    Documentation for Salaried Individuals:

    • Your KYC documents as per the list mentioned in the previous section.
    • Your latest 2 months’ salary slips OR salary certificate. However, the latest 6 months’ salary slips/ salary certificate will be required in case components such as OT (Overtime) and Incentives are included in your slips.
    • A copy of all bank statements OR passbooks for the latest 3 months that should include the first/front page.
    • If your company is a lesser known organization, then a company profile is required to be provided.

    Note: You will have to provide the original documents for all the aforementioned for the purpose of verification.

    Documentation for Self-Employed Businessmen:

    1. Know Your Customer (KYC) Documents as previously mentioned.
    2. An attested copy of income duty by a CA (Chartered Accountant) + A copy of the latest 2 years Income Tax Returns of the applicant
    3. A duly attested copy of Profit and Loss Account of your firm by a CA (Chartered Accountant) + A copy of the latest 2 years Balance Sheet
    4. A profile of your business on your Business Letterhead (make it brief)
    5. Bank Statement of the latest 6 months for – Current Account, Savings Account, O/D Account
    6. A copy of one of the following – Registration or an old ITRs evidencing business OR VAT registration or another mandatory license OR Shop and Establishment License
    7. A copy of one of the following,(if applicable) – Memorandum of Associations, Partnership Deed, Articles of Association
    8. A copy of one of the following, (if applicable) – Form 16 OR Tax Deduction Certificate
    9. A copy of one of the following, (if applicable) – Details of Contract
    10. A copy of the Self-Assessment Tax paid challan OR copy of Advance Tax paid

    Note: Original documents of the above must be submitted for verification purpose

    Documentation for Self-Employed Professionals:

    Over and above the documents mentioned in the previous section, you will need to submit additional documents listed below –

    • Your Educational Qualification Certificate Copy
    • Your Professional Practice Certificate Copy
    • Your Salary Certificate – applicable to doctors having a salaried income

    Note: Please carry the original documents as well for the purpose of verification.

    Documentation for Non Resident Indians:

    • Your KYC documents
    • A Salary Certificate from your employer that should mention the following information – Your name as per your Passport, your passport number, your date of joining the company, your designation, your latest salary and prerequisites, all of the information should be mentioned in English only.
    • Your latest 2 months’ salary certificate OR salary slips. However, the latest 6 months’ salary certificate /slips will be required in case components such as OT (Overtime) and Incentives are included in your slips.
    • If you file your Income Tax Returns in India, you will need to provide your latest IT Returns.
    • If you are a self-employed individual, you will need to provide the following – Registered Power of Attorney, Trade License OR agreement with your sponsor.
    • A copy of your Passport that must include a valid page of residence VISA.
    • A copy of your Labor Contract/ Work Permit/ ID Card or any other document as a proof of work/ employment that is issued by the govt. authorities concerned.
    • Detailed estimates of cost from an engineer or architect (from India), Property related documents
    • Processing Fee – The processing fee cheque that is drawn from the applicant’s bank in India OR the draft that is payable at the bank branch where the application will be processed.
    • Income documents for salaried employees must be attested by an embassy official if the documents provided such as the bank statement for the credit salary or frequent remittance of fund to India is unavailable.
    • If applicable, a copy of all the overseas bank statements for the latest 6 months.
    • A copy of NRO/NRE bank statement for the latest 6 months.
    • POA – Power of Attorney if you are unavailable in India for signing any documents in DHFL’s format.
    • Continuous Discharge Certificates copy.

    Note: Please bring the original documents for the mentioned above for verification purpose.

    Fees and Charges:

    Loan Application Form

    No charge

    Processing Fee

    • 0.1% up to 1% + Service Tax ( differs depending on case to case basis)

    • Upfront Amount – Min Rs. 5000 + Service Tax OR 0.5% of the loan application amount– whichever amount is lower. The balance processing fee will be collected before the disbursement of loan

    Default Installment Overdue Charges – EMI/Pre EMI

    18% per year on the outstanding balance amount

    Issuance Charge for Demand Draft/ Pay Order

    Rs. 150 per Rs. 1,00,000 or the actual Bank Charges (whichever is higher)+ Service Tax

    Copy of Property Papers

    Rs. 500 + Service Tax

    Copy of No Dues Certificate

    Rs. 250 per visit + Service Tax

    Technical Fee – pre technical/ additional property/ property situated outside geographic boundary

    • No charge if property is situated within 60 km

    • After 60 km – Rs. 500 for the 1st visit and Rs. 750 for every additional visit

    Legal Fee

    Depends on case to case basis

    FAQs:

    1. Who are eligible to apply for the DHFL Balance Transfer Home Loan?
      • An Indian resident OR a Non-Indian Resident (NRI)
      • Can be a salaried employee or a self-employed
      • Must be at least 18 years of age during the commencement of the loanIf salaried, must be below 60 years of age when the loan matures and if self-employed, must be below 65 years of age when the loan matures
    2. What are the repayment tenure options available for the DHFL Balance Transfer Home Loan?

      You can choose a repayment tenure between 1 year and up to 20 years.

    3. Do I need a guarantor to apply for the DHFL Balance Transfer Home Loan?

      No. DHFL does not ask for a guarantor for a home loan application. However, depending on your requirement/financial status, you can have a co-applicant for your loan that will help enhance the loan amount you will be eligible for.

    4. How long will you take to process my DHFL Balance Transfer Home Loan application?

      If all the necessary documents have been provided by you, the loan approval can take 3 to 15 days.

    5. Is a security required for the DHFL Balance Transfer Home Loan application?

      Yes. As per RBI’s National Housing Board guidelines, DHFL will have the FIRST CHARGE on your property.

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  • DHFL Home Loan Transfer Reviews

    • DHFL Home Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      I got the home loan with the DHFL and initially the interest rate is around 10.5% and then it changed to 10.30% and now it has currently changed to 9.30 Services are satisfactory one with them. Documentation process is very nominal , the insurance amount they have charged way high like 64000/-
      Was this review helpful? 0
      , solapur
      Reviewed on Jul 07, 2017
    • DHFL Home Loan
      "Hassle free"
      0.5 4.0/5 "Great!"
      I purchased an apartment it got a tie up DHFL, hence I processed my home loan with them. Within ten days DFHL have sanctioned my loan. I took the amount of Rs.17 lakhs for the tenure of 20 years. DHFL gave me 10.8% of interest it is floating rate one. Their service is also good like banking sector.
      Was this review helpful? 0
      , kurnool
      Reviewed on Jul 07, 2017
    • DHFL Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      The DHFL is good in the service still they can give better service in concern to the home loan. I got the loan within 2months of time. The documentation process took too much of time , that was the reason why my loan got delayed. The rate of interest was high when compared with others, also I am very much happy with the loan amount.
      Was this review helpful? 0
      , panipat
      Reviewed on Jul 01, 2017
    • DHFL Home Loan
      "Very Good service"
      0.5 3.5/5 "Pretty good"
      The DHFL process was very fast in concern to the home loan. The documentation process was done in 10 days of time, within 10 days I got disbursement as well. The rate of interest is competitive and I got the housing loan on 2015 and that time DFHL offered interest rate was low . Then I would say it was very good experience with DFHL. The process was done in smoother way. I never felt any kind of hassle in their service.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 13, 2017
    • DHFL Home Loan
      "Service and Interest rate has to be improved"
      0.5 3.0/5 "Satisfactory"
      DHFL sanctioned only 80% of amount on my property value and their loan process also got delayed. DHFL had taken around one month to process the loan, but I submitted all the papers to them, like KYC, property documents and last two years form16 etc. Finally I got the amount of Rs.33 lakhs for the tenure of 20 years. My Emi amount is Rs.33,200 every months. I am not happy with the interest rate, all banks were offering reversed interest rate of 8.5% but they giving 9% of interest rate.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 07, 2017
    • DHFL Home Loan
      "Delayed response"
      0.5 2.0/5 "Expected more"
      I initially applied for a home loan with DHFL before I took the loan from Saraswat co-operative bank. The process to get my sanction letter was a very lengthy one and because of which I cancelled my plans to take the loan from them. It was not a good experience.
      Was this review helpful? 4
      , mumbai
      Reviewed on Jun 06, 2017
    • DHFL Home Loan
      "Happy Service"
      0.5 4.0/5 "Great!"
      I think I had taken housing loan from DHFL during last year November. The loan process was really smooth, there are no issues with them in taking the loan. Interest rate is below 9% and I am happy with the bank for the housing loan process. Customer service is also good.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 01, 2017
    • DHFL Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      During the year 2010, I had taken housing loan from DHFL. At that time, the interest rate was 8.5% now it has been increased up to 11%. I had spoken to the bank to reduce the rate, they said they will do so. Documentation process is as same as other banks and the customer service is really good.
      Was this review helpful? 1
      , mumbai
      Reviewed on May 31, 2017
    • DHFL Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan is from DHFL. The services were good and we got a good deal from them as well. The rate of interest was of 9%, and the process was completed on time. I had applied for 24 lakhs initially and that also got sanctioned later on I have other flat with low budget so I had opted for 19 lakhs.
      Was this review helpful? 2
      , mumbai
      Reviewed on May 30, 2017
    • DHFL Home Loan
      "Very Good"
      0.5 4.0/5 "Great!"
      I have got the home loan from DHFL and the rate of interest is nominal one with them. The loan amount got approved within fifteen days of time and the customer service are good one with them. Response is also an immediate one with them like they are okay to help on the time when it comes to customer approach.
      Was this review helpful? 2
      , bangalore
      Reviewed on May 29, 2017
    • DHFL Home Loan
      "Response has to be improved"
      0.5 3.0/5 "Satisfactory"
      DHFL service is not up to the mark, they wont respond well for any queries. But their loan process was good but their response has to be improved. I have the loan amount of Rs.10 lakhs for the tenure of 15 years, I already paid it for five years remaining I should pay for ten y ears. They offered the interest rate of 12% on home loan
      Was this review helpful? 3
      , coimbatore
      Reviewed on May 25, 2017
    • DHFL Home Loan
      "Not Followed their promises"
      0.5 0.5/5 "Unacceptable"
      Application no. 01460145. My home loan had not got approved until 5th April (according to DHFL representative statements). They told that, that was the year end so they would process my loan on next financial year. Eventually, it got approved on 6th April and they informed to arrange the registration. So I arranged the registration on 7th April and they dispatched the cheque on 7th April. Everything was set to go. Anyone would expect the EMI be following in the month of May as I got the Loan amount in the month of April. I am very shocked, as the loan got approved on 6th April and first EMI starts on 12th April. So I called and inform to DHFL rep, he told "I will check and let you know". I called him on 13th April. It's more than a week since I raised my concern & still have been waiting for the response. I tried contacting them but the respective staff did not pick my call. Now They charged 11.25% interest, since they confirm as 10.25% while they check my credit eligible.
      Was this review helpful? 4
      , chennai
      Reviewed on May 09, 2017
    • DHFL Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Recently I had taken a housing loan from DHFL. Interest rate is 8.14% which is too normal when compared with other banks in the market. I am quite satisfied in rate of interest. Documentation part is very simple with them. I had received a very good customer service from DHFL.
      Was this review helpful? 7
      , indore
      Reviewed on May 04, 2017
    • DHFL Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I am having the home loan with the DHFL and I got the loan approval in couple of days. Services are an excellent one with them. Interest rate is around 8.7% and the response is also a good one with them. Documentation procedures are nominal one with them.
      Was this review helpful? 4
      , dubai
      Reviewed on Apr 29, 2017
    • DHFL Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I got home loan from DHFL. When I was taking a loan from them the interest rate was 9.55% now they have changed it to 8.95%. Two years back I had taken a loan. Till there is no issues with them. I had got this loan with ten days of time. Their approach is really good.
      Was this review helpful? 2
      , erode
      Reviewed on Apr 27, 2017
    • DHFL Home Loan
      "Fast Service"
      0.5 4.0/5 "Great!"
      I had got home loan from DHFL. Recently I availed the loan. The interest rate is 9.80% which is nominal. It was easy for me to take a loan from them. Even they had completed the home loan process within the stipulated time. I got such a fast service from them.
      Was this review helpful? 1
      , pune
      Reviewed on Apr 26, 2017
    • DHFL Home Loan
      "Applied Insurance without signing any doc & started EMI"
      0.5 0.5/5 "Unacceptable"
      Regarding the DHFL application ID: 01459573, submitted a Nallasopara Branch, post finalization on deal of my First Home in Mira Road, I applied for an Home Loan in DHFL by 1-2 week of March. When I went to sign the final agreement and documents on 25th March, I was shocked to see the final loan amount was jumped from ~34 lakh to ~37 lakh. Without any confirmation DHFL opted for all insurance that summed to 2.25 lacs. I asked to revert the insurance but they said its not possible and asked to cancel. Now they have started collecting the EMI without Disbursement and any document with penalty. I am really in trouble, my home owner is on top of my head to cancel the deal.
      Was this review helpful? 5
      , mumbai
      Reviewed on Apr 20, 2017
    • DHFL Home Loan
      "Good "
      0.5 4.0/5 "Great!"
      I got the home loan with the DHFL with the interest rate as 9.8% and the loan amount got disbursed to my account within thirteen to fourteen days of time. Response is good one with them but am not satisfied with the customer service like they have not resolved my queries real time. Post disbursement response is not really good with them.
      Was this review helpful? 0
      , lucknow
      Reviewed on Apr 15, 2017
    • DHFL Home Loan
      "Prompt"
      0.5 4.0/5 "Great!"
      I got the home loan with DHFL and their interest rate is slightly high while compare with other competitors. The loan amount got disbursed to my account with quite faster moment. Response is good one with them, also they are very prompt and their processing charges are also less one with them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 10, 2017
    • DHFL Home Loan
      "Good Bank and Good Service"
      0.5 4.0/5 "Great!"
      One and half years ago, I had taken a home loan from DHFL Bank. At that time, the interest rate was 9.7% which is nominal and there are no foreclosure charges on my home loan. The customer service is excellent, they were very cautious and they always aim at providing customer satisfaction.
      Was this review helpful? 4
      , pune
      Reviewed on Mar 28, 2017
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