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  • Home Loan BYTES FROM OUR KITCHEN

    HDFC Home Loan Balance Transfer

    Caught up in a home loan that is demanding high monthly instalments and burning up your savings? You can avail higher loan amount and also substantially save on interests by transferring your existing home loan to HDFC. HDFC Home Loan Transfer will aid you in saving more by lowering your EMI and interest rates.

    HDFC Bank was established in 1994 and since then, has been a trailblazer in the Indian financial market. HDFC has a nationwide footprint and offers services like deposits, loans, insurance, investment and trading for corporates, NRIs, Indians and SMEs. HDFC Home Loan comes with a lot of features that benefit the borrower and is one of the most sought-after products in the home loan front. If you have made the mistake of selecting a wrong home loan product, you can rectify it now by switching to HDFC Home Loans.

    HDFC Home Loan Balance Transfer Interest Rates For Salaried Individuals:

    Loan Slab Rates Of Interest
    For all women (up to Rs.75 lakh) 8.35% to 8.85%
    For all women (above Rs.75 lakh) 8.40% to 8.90%
    Others (up to Rs.75 lakh) 8.40% to 8.90%
    Others (above Rs.75 lakh) 8.45% to 8.95%

    For all women, the rate of interest associated with HDFC home loan balance transfer ranges between 8.35% to 8.85% for a loan amount of up to Rs.75 lakh. In case of all the others, the home loan balance transfer interest rate ranges between 8.40% to 8.90%. For all women, the rate of interest associated with HDFC home loan balance transfer ranges between 8.40% to 8.90% for a loan amount of above Rs.75 lakh. In case of all the others, the home loan balance transfer interest rate ranges between 8.45% to 8.95%.

    *The same rate is applicable for TruFixed (Salaried), Self-employed (professionals and TrueFixed), salaried NRIs, and professional NRIs.

    HDFC Home Loan Balance Transfer Interest Rates For Self-Employed Individuals (non-professionals):

    Loan Slab Rates Of Interest
    For all women (up to Rs.75 lakh) 8.45% to 8.95%
    For all women (above Rs.75 lakh) 8.50% to 9.00%
    Others (up to Rs.75 lakh) 8.55% to 9.05%
    Others (above Rs.75 lakh) 8.60% to 9.10%

    For all women, the rate of interest associated with HDFC home loan balance transfer ranges between 8.45% to 8.95% for a loan amount of up to Rs.75 lakh. In case of all the others, the home loan balance transfer interest rate ranges between 8.55% to 9.05%. For all women, the rate of interest associated with HDFC home loan transfer ranges between 8.50% to 9.00% for a loan amount of above Rs.75 lakh. In case of all the others, the home loan balance transfer interest rate ranges between 8.60% to 9.10%.

    *The rates are same for TrueFixed (self-employed, non-professionals, and NRI self-employed, non-professionals)

    Documents Required For HDFC Bank Balance Transfer Home Loan:

    The following documents are required for HDFC home loan transfer.

    1. Copy of all property documents including Own Contribution proof
    2. Latest outstanding balance letter from the existing loan provider on their letterhead
    3. A letter by the existing lender on their letterhead quoting the list of property documents that is held by them.
    4. Identity proof and proof of address

    Do enquire with HDFC about the complete list of documents to be presented before applying for home loan transfer.

    Fees And Charges For HDFC Home Loan Balance Transfer

    Processing Fees
    • Self-employed professionals – Rs.3000 or 0.50% of the loan, whichever is more, along with the applicable taxes.
    • Self-employed non-professionals - Rs.4500 or 1.50% of the loan, whichever is more, along with the applicable taxes.
    • Salaried individuals - Rs.3000 or 0.50% of the loan, whichever is more, along with the applicable taxes.
    Check Dishonor Charges Rs.200
    Property Insurance Customer must pay the premiums to the insurer directly so that policies remain active during the loan pendency.
    Incidental Charges These costs are levied to cover expenses incurred with respect to recovery of dues from defaulting customers.
    List Of Documents Up to an amount of Rs.500
    Pdc Swap Up to an amount of Rs.200
    Photocopy Of Documents Up to an amount of Rs.500
    Disbursement Cheque Cancellation Charge Up to an amount of Rs.200
    Decrease Or Increase In The Term Of Loan Up to an amount of Rs.500 plus the applicable taxes.

    *Fees and charges are same for NRIs in the Middle East.

    Process For Home Loan Takeover:

    Step:1 Check the present rate and calculate the interest savings.

    Step:2 Calculate approximate cost on account of different fees and charges.

    Step:3 Choose the bank you want to transfer the loan to and decide if you wish to go for a top-up.

    Step:4 Obtain the list of the property documents deposited with the current bank. Also, get the foreclosure letter from your current bank.

    Step:5 Apply for the loan with the new bank and submit all the photocopy of the property documents.

    Step:6 Obtain the sanction letter and initiate a new loan agreement.

    Step:7 Avail the disbursement fro the new bank by demand draft or Cheque.

    Step:8 Obtain all property documents from the previous bank and deposit them to the new bank.

    Features And Benefits Of HDFC Home Loan Balance Transfer For The Salaried Individuals:

    • You can transfer the outstanding home loan availed from a different bank or a lender of HDFC and enjoy a top up loan up to an amount of Rs.35 lakh.
    • Lucrative rates of interest can be availed by you to make the home loan more affordable for you.
    • Enjoy customized options for repayments that suits your requirement.
    • There aren’t any hidden charges associated with HDFC home loan balance transfer.
    • The widespread network of the bank allows you to avail and service the loan anywhere across the country.

    Features And Benefits Of HDFC Home Loan Balance Transfer For The Self Employed Individuals:

    • Transfer the outstanding housing loan amount borrowed from a different bank to HDFC and enjoy an add-on top up loan of Rs.35 lakh.
    • Enjoy flexible and customize options for the repayment of the loans that suits your requirements.
    • There are no hidden charges for this loan.
    • The rates offered by HDFC home loan balance transfer can make the home loan easier on the pocket for you.
    • The home loan schemes come with a lot of innovation.
    • Enjoy doorstep assistance with the home loan.
    • The widespread network of the bank allows you to avail and service the loan anywhere across the country.

    Features And Benefits Of HDFC Home Loan Balance Transfer For The Salaried Nris In The Middle East:

    • Enjoy lucrative rates of interest with the home loans.
    • There are absolutely no hidden charges associated with the HDFC Home Loan Balance Transfer.
    • Loans can be availed by individuals employed in Merchant Navy.
    • Home Loan advisory services can be availed with this product.

    Features And Benefits Of HDFC Home Loan Balance Transfer For The Salaried Nris In The Middle East:

    • The rates that you can avail with the HDFC home loan balance transfer are competitive.
    • Enjoy innovative and customizable home loan schemes.
    • There are no hidden charges with this product.
    • Home Loan advisory services can be availed with this product.
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