A "low interest" loan shouldn't mean you have very little interest in paying it back!
Compare: Best Home Loan Transfer Rates
Tata Capital offers to balance transfer your home loan from another bank at an attractive interest rates. The Tata Capital home loan balance transfer is customised as per your requirements along with the option to choose the tenure, loan amount and EMI.
| Description | Salaried and Self-Employed |
| Home Loan Interest Rates | 8.50% onwards |
| Loan Tenure | Up to 30 years |
| Loan Amount | Up to Rs.5 crore |
| Processing Fees | 0.5% of the loan amount + GST |
| Balance Transfer Fees | 0.5% of the loan amount + GST |
Tata Capital home loan balance transfer includes banking charges which are applicable when you avail a home loan with the lender. Below are the details:
| Charges | Amount |
| Foreclosure | No charges if paid with your funds Charges are applicable if paid through someone else’s funds. |
| Legal | On actual |
| Collection Agency | On actual |
| Delayed EMI Payments | 2% over the prevailing rate will be applicable for the period of delay. |
Check: Tata Capital Home Loan
To avail the Tata Capital Home Loan Balance Transfer, the age criteria must be:
| Salaried | Self-Employed/NRIs |
| Above 24 years and below 65 years of age | Below 65 years of age |
To avail the balance transfer loan, you’ll have the submit the below documents to process and extend the loan by Tata Capital:
| Documents Required | Salaried | Self-Employed |
| Age Proof | Passport/Driving Licence/Life Insurance Policy/PAN Card/Birth Certificate/School Leaving Certificate. | Passport/Life Insurance Policy/Driving Licence/Birth Certificate/PAN Card/School Leaving Certificate. |
| Identity Proof | Voter ID/Passport/Driving Licence/PAN Card. | Voter ID/Passport/Driving Licence/PAN Card/Aadhaar Card |
| Address Proof: | Utility Bill/Voter ID/Bank Statements/Property Registration Documents/Property Tax Receipt. | Copy of Utility Bill/Property Title Documents/Bank Statements/Property Tax Receipt/Voter ID. |
| Income Proof | Salary Slips for the last three months/Appointment Letter/Increment Letter/Form 16/Salary Account Bank Statements for the last six months. | Last three years’ Profit and Loss (P/L) Project Statement/Operative current account statement for the last 6 months/last six months bank statement of Credit Card or Overdraft facilities, if availed. |
| Existing Loans | Existing loan details through bank statements. | Any existing loan information along with the bank statement. |
| Processing Fee Cheque | Issued from your salary account. | Issued from your business account. |
| Proof of Business | -- | Last two years’ IT returns/your business profile in a letterhead/Registration certificate for business commencement. |
Below are the key features of the Tata Capital Home Loan Balance Transfer:
You can take up to 30 years to repay the Tata Capital home loan.
The maximum loan amount is Rs.5 crore, subject to a maximum of 80% of the property value.
Tata Capital’s repayment modes include Post-Dated Cheques (PDCs) or you can set up an Electronic Clearance Service (ECS).
Co-applicants can be your spouse, children, parents, siblings. Tata Capital considers the co-applicants' income to process your home loan.
If you’re a salaried individual, the home loan will be sanctioned within 4 to 5 business days, while if you’re a self-employed individual, it will take about 7 to 8 business days.
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