A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • L&T Finance Home Loan Balance Transfer

    The L&T Finance Balance Transfer facility is a facility that allows borrowers to move their existing loan from one financial institution or bank to L&T Housing Finance. The facility also allows a Top Up loan which is provided additionally, along with your existing loan.

    By switching your home loan to L&T Finance at a better rate, you will have the following advantages:

    • Save a little more with the new loan scheme provided at a better rate.
    • Lower your EMIs, thereby lowering your overall loan repayments.
    • By availing lower interest rate than your previous loan plan, you can reduce the financial burden with the loan transfer option.
    • Customized repayment options and top ups also allow you to further make choices according to your requirements.

    Features and Benefits of L&T Finance Balance Transfer

    • L&T Finance Balance Transfer offers an attractive rate of interest enabling you to choose it over your existing home loan.
    • It also offers a Top Up loan over and above your loan to meet your other financial requirements.
    • The process of applying for a loan balance transfer from the present home loan plan to L&T Finance Balance Transfer, is non-complex and hassle free.
    • Loan transfer will only be allowed from approved financial lenders.
    • The facility can be availed by all categories of customers.
    • Approved lenders do not require a list of documents and the balance transfer cheque is handed over the lender over the counter after receiving the property documents. Identity proof is required in this case along with the copies of property papers.
    • Loan Security: Equitable mortgage by deposit of title deed is considered as security. LTHF may require you to provide an additional security in the form of Life Insurance policies or NSC.


    The customer should fulfil the following eligibility criteria to be able to apply for the L&T Finance Balance Transfer:

    • Applicant should have a repayment record of a minimum of 12 months.
    • The balance transfer is available only for residential properties.
    • Home Balance transfer can only be availed from approved banks/institutions.
    • Applicant should have the title document ownership.
    • Applicant must furnish the original documents to LTHF in a period of 20 days from the day of disbursement.
    • A letter of authority should be provided by the customer that authorizes a LTHF representative, who will contact the previous bank to obtain the original title documents and release letter of mortgage.
    • A POA from the applicant, which is irrevocable and in favour of an empanelled lawyer at LTHF. The POA should be on a stamp paper and be notarized.

    Documents Required:

    • Duly filled application form with a photograph of the applicant with signatures of applicants and co-applicants.
    • Age proof such as PAN card, Passport, Driving License, SSC/HSC Mark sheet or any other.
    • ID proof such as Passport, letter from the present bank, any government issued ID etc.
    • Address proof such as Election card, Electricity bill, Mobile bill or passbook of any scheduled bank or any such proof.
    • For applicants who are less than 23 years of age, a job confirmation proof.
    • Income proof:

    Salaried with fixed income – Previous month’s pay slip or salary certificate along with deductions or ITR or Form 16.

    Salaried with variable income – Previous four months’ salary or salary certificate with variable components or the latest ITR or Form 16.

    • In case where income is taken as eligibility, passbook copy or bank statement of the applicant from recent six months.
    • A login fee cheque is required to be payable by the applicant from his or her salary account or operating account.

    Fees and Charges:

    The following charges are levied by LTHF for various purposes:

    Fee Description Fee Amount
    Login Fee Rs.4999 (Non-refundable and exclusive of GST)
    Loan Processing Up to 2% (Plus GST)
    Penalty 3% per month on overdue installment
    Bounce fee Rs.1000
    Partial pre-payment fee
    • Payment with own funds – No charge
    • Payment from other sources:
      • Below one year from disbursement – 3% of outstanding principal amount.
      • Above one year from disbursement – 2% of outstanding principal amount.
    Foreclosure fee
    • On floating interest rate – No charges applicable.
    • Fixed interest, sources other than own:
      • Below one year from disbursement – 3% of outstanding principal amount.
      • Above one year from disbursement – 2% of outstanding principal amount.
    Document list Rs.300
    Document photocopies Rs.500
    Interest rate conversion fee Rs.5000

    LTHF charges actuals for legal recovery charges, other than those part of SARFAESI.

    Charges under SARFAESI Act 2002 (Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest)

    • Possession notice – Rs.2000
    • Physical possession – Rs.10,000
    • Loan recall notice – Rs.500
    • Demand notice – Rs.1000
    • District Magistrate Order application – Rs.8,000

    Repayment Options:

    LTHF offers various repayment options to its customers, they are:

    EMI (Tranche Based)

    • Applicants who have bought a property under construction or have invested in a loan for self-construction, are require to pay an interest on the amount lent based on the construction level, until the property is fully constructed.
    • The installment is started on an agreed interest rate with the lender. Usually, 18 months is the cut off period for construction, post which the company will make a decision on the disbursal of Tranches.
    • After final disbursement of loan, the customer will have to start paying EMIs as mentioned in the sanction letter.

    Part Prepayment Scheme:

    • This scheme offers customers an opportunity to make a faster loan repayment by either decreasing the outstanding principal amount or increasing the installment.
    • In case there is an increase in your disposable income, you can use that lump sum amount for loan repayment in part and benefit by increasing your EMI and saving on your interest.

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    L&T Finance Home Loan Transfer Reviews

    • L&T Housing Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I have been taken a home loan in L&T FINANCE LIMITED for the past 2 to 3 months. The loan amount was sufficient as per my expectation for the duration of 30 years. The rate of interest is nominal.The customer service is good and responsiveness on time.
      Was this review helpful? 1
      , pune
      Reviewed on May 17, 2019
    • L&T Housing
      L&T Housing Home Loan
      "Process is good"
      0.5 5.0/5 "Blown Away!"
      I work for L&T and I had taken a home loan earlier from L&T finance Limited. The process was smooth and without much of formalities and I got the loan within ten days. They need to improve on the interest rate and charges. When the rates drop, the housing board companies to not reduce the same.
      Was this review helpful? 5
      , delhi
      Reviewed on Aug 09, 2017
    • L&T Housing Home Loan
      "Satisfactory service"
      0.5 5.0/5 "Blown Away!"
      I got personal loan with L& T finance company around past 2 years ago and I have also closed it as well. I am happy with the loan amount with L& T finance. But I have faced some problems with the ECS mode payments, after that I have done cash payment in person with L& T finance company. They gave me the justification for the error so overall, it was a satisfactory service.
      Was this review helpful? 3
      , mumbai
      Reviewed on May 03, 2017
    • L&T Housing Home Loan
      0.5 4.0/5 "Great!"
      Services and the interest rate are the major aspects with the L&T finance, which made me to transfer the loan from there. Rate of interest was huge with the L&T finance and I got the loan amount from them in two months of time.
      Was this review helpful? 1
      , bangalore
      Reviewed on Apr 10, 2017
    • L&T Housing Home Loan
      "Should give proactive response and clear documentatio update"
      0.5 3.0/5 "Satisfactory"
      Last year I had taken the housing loan in L & T Finance limited, they offered the best interest of 9.6% but I am not happy with their process. They had made a lot of follow ups to approve my home loan and they were not clear in documentation part, they were asking for a lot of documents from my end, but it was very inconvenient for me to arrange those documents immediately, finally they disbursed the amount in two shots as per project, recently I switch over to PNB housing there I got least interest compared when compared with L & T finance.
      Was this review helpful? 0
      , pune
      Reviewed on Mar 15, 2017
    • L&T Housing Home Loan
      "Easy process "
      0.5 5.0/5 "Blown Away!"
      I am a happy home loan seeker, as I was able to the loan with ease from LNT housing finance. The turn around time taken to process my loan was hardly a weekâ??s time. They had provided a loan amount of 17 lakhs. I got the property documents on time. In a nutshell, I am very much happy with their service.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 01, 2016
    • L&T Housing Home Loan
      "Not proactive enough "
      0.5 3.0/5 "Satisfactory"
      With L&T Finance, I have availed a home loan in 2012 for a rate of interest of 11% on floating basis for a tenure of 20 years. I had chosen them when my friends recommended and did not consider checking or comparing with other bank offers at the time. They had waived my processing fee off and it was a resale property so the documentation had to be done fresh. Therefore it took 45 days. They should be proactive and update the customer constantly.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 21, 2016
    • L&T Housing Home Loan
      "Delayed disbursal!"
      0.5 3.0/5 "Satisfactory"
      Initially the executive who interacted with me explained the process clearly. Though I applied for the loan in the month of December, L&T executives disbursed the home loan in the month of February. As it took more than 2 month, I would suggest them to speed up the process in providing home loans.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 03, 2016
    • L&T Housing Home Loan
      "Happy in taking loan.."
      0.5 5.0/5 "Blown Away!"
      L&T housing finance has delivered the home loan so very happy about that. If I say about the rate, I am happy as they gave 9.65%. I felt the service charge that collected was more for the home loan where I paid around five thousand but I have not compared with others.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jan 26, 2016
    • L&T Housing Home Loan
      "Good "
      0.5 4.0/5 "Great!"
      I have closed my housing loan with the L&T finance because of the rate of interest is too high which is around 11.25%. They have asked around 1% as the processing charges to transfer the loan. The services are very good like they used to do all things on time.
      Was this review helpful? 1
      , mumbai
      Reviewed on Sep 12, 2015
    • L&T Housing Home Loan
      0.5 5.0/5 "Blown Away!"
      From L&T I availed my home loan . Till now they process was very fast and quick. The executives are very coperative. The cordination was good over the phone and the email. Documentation part was minimum. Interest rate and processing fee still expecting for something lower. I am happy with the response of their executive , they were very humble.
      Was this review helpful? 1
      , pune
      Reviewed on Aug 28, 2015
    • L&T Housing Home Loan
      "Much appreciable"
      0.5 5.0/5 "Blown Away!"
      I am really happy with the service offered by LNT Housing finance. They are basically very friendly they were providing all the information to the customer. I would certainly recommend this to others mainly because of their Representatives. As they have gone out of their way to help me. Its mainly because of them I had got some discounts on the interest rate they have spoken with their Manager and they have done the needful for
      Was this review helpful? 2
      , gurgaon
      Reviewed on Aug 18, 2015
    • L&T Housing Home Loan
      "Average "
      0.5 4.0/5 "Great!"
      The loan process was really smooth with L&T while I got the home loan and they processed the sanction letter within 3days of the application been submitted.The customer service provided was really good and I got immediate call with response from them.They offered a interest rate of 10% as floating rate for the loan.
      Was this review helpful? 1
      , pune
      Reviewed on Jul 10, 2015
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