Home loan Balance Transfer
Back to Home Loans

Home Loan Balance Transfer

Our home loan balance transfer facility can be used to transfer your existing home loan at a lower interest, which will help reduce your current interest burden.

  • Features

  • Calculator

  • Documents

The maximum term of your home loan can be up to 30 years and it cannot extend beyond your retirement age or 60* years (whichever is earlier).

*60 years for salaried individuals and 70 years for self-employed individuals.

You can avail loan for a maximum amount of Rs. 5 Crore. You can transfer 100% of the principal outstanding amount including interest and other charges based on foreclosure statement.

Your home loan amount depends on your annual income and ability to repay the loan. You can increase your home loan amount by adding an earning co-applicant.

Calculate Your Eligibility Now

Your home loan interest rate starts from 8.35%* p.a. Know more about fees and charges (*T&C Apply)

You can pay your home loan EMIs through:

  • Electronic Clearing Service (ECS)/ National Automated Clearing House(NACH)- based on standing instructions, given to your bank
  • Post Dated Cheques (PDCs) - Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available.)

Your home loan makes you eligible for certain tax benefits* as per the prevailing laws. This means that you can save more money by claiming deductions in your income tax, against principal and interest amount repaid.

*As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is Rs. 2,00,000/- for the interest amount paid in the financial year and up to Rs. 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.

  • The offer of Rate of Interest (ROI) at 8.70%* p.a. is applicable only for Balance Transfer (BT) / BT + Top-up product for Salaried and Self Employed Professional (SEP) customers for loans up to Rs. 100 Lakh in Metro locations and up to Rs. 50 Lakh in Non-Metro locations
  • The offer of Rate of Interest (ROI) at 9.10%* p.a. is applicable only for Balance Transfer (BT) / BT + Top-up product for Self Employed Non-Professional (SENP) customers for loans up to Rs. 100 Lakh in Metro locations and up to Rs. 50 Lakh in Non-Metro locations
  • For BT + Top-up product with cases above Rs. 100 Lakh in Metro locations and above Rs. 50 Lakh in Non-Metro locations, 50% of the Top-up amount will be applicable at current Home Loan rate as per customer profile and eligibility
  • The current Home Loan policy will be applicable for Balance Transfer (BT) cases above Rs. 100 Lakh in Metro locations and above Rs. 50 Lakh in Non-Metro locations
  • This Offer is valid for Salaried, SEP and SENP customers for Balance Transfer (BT) / BT + Top-up product
  • Only for Balance Transfer (BT) / BT + Top up product Applications and files which are sanctioned. All other terms and conditions for giving out loans remain unchanged.
  • The loan tenure is subject to fulfilment of the minimum and maximum age requirement of the applicant/ co-applicant as per DHFL Policy.
  • Customers are required to submit relevant credit-related documents which include PAN card, address proof, income proofs, bank statements, tax returns and any other valid documents as required by DHFL.
  • Disbursement of the sanctioned loan amount is subject to the legal & technical clearance of the property in subject as per the DHFL policy
  • All DHFL general Terms & Conditions Credit, Legal and Technical) are applicable to Home Loan
  • If a Loan application is rejected based on internal criteria, the decision of DHFL will be final and no dispute in the matter will be entertained and the processing fees paid shall not be refunded.
  • All disputes arising out of or related to this offer shall be subject to the exclusive jurisdiction of courts at Mumbai and subject to the laws of India.
  • DHFL at its sole discretion reserves the right to modify the terms and conditions relating to Home Loan from time to time and/or suspend, shorten, modify, extend or cancel this Scheme/offer without prior notice, without stating any reason and no claim in this regard shall be entertained.
  • DHFL at its sole discretion reserves the right to modify the terms and conditions relating to Home Loan from time to time and/or suspend, shorten, modify, extend or cancel this Scheme/offer without prior notice, without stating any reason and no claim in this regard shall be entertained.
  • What is an EMI?

    EMI (Equated Monthly Installment) is the amount payable to the lending institution every month, till the loan is completely paid off. It comprises of the interest as well as the principal amount.

  • Who can be an applicant?

    To qualify for a home loan with DHFL, you must be:

    • An Indian resident or Non Resident Indian (NRI)
    • Above 21 years of age at the beginning of the loan
    • Below 65 years of age, when the loan matures
    • Either salaried or self-employed (businessman or professional)
  • What are the interest rates offered for home loans? What are daily reducing, monthly reducing and yearly reducing balance?

    Interest rates vary according to the market conditions and are dynamic in nature. The interest on home loans in India is usually calculated either on monthly reducing or yearly reducing balance. In some cases, daily reducing basis is also adopted.

    • Annual Reducing: The principal amount, for which you pay interest, reduces at the end of the year. Thus, you continue to pay interest on a certain portion of the principal which you have actually paid back to the lender. The EMI for the monthly reducing system is effectively less than the annual reducing system.
    • Monthly Reducing: The principal amount, for which you pay interest, reduces every month as you pay your EMI.
    • Daily Reducing: The principal, for which you pay interest, reduces from the day you pay your EMI. The installments that you pay in the daily reducing system is less than the monthly reducing system

    DHFL calculates EMI on monthly reducing basis only.

  • Are securities required for home loans?

    The property to be purchased itself becomes the security and is mortgaged to the lending institution till the entire loan is repaid. Sometimes additional security such as life insurance policies, FD receipts and share or savings certificates are required.

  • What are the tax benefits of home loans?

    Resident Indians are eligible for certain tax benefits on principal and interest components of a home loan. As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is Rs. 2,00,000/- for the interest amount paid in the financial year and up to Rs. 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.

    Click here to read more

  • Home Loan EMI Calculator

  • Home Loan Eligibility Calculator

Loan Amount
1 Lakh
5 Crore

I authorise DHFL and its representative to call me or SMS me with reference to this enquiry.

Loan Amount
1 Lakh
5 Crore
Calculate EMI
Hi ! Your Loan EMI will be

15,000

p.m.
Loan Amount
1 Lakh
5 Crore
Loan Tenure
1 Year
30 Years
Interest Rate
1%
15%
Apply Online What’s Your Eligibility
Hi Ankit ! EMI you need to pay is

15,000 p.m.

Loan Amount1,55,000
Loan Tenure20 years
Rate of Interest8.05 %
Monthly Income
10,000
10 Lakh

I authorise DHFL and its representative to call me or SMS me with reference to this enquiry.

Hi ! Your Monthly Income is
10,000
10 Lakh
Hi ! Your Loan Eligibility will be

15,000

EMI 12,000p.m.
Monthly Income
10,000
10 Lakh
Loan Tenure
1 Year
30 Years
Interest Rate
1%
15%
Apply Online
Hi ! You are eligible for loan amount of

25,000

EMI 12,000 p.m.
Monthly Income15,000
Loan Tenure 20 years
Rate of Interest 8.05 %

ID & Address proof (any one required)

  • Aadhaar card
  • PAN card (Mandatory, if income is considered for loan eligibility calculation)
  • Valid Passport
  • Voter ID card
  • Driving license
  • Aadhar Card

Driving license

  • Utility Bill: Electricity, Telephone, Postpaid mobile, water bill etc.
  • Ration card
  • Letter from employer
  • Bank statement /copy of Pass book reflecting address
  • Valid Rent Agreement
  • Sale Deed

*National Housing Bank (NHB) had introduced Know Your Customer (KYC) guidelines for housing finance companies. We request you to co-operate with us in complying with these guidelines. – The aforesaid sentence need to reframed with the help of concerned Dept. For eg instead of “Introduced” you can specify as NHB had set guidelines etc.

Salaried individuals

  • Salary slips for the last 2 months or salary certificate*
  • Cash Salary – Income details on Company Letterhead (Salary upto Rs.30, 000 p.m.)
  • Copy of bank statements for the past 3 months (salary account)

*If variable components like over time and incentives are reflected, then salary slips for the past 6 months are required.

Self-employed professional

  • Certificate of qualification for professionals : CA, Doctors or Architects
  • Copy of last two years’ income tax returns, along with computation of income
  • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable.
  • VAT or Service Tax returns or TDS Certificate
  • Bank statement for the last 6 months (Savings account, current account and O/D account)

Self-employed Non Professionals

  • Copy of your last two years’ income tax returns, along with computation of income
  • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable
  • VAT or Service Tax returns or TDS Certificate
  • Bank statement for the last 6 months (Savings account, current account or an O/D account)
  • Allotment letter from builder
  • Agreement of Sale
  • Registration and stamp duty receipt
  • Index- ii
  • NOC from builder
  • Own Contribution Receipt (OCR )
  • All builder linked documents (Applicable for cases which are not approved or previously not funded by DHFL)
  • Development Agreement
  • Tripartite Agreement
  • Partnership Deed
  • Sale Deed
  • Title Search Report
  • NA order

Note: Original documents are required for verification purpose only

Customer Stories

DHFL Home Loan Balance Transfer

 

Availing a home loan and repaying it back requires you to plan your finances well ahead of time. While doing so, you also needs to calculate and ascertain how much interest and principal you are paying throughout your tenure. This is highly recommended by all financial experts and home loan providers. Furthermore, all efforts should be taken to avoid financial burdens and unwelcome expenditures, so as to save your valuable money for yourself and your family.

At DHFL, we offer a lower interest rate home loan transfer, keeping in mind the need to financially unburden our customers. DHFL’s home loan balance transfer scheme can help reduce your EMI, so that your outgoing cash flow doesn’t affect your upcoming lifestyle expenses. If you happen to have a home loan from another financial body and wish to reduce your capital outflow, we suggest you transfer your home loan to us and enjoy better benefits than before.

Not just this, DHFL also offers its customers, a top-up loan over and above the balance you transfer, to further ease to your financial worries.