Home Loan Balance Transfer
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Home Loan Balance transfer
Are you worried about rising home loan interest rates? Are you looking for ways to reduce your existing home loan EMI? Or do you wish you had got a higher loan amount? All this is possible if you move your existing home loan to lower interest rates or get a higher loan amount.
By use of option Balance Transfer facility you can take advantage.
Thereby reducing your loan repayments and significantly increasing your savings.
A Home Loan Balance Transfer allows you to shift the outstanding Amount on your existing home loan to another lender. You can get a lower interest rate, a longer tenure or both. You could also get a higher loan amount, when you do a balance transfer.
This facility is also beneficial for individuals who purchased a home loan at higher interest but are now eligible for lower rates due to their improved credit profile.
Thus, our home loan balance transfer offers a lower interest rate or extended tenure that helps you reduce your overall interest cost. The extent of savings, however, depends on the outstanding loan amount, tenure, difference in interest rates.
You can take opportunity to save by switching your existing home loan a home loan transfer with a top-up facility can be used for various personal purposes.
Documents Required
- Pan Card & Adhar Card
– Applicant & Co-Applicant
- Address Proof
– If Own: Latest Light Bill & Index-II
– If Rental: Rent Agreement, Latest Gas Receipt, Passbook, Passport, HR Letter
- Latest 3 Month Salary Slip
- Latest 6 Month Bank Statement (By Salary A/C)
- All Loan Statement of Account (SOA)
– If All Bank Statement 1 Year
- Current Company Confirmation Letter
- If Increment Letter
- Company ID & Appointment Letter
- IF Previous Relieving Letter
- IF Education Proof
- Form No 16 Latest 2 Year with 26 AS
– Soft + Hard Copy Photo – 1+1 Applicant & Co-Applicant
– If Name Change: Applicant / Co-Applicant Marriage Certificate
- List Of Document Bank Letter Head
- Previous Sanction Letter
- Foreclosure Letter
- Property Paper Xerox
– If Rera Registration Certificate
- Agreement Copy
– Chain Agreement
- Completion Letter
– NA Order
- If Flat Possession Letter
- Building Plan Copy
– Latest Light Bill
- If Society Registration & Share Certificate
1. MSME or Udyam Certificate
2. Shop act Licence
3. GST Certificate (If applicable)
4. Business Profile (If available)
5. Current Business Photograph
6. ITR for the Last 3 Years with 26 AS (Income Tax Returns)
– AY – 21-22 (1 Apr 2020 to 31 Mar 2021) Financial Year
– AY – 22-23 (1 Apr 2021 to 31 Mar 2022) Financial Year
– AY – 23-24 (1 Apr 2022 to 31 Mar 2023) Financial Year
7. Financial Audit Report with CA Certification (If applicable)
8. Tentative Balance Sheet as of the latest date with CA Certification (If available)
9. GST R1/3B for the Last 1 Year
10. Work Order and Purchase Order (If applicable)
11. Bank Statement for the Last 1 Year
– Current Account
– Saving Account
– Cash Credit Account (If applicable)
12. All Loan Statement of Account (SOA)
13. Address Proof for Office, Shop, and Factory (If applicable)
– If Own: Latest Light Bill, Index-II, Latest Property Tax (For each property)
– If Rental: Registered Rent Agreement, Notary Agreement (For each property)
14. Current Account Statement for Address Proof