Understanding Insta Home Loan
Our existing customers can avail of the Insta Home Loan offer that comes with a pre-assigned limit based on eligibility. Upon opting for the balance transfer facility, you automatically qualify for the Insta Home Loan and the additional benefits like the top-up loan.
Attractive top-up offers
In addition to benefits like minimal documentation, quick approval, and a 100% online process, you can avail of top-up offers up to Rs. 10 lakh for your urgent financial needs.
Features and benefits of our Insta Home Loan
Pre-approved offer
Our existing customers get a pre-approved offer when they refinance their home loan with us.
Easy online process
Our process is 100% online. That means you don’t need to visit the branch for any documentation work.
Convenient tenure
Repay the loan over a long tenure of 25 years and manage the loan comfortably.
Foreclosure facility
Individual borrowers with a floating rate of interest can foreclose the loan without paying an additional fee.
Minimal documentation
With our minimal documentation process, the process of availing Insta Home Loan becomes even easier.
Online account management
You can check your loan status, and EMI schedule, and download your statement of account, and other documents on our customer portal - My Account.
*Terms and conditions apply
Eligibility criteria and documents required
If you are an existing customer, you are eligible for our Insta Home Loan as long as you meet the criteria mentioned below.
- Nationality:
You must be an Indian citizen residing in India with property in a city we operate in.
- Age:
A salaried/ professional applicant must be between 23 years to 67 years, and a self-employed professional must be between 23 years to 70 years.
*The upper age limit is considered as the age at the time of loan maturity.
- CIBIL Score:
A CIBIL Score of 725 or higher is ideal to get your home loan balance transfer approved.
- Occupation:
Salaried, self-employed professionals like doctors and self-employed non-professionals are eligible to apply.
- Documents required:
- KYC documents (identity and address proof)
- Proof of income (salary slips or P&L statement)
- Proof of business (for self-employed applicants), and
- Account statements for the last 6 months
Note: This is an indicative list that may change based on your actual loan application.
Step-by-step guide to applying for a home loan balance transfer
- Click on the 'APPLY' button on this page.
- Enter your full name, mobile number, your employment type, and the type of loan you wish to apply for.
- Generate and submit your OTP to verify your phone number.
- Next, choose your current home loan lender from the drop-down and enter your monthly salary and the loan amount required.
- In the next step, enter additional details like your DOB, PAN number, email Id, current EMI amount and other details.
- Finally, click on the ‘SUBMIT’ button.
That is it! Your application is submitted. Our representative will connect with you to guide you through the next steps.
Applicable fees and charges
We advise you to read about our fees and charges thoroughly before applying.
| Type of fee | Applicable charges | ||
| Rate of interest | Salaried | Self-employed | Doctors |
| 8.25%* to 17.00%* p.a. | 8.50%* to 17.00%* p.a. | 8.30%* to 17.00%* p.a. | |
| Processing fees | Up to 4% of the loan amount | ||
| Bounce charges | For loan amounts up to Rs. 15 lakhs: Rs. 500 For loan amounts from Rs. 15,00,001 to Rs. 30,00,000: Rs. 1,000 For loan amounts from Rs. 30,00,001 to Rs. 50,00,000: Rs. 1,500 For loan amounts from Rs. 50,00,001 to Rs. 1,00,00,000: Rs. 2,000 For loan amounts from Rs. 1,00,00,001 to Rs. 5,00,00,000: Rs. 3,000 For loan amounts from Rs. 5,00,00,001 to Rs. 10,00,00,000: Rs. 5,000 For loan amounts more than Rs. 10 crores: Rs. 10,000 |
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| Penal charge | Click here to know about the penal charges. | ||
| Interest and Principal Statement Charges | NIL | ||
| Part-prepayment charges** | (1) For individual and non-individual borrowers with floating interest rate loans for non-business purposes:
(2) For individual and non-individual borrowers with floating interest rate loans for business purposes and all borrowers with fixed interest rate** loans:
*GST as applicable will be payable by the borrower in addition to the prepayment charges, if any. **Nil for home loans closed by borrowers out of their own sources. Own sources refer to any source, other than borrowing from a bank/NBFC/HFC and/or a financial institution. Note: In the case of dual-rate home loans (fixed for the initial period and then floating), the foreclosure/part-prepayment charges will be applicable as per the status of the loan as on the foreclosure/part-prepayment date. |
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| Foreclosure Charges | (1) For individual and non-individual borrowers with floating interest rate loans for non-business purposes:
(2) For individual and non-individual borrowers with floating interest rate loans for business purposes and all borrowers with fixed interest rate** loans:
*GST as applicable will be payable by the borrower in addition to the prepayment charges, if any. **Nil for home loans closed by borrowers out of their own sources. Own sources refer to any source, other than borrowing from a bank/NBFC/HFC and/or a financial institution. Note: In the case of dual-rate home loans (fixed for the initial period and then floating), the foreclosure/part-prepayment charges will be applicable as per the status of the loan as on the foreclosure/part-prepayment date. |
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