A loan for all your goals

Features and benefits of our loan against property balance transfer

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All you need to know about our loan against property balance transfer

Watch this video to know everything about our loan against property balance transfer: Features and benefits, fees and charges, eligibility criteria, and more.

  • Low interest rates

    Low interest rates

    Transfer your current loan against property to us and get an attractive interest rate starting from 9% to 14% (Floating rate of Interest) p.a.

  • Top-up loan

    Top-up loan of up to Rs. 10.50 Crore*

    By transferring your existing loan against property to us, you can be eligible to get a top-up loan of up to Rs. 10.50 Crore*

  • Speedy approval

    Speedy approval

    Get a quick approval on your loan application soon after your document verification.

  • Tenure

    Tenure of up to 15 years*

    Manage your loan easily with convenient repayment tenure of up to 15 years*.

  • Multiple end-use options

    Multiple end-use options

    Use the loan amount to meet your financial requirements like wedding expenses, medical emergencies, home renovation costs, and more.

  • No foreclosure charges*

    No foreclosure charges*

    As an individual borrower with a floating rate of interest, you can make a part prepayment or foreclose the loan without an additional charge.

  • Externally benchmarked interest rates

    Externally benchmarked interest rates

    You can opt for an interest rate which is linked to an external benchmark, such as the Repo Rate, and benefit from a transparent interest rate process and favourable market conditions.

  • *Terms and conditions apply.

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EMI Calculator

Loan against property EMI calculator

Enter a few details and check your loan against property EMIs.

Eligibility criteria and documents required

Anyone can apply for our loan against property balance transfer as long as they meet the criteria mentioned below.

Eligibility criteria

  • Nationality: You must be an Indian citizen residing in India with property in a city we operate in.
  • Age: The minimum age of the applicant must be 25 years* (18 years for non-financial property owners)
    * Age at the loan application of the individual applicant/ Co-applicant.
    The maximum age of the applicant must be 70 years* (80 years for non-financial property owners)
    * Age at the loan maturity of the individual applicant/ Co-applicant.
  • CIBIL Score: A CIBIL Score of 700 or higher is ideal to get an approved loan against property balance transfer.
  • Occupation: Salaried, self-employed professionals like doctors, and self-employed non-professionals are eligible to apply.

Documents required:

  • Proof of identity/ residence
  • Proof of income
  • Property-related documents
  • 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.

Eligibility Calculator

Check your loan against property balance transfer eligibility

Find out how much loan amount you can get.

How to apply for a loan against property balance transfer

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Step-by-step guide to apply for our loan against property balance transfer

  1. Click on the 'APPLY' button on this page.
  2. Enter your pin code and click Proceed.
  3. Provide your basic details like your full name and mobile number.
  4. Now select the type of loan that you wish to apply for, your net monthly income, your area pin code, and the required loan amount.
  5. Generate and submit your OTP to verify your phone number.
  6. Enter further details like your property location, your current EMI amount/ monthly obligation, and your PAN.
  7. Click on the ‘SUBMIT’ button.

That is it! Your balance transfer request is submitted. Our representative will connect with you and 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 (p.a.)

Salaried

Self-employed

Doctors

9% to 14% (Floating rate of Interest)

9% to 14% (Floating rate of Interest)

9% to 14% (Floating rate of Interest)

Processing fees

Up to 3.54% of the loan amount (inclusive of applicable taxes)

Document Processing Charges

Up to Rs. 2,360/- (inclusive of applicable taxes)
Flexi Fee Term Loan - Not applicable
Flexi Variant - Not applicable

Pre-payment Charges
  • Full Pre-payment
    Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment.
    Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
    Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

  • Part Pre-payment
    Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part Pre-Payment.
    Not Applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi

    Foreclosure charges/ pre-payment penalties are not applicable on any floating rate term loan sanctioned, for purposes other than business, to individual borrowers with or without co-applicant(s).

Annual Maintenance Charges

Term Loan: Not Applicable

Flexi Term Loan (Flexi Dropline): Not applicable

Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the Total Withdrawable Amount during Initial Loan Tenure. Not applicable for subsequent Loan Tenure.

Bounce Charges

Rs. 1500 per bounce

Penal Interest

Any delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment outstanding, from the date of default until the receipt of monthly instalment.
Stamp Duty Payable as per state laws and deducted upfront from the loan amount
Mandate Rejection Charges Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered
Broken Period Interest/ Pre-EMI Interest

"Broken Period Interest/ Pre-EMI Interest" shall mean the amount of interest on loan for the number of day(s) which is(are):

Scenario 1: Over and above the period of 30 (thirty) days from the date of disbursement of the loan

Method of recovery of Broken Period Interest/ Pre-EMI Interest:
For Term Loan: Deduct from disbursement
For Flexi Term Loan: Added to first instalment amount
For Hybrid Flexi Loan: Added to first instalment amount

Scenario 2: Less than period of 30 (thirty) days from the date of disbursement of the loan, Interest on first instalment will be charged for actual number of days
Mortgage Origination Fees Rs. 3000/-
Property Insight (if availed)
 Rs. 6999/- (inclusive of applicable taxes)

Frequently asked questions

Who can apply for a loan against property balance transfer?

Anyone with an existing loan against property can apply for a balance transfer with us. Choose us for low interest rates, top-up loan up to Rs. 10.50 Crore*, and convenient repayment tenure.

Your age, employment status, and city of residence are some of the key standards that you should meet for loan approval.

Who is eligible for a loan against property balance transfer?

If you are an Indian citizen, residing in India, between the age group of 25 years to 70 years, or a 25 years* to 70 years* old self-employed Indian, then you are eligible.

*Terms and conditions apply

What is the maximum repayment tenure for a loan against property balance transfer?

You can repay the total sum borrowed over a convenient repayment tenure of up to 15 years*.

Why should I opt for a loan against property balance transfer?

You are advised to opt for a balance transfer for loan against property when your current loan against property terms are no longer feasible to you. By transferring your loan against property balance to a us, you can be eligible for more affordable interest rates, top-up loan, and also enjoy privileges to revisit your repayment tenure, and more.

What are the usual documents required for a loan against property balance transfer?

When applying for a loan against property balance transfer, you will need a few of the following documents along with the term documents from previous lender:

  • Proof of identity/ residence
  • Proof of income
  • Property-related documents
  • Proof of business (for self-employed applicants), and
  • Account statements for the last 6 months

These documents will help us verify your profile, the property you have mortgaged, and the loan terms.

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