Balance Loan Transfer From Elsewhere

Balance Transfer

Transfer your loan from elsewhere and benefit from better interest rates.

 

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Key Features

Applicable for all categories of customers

Only approved financial institutions

Top Up loan facility which is over and above your original loan

Legal and technical verification to be done

Attractive rate of interest

Rate Range for Floating Rate Loans:

Home Loan Balance Transfer - Salaried 6.75% to 7.25%
Home Loan Balance Transfer -Self Employed 7.00% to 7.75%
Last updated on 14th July 20211

*Quoted interest rates are as per company pricing policy, the actual rates may vary depending on the credit/Risk profiling and LTV of the customer.

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Balance Transfer

Buying a home can be quite tempting initially. And later on, the interest on your loan could be a burden for you. Now with Balance Transfer from L&T Housing Finance, home buyers can transfer your existing loan from any other financial institution to help you save on interest expenses. What’s more, you could also take a Top Up Loan or an additional loan to help with your other expenses

 

Eligibility Criteria

 

Minimum repayment track record of 12 months

 

Age : 23 years and upto 62 years on loan maturity

 

Balance transfer from only approved financial institutions

 

Applicable for residential properties only

 

Title document  ownership should remain with the applicant

 

Documentation

 

Documents Home Buyers
Customer Undertaking To submit original docs to LTHF within 20 days from date of disbursement
Letter of Authority Customer authorizing LTHF representative to collect original title docs & mortgage release letter on his behalf from previous Bank/HFC
Irrevocable POA Required from customer in favor of LTHF empanelled lawyer. POA to be executed on stamp paper of requisite value and should be duly notarized from a notary public

Balance transfer cheque will be handed over to the approved financier Over the Counter (OTC). Customer indemnity will be taken in lieu of the list of documents from the financier

 

Photocopies of the property papers will be collected from the customer along with the indemnity

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Home Loan EMI Calculator

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Documents & Forms

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