Home Loan Balance Transfer
Yash Housing Finance
- Online Home Loan Balance Transfer of up to ₹ 5 Crore*
- Instant Provisional Sanction
- Digital Application Process
- Minimal Documentation
Home Loan Balance Transfer
You can transfer your home loan balance to another bank through the home loan balance transfer process. It's a good thing for people who are having trouble keeping up with their home loans' high interest rates. Our method for transferring a home loan balance is straightforward. It has lower monthly payments and a low interest rate, alleviating a significant financial burden so you can spend quality time with your loved ones without having to worry at all. Now is the time to transfer your home loan.
Features and Benefits of a Home Loan
Attractive Interest Rates
.
Minimum Documentation
.
Lowest Processing Fees
.
Maximum Year Tenure
.
Calculate Your Monthly EMIs
Information About Home Loan
Home Loan Transfer Benefits
At Yash Housing Finance, transferring a home loan balance is a simple and straightforward process. It was made specifically to make it easy for you to transfer the amount of your outstanding loan from your current lender. Numerous advantages accompany our home loan transfer. Let’s investigate them:
Easy Approval
You can get approved quickly with the home loan balance transfer offered by Yash Housing Finance.
Lower Interest Rate
The home loan balance transfer offered by Yash Housing Finance has a lower interest rate.
Ownership Type
With our home loan balance transfer, select an installment plan that best suits your needs.
Direct Settlement
You can pay Yash Housing Finance directly in the future by transferring the balance of your home loan.
Home Loan Balance Transfer and Top-Up Loan
You can now easily meet your other financial obligations with a home loan increase.
Eligibility Criteria for Home Loan Balance Transfer
A person who wants to transfer the balance of a home loan must meet some eligibility requirements. Age, monthly income, and other factors make up these criteria. This is further divided according to the applicant’s type. Let’s examine the homeloan transfer eligibility requirements:
Age:
- A salaried applicant is between the ages of 18 and 60.
- A self-employed professional must be between 18 and 65 years old.
Income:
- For residents of Delhi, Bangalore, Mumbai, Pune, and Chennai a minimum income of Rs. 20,000/month
- A minimum income of Rs. 15,000/month for residents of other cities
- A bachelor’s degree is required for applicants working for a partnership or private limited company.
- A public sector, government, multinational corporation, or public limited company does not require a minimum qualification.
Documents required to apply for a Home Loan
Here are mandatory documents required for home loan such as a proof of identity, a proof of address, a loan application form that has been duly filled and your financial documents. Below is the detailed list of documents required for home loan:
- Submit your Aadhaar card, passport or driving licence for KYC
- For address proof, your utility bills, or rent agreement with your current address works fine
- *For income proof, ICICI Bank needs your salary slips, income tax returns or Form 16
- Submit the title deeds of the property and construction approvals
- **Prove your financial stability by submitting bank statements for the last 6 months
- Provide your job offer or appointment letter for a stress-free experience
- If applicable, submit your co-applicants’ documents for joint loan applications.
What is a Home Loan Balance Transfer?
Transferring your current home loan to a new lender is known as a home loan balance transfer. Better terms, such a lower interest rate or a longer repayment time, might emerge from this, possibly at the expense of a larger loan amount.
How does a transfer of home loan balance operate?
- The new lender pays off your current mortgage.
- All outstanding payments have been settled with your former lender.
- The new lender formally receives ownership of your home loan.
- you start making EMI payments to new lender.
When should you do a Home Loan transfer?
When interest rates are favorable, it is prudent to transfer the outstanding balance of your current Home Loan to Axis Bank. This is especially true if you have a floating-rate loan, where lower rates can significantly reduce your financial burden. A strategic transfer like this is worthwhile, particularly if it results in a more appealing interest rate, lowering the total amount of interest paid over the course of the loan.
Your Home Loan’s remaining balance could be transferred if your eligibility is improved. This happens when your credit score or financial situation get better, and you can get loans with better terms. A Home Loan Balance Transfer process can result in a number of advantages, including a lower interest rate and the possibility of a longer repayment term.
However, it is essential to take into consideration any fees that may be associated with the Home Loan Balance Transfer. The potential savings from the transfer should outweigh these. Axis Bank also lets you top up your transferred Home Loan, which gives you more money that you can use for a variety of personal financial needs.
Eligibility criteria for Home Loan transfer
- Occupation: This position is open to professionals such as doctors, engineers, and accountants who are paid by the government or private sector.
- Self-employment: This applies to individuals who work for themselves and file income tax returns.
- Residency:- Indian residents
- Requirement for age: – For salaried employees, one should be between 21 and 60 years old; 21 to 65 for those who work for themselves
- The term of the loan can be extended or decreased in accordance with Axis Bank policy.
- Loan amount: – Minimum of ₹3 lakh, with the maximum contingent on repayment capacity
- Exceptional clients: – For additional benefits, clients should talk to their relationship manager.
Documents required for Home Loan Balance Transfer
- Documents for KYC: a current photograph, proof of address, and valid government-issued identification
- Financial records: Bank statements, tax returns, and most recent salary statements
- Other records: documents regarding the property, information about the current Home Loan, and a history of repayment
Let’s talk with experience advisors.
CALL FOR ADVICE NOW!
Frequently asked questions
Why is life insurance worth it?
There are many answers to the question of why is life insurance important. But by and large, the most important one is ensuring your family’s financial security and peace of mind. If anyone depends on your income, they would most likely struggle if you were to pass away. That’s why life insurance is so important to have. There are different types of life insurance policies, but essentially they all pay cash to your loved ones when you die. Money from life insurance can be used to cover daily living expenses, a mortgage or rent payments, outstanding loans, college tuition and other essential expenses.
What are the different types of life insurance?
There are many answers to the question of why is life insurance important. But by and large, the most important one is ensuring your family’s financial security and peace of mind. If anyone depends on your income, they would most likely struggle if you were to pass away. That’s why life insurance is so important to have. There are different types of life insurance policies, but essentially they all pay cash to your loved ones when you die. Money from life insurance can be used to cover daily living expenses, a mortgage or rent payments, outstanding loans, college tuition and other essential expenses.
Who can be a life insurance beneficiary?
There are many answers to the question of why is life insurance important. But by and large, the most important one is ensuring your family’s financial security and peace of mind. If anyone depends on your income, they would most likely struggle if you were to pass away. That’s why life insurance is so important to have. There are different types of life insurance policies, but essentially they all pay cash to your loved ones when you die. Money from life insurance can be used to cover daily living expenses, a mortgage or rent payments, outstanding loans, college tuition and other essential expenses.
What is the process for getting life insurance?
There are many answers to the question of why is life insurance important. But by and large, the most important one is ensuring your family’s financial security and peace of mind. If anyone depends on your income, they would most likely struggle if you were to pass away. That’s why life insurance is so important to have. There are different types of life insurance policies, but essentially they all pay cash to your loved ones when you die. Money from life insurance can be used to cover daily living expenses, a mortgage or rent payments, outstanding loans, college tuition and other essential expenses.
Can life insurance be affordable on a tight budget?
There are many answers to the question of why is life insurance important. But by and large, the most important one is ensuring your family’s financial security and peace of mind. If anyone depends on your income, they would most likely struggle if you were to pass away. That’s why life insurance is so important to have. There are different types of life insurance policies, but essentially they all pay cash to your loved ones when you die. Money from life insurance can be used to cover daily living expenses, a mortgage or rent payments, outstanding loans, college tuition and other essential expenses.
How long do services take to complete?
There are many answers to the question of why is life insurance important. But by and large, the most important one is ensuring your family’s financial security and peace of mind. If anyone depends on your income, they would most likely struggle if you were to pass away. That’s why life insurance is so important to have. There are different types of life insurance policies, but essentially they all pay cash to your loved ones when you die. Money from life insurance can be used to cover daily living expenses, a mortgage or rent payments, outstanding loans, college tuition and other essential expenses.
