HDFC Balance Transfer Loans

HDFC offers Balance Transfer Loans at attractive interest rates to lower your loan repayments. Move your Home Loan outstanding balances to HDFC, pay lower monthly instalments and enjoy the savings for the other things in life that really matter to you and your family.

Check Your Eligibilty

Balance Transfer Loan EMI Calculator

Loan Amount

₹

₹1 Lac ₹10 Cr

Tenure (Years)

1 Year 30 Years

Interest Rate (% P.A.)

0.5 % 15 %

Monthly Balance Transfer Loan EMI

₹198341

Principal Amount

₹198341

Interest Amount

₹198341

Total Amount Payable

₹198341

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Benefits & Features
Rates & Offers
Calculators
Documents
Fees & Charges
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FAQs
Home Loan Repayment Options
Terms and Conditions

BALANCE TRANSFER BENEFITS

End to end digital process

Home loan approval in 4 simple steps.

Customised Repayment Options

Tailor-made home loans to suit your requirements.

Easy documentation

Apply with minimal documents, save time and effort.

24x7 assistance

Connect with us on Chat, WhatsApp anytime, anywhere.

Online loan account

KEY FEATURES

Transfer your outstanding Home Loan availed from another Bank / Financial Institution to HDFC and get an additional Top Up Loan of up to ₹50 lacs.

Attractive interest rates that make your Home Loan affordable and easier on your pocket.

Customised repayment options to suit your needs.

No hidden charges.

Integrated branch network for availing and servicing the loan anywhere in India.

Special arrangement with AGIF for Home Loans for those employed in the Indian Army. To know more, click here

INTEREST RATES

SPECIAL BALANCE TRANSFER LOAN RATES FOR SALARIED & SELF EMPLOYED

Retail Prime Lending Rate: 18.55%

Loan Slab	Interest Rates (% p.a.)
For All Loans*	8.50 - 9.00

STANDARD BALANCE TRANSFER LOAN RATES

Retail Prime Lending Rate: 18.55%

Loan Slab	Interest Rates (% p.a.)
For All Loans*	8.70 - 9.60

*The above Home Loan interest rates/ EMI are applicable for loans under the Adjustable Rate Home Loan Scheme of Housing Development Finance Corporation Limited (HDFC) and are subject to change at the time of disbursement. The Home Loan interest rates above are linked to HDFC's Bench Mark Rate ("RPLR") and are variable through out the tenor of the loan. All loans are at the sole discretion of HDFC Ltd. For further details regarding the loan slabs and interest rates above Click Here

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CALCULATORS

ELIGIBILITY FOR BALANCE TRANSFER LOANS

Home loan eligibility is primarily dependent on income and repaying capacity. Other important factors include the customer’s profile, age at loan maturity, age of property at loan maturity, investment and savings history etc.

Important Factor	Criteria
Age	21-65 years
Profession	Salaried / Self Employed
Nationality	Resident Indian
Tenure	Up to 30 years

Classification of Self Employed

SELF-EMPLOYED PROFESSIONAL	SELF EMPLOYED NON-PROFESSIONAL (SENP)
Doctor, Lawyer, Chartered Accountant, Architect, Consultant, Engineer, Company Secretary etc.	Trader, Commission Agent, Contractor etc.

How does adding a co-applicant benefit? *

Higher loan eligibility with an earning co-applicant.
Lower interest rate on adding a female co-owner as co-applicant.

*All co-applicants need not be co-owners. But all co-owners need to be co-applicants to the loans. Generally, co-applicants are close family members.

Maximum Funding**
Loans up to and including ₹30 lacs	90% of the property cost
Loans from ₹30.01 lacs to ₹75 lacs	80% of the property cost
Loans above ₹75 lacs	75% of the property cost

**Subject to market value of the property and repayment capacity of the customer, as assessed by HDFC.

DOCUMENTS

For loan approval, you need to submit the following documents for applicant / all co-applicants along with the completed and signed home loan application form.

A	Sr.No.	Mandatory Documents
	1	PAN Card or Form 60 (If the customer does not have a PAN Card)
B	Sr.No.	Description of Officially Valid Documents (OVD) that can be accepted for establishing the legal name & current address of Individuals*[Any one of the following documents can be submitted]	Identity Proof	Address Proof
	1	Passport, the validity of which has not expired.	<%y%>	<%y%>
	2	Driving license which has not expired.	<%y%>	<%y%>
	3	Election /Voters identification card	<%y%>	<%y%>
	4	Job card issued by NREGA duly signed by the officer of the State Government	<%y%>	<%y%>
	5	Letter issued by the National Population Register containing details of name, address.	<%y%>	<%y%>
	6	Proof of possession of Aadhaar Number (to be obtained voluntarily)	<%y%>	<%y%>

A document mentioned above shall be deemed to be an OVD even if there is a change in the name subsequent to issuance provided it is supported by a marriage certificate issued by State Government or Gazette notification, indicating such a change of name.

Document	Salaried	Self Employed Professional	Self Employed Non Professional
Last 3 months' Salary Slips	<%y%>
Last 6 months' Bank Statements, showing salary credits	<%y%>
Latest Form-16 and IT returns	<%y%>
Income Tax Returns along with computation of income for the last 3 Assessment Years (of both the individual and the business entity and attested by a CA)		<%y%>	<%y%>
Last 3 years’ Balance Sheet and Profit & Loss A/c Statements, with Annexures / Schedules (of both the individual and the business entity and attested by a CA)		<%y%>	<%y%>
Last 6 months' Current A/c Statements of the business entity and Savings Account Statements of the individual		<%y%>	<%y%>

Document	Salaried	Self Employed Professional	Self Employed Non Professional
A letter on the letter head of the existing lender stating the list of property documents held by them	<%y%>	<%y%>	<%y%>
Latest outstanding balance letter from your existing financial institution on their letter head	<%y%>	<%y%>	<%y%>
Photocopy of the property documents (including Own Contribution Proof)	<%y%>	<%y%>	<%y%>

Document	Salaried	Self Employed Professional	Self Employed Non Professional
Own Contribution Proof	<%y%>	<%y%>	<%y%>
Employment Contract / Appointment Letter in case current employment is less than year old	<%y%>
Last 6 months' Bank Statements showing repayment of any ongoing loans	<%y%>	<%y%>	<%y%>
Passport size photograph of all the applicants / co-applicants to be affixed on the Application form and signed across.	<%y%>	<%y%>	<%y%>
Cheque for processing fee favouring HDFC Ltd.	<%y%>	<%y%>	<%y%>
Business Profile		<%y%>	<%y%>
Latest Form 26 AS		<%y%>	<%y%>
List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company		<%y%>	<%y%>
Memorandum and Articles of Association of the Company		<%y%>	<%y%>
Partnership deed in case of the business entity being a partnership firm		<%y%>	<%y%>
Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc.		<%y%>	<%y%>

*All documents to be self-attested. The above list is indicative in nature and additional documents can be asked for.

FEES AND CHARGES

Processing Fees

Salaried/Self Employed Professional:
Up to 0.50% of the loan amount or ₹3,000 whichever is higher, plus applicable taxes.
Minimum Retention Amount: 50% of applicable fees or ₹3,000 + applicable taxes whichever is higher.

Self Employed Non-Professional:
Up to 1.50% of the loan amount or ₹4,500 whichever is higher, plus applicable taxes.
Minimum Retention Amount: 50% of applicable fees or ₹4,500 + applicable taxes whichever is higher.

Fees On Account Of External Opinion

Fees on account of external opinion from advocates/technical valuers, as the case may be, is payable on an actual basis as applicable to a given case. Such fees is payable directly to the concerned advocate / technical valuer for the nature of assistance so rendered.

Property Insurance

The customer shall pay the premium amounts directly to the insurance provider, promptly and regularly so as to keep the policy / policies alive at all times during the pendency of the loan.

Charges On Account Of Delayed Payments

Delayed payment of interest or EMI shall render the customer liable to pay additional interest up to 24% per annum.

Incidental Charges

Incidental charges & expenses are levied to cover the costs, charges, expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. A copy of the policy can be obtained by customers from the concerned branch on request.

Statutory / Regulatory Charges

All applicable charges on account of Stamp Duty / MOD / MOE / Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) or such other statutory / regulatory bodies and applicable taxes shall be borne and paid (or refunded as the case may be) solely by the customer. You may visit the website of CERSAI for all such charges at www.cersai.org.in

Other Charges

Type	Charges
Check Dishonour Charges	₹300**
List Of Documents	Up to ₹500
Photo Copy Of Documents	Up to ₹500
PDC Swap	Up to ₹500
Disbursement Cheque Cancellation Charge Post Disbursement	Up to ₹500
Re-Appraisal Of Loan After 6 Months From Sanction	Up to ₹2,000 plus applicable taxes
Reversal of Provisional Prepayment under HDFC Maxvantage Scheme	Rs.250/- plus applicable taxes/statutory levies at the time of reversal

Housing Loans

A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest	B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest
For loans sanctioned to individual borrowers with or without co-obligants, no prepayment charges shall be payable on account of part or full prepayments made through any sources* except when the loan is sanctioned for business purposes**.	For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at the rate of 2%, plus applicable taxes/statutory levies of the amounts being so prepaid on account of part or full prepayments except when part or full prepayment is being made through own sources*.

Non Housing Loans and loans classified as business loans**

A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest	B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest
For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at a rate of 2% plus applicable taxes/statutory levies of the amounts being so repaid on account of part or full prepayment.	For all loans sanctioned with or without co-obligants, the prepayment charge shall be levied at a rate of 2% plus applicable taxes/statutory levies of the amounts being so repaid on account of part or full prepayments
No prepayment charges shall be payable on account of part or full prepayments on Loans against Property / Home equity loans sanctioned to individuals for other than business purposes**

Own Sources: *the expression "own sources" for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution.

Business Loans: **The following loans shall be classified as business loans:

LRD loans
Loans against property / Home Equity Loan for Business Purpose i.e. Working Capital,  Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds.
Non Residential properties
Non Residential Equity Loan
Top up loans for Business Purpose i.e. Working Capital, Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds.

The Borrower will be required to submit such documents that HDFC may deem fit & proper to ascertain the source of funds at the time of prepayment of the loan.

The prepayment charges are subject to change as per prevailing policies of HDFC and accordingly may vary from time to time which shall be notified on www.hdfc.com.

We offer our existing customer the option to reduce the applicable interest rates on the Home Loan (by changing the spread or switching between schemes) through our Conversion Facility. You can take advantage of this facility by paying a nominal fee and opt for either reducing your monthly instalment (EMI) or loan tenure. Terms and conditions apply. To avail of our Conversion Facility and to discuss the various available options either click here to allow us to call you back or log on to our Online Access for Existing Customers, to get your Home Loan account information 24x7. The following options of conversion are available to an existing customer of HDFC:

Name of the Product/Service	Name of Fee/Charge levied	When Payable	Frequency	Amount in Rupees
Switch to Lower Rate in Variable rate Loans (Housing / Extension / Renovation)	Conversion Fees	On Conversion	On every Spread change	Upto 0.50% of the Principal Outstanding and undisbursed amount (if any) at the time of Conversion or a cap ₹50000 plus taxes whichever is lower.
Switching to Variable Rate Loan from Fixed Rate Loan (Housing / Extension / Renovation)	Conversion Fees	On Conversion	Once	Upto 0.50% of the Principal Outstanding and undisbursed amount (if any) at the time of Conversion or a cap ₹50000 plus taxes whichever is lower.
Switch from Combination Rate Home Loan fixed rate to Variable rate	Conversion Fees	On Conversion	Once	1.75% of the Principal Outstanding and undisbursed amount (if any) plus taxes at the time of Conversion.
Switch to Lower Rate (Non–Housing Loans)	Conversion Fees	On Conversion	On every Spread change	Half of the spread difference on the principal outstanding and undisbursed amount (if any) plus taxes, with a minimum fee of 0.5% and Max. 1.50%.
Switch to Lower Rate (Plot Loans)	Conversion Fees	On Conversion	On every Spread change	0.5% of principal outstanding and undisbursed amount (if any) plus taxes at the time of Conversion.
Switch to a RPLR-NH Benchmark Rate (Non–Housing Loans) and corresponding spread	Conversion Fees	On conversion where the resultant rate of interest remains the same	On change of bench- mark rate and/or change of Spread Change	NIL
Switch to a RPLR-NH Benchmark Rate (Non–Housing Loans) and corresponding spread	Conversion Fees	On conversion where the resultant rate of interest is lowered	On change of benchmark rate and/ or change of Spread Change	Half of the spread difference on the principal outstanding and undisbursed amount (if any) plus taxes, with a minimum fee of 0.5% and Max. 1.50%
Switch to Lower Rate (Loans under HDFC Reach)- Variable Rate	Conversion Fees	On Conversion	On every Spread change	Upto 1.50% of the principal outstanding and undisbursed amount (if any) + applicable taxes/statutory levies at the time of conversion.
Switch to HDFC Maxvantage Scheme	Processing Fee	At the time of Conversion	Once	0.25% of the outstanding loan amount + applicable taxes/statutory levies at the time of conversion

(*) the contents of the above are subject to change from time to time and the levy of the same shall be at such rates as may be applicable as on the date of such charge.
**Conditions apply.

FREQUENTLY ASKED QUESTIONS

Transferring your outstanding home loan availed from another Bank / Financial Institution to HDFC is known as a balance transfer loan

Any borrower who has an existing home loan with another bank/HFI in which he/she have had a regular payment track of 12 months ,can avail a balance transfer loan from HDFC.

The maximum term that a customer can avail is 30 years or till the age of retirement ,whichever is lower under HDFC's 'Telescopic Repayment Option.

Interest rates applicable on balance transfer loans do not differ from the interest rates of home loans.

Yes. You are eligible for tax benefits on the principal and interest components of your balance transfer loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our Loan Counselor about the tax benefits which you could avail on your loan.

Yes, you can avail an additional top up loan of upto ₹50 lakhs along with a balance transfer loan from HDFC.

You can find a checklist of documents ,fees charges for a balance transfer loan on https://www.hdfc.com/checklist#documents-charges

Yes, customers who have purchased an under construction property can avail a balance transfer loan from HDFC.

REPAYMENT OPTIONS

Step Up Repayment Facility (SURF)*

SURF offers an option where the repayment schedule is linked to the expected growth in your income. You can avail a higher amount of loan and pay lower EMIs in the initial years. Subsequently, the repayment is accelerated proportionately with the assumed increase in your income.

Flexible Loan Installments Plan (FLIP)*

FLIP offers a customized solution to suit your repayment capacity which is likely to alter during the term of the loan. The loan is structured in such a way that the EMI is higher during the initial years and subsequently decreases in proportion to the income.

Tranche Based EMI

If you purchase an under construction property you are generally required to service only the interest on the loan amount drawn till the final disbursement of the loan and pay EMIs thereafter. In case you wish to start principal repayment immediately you may opt to tranche the loan and start paying EMIs on the cumulative amounts disbursed.

Accelerated Repayment Scheme

This option provides you the flexibility to increase the EMIs every year in proportion to the increase in your income which will result in you repaying the loan much faster.

^*Applicable only to salaried individuals.

TERMS & CONDITIONS

Security

Security of the loan would generally be security interest on the property being financed and / or any other collateral / interim security as may be required by HDFC.

Other Conditions

All the information contained herein above is for awareness and customer convenience and is intended to only act as an indicative guide about HDFC’s products and services. For detailed information about HDFC’s products and services kindly visit the nearest HDFC branch.

Click here for the Most Important Terms and Conditions pertaining to your loan.