Home Loan Balance Transfer

Loan Processing Charges*

Maximum of 1% of loan amount (* Minimum PF of ₹7,500)

Pre-Payment/ Part Payment Charges

No prepayment charges shall be applicable for part prepayment once during a financial year only if the amount being prepaid does not exceed 25% of the principal amount outstanding at the time of such prepayment.

2.5% plus Goods and Services Tax (GST) of principal outstanding being prepaid or at such rates as decided by the Bank if the amount being prepaid is more than said 25%. Charges shall be applicable on the amount more than said 25%.

Individual Borrowers 
No prepayment charges shall be applicable for part payment on floating rate term loan sanctioned for purposes other than business to individual borrowers with or without co-obligant(s).

MSE Borrowers 
No prepayment charges shall be applicable for part payment on floating rate loans to Micro and Small Enterprise (MSE) Certified borrowers if loan is closed from Own Source of Funds.

Premature Closure Charges

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

The borrower will be required to submit documents that HDFC Bank may deem fit and 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 Bank and accordingly may vary from time to time, which shall be notified on our website.

Here are the key features of HDFC Bank's Home Loan Balance Transfer:

• Lower Interest Rates: Transfer your existing Home Loan to HDFC Bank for potentially lower interest rates, reducing your EMI burden.

• Top-Up Loan Option: Avail a top-up loan along with the Balance Transfer for additional financial needs, like home renovation or personal expenses.

• Minimal Documentation: HDFC Bank offers a hassle-free process with minimal paperwork, making it easier to transfer your loan.

• Flexible Tenure: Choose from flexible repayment tenures, allowing you to plan your finances better.

• Quick Processing: Enjoy quick loan processing and fast approvals, ensuring a smooth transition of your Home Loan.

• No Hidden Charges: Transparent processing with no hidden charges ensures clarity and trust in your financial dealings.

The key benefits include:  

• Better loan terms

• Access to additional funds (if applicable)

• The ability to switch to a lender with better service

You can apply for a Balance Transfer by contacting the new lender of your choice, submitting the required documents, and completing their application process. The new lender will coordinate with your existing lender to transfer the outstanding balance.

KYC Documents

• PAN Card or Form 60 (if no PAN Card)

• Valid Passport

• Valid  Driving Licence

• Election/Voter’s ID

• Job Card (NREGA)

• Letter from National Population Register

• Aadhaar Number (voluntary)

• Documents issued by the Government Departments of Foreign Jurisdiction (Like Work/Resident Permit, Social Security Card, Green Card etc.)

• Letter issued by the Foreign Embassy or Mission in India

Income Proof 

• Last 3 months' Salary Slips

• Last 6 months' Bank Statements (salary credits)

• Latest Form-16 and IT Returns

• Income Returns (last 2 Assessment Years, attested by CA)

• Last 2 years’ Balance Sheet and Profit & Loss A/c Statements (attested by CA)

• Latest Form 26 AS

Property & Other Documents  

• Copy of Allotment Letter / Buyer Agreement

• Title Deeds (including the previous chain in resale cases)

• Proof of no encumbrances

Classification of Self-employed  

How does a co-applicant benefit?

Higher loan eligibility with an earning co-applicant.

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

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

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

• SURF (Scheduled Upgradation Repayment Facility): SURF allows you to link your repayment schedule with your expected income growth. This means you can secure a larger loan with lower EMIs in the initial years and then gradually increase your payments in line with your income growth.

• FLIP (Flexible Loan Installment Plan): FLIP offers a flexible repayment plan that adapts to changes in your financial situation. Initially, you pay higher EMIs, which then decrease over time, reflecting your changing income levels.

• Tranche-Based EMI: For under-construction properties, you typically pay only interest on the loan until final disbursement. If you prefer to start repaying the principal sooner, you can opt for a tranche-based EMI plan, which allows you to begin principal payments on the amounts disbursed.

• Accelerated Repayment Scheme: This scheme allows you to increase your EMIs annually in line with your income growth, enabling you to repay your loan faster and more efficiently.