What’s in store for you?
Home Loan Balance Transfer Interest Rates (NRIs)
All rates are benchmarked to Policy Repo Rate. Current applicable Repo Rate = 6%
-
Special Housing Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals)
-
Key Benefits
-
Key Features
-
Important Notes
-
Terms and Conditions
Wondering if You Are Eligible?
Fees and Charges for Home Loan Balance Transfer for NRI
| Name of Fee/Charge Levied | Amount in Rupees |
|---|---|
| Fees for Resident Housing Loan/Extension/House Renovation Loan/Refinance of Housing Loan/Plot Loans for Housing (Salaried, Self-Employed Professionals) | Up to 0.50% of the loan amount or ₹3,300, whichever is higher, plus applicable taxes/statutory levies. Minimum Retention Amount: 50% of applicable fees or ₹3,300 plus applicable taxes/statutory levies, whichever is higher. |
| Fees for Resident Housing/Extension/Renovation/Refinance/Plot Loans for Self-Employed Non-Professionals | Up to 1.50% of the loan amount or ₹5,000, whichever is higher, plus applicable taxes/statutory levies. Minimum Retention Amount: 50% of applicable fees or ₹5,000, plus applicable taxes/statutory levies, whichever is higher. |
| Fees for NRI Loans | Up to 1.50% of the loan amount or ₹3,300, whichever is higher, plus applicable taxes/statutory levies and charges. Minimum Retention Amount: 50% of applicable fees or ₹3,300, plus applicable taxes/statutory levies, whichever is higher |
| Fees for Value Plus Loans | Up to 1.50% of the loan amount or ₹5,000, whichever is higher, plus applicable taxes/statutory levies and charges. Minimum Retention Amount: 50% of applicable fees or ₹5,000, plus applicable taxes/statutory levies, whichever is higher. |
| Fees for Loans under HDFC Bank Reach Scheme | Up to 2.00% of the loan plus applicable taxes/statutory levies. Minimum Retention Amount: 50% of applicable fees or ₹3,300 plus applicable taxes/statutory levies, whichever is higher. |
| Re-appraisal of Loan After 6 Months from Date of Sanction | Salaried / Self-employed Professional- Up to ₹3300/- + applicable taxes/ statutory charges For Self-Employed Non-Professionals/ NRI/ Value Plus Loans/ HDFC Reach Scheme/- Upto ₹5000/- + applicable taxes + statutory charges |
| Increase in Loan amount | For loan amount increase, fees applicable under processing charges shall be levied. |
Other Charges
| Name of Fee/Charge Levied | Amount in Rupees |
|---|---|
| Delayed Instalment Payment Charge | A maximum of 18% p.a. on overdue instalment amounts. |
| Incidental Charges | Incidental charges and expenses are levied to cover the costs, charges, fees, and other monies as per actuals applicable to a case. |
| Stamp Duty/MOD/MOE/Registration | As applicable in the respective states. |
| Fees/Charges levied by entities such as CERSAI | As per actual charges/fees levied by regulatory bodies plus applicable taxes/statutory levies. |
| Fees/Charges levied by such third parties such as Mortgage Guarantee Company | As per actual fee/charges levied by any third party(ies) plus applicable taxes/statutory levies. |
| Name of Fee/ Charge Levied | Amount in Rupee |
|---|---|
| Switch to Lower Rate in Variable rate Loans (Housing/ Extension/ Renovation / Plot / Top Up) | Upto 0.50% of the Principal Outstanding and undisbursed amount (if any) at the time of Conversion or ₹3000 (whichever is lower) |
| Switch from Combination Rate home loan under fixed rate term / fixed rate loan to Variable rate | Upto 1.50% of the Principal Outstanding and Undisbursed amount (if any)+ applicable taxes / statutory levies at the time of Conversion. |
| Conversion of ROI from floating to fixed (who have availed EMI based floating rate Personal Loans) | Please refer to the RBI circularNo.DBR.No.BP.BC.99/08.13.100/2017-18 on “XBRL Returns – Harmonisation of Banking Statistics” dated January 04, 2018.” Upto ₹3000/- + applicable taxes / statutory levies. |
| Name of Fee/ Charge Levied | Amount in Rupee |
|---|---|
| Payment Return Charges | ₹300/- Per Dishonor. |
| Photocopy of Documents | Up to ₹500/- + applicable taxes/statutory levies |
| Fees on account of External Opinion – such as legal/technical verifications. | As per actuals. |
| List of documents charges- for issuance of duplicate list of documents post disbursement | Up to ₹500/- + applicable taxes / statutory levies. |
| Repayment Mode Changes | Up to ₹500/- + applicable taxes / statutory levies. |
| Custody Charges/Property Document Retention charges | ₹1000 per calendar month, after 2 calendar months from the date of closure of all loans/facilities linked to the collateral |
| Charges levied on account of non-adherence to sanction terms agreed by the customer at the time of the loan disbursement. | Up to 2% charges per annum on principal outstanding for non-compliance of agreed terms up to its fulfilment- (charged on a monthly basis) subject to a cap of ₹50000/- for critical security-related deferrals. Max ₹25000/- for other deferrals. |
| Name of Fee/Charge levied | Amount in Rupees |
|---|---|
| A. Adjustable-Rate Loans (ARHL) and Combination Rate Home Loans (“CRHL”) during the period of applicability of the Variable Rate of interest | For loans sanctioned to individual borrowers with or without co-applicants, 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. |
| B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loans (“CRHL”) during the period of applicability of the Fixed Rate of Interest | For all loans sanctioned with or without co-applicants, 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*. |
*Own Sources: The expression "own sources" means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution.
| Name of Fee/Charge Levied | Amount in Rupees |
|---|---|
| Custody Charges | ₹1,000 per month for non-collection of collateral documents beyond 60 days from the closure date of all loans/facilities linked to the collateral. |
Loan Processing Charges
Maximum of 1% of the loan amount (Minimum PF of ₹7,500)
Pre-Payment/Part Payment Charges
| Floating Interest Rate Term Loans | • 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% + applicable taxes 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 above said 25%. • Nil Part Payment charges for floating rate term loans availed by Individual borrowers for End Use other than Business Purpose • Nil Part Payment charges for floating rate term loans availed by Micro & Small Enterprises. |
| Fixed Interest rate Term loans | • Maximum of 2.5% of the Principal Outstanding. • >60 months after the disbursement of the Loan – NIL Charges. • NIL Part-payment charges for loan amounts up to ₹50 Lakh availed by Micro & Small Enterprises. • 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 applicable taxes) of principal outstanding being prepaid or at such rates as the Bank decides if the amount being prepaid is more than 25%. Charges shall be applicable on the amount over said 25%. |
Pre-Mature Closure Charges
| Floating rate term loans availed by Individual borrowers for Business Purposes | 2.5 % of the Principal Outstanding >60 months after the disbursement of the Loan – NIL Charges |
| Floating rate term loans availed by Individual borrowers for End Use other than Business Purposes | NIL |
| Floating rate term loans availed by Micro, Small Enterprises and Closure from Own Source* | NIL |
| Floating rate term loans availed by Micro, Small Enterprises and Closure Through Takeover by any financial Institutions | 2 % takeover charges of the Principal Outstanding >60 months after the disbursement of the Loan – NIL Charges |
| Fixed Interest rate Term loans | - 2.5 % (Plus applicable Taxes) of the Principal Outstanding, > 60 months after the disbursement of the Loan/Facility – NIL Charges. NIL Premature Closure Charges /Foreclosure/ Prepayment /Takeover/Part-payment charges for loan amounts up to ₹50 Lakh availed by Micro & Small Enterprises. |
| Delayed Instalment Payment Charge | A maximum of 18% P.A. on overdue instalment amounts. |
| Payment Return Charges | ₹450/- |
| Repayment schedule charges* | ₹50/- per instance |
| Repayment mode change charges* | ₹500/- |
| Custody charges | ₹1000/- per month for non-collection of collateral documents beyond 60 days from the closure date of all loans/facilities linked to the collateral. |
| Revision in spread | 0.1% of Principal Outstanding or ₹5000, whichever is higher Per proposal |
| Legal/Repossession & Incidental charges | At actuals |
| Stamp Duty & other statutory charges | As per applicable laws of the state |
| Conversion charges for Change in Reference rate (BPLR/ Base rate/MCLR to Policy Repo Rate (for existing customers) | NIL |
| Penal Interest for Non-Adherence of ESCROW Account (as per sanction terms and conditions) | 2% p.a. additional on existing ROI (Applicable in LARR cases only) |
| Penal Interest charged for non-complying with sanction terms | 2% per annum additional on existing ROI- (Charged monthly) Subject to a Max of ₹50000/- |
| CERSAI Charges | ₹100 for each property |
| Property Swapping / Partial Property Release* | 0.1% of the loan amount. Min – ₹10,000/-. Max of ₹25000/- per property |
| Document Retrieval charges post Disbursement* | ₹75/- per document set. (Post disbursement) |
Other Charges
| Delayed Instalment Payment Charge | A maximum of 18% P.A. on overdue instalment amounts. |
| Payment Return Charges | ₹450/- |
| Repayment schedule charges* | ₹50/- per instance / Digital – Free |
| Repayment mode change charges* | ₹500/- |
| Custody charges | ₹1000/- per month for non-collection of collateral documents beyond 60 days from the closure date of all loans/facilities linked to the collateral. |
| Revision in spread | 0.1% of Principal Outstanding OR ₹3000, whichever is higher Per proposal |
| Legal/Repossession & Incidental charges | At actuals |
| Stamp Duty & other statutory charges | As per applicable laws of the state |
| Conversion charges for Change in Reference rate (BPLR/ Base rate/MCLR to Policy Repo Rate (for existing customers) | NIL |
| Charges levied for Non-Adherence to ESCROW Account (as per sanction terms and conditions) | 2% p.a. additional on existing ROI (Applicable in LARR cases only) |
| Charges levied on account of non-adherence to sanction terms. | 2% per annum additional on existing ROI- (Charged monthly) Subject to a Max of ₹50000/- |
| CERSAI Charges | ₹100 for each property / at actuals |
| Property Swapping / Partial Property Release* | 0.1% of the loan amount. Min – ₹10,000/-. Max of ₹25000/- per property |
| Document Retrieval charges post Disbursement* | ₹500/- per document set. (Post disbursement) |
All the above charges/fees/Commissions are exclusive of taxes. All government taxes are applicable.
10% discount to senior citizens on all the service 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 per the prevailing policies of HDFC Bank and may vary from time to time, which shall be noted on www.hdfcbank.com.
More About Home Loan Balance Transfer for NRI
Here are the features of HDFC Bank Home Loan Balance Transfer for NRIs:
Attractive Interest Rates: Benefit from competitive rates on balance transfer.
Flexible Tenure: Choose a repayment period up to 15 years.
Quick Processing: Fast and efficient loan transfer process.
Loan Amount: Transfer high loan amounts based on eligibility.
Prepayment Options: No penalty for prepayment or foreclosure.
Currency Flexibility: Repayments can be made in foreign currency.
Lower Interest Rates: NRIs can benefit from reduced interest rates, lowering their EMI (Equated Monthly Instalments).
Better Loan Terms: Opportunity to switch to more favourable loan terms, such as extended tenure or flexible repayment options.
Top-Up Loan Option: Some lenders offer additional top-up loans along with the balance transfer, providing extra funds.
Cost Savings: Over time, reduced interest rates and better terms can result in significant savings.
Evaluate Offers: Compare balance transfer options from different lenders.
Submit Application: Fill out the application form for the balance transfer with the chosen lender.
Provide Documents: Submit necessary documents, including proof of NRI status, identity, property documents, and existing loan details.
Loan Approval: The lender will evaluate your application and approve the transfer based on their criteria.
Transfer Process: Once approved, the new lender will settle the outstanding amount with the current lender and take over the loan.
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)
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
How does a Co-applicant Benefit?
Higher loan eligibility with an earning 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 lakh | 90% of the property cost |
| Loans from ₹30.01 lakh to ₹75 lakh | 80% of the property cost |
| Loans above ₹75 lakh | 75% of the property cost |
**Subject to market value of the property and repayment capacity of the customer, as assessed by HDFC Bank.
| Rates Offered to Customer (Past Quarter) | ||||||
|---|---|---|---|---|---|---|
| Segment | IRR | APR | ||||
| Min | Max | Avg. | Min | Max | Avg. | |
| HOUSING | 8.35 | 12.5 | 8.77 | 8.35 | 12.5 | 8.77 |
| NON - HOUSING* | 8.4 | 13.3 | 9.85 | 8.4 | 13.3 | 9.85 |
| *NON - HOUSING = LAP(EQUITY), NON-RESIDENTIAL PREMISES LOAN & INSURANCE PREMIUM FUNDING | ||||||
Frequently Asked Question
Yes, NRIs (Non-Resident Indians) can transfer their existing Home Loan Balance to another bank or financial institution that offers better interest rates or terms.
The maximum loan transfer amount for NRIs depends on the policies of the lending bank and the outstanding principal on the existing loan. Typically, it can be up to 80-90% of the property’s cost, subject to the market value of the property and the repayment capacity of the applicant, as assessed by HDFC Bank.
Transferring your outstanding Home Loan availed from another Bank/Financial Institution to HDFC Bank is known as a Balance Transfer Loan. HDFC Bank offers Home Loan Balance Transfer options for Non-Resident Indians (NRIs), enabling them to move their existing Home Loans to HDFC Bank for better terms and benefits. This service provides an opportunity to optimize loan conditions and reduce financial burdens.
Any borrower with an existing Home Loan with another bank/HFI in which he/she has had a regular payment track of 12 months can avail a Balance Transfer Loan from HDFC Bank.
The maximum term a customer can avail is 30 years or till the age of retirement, whichever is lower under HDFC Bank'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 of 1961. As the benefits could vary each year, please check with our Loan Counsellor about the tax benefits you could avail on your loan.
Yes, you can avail an additional top-up loan of up to ₹50 lakh along with a Balance Transfer Loan from HDFC Bank.
You can find a checklist of documents, fees, and charges for a Balance Transfer Loan here.
Yes, customers who have purchased an under-construction property can avail a Balance Transfer Loan from HDFC Bank.
Upgrade your home without any financial burden!