Switch to Lower Interest Rates & Access Top-Up Capital
Home Loan Balance Transfer allows borrowers with existing high-rate home loans to switch their remaining principal balance to partner Banks offering lower interest rates, reduced EMIs, and additional top-up loan facilities for personal or business needs.
Key Benefits of Home Loan Balance Transfer
Substantial Monthly EMI Savings
Lower your monthly outflow by refinancing to competitive bank rates.
Top-Up Loan Facility
Avail additional top-up capital at home loan interest rates for personal or business use.
No Hidden Foreclosure Penalties
Floating rate home loans have zero prepayment charges as per RBI guidelines.
End-to-End Handholding
Dwarikadhish handles foreclosure letter coordination and NOC collection.
Suitable Applicant Profiles
- Existing home loan borrowers paying high interest rates with current lender
- Borrowers with consistent track record of 12+ prompt EMI payments
- Applicants needing extra top-up capital at lower interest rates
- Borrowers wanting to modify loan tenure or co-applicant structure
Eligibility Evaluation Criteria
| Eligibility Parameter | Standard Lender Requirement |
|---|---|
| Existing EMI Track | Minimum 12 consecutive months of clean, prompt EMI payment history |
| Property Construction | Fully constructed or property with certified construction milestone |
| CIBIL Score | 700+ required for seamless transfer & top-up approval |
| Income Stability | Valid current income proof matching or exceeding original sanction capacity |
* Note: Specific parameters may vary based on chosen partner Bank or NBFC internal policies.
Required Documentation Checklist
KYC Proofs
- Aadhaar Card
- PAN Card
- Passport / Voter ID
Existing Loan Documents
- Foreclosure Letter & List of Property Documents (LOD)
- Latest 12 Months Loan Account Statement
- Original Sanction Letter
Income Proofs
- Last 3 Months Salary Slips & Form 16
- 6 Months Current Bank Statement
- 2 Years ITR with Computation (Self-Employed)
Property Proofs
- Photocopy of Property Title Deeds & Approved Plan
Frequently Asked Questions (Home Loan Balance Transfer)
Is a Top-Up loan available along with Balance Transfer?
Yes! Most partner banks offer attractive top-up loan amounts along with balance transfer.
Are there prepayment charges for transferring a floating rate home loan?
No. As per RBI guidelines, lenders cannot levy foreclosure penalties on floating rate home loans.
Does Dwarikadhish charge for balance transfer consultancy?
No. Our services are 100% free with zero upfront charges for borrowers.
Ready to Apply for Home Loan Balance Transfer?
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