Benefits of SMFG Grihashakti Home Loan Transfer:
More funds in your wallet:
When you opt for a Home Loan Balance Transfer with us, our reasonable interest rates and exciting offers on top-up loan amounts allows you to avail more funds to fulfil your needs comfortably.
Readjust your repayment period:
With our Home Loan Transfer Online, you can always increase or decrease your repayment tenure to suit your finances. This helps you to plan your expenses more efficiently.
Home Loan Balance Transfer Loan Interest Rate
Apply with us today to transfer the outstanding balance of your home loan at an attractive interest rate. Our home loan interest rates are competitive, and are determined based on the applicant’s profile, eligibility and our policy at the time of loan application.
Documents Required For Balance Transfer Loan
Following are the documents required for Home Loan Balance Transfer for salaried and self-employed borrowers
Type of Document |
Salaried |
Self-employed |
Proof Of Identity |
- PAN Card
- Voters ID
- Driving License
- Employee Card
|
- PAN Card
- Voters ID
- Driving License
|
Proof Of Income |
- Last 3 months’ salary slips
- 2 years’ Form 16
- 6 months’ bank statement with salary credits
|
- Last 2 years’ ITR with computation
- CA audited Financial wherever applicable
- 6 months primary bank statement
|
Proof of Residence |
- Aadhaar Card*
- Latest Electricity bill/piped gas monthly bill
- Ration Card
- Property Tax/Water Bill
|
- Aadhaar Card*
- Latest Electricity bill/piped gas monthly bill
- Ration Card
- Property Tax/Water Bill
|
Documents pertaining to the property will also be requested.
*Terms and conditions applicable. Loans are sanctioned at the discretion of SMFG Grihashakti. Please note that Aadhaar numbers should be masked before submission as per regulatory guidelines.
Home Loan Balance Transfer Eligibility Criteria
Following are the Home Loan Balance Transfer Eligibility criteria for salaried and self-employed borrowers
Salaried |
Self-employed |
MNCs/Listed Public Ltd. Cos/Govt. |
individual businessmen/sole proprietorship |
Pvt. Ltd. Organisations/unlisted or closely held companies/partnerships/proprietorship firms |
Professionals – doctors/architects/CAs |
|
Partnership Firms |
|
Pvt. Ltd. Organisations/unlisted or closely held companies |
*Terms and Conditions apply. Loans are at the sole discretion of SMFG India Home Finance Co. Ltd. (Formerly Fullerton India Home Finance Co. Ltd.)
Fee and charges on home loan balance transfer
There is a processing fee of 3% of the loan and an interest rate conversion fee of 1%.
Apart from this, application fees would be charged. Here are the details –
- Application fees of INR 2,500 for loan amount up to INR 10 lakhs
- Application fees of INR 3,500 between INR 10 lakhs and 25 lakhs loan
- Application fees of INR 4,500 between INR 25 lakhs to 50 lakhs loan
- Application fees of INR 6,000 above INR 50 lakhs loan
Documentation fees would also be charged. Here are the details
- INR 1,500 for loan amount up to INR 25 lakhs
- INR 3,000 for more than INR 25 lakhs
Stamping fees are as per state laws.