HDFC Bank Home Loan Balance Transfer

HDFC Bank Home Loan Balance Transfer Highlights
Interest Rates	8.70% p.a. onwards
Tenure	Up to 30 years
LTV Ratio
Up to Rs 30 lakh	Up to 90% of property cost
Rs 30.01 lakh-Rs 75 lakh	Up to 80% of property cost
Above Rs 75 lakh	Up to 75% of property cost
Processing Fees	For Salaried/Self-Employed Applicants: Up to 0.50% of the loan amount or Rs 3,000 plus taxes, whichever is higher For Self-Employed Non-Professionals: Up to 1.50% of the loan amount or Rs 4,500 plus taxes, whichever is higher

Note: Rates as of 1st October 2024

 

HDFC Bank Home Loan Balance Transfer Interest Rates

Special Home Loan Rates for Salaried and Self-employed (Professionals and Non-Professionals)

Loan Slab	Interest Rate (p.a.)
All loan amounts	8.75%-9.65%

Standard Home Loan Rates for Salaried and Self-employed (Professionals and Non-Professionals)

Loan Slab	Interest Rate (p.a.)
All loan amounts	9.40%-9.95%

Compare HDFC Bank Home Loan Balance Transfer Interest Rates with Other Lenders

Name of Lender	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
SBI	8.50%-9.85% p.a.	8.50%-9.85% p.a.	8.50%-9.85% p.a.	Apply Now
HDFC Bank Limited	8.70% p.a. onwards	8.70% p.a. onwards	8.70% p.a. onwards	Apply Now
LIC Housing Finance	8.50% - 10.35% p.a.	8.50% - 10.55% p.a.	8.50% - 10.75% p.a.	Apply Now
ICICI Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Kotak Mahindra Bank	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
PNB Housing Finance	8.50% - 14.50% p.a.	8.50% - 14.50% p.a.	8.50%-11.45% p.a.	Apply Now
Punjab National Bank	8.45% - 10.25% p.a.	8.40% - 10.15% p.a.	8.40% - 10.15% p.a.	Apply Now
Bank of Baroda	8.40% - 10.65% p.a.	8.40% - 10.65% p.a.	8.40% - 10.90% p.a.	Apply Now
IDFC First Bank	8.85% p.a. onwards	8.85% p.a. onwards	8.85% p.a. onwards	Apply Now
L&T Finance Limited	8.65% p.a. onwards	8.65% p.a. onwards	8.65% p.a. onwards	Apply Now
Tata Capital Housing Finance	8.75% p.a. onwards	8.75% p.a. onwards	8.75% p.a. onwards	Apply Now
Federal Bank	8.80% p.a. onwards	8.80% p.a. onwards	8.80% p.a. onwards	Apply Now
Axis Bank	8.75%-13.30% p.a.	8.75%-13.30% p.a.	8.75%-9.65% p.a.	Apply Now
Godrej Housing Finance	8.55% p.a. onwards	8.55% p.a. onwards	8.55% p.a. onwards	Apply Now

HDFC Bank Home Loan Balance Transfer Fees and Charges

Processing Fees

Particulars	Processing Charges
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 Rs. 3,000, whichever is higher Minimum Retention Amount: 50% of applicable fees or Rs 3000
Resident Housing/ Extension/ Renovation/ Refinance/ Plot Loans for Self Employed Non-Professionals.	Up to 1.50% of the Loan amount or Rs. 4,500 Minimum Retention Amount: 50% of applicable fees or Rs 4,500
For NRI Loans	Up to 1.25% of the Loan amount or Rs. 3,000, whichever  is  higher Minimum Retention Amount: 50% of applicable fees or Rs 3,000
Re-appraisal of loan after 6months from date of sanction	Up to Rs 2,000
Value Plus Loans	Up to 1.50% of the Loan amount or Rs. 4,500 Minimum Retention Amount: 50% of applicable fees or Rs 4,500
Re-Appraisal Of Loan After 6 Months From Sanction	Up to Rs 2,000 plus applicable taxes

Other Charges

Particulars	Charges
Stamp Duty/ MOD/ MOE/ Registration	As applicable in respective states
CERSAI charges	As per actuals
Charges levied by such third parties such as mortgage guarantee company	As per actuals
Delayed instalment payment charges	Up to 18% p.a. on overdue instalment amounts

Also know about HDFC Bank Home Loan Processing Fees levied on other home loan schemes

Eligibility Criteria for HDFC Bank Home Loan Balance Transfer

• Age: 21-65 years
• Profession: Salaried applicants/Self-Employed Professionals (Doctors, lawyers, architects, CAs, CS, Engineer, Consultant, etc.)/Self-Employed Non-Professionals (Commission Agent, Trader, Contractor, etc.)
• Gender: All
• Nationality: Indian Resident

Know more about HDFC Bank Home Loan Eligibility

Documents Required for HDFC Bank Home Loan Balance Transfer

For Salaried Applicants

ID Proof and Address Proof

• Driving License
• Voter ID
• PAN Card
• Passport

Income Proof

• Salary Slips for last 3 months
• Latest ITR and Form-16
• Bank Statement for past 6 months showing salary credits

Documents for HDFC Bank Home Loan Balance Transfer

• Xerox of property documents
• A letter from the existing lenders on their letterhead mentioning the list of property documents held by them
• A letter on the letterhead of the existing financial institution stating the current outstanding balance

Other Documents

• Processing Fee cheque favoring HDFC Bank Ltd.
• Bank statement for last 6 months showing the repayment of ongoing loans
• Passport size photograph attached on the application form with signatures across
• Employment Contract/ Appointment Letter if the current employer is 1 year old

For Self-Employed Applicants

Photo ID and Residence Proof

• PAN Card
• Voter ID
• Passport
• Driving License

Income Proof

• ITR along with income computation for the last 3 years (for individual and business entity attested by a CA)
• Balance Sheet for last 3 years and profit and loss account statement with annexure/schedules (for business entity and individual attested by CA)
• Savings account statement of individual and current account statement of business entity for past 6 months

Documents for Balance Transfer

• Photocopy of property documents
• A letter on the letterhead of the existing lender stating the list of property documents held by him
• A letter from the existing lending institution on their letterhead stating the latest outstanding balance

Other Documents for HDFC Bank Home Loan Transfer

• Partnership deed, if the business entity is a partnership firm
• Latest Form 26AS
• Business profile
• Details of an existing loan of the individual and business entity including outstanding amount, remaining tenure, installments, security, etc.
• Articles of Association and Memorandum of the company
• Application form with passport size photograph attached and signed across
• List of shareholders and directors with their individual shareholding certified by CA and CS in case the business entity is a company
• Processing Fee Cheque in favor of HDFC Bank Ltd.

Know the HDFC Bank Home Loan Documentation required for other schemes

FAQs on HDFC Home Loan Balance Transfer

What is the current interest rate for HDFC Home Loan Balance Transfer?
Ans. HDFC Bank offers home loan balance transfer facility to its existing home loan borrowers at interest rates starting from 8.70% p.a. onwards. The final interest rates offered to HDFC Bank HLBT applicants wound depend on their credit profile.

What is the maximum term you can avail for HDFC Home Loan Balance Transfer?
Ans. Existing home loan borrowers of other banks and HFCs can transfer their existing home loans to HDFC Bank for tenures of up to 30 years.

Do I get tax benefits on HDFC Bank Home Loan Balance Transfer?
Ans. Just like any home loan borrowers, individuals transferring their home loans to HDFC Bank would continue to claim tax deductions available under Section 24b and Section 80C of Income Tax Act. Under Section 80C the borrower can avail tax deduction of up to Rs 1.5 lakh per financial year on principal repayment whereas Section 24b allows a tax deduction of up to Rs 2 lakh per financial year on the home loan interest paid.

Can borrower of an under-construction property avail a balance transfer loan from HDFC Bank?
Ans. Yes, existing home loan borrowers of an under-construction property can avail HDFC Bank Home Loan Balance Transfer facility.

Can I transfer home loan from HDFC Bank to SBI?
Ans. Yes, you can transfer you home loan from HDFC Bank to SBI home loan. However, existing HDFC home loan borrowers should opt for the HLBT only if the net savings on transfer exceeds the cost and efforts involved in loan transfer by a wide margin.