Home Loan
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Balance Transfer
Take advantage of a Home Loan Balance Transfer with interest rates starting from 7.75%* p.a. Move your existing loan, ranging from ₹ 20 Lakh* to ₹ 10 Crore*, to secure better terms and lower EMIs. Also, benefit from a top up option that allows you to borrow additional funds over your current loan amount, giving you more financial freedom and flexibility.
EMI Calculator
Results generated by the calculator(s) are indicative in nature.
Preferred loan amount
₹
₹20,00,000
₹10,00,00,000
Interest rate (per annum)
%
7%
13%
Loan tenure (months)
36 months
360 months
Estimated EMI
per month- ₹ 36,690
Interest payable
₹52,41, 690
Eligibility & Documents
Eligibility
Residency:
Indian resident or NRI
Age:
Salaried: 23 years to 70 years
Self-employed: 25 years to 70 years
Profession:
Salaried / self-employed professionals and non-professionals
Other:
Can be increased by adding co-applicant income or other verifiable income sources
Documents
Age Proof
Aadhaar Card | PAN Card | Passport
Address Proof
Utility bills (not older than 2 months | Aadhaar Card | Driving License | Passport | Voter ID etc
Photo ID Proof
PAN and any one of the following- Aadhaar Card | Driving License | Passport | Voter ID | Job card by NREGA | Letter issued by the National Population Register containing details of name and address
Others
Eligibility can be increased by adding co-applicant income or other verifiable income sources
List of Additional documents related to your existing loan
Forclosure letter | List of documents submitted to the bank | Statement of account
Income Proof
Income proofs vary for different professionals across salaried, non-salaried and self-employed. List of required income documents
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FAQs & Support
View allCan the borrower of an under-construction property avail of a balance transfer loan from L&T Finance?
Yes, borrowers of under-construction properties can avail of a balance transfer loan from L&T Finance, subject to approvals and other policies.
What is a Home Loan Balance Transfer?
A Home Loan balance transfer involves transferring the outstanding balance of your existing Home Loan from one lender to another. This is typically done to benefit from lower interest rates or better loan terms offered by the new lender.
Is there any tax benefit available on Home Loan Balance Transfers?
Tax advantages for Home Loan balance transfers are available under Sections 24(b) and 80C of the Income Tax Act.
Is balance transfer a good option for a Loan?
Certainly! A balance transfer allows you to benefit from reduced interest rates and lower EMIs while offering favorable loan terms.
Does a Home Loan Balance Transfer need a Guarantor?
The Home Loan balance transfer process usually doesn't need a guarantor if the borrower meets the eligibility requirements and has a good repayment history.
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