✓ Home Loan Balance Transfer Facility ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.50% Check Eligibility

Apply for the Shriram Housing Finance Home Loan Balance Transfer facility and save on EMIs. The interest rates start from just 11.50% p.a., and you can repay the amount conveniently over a tenure of 25 years. 

 

You also enjoy other perks, including a simple transfer process, zero hidden charges, minimal documentation and easy-to-meet eligibility criteria.

Interest Rates and Charges

Here are the interest rates and charges you need to be aware of before opting for this facility:

Interest Rate

11.50% p.a. onwards

Loan tenure

Up to 300 months or 25 years of repayment tenure (subject to your retirement age)

Processing Fee

  • Processing Fee: Up to 2.5% of the loan amount plus applicable taxes
  • Foreclosure Charges: For Individual Borrowers – Nil for Floating Rate Loans; as per MITC for Fixed Rate

*Disclaimer: The mentioned rates and charges are subject to change at the lender’s discretion.

Shriram Housing Finance Home Loan Balance Transfer EMI Calculator

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Features and Benefits

Check out the features and benefits associated with the balance transfer option at Bajaj Markets platform:

Pocket-friendly Interest Rates

You can opt for the Shriram Housing Finance Home Loan Balance Transfer balance transfer facility at nominal interest rates starting from 11.50% p.a.

Flexible Repayment Options

Enjoy stress-free loan repayment by choosing an ideal tenure of up to 25 years.

No Hidden Charges

Benefit from complete transparency and no hidden fees and charges.

Shriram Housing Finance Home Loan Balance Transfer Eligibility

Here’s the eligibility criteria for applying for a housing loan with Shriram Housing Finance. 

  • You must be a salaried individual, or a self-employed professional/non-professional or non-individual entity.

  • You must be over 24 years of age when applying and below 70 years of age at the time of loan maturity.

  • Your monthly income must be over ₹30,000.

  • If you’re a salaried applicant, work experience of minimum 2 years is mandatory. Alternatively, if you’re a self-employed applicant, you must have had a business venture for at least 3 years.

Eligibility Criteria and Documents Required

Meet the following eligibility criteria to enjoy a hassle-free application process:

  • You must be a salaried individual, a self-employed professional/non-professional or a non-individual entity

  • You must be at least 24 years old when applying and lower than 70 years old at the time of maturity

  • Your monthly income must be more than ₹30,000

  • If you are a salaried individual, you need to have a work experience of minimum 2 years

  • If you are self-employed, your business vintage must be at least 3 years

 

Here is the list of the documents required for Shriram Housing Finance Home Loan Balance Transfer:

1. Basic Documents:

  • Completed Loan Application

  • ID proof such as PAN card, Aadhaar card, passport, voter ID, etc.

  • Address proof such as ration card, Aadhaar card, passport, etc. 

2. Income Documents:

Salaried Individuals:

  • Form 16

  • Certified letter from the Employer

  • Updated 6 months’ bank statement

  • Pay slips for the last 2 months, Increment or Promotion letter

  • Investment proofs (like fixed deposits, shares, etc.)

  • IT returns (for 3 years)

  • Passport-size photographs

 

Self-Employed Individuals:

  • Updated 6 months bank statement

  • A brief introduction of his or her profession/business

  • Income tax returns for the last 3 years of the applicant along with computation of income duly attested by a Chartered Accountant

  • Balance Sheet and Profit & Loss account for the last 2 years of the firm- duly attested by a Chartered Accountant 

3. Property Documents:

  • Sale deed, agreement of sale with the builder (original copy)

  • Land and building tax paid receipts, location sketch of the property certified by the revenue authorities, possession certificate

  • An approved copy of the building plan 

  • Original receipts of the advance payments that are made towards the purchase of flat

 

Disclaimer: The list of documents required is not exhaustive. Kindly refer to the official website for the complete list of accepted documents.

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How to Apply?

Here are the steps you need to follow to apply for the home loan balance transfer on financial marketplace.

  • Click on the ‘Apply Now’ option on this page

  • Enter your personal details in the online application form

  • Choose ‘Shriram Housing Finance’ from the list

  • Provide your preferred loan amount and repayment period

  • Submit the application form, and after verification, a representative will contact you for further steps

BSDA Account

FAQs

Are there any prepayment penalties or charges associated with transferring a home loan to Shriram Housing Finance?

Yes, the processing charges are up to 2.5% of the loan amount plus applicable taxes. There are no foreclosure charges for individual borrowers opting for floating-rate loans and, as per MITC, for fixed-rate loans.

Can I choose a different loan tenure when transferring my home loan to Shriram Housing Finance, and how does it affect the EMI?

Yes, you can choose a different loan tenure when you transfer your existing loan to Shriram Housing Finance. The EMI amount will be lower if you choose a longer tenure and vice-versa.

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