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.
Here are the interest rates and charges you need to be aware of before opting for this facility:
11.50% p.a. onwards
Up to 300 months or 25 years of repayment tenure (subject to your retirement age)
*Disclaimer: The mentioned rates and charges are subject to change at the lender’s discretion.
at % interest rate for months
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.
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:
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.
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)
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
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.
Here are the steps you need to follow to apply for the home loan balance transfer:
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
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.
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.