Shriram Loan Against Property Balance Transfer

Shriram Housing Finance Limited (SHFL) is a part of the 40 years old Shriram Group. It is a housing finance organisation which started its business in December 2011. Its headquarters is situated in Mumbai with 85 branches spread across the country and 800 employees.

They offer the facility of Loan Against Property Balance Transfer. You can transfer your outstanding balance of your home loan from other financiers to SHFL at lower interest rates and reap the benefits of flexible repayment tenures. 

With SHFL, you also get customised loans against property balance transfer solutions. You can apply for Shriram Loan Against Property Balance Transfer on Bajaj Markets, with no stress of visiting any offline financial institution.

Shriram Loan Against Property Balance Transfer Details

The table mentioned below shows all the details related to Shriram Loan Against Property Balance Transfer:

Key Features and Benefits

Shriram Loan Against Property Balance Transfer offers a lot of benefits. Here are a few of them:

• Convenient EMI Plan

They offer flexible repayment plans, ranging up to 300 months. You can opt for the one that best suits your financial goals and requirements.

• 100% Transparency

There are no additional or hidden charges involved in the loan disbursement procedure. 

• Smooth Transfer Process

A smooth 100% online process enables you to transfer Loan Against Property with no requirement of any additional documents, providing you with a seamless experience.

• Attractive  Interest Rates

Shriram Housing Finance Limited allows you to transfer your Loan Against Property at interest rates starting at a percentage as low as 12.50%.

• Simple Documentation Process

You need to submit minimal documents to complete the application process.

Eligibility Criteria

In order to be eligible for loan against property balance transfer, you need to fulfil the following criteria:

• As a salaried employee, you must have a work experience of 2 years or more during the application process. Whereas, if you are a self-employed individual, you must have worked in their respective field for at least 3 years at the time of application.

• Your monthly income should be more than Rs 30,000.

• During the process of application, you must be more than 25 years of age. It is also to be noted that you must be below 70 years of age during the loan maturity. 

Documents Required

You are required to submit minimal documents to complete the loan application process. Here’s a list of the documents you must submit for your balance transfer:

• You must have a completed loan application form.

• You must show a proof of identification, age, and address from one of the following documents: 

• Driving licence

• Passport

• Voter’s ID card

• PAN card

• Employee ID

• Bank passbook

• Utility bill (electricity, gas, water, telephone) which is less than two months old.

• LIC policy receipt.

• Letter from a recognized public authority verifying the customer’s residence address

• Ration card

• 10th marksheet

You must show a proof of your income by submitting the following documents (applicable only for salaried employee):

• Form 16

• Letter of your increment or promotion

• Pay slip of the last two months with respect to the date of loan application

• IT returns of the last three years

• Passport-size photograph

• Proofs of your investments (stocks, shares, FDs, mutual funds, etc.) 

• Updated bank statement of last six months with respect to the date of the loan application 

• Letter of certification from the employer

You must show a proof of your income by submitting the following documents (applicable only for self-employed individuals):

• Duly attested copy by a CA of the last 3 years Income tax returns of the last three months and last 2 years Balance Sheet and Profit & Loss account of the firm, along with computation of income

• Passport size photographs, photocopy of certificate of registration, establishment, deduction of profession tax, practice, and proof of your investments

• A brief introduction of your profession or business

You are required to submit a proof of your property documents by submitting the following documents:

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

• Original of the land tax paid receipt and possession certificate as issued by the revenue authority

• Original No Objection Certificate (NOC) from the housing society or builder Detailed estimate of the cost of construction of house

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

• An approved copy of the building plan (key plan/floor plan in case of purchase of flats)

• Letter of allotment given by the housing board, society, or the private builder

• Original copy of your sale deed, agreement of sale with the builder 

How to Apply for Shriram Housing Finance Loan Against Property Balance Transfer Online?

• Step 1: Enter your personal and income details to get eligibility for home loan balance transfer instantly.

• Step 2: Select Shriram Housing Finance Limited from the list of given partners to choose your lender.

• Step 3: Estimate your borrowing power.

• Step 4: Enter your requirements and other necessary property details.

• Step 5: Unlock your loan details as well as your net disbursal amount, followed by which, an expert will contact you to help you proceed your application process.

CONTACT DETAILS

You can easily contact the SHFL team in case you wish to address your concerns or queries. Here are a few ways you can follow:

Visit Office: You can visit their registered or head office at the below mentioned address:

• Registered Office: No.123, Angappa Naicken Street, Chennai - 600001.

• Head Office: Shriram Housing Finance Limited, Level 3, Wockhardt Towers, East Wing, Bandra Kurla Complex, Mumbai - 400051.

Send an Email: You can write to them at contact@shriramhousing.in.

Give a Call: You can call on their toll free number 1800 102 4345.