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Dhan Laxmi Bank Home Loan Balance Transfer

Home Loan Transfer to Dhan Laxmi Bank

Last Updated 03rd Jun 2021

Interest Rate7.40%
Processing Fee₹ 10,000
Lowest EMI per lakh₹ 799
Loan Tenure20 years
  • Dhan Laxmi Bank offers home loan balance transfer facility at low interest rates starting at 7.40% for a tenure of upto 20 years.
  • Transfer home loan to Dhan Laxmi Bank to reduce EMIs and save more on interest.
  • Avail top up from Dhan Laxmi Bank at the time of loan balance transfer to fulfil additional fund requirements.
Calculate Savings, Check Best Offers Get upto ₹ 1,000* Cashback

Dhan Laxmi Home Loan Transfer

Dhan Laxmi, the largest Private Bank in India, offers the facility to transfer your home loans from the existing scheduled commercial, private and foreign banks and housing finance companies to Dhan Laxmi Bank at lowest interest rates. To transfer your housing loan to Dhan Laxmi Bank, you must have regularly paid the EMIs for a minimum tenure of 6-12 months and fulfil other eligibility criteria of Dhan Laxmi.

Dhan Laxmi Bank Home Loan Balance Transfer Charges

Before you decide to transfer your home loan to Dhan Laxmi Bank, compare and calculate all the costs of loan transfer. The table below mentions Dhan Laxmi Bank home loan transfer interest rate and other home loan transfer charges of Dhan Laxmi Bank.

Home Loan Rates 6.75%
Processing Fees Upto 1.00% Minimum ₹ 10,000
Prepayment Charges Nil for individuals for floating rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Process of Dhan Laxmi Bank Home Loan Transfer

To transfer your existing home loan to Dhan Laxmi Bank, you need to follow the steps as mentioned below:

  • Submit the request to transfer your home loan to your existing bank by addressing a loan transfer letter. To place a request, you would also need to ask about the transfer of title deeds and other securities to Dhan Laxmi Bank upon receipt of the loan amount.
  • On the review of your application, your bank will issue a No Objection Certificate (NOC).
  • Submit the NOC to Dhan Laxmi Bank and request them to transfer your loan and pay off your outstanding amount to the existing bank.
  • Dhan Laxmi Bank will then validate the NOC, sanction your loan and pay off your dues to the existing bank.
  • Your existing bank will issue a confirmation letter stating the equitable mortgage over the property.
  • Your existing bank will close your loan account and cancel all cheques or standing instructions related to your loan.
  • Finally, your home loan transfer to Dhan Laxmi Bank will be completed.

Eligibility for Dhan Laxmi Bank Home Loan Transfer

To transfer your home loan to Dhan Laxmi Bank, you must fulfil the following eligibility criteria:

  • You must have an existing home loan with any bank except for Dhan Laxmi.
  • You must have obtained a NOC (No-Objection Certificate) for transferring your home loan to Dhan Laxmi Bank.
  • You must be an Indian resident and fulfil the age criteria of Dhan Laxmi Bank. The minimum & maximum age to avail a Dhan Laxmi Bank home loan is 21 and 60 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.

Features Of Dhan Laxmi Bank Home Loan Transfer

Here are key features of Dhan Laxmi Bank Home Loan Transfer:

  • Lower Interest Rates: Dhan Laxmi Bank offers lower home loan rates starting at 6.75% along with ₹ 10,000 processing on home loans. Thus, you can save on your home loan by transferring your loan to Dhan Laxmi Bank.
  • Top-up Loans: If you have a good CIBIL score & fulfil the eligibility criteria of Dhan Laxmi Bank, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With Dhan Laxmi Bank home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount & the negotiation with the Dhan Laxmi Bank.

Document Required for Dhan Laxmi Home Loan Transfer

To avail of home loan balance transfer from Dhan Laxmi, you need to submit the following documents to Dhan Laxmi.

Documents Required Accepted Valid Documents
Application Form with Photo Application Form of Primary Borrower and Co-borrower(s)
Identity Proof
  • Valid Passport
  • Aadhaar Card
  • Driving License
  • Photo Identity card issued by Govt. body
  • Letter from a recognized public authority
Residential Proof
  • Valid Passport
  • Voter Card
  • Aadhar Card
  • Latest Utility bill
  • Rent agreement on stamp Paper
  • Life Insurance Policy
  • Residence address Certificate by an employer on company letterhead
Age Proof
  • Primary Borrower
  • Co-borrower(s)
Income Proof
  • Last 3 years’ Form 16
  • Last 6 months salary slip
  • Last 6 months’ bank account statement showing salary credit
Other Documents
  • Loan statement
  • List of property documents (LOD) in possession of the existing lender.
  • Last 12 months' statement of the bank account from which loan EMI is paid

FAQs

Is it good to transfer a home loan to Dhan Laxmi?

Yes, transferring your home loan to Dhan Laxmi Bank is a good idea for home loan borrowers as Dhan Laxmi Bank provides lower home loan rates starting at 7.40%.

How can I transfer my Dhan Laxmi home loan from one branch to another?

To transfer your Dhan Laxmi Bank home loan from one branch to another, you can place your request through net banking/mobile banking. Dhan Laxmi Bank also allows the home loan transfer facility through phone banking by calling home loan customer care.

Are there any charges while applying for Dhan Laxmi home loan balance transfer?

Yes, Dhan Laxmi Bank charges home loan transfer fees such as ₹ 10,000 for Dhan Laxmi Bank home loan balance transfer. Apart from that, you would also have to pay prepayment/ foreclosure charges as per your existing bank.

What are the benefits of taking a Dhan Laxmi home loan balance transfer?

If you apply for a home loan transfer to Dhan Laxmi Bank, you can clear off your existing home loan at lower rates and save more on interest. Besides that, Dhan Laxmi Bank home loan balance transfer can also help you avail top-up on your existing home loan.

How can I check the status of my Dhan Laxmi Bank home loan balance transfer?

To know your Dhan Laxmi Bank home loan status, you can call Dhan Laxmi Bank home loan customer care number or visit Dhan Laxmi official website to check the status.


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Dhan Laxmi Home Loan News - Jun 2021
  • 2021-06-01 : Dhanlaxmi Bank posts ₹5.28 crore net profit in Q4
    Dhanlaxmi Bank reported a net profit of Rs 5.28 crore in the fourth quarter of FY2020-21, boosted by retail loans home, LAP, personal, two-wheeler, car education and doctor loan along with business and mudra loan. The bank had posted a net profit of Rs 2.60 crore in the year-ago same quarter.
  • 2020-08-03 : Dhanlaxmi Bank Ltd Q1FY21 net profit at Rs. 6.09 crore
    Dhan Laxmi posted a net profit of Rs.6.09 crores for the period ended June 30, 2020, as against a net profit of Rs.2.60 crores for the period ended March 31, 2020. In addition to this, The bank reported a total income bolstered by retail loans home, personal, car, two-wheeler and gold loans along with business and mudra loans of Rs.278.62 crores during the period ended June 30, 2020. Bank provisioning for bad loans and contingencies spiked to Rs 37.02 crore during the reported quarter of FY21 as against Rs 9.27 crore a year ago.
  • 2020-01-08 : Dhanlaxmi Bank revised interest rates on retail loans
    Dhanlaxmi Bank revised its home loan interest rate by 25 bps, which begins from 9.55%. It also changed the interest rate on personal loans, which lies between 12.90% to 16.10%. The rates are revised to lure home loan and personal loan buyers.
  • 2019-06-04 : Dhanlaxmi Bank revises MCLR rates across loan tenure
    Dhanlaxmi Bank has revised its Marginal Cost of Funds Based Lending Rate (MCLR) across all tenure for June. The move is supposed to make retail loans like housing loans and mortgage loans cheaper. Now for overnight and one month, the rate stands at 8.60%. For 3 months, the rate has been revised to 8.90%. While for 1 year the rate now stands at 9.90%. The revised rates are effective from June 1, 2019.
  • 2019-05-09 : Dhanlaxmi Bank reports a profit of Rs. 27.6 crores in Q4 of FY19
    Private sector lender, Dhanlaxmi Bank has reported strong growth of Rs. 27.6 crores in its net profit for the Q4 of FY19. The profit is boosted by strong growth across its retail loans segment including home loans and mortgage loans and SME loans.
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