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Indiabulls Home Loan Balance Transfer

Home Loan Transfer to Indiabulls: Details

Last Updated 12th Nov 2021

Interest Rate8.65%
Processing FeeNil
Lowest EMI per lakh₹ 815
Loan Tenure25 years
  • Indiabulls offers a home loan balance transfer facility at low interest rates starting at 8.65% for a tenure of upto 25 years.
  • You can transfer your home loan to Indiabulls to reduce EMIs and save more on interest.
  • Avail home loan top up from Indiabulls at the time of loan balance transfer to fulfil additional fund requirements.
Calculate Savings, Check Best Offers Get upto ₹ 1,000* Cashback

Indiabulls Home Loan Transfer

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

Indiabulls Home Loan Balance Transfer Charges

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

Indiabulls Home Loan Transfer Rates 8.65%
Processing Fees Upto 1.00%
Prepayment Charges Nil for individuals in case of floating home loan rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Features of Indiabulls Home Loan Transfer

Here are key features of the balance transfer scheme:

  • Lower Interest Rates: Indiabulls offers lower home loan rates starting at 8.65% along with Nil processing on home loans. Thus, you can save on your home loan by transferring your loan to Indiabulls.
  • Top-up Loans: If you have a good CIBIL score and fulfil the eligibility criteria of Indiabulls, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With this Indiabulls home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount.

Eligibility for Indiabulls Home Loan Transfer

To transfer your home loan to Indiabulls, you must fulfil the following eligibility criteria:

  • First, you must have an existing home loan with any bank except for Indiabulls.
  • Second, you must have obtained a NOC (No-Objection Certificate) for transferring your home loan to Indiabulls.
  • You must be an Indian resident within the age criteria of Indiabulls. The minimum & maximum age to avail a Indiabulls home loan takeover is 23 and 65 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.
    • Use Indiabulls home loan balance transfer calculator to estimate the best balance transfer offers and costs associated with it.

Process to Transfer Your Existing Home Loan to Indiabulls

The home loan balance transfer process to Indiabulls is smooth and quick. To transfer your existing home loan to Indiabulls, 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 Indiabulls 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 Indiabulls and request them to transfer your loan and pay off your outstanding amount to the existing bank.
  • Indiabulls 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 Indiabulls will be completed.

Document Required for Indiabulls Home Loan Transfer

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

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
  • 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 Indiabulls?

Yes, transferring your home loan to Indiabulls is a good idea for home loan borrowers as Indiabulls provides lower home loan rates starting at 8.65%, and minimal processing fee is Nil.

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

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

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

Yes, Indiabulls charges home loan transfer fees. Apart from that, you would also have to pay prepayment/ foreclosure charges as per your existing bank. As the amount will be transferred to a new bank, the processing fee will also be levied accordingly.

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

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

How can I check the status of my Indiabulls home loan balance transfer?

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


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Indiabulls Home Loan News - Dec 2021
  • 2021-11-12 : Indiabulls Housing Finance Reports Loss by 11.4%
    Indiabulls Housing Finance has reported a fall in profit in quarter 2 for the fiscal year by 11.4%. As a result, the revenue from operations has also fallen by 13.5%.
  • 2021-05-19 : Indiabulls Housing Finance Q4 net profit up 102%
    Indiabulls Housing Finance Ltd has posted a 102% rise in net profit at Rs276cr for the fourth quarter ended March 2021 as against Rs137cr in same quarter of FY20. Its loan book which includes home, personal, two-wheeler, car , gold, education and doctor loans shrunk to Rs66,047cr in March 2021 from Rs73,065cr in March 2020. Further, Its net profit for FY21 was down at Rs1,201cr from Rs2,199cr.
  • 2021-04-23 : Indiabulls Housing Finance planning to become a loan originator
    Indiabulls joined hands with HDFC. Under the partnership, Indiabulls will originate and process retail home loans as per jointly formulated credit parameters and eligibility criteria. Of these loans, 80% will be on HDFC’s books, while Indiabulls will retain 20%. The loans will be serviced by Indiabulls throughout their lifecycle. HDFC with its access to deposits, cheap cost of funds, simple process and integration is expected to offer Indiabulls the benefit of a large franchise, scale and a robust credit appraisal process.
  • 2021-02-24 : Indiabulls Housing Finance issues foreign currency convertible bonds (FCCBs)
    Indiabulls Housing Finance Limited has issued Foreign Currency Convertible Bonds (FCCBs) to raise US$200 million. The securities issuance committee has fixed the floor price at Rs227.09 per FCCB.
  • 2019-07-15 : Borrowers to get loans easily as Indiabulls enables online loan application processing across various platforms
    One of the leading home loan providers, Indiabulls has enabled online loan application processing over various platforms, allowing customers to apply for loans anytime, anywhere. The loan seekers can apply for personal loans through its app, Dhani after online verification through e-KYC and e-sign using the Aadhaar facility.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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