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Piramal Housing Finance Home Loan Balance Transfer

Home Loan Transfer to Piramal Housing Finance: Details

Last Updated 20th Apr 2021

Interest Rate9.00%
Processing FeeNil
Lowest EMI per lakh₹ 805
Loan Tenure30 years
  • Piramal Housing Finance offers a home loan balance transfer facility at low interest rates starting at 9.00% for a tenure of upto 30 years.
  • You can transfer your home loan to Piramal Housing Finance to reduce EMIs and save more on interest.
  • Avail home loan top up from Piramal Housing Finance at the time of loan balance transfer to fulfil additional fund requirements.
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Piramal Housing Finance Home Loan Transfer

Piramal Housing Finance, 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 Piramal Housing Finance at the lowest interest rates. To transfer your housing loan to Piramal Housing Finance, you must have regularly paid the EMIs for a minimum tenure of 6-12 months and fulfil other eligibility criteria of Piramal Housing Finance.

Piramal Housing Finance Home Loan Balance Transfer Charges

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

Piramal Housing Finance Home Loan Transfer Rates 9.00%
Processing Fees Upto 0.10%
Prepayment Charges Nil for individuals in case of floating home loan rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Features of Piramal Housing Finance Home Loan Transfer

Here are key features of the balance transfer scheme:

  • Lower Interest Rates: Piramal Housing Finance offers lower home loan rates starting at 9.00% along with Nil processing on home loans. Thus, you can save on your home loan by transferring your loan to Piramal Housing Finance.
  • Top-up Loans: If you have a good CIBIL score and fulfil the eligibility criteria of Piramal Housing Finance, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With this Piramal Housing Finance home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount.

Eligibility for Piramal Housing Finance Home Loan Transfer

To transfer your home loan to Piramal Housing Finance, you must fulfil the following eligibility criteria:

  • First, you must have an existing home loan with any bank except for Piramal Housing Finance.
  • Second, you must have obtained a NOC (No-Objection Certificate) for transferring your home loan to Piramal Housing Finance.
  • You must be an Indian resident within the age criteria of Piramal Housing Finance. The minimum & maximum age to avail a Piramal Housing Finance home loan takeover is 23 and 60 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.
    • Use Piramal Housing Finance 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 Piramal Housing Finance

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

Document Required for Piramal Housing Finance Home Loan Transfer

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

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 Piramal Housing Finance?

Yes, transferring your home loan to Piramal Housing Finance is a good idea for home loan borrowers as Piramal Housing Finance provides lower home loan rates starting at 9.00%, and minimal processing fee is Nil.

How can I transfer my Piramal Housing Finance home loan from one branch to another?

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

Are there any charges while applying for Piramal Housing Finance home loan balance transfer?

Yes, Piramal Housing Finance 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 Piramal Housing Finance home loan balance transfer?

If you apply for a home loan transfer to Piramal Housing Finance, 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 Piramal Housing Finance home loan balance transfer?

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


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Piramal Housing Finance Home Loan News - Nov 2021
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*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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