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Reliance Capital Home Loan Balance Transfer

Home Loan Transfer to Reliance Capital

Last Updated 26th Sep 2017

Interest Rate10.00%
Processing Fee₹ 3,000
Lowest EMI per lakh₹ 878
Loan Tenure30 years
  • Reliance Capital offers home loan balance transfer facility at low interest rates starting at 10.00% for a tenure of upto 30 years.
  • Transfer home loan to Reliance Capital to reduce EMIs and save more on interest.
  • Avail top up from Reliance Capital at the time of loan balance transfer to fulfil additional fund requirements.
Calculate Savings, Check Best Offers Get upto ₹ 1,000* Cashback

Reliance Home Loan Transfer

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

Reliance Capital Home Loan Balance Transfer Charges

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

Home Loan Rates 6.75%
Processing Fees Upto 1.00% Minimum ₹ 3,000 and Maximum ₹ 6,500
Prepayment Charges Nil for individuals for floating rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Process of Reliance Capital Home Loan Transfer

To transfer your existing home loan to Reliance Capital, 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 Reliance Capital 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 Reliance Capital and request them to transfer your loan and pay off your outstanding amount to the existing bank.
  • Reliance Capital 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 Reliance Capital will be completed.

Eligibility for Reliance Capital Home Loan Transfer

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

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

Features Of Reliance Capital Home Loan Transfer

Here are key features of Reliance Capital Home Loan Transfer:

  • Lower Interest Rates: Reliance Capital offers lower home loan rates starting at 6.75% along with ₹ 3,000 processing on home loans. Thus, you can save on your home loan by transferring your loan to Reliance Capital.
  • Top-up Loans: If you have a good CIBIL score & fulfil the eligibility criteria of Reliance Capital, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With Reliance Capital home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount & the negotiation with the Reliance Capital.

Document Required for Reliance Home Loan Transfer

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

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 Reliance?

Yes, transferring your home loan to Reliance Capital is a good idea for home loan borrowers as Reliance Capital provides lower home loan rates starting at 10.00%.

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

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

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

Yes, Reliance Capital charges home loan transfer fees such as ₹ 3,000 for Reliance Capital 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 Reliance home loan balance transfer?

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

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

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


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Reliance Home Loan News - Jun 2021
  • 2017-05-06 : Reliance Capital receives no objection from the BSE and NSE for demerger
    Reliance Capital Limited has received ‘no-objection’ from both the BSE and NSE for demerger of Reliance Home Finance. The company has further reported that it has filed the scheme of demerger with the National Company Law Tribunal (NCLT) for facilitating the independent listing of the home finance unit on stock exchanges.
  • 2015-12-17 : Reliance Housing Finance targets Rs 50,000 crore AUM by 2020
    Reliance is targeting AUM of Rs 50,000 crore by 2020 as it aims to join top-five league in the home loan market in 3 years
  • 2015-12-14 : Reliance Housing Finance eyes slot in top 5
    Reliance Housing plans to be amongst the top five HFCs in the next 3 years with a target AUM of Rs 50,000 crore by 2020
  • 2015-11-04 : Reliance Housing Finance lowers home loan rates to 9.55%
    Reliance Housing Finance has announced a 25 basis point reduction in its lending rates to 9.55% matching with the rates offered by Indiabulls and DHFL
*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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