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Sundaram Home Finance Home Loan Balance Transfer

Home Loan Transfer to Sundaram Home Finance: Details

Last Updated 03rd Jun 2021

Interest Rate6.95%
Processing FeeNil
Lowest EMI per lakh₹ 772
Loan Tenure20 years
  • Sundaram Home Finance offers a home loan balance transfer facility at low interest rates starting at 6.95% for a tenure of upto 20 years.
  • You can transfer your home loan to Sundaram Home Finance to reduce EMIs and save more on interest.
  • Avail home loan top up from Sundaram Home Finance at the time of loan balance transfer to fulfil additional fund requirements.
Calculate Savings, Check Best Offers Get upto ₹ 1,000* Cashback

Sundaram Home Finance Home Loan Transfer

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

Sundaram Home Finance Home Loan Balance Transfer Charges

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

Sundaram Home Finance Home Loan Transfer Rates 6.95%
Processing Fees
Prepayment Charges Nil for individuals in case of floating home loan rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Features of Sundaram Home Finance Home Loan Transfer

Here are key features of the balance transfer scheme:

  • Lower Interest Rates: Sundaram Home Finance offers lower home loan rates starting at 6.95% along with Nil processing on home loans. Thus, you can save on your home loan by transferring your loan to Sundaram Home Finance.
  • Top-up Loans: If you have a good CIBIL score and fulfil the eligibility criteria of Sundaram Home Finance, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With this Sundaram Home Finance home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount.

Eligibility for Sundaram Home Finance Home Loan Transfer

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

  • First, you must have an existing home loan with any bank except for Sundaram Home Finance.
  • Second, you must have obtained a NOC (No-Objection Certificate) for transferring your home loan to Sundaram Home Finance.
  • You must be an Indian resident within the age criteria of Sundaram Home Finance. The minimum & maximum age to avail a Sundaram Home Finance home loan takeover is 21 and 60 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.
    • Use Sundaram Home 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 Sundaram Home Finance

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

Document Required for Sundaram Home Finance Home Loan Transfer

To avail of home loan balance transfer from Sundaram Home Finance, you need to submit the following documents to Sundaram Home 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 Sundaram Home Finance?

Yes, transferring your home loan to Sundaram Home Finance is a good idea for home loan borrowers as Sundaram Home Finance provides lower home loan rates starting at 6.95%, and minimal processing fee is Nil.

How can I transfer my Sundaram Home Finance home loan from one branch to another?

To transfer your Sundaram Home Finance home loan from one branch to another, you can request through net banking/mobile banking. Sundaram Home 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 Sundaram Home Finance home loan balance transfer?

Yes, Sundaram Home 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 Sundaram Home Finance home loan balance transfer?

If you apply for a home loan transfer to Sundaram Home 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 Sundaram Home Finance home loan balance transfer?

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


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Sundaram Home Finance Home Loan News - Dec 2021
  • 2021-06-03 : Sundaram Home Finance revised its home loan rates
    With effect from 1 June 2020, Sundaram Home Finance revised its home loans rates. The new home loan rates start from 6.95%
  • 2021-05-24 : Sundaram Home Finance reported a 68% jump in Q4 profit
    Sundaram Home Finance registered a net profit of Rs36.60cr for the Q4 ended 31st March 2021. Profit from Continuing Operations for Q4 ended 31st March 2021 went up 68% to Rs36.60cr. Loans which includes home, LAP, personal, two-wheeler, car, doctor and education loan along with business and mudra loans went up 18% to Rs459.38cr. Further, the deposit which includes FD and RD went up to Rs1810cr as of 31st March 2021.
  • 2021-01-27 : Sundaram Home Finance Q3 net rose by 36%
    Sundaram Home Finance posted a 36% growth in its net profit for Q3 to Rs 56.24cror. Disbursements for Q3 stood at Rs 4,16.57 crore backed by home, personal, car, two wheeler and gold loans along with business and mudra loans.
  • 2020-11-10 : Sundaram Finance posts ₹192-crore profit in Q2
    Sundaram Finance recorded net profits at Rs 192 crore backed by retail loans like home, personal, gold, two-wheeler and car loan along with business and mudra loans for the quarter ending September 30, 2020. It posted net profits at Rs 269 crore during the corresponding quarter previous year. The company reported disbursements of Rs 3,174 crore in Q2, against Rs 3,832 crore in the year-ago period.
  • 2020-08-11 : Sundaram Finance Ltd posts Rs. 269.26 crore consolidated net profit in Q1
    Sundram Finance reported a net profit of Rs.269.26 crores for the period ended June 30, 2020, as against a net profit of Rs.195.64 crores for the period ended March 31, 2020. It reported total income of Rs.1276.98 crores aided by home loans during the period ended June 30, 2020.
*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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