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Tata Capital Home Finance Home Loan Balance Transfer

Home Loan Transfer to Tata Capital Home Finance: Details

Last Updated 29th Apr 2021

Interest Rate6.90%
Processing Fee₹ 500
Lowest EMI per lakh₹ 659
Loan Tenure30 years
  • Tata Capital Home Finance offers a home loan balance transfer facility at low interest rates starting at 6.90% for a tenure of upto 30 years.
  • You can transfer your home loan to Tata Capital Home Finance to reduce EMIs and save more on interest.
  • Avail home loan top up from Tata Capital Home Finance at the time of loan balance transfer to fulfil additional fund requirements.
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Tata Capital Home Finance Home Loan Transfer

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

Tata Capital Home Finance Home Loan Balance Transfer Charges

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

Tata Capital Home Finance Home Loan Transfer Rates 6.90%
Processing Fees Upto 0.20% Minimum ₹ 500
Prepayment Charges Nil for individuals in case of floating home loan rates
Memorandum of Deposit of Title Deed 0.2%-0.5%

Features of Tata Capital Home Finance Home Loan Transfer

Here are key features of the balance transfer scheme:

  • Lower Interest Rates: Tata Capital Home Finance offers lower home loan rates starting at 6.90% along with ₹ 500 processing on home loans. Thus, you can save on your home loan by transferring your loan to Tata Capital Home Finance.
  • Top-up Loans: If you have a good CIBIL score and fulfil the eligibility criteria of Tata Capital Home Finance, you can also avail top-up loan above your existing home loan.
  • Extended Loan Tenure: With this Tata Capital Home Finance home loan balance transfer facility, you can also extend the repayment tenure depending on your loan amount.

Eligibility for Tata Capital Home Finance Home Loan Transfer

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

  • First, you must have an existing home loan with any bank except for Tata Capital Home Finance.
  • Second, you must have obtained a NOC (No-Objection Certificate) for transferring your home loan to Tata Capital Home Finance.
  • You must be an Indian resident within the age criteria of Tata Capital Home Finance. The minimum & maximum age to avail a Tata Capital Home Finance home loan takeover is 24 and 65 Years respectively.
  • You must have paid more than 12 EMIs on your home loan.
    • Use Tata Capital 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 Tata Capital Home Finance

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

Document Required for Tata Capital Home Finance Home Loan Transfer

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

Yes, transferring your home loan to Tata Capital Home Finance is a good idea for home loan borrowers as Tata Capital Home Finance provides lower home loan rates starting at 6.90%, and minimal processing fee Of ₹ 500.

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

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

Yes, Tata Capital 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 Tata Capital Home Finance home loan balance transfer?

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

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


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Tata Capital Home Finance Home Loan News - Dec 2021
  • 2021-04-01 : Tata Capital Home Finance revised its home loan rates to 6.90%
    Tata Capital Home Finance revised its home loan rates. The revised home loan rate starts at 6.90%.
*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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