An effective strategy to optimise your home loan is through a balance transfer. If you’re an HDFC Home Loan customer, understanding the nuances of an HDFC Home Loan Balance Transfer can lead to significant savings and more manageable monthly payments.
Switch to HDFC Home Loan Balance Transfer and Enjoy Lower Interest Rates!
HDFC Bank Home Loan Balance Transfer Highlights
| Highlights | Details |
|---|---|
| Interest Rate | 8.50% p.a. onwards |
| Processing Fees | Upto 0.50% of the loan amount or Rs. 3000/- whichever is higher |
| Tenure | Up to 30 years |
Check Out: HDFC Home Loan Interest Rates 2025
HDFC Home Loan Balance Transfer Interest Rates 2025
The table below highlights HDFC’s latest home loan balance transfer interest rates for 2025, applicable to both salaried and self-employed individuals. These rates vary based on the type of scheme and are linked to the prevailing policy repo rate.
| Special Housing Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals) | |
|---|---|
| Loan Slab | Interest Rates (% p.a.) |
| For All Loans* | Policy Repo Rate + 2.50% to 3.35%= 8.50% to 9.35% |
| Standard Balance Transfer Loan Rates for Salaried & Self Employed (Professionals & Non-Professionals) | |
|---|---|
| Loan Slab | Interest Rates (% p.a.) |
| For All Loans* | Policy Repo Rate + 2.70% to 3.55%= 8.70% to 9.55% |
Check Out: HDFC Home Loan EMI Calculator
HDFC Bank Home Loan Balance Transfer Eligibility Criteria
To qualify for a home loan balance transfer with HDFC Bank , you must meet certain eligibility criteria, including credit score, income, and other factors. Understanding these requirements will help you determine your eligibility.
| Criteria | Requirement |
|---|---|
| Age | 18 – 70 years |
| Profession | Salaried/ Self employed |
| Tenure | Up to 30 years |
| Nationality | Indian |
Check Out: HDFC Home Loan Eligibility Calculator
HDFC Bank Home Loan Balance Transfer Processing Fees and Other Charges
When transferring your home loan to HDFC Bank, there may be processing fees and other charges involved. It’s important to be aware of these costs to plan your transfer effectively.
| Loan Type / Product | Processing Fee |
|---|---|
| Resident Housing/Extension/Renovation/Refinance/Plot Loans (Salaried, SEP) | Up to 0.50% of loan amount or ₹3,000 (whichever is higher) |
| Resident Housing/Extension/Renovation/Refinance/Plot Loans (Self-Employed Non-Professionals) | Up to 1.50% of loan amount or ₹4,500 (whichever is higher) |
| NRI Loans | Up to 1.25% of loan amount or ₹3,000 (whichever is higher) |
| Value Plus Loans | Up to 1.50% of loan amount or ₹4,500 (whichever is higher) |
| Loans under HDFC Bank Reach Scheme | Up to 2.00% of loan amount |
| Re-appraisal after 6 months from sanction date | ₹2,000 |
Also Read: HDFC Home Loan Prepayment Calculator
Other Charges
| Charge Type | Description | Amount / Rate |
|---|---|---|
| Delayed Instalment Payment Charge | Delayed payment charges on overdue instalments | Up to 18% p.a. on overdue amount |
| Incidental Charges | Costs to cover case-specific legal and administrative expenses | As per actuals |
| Stamp Duty / MOD / MOE / Registration | Statutory charges related to mortgage or property documentation | As applicable in respective states |
| CERSAI & Other Regulatory Fees | Charges levied by regulatory bodies | As per actuals |
| Third-Party Charges (e.g., mortgage guarantee companies) | Fees payable to third-party service providers | As per actual charges |
Suggested Read: CIBIL Score Required for HDFC Home Loans
Pre-Payment / Part Payment Charges
| Loan Type | Condition | Charges |
|---|---|---|
| Floating Rate Term Loans | Part prepayment ≤ 25% of outstanding (once per FY) | Nil |
| Part prepayment > 25% of outstanding | 2.5% on excess amount | |
| Loan for non-business purpose (Individual borrowers) | Nil | |
| Loan for Micro & Small Enterprises | Nil | |
| Fixed Rate Term Loans | General prepayment | Up to 2.5% of principal outstanding |
| If loan is > 60 months old | Nil | |
| Loan ≤ ₹50 Lakh (Micro & Small Enterprises) | Nil | |
| Part prepayment ≤ 25% of outstanding (once per FY) | Nil | |
| Part prepayment > 25% of outstanding | 2.5% on excess amount |
Must Read: HDFC Home Loan for Corporate Employees
HDFC Bank Home Loan Balance Transfer Documents
To complete your home loan balance transfer with HDFC Bank, you will need to provide specific documents for verification and approval. These documents help facilitate the transfer process smoothly and ensure your eligibility.
Core Application and KYC Documents
| Item | Details / Acceptable Proofs |
|---|---|
| Application form & photos | Filled‑in form signed by all applicants + 3 passport‑size photographs |
| Identity proof | PAN (mandatory if loan > ₹10 Lakh), Passport, Aadhaar, Voter ID, Driving Licence |
| Address proof | Any of the above IDs or a registered rent agreement |
| Assets & liabilities | Self‑declared statement + proofs of LIC/NSC/KVP/Mutual Funds/Property |
| ITR verification | Latest ITR‑V / income‑tax verification report |
Suggested Read: HDFC vs SBI Home Loan
Income Documents
| Profile | Documents Required |
|---|---|
| Salaried | • Last 3 salary slips (1 for guarantor) • Form 16 + latest ITR • Employee ID card • Appointment/confirmation letters • 6‑month salary‑account statement |
| Self‑employed / Professionals | • Last 2 yr audited P&L & balance sheet • Business registration proof (GST, Shops & Est.) • IT returns, Form 26AS • 12‑month current‑account statement |
| Farmers / Agriculturists | • Income certificates for preceding 2 year (Gram Sevak/Talati) and last year (Block Revenue Officer) • Land records (Form 6, 7/12, 8A) |
| NRI / PIO / OCI | • Passport with valid visa / PIO proof • Overseas & NRE statements (6 months) • Overseas salary slips or business financials • Foreign credit‑bureau report, work permit |
Check Out: HDFC Home Loan Overdraft Facility
Banking and Existing‑Loan History
| Item | Details |
|---|---|
| Existing loan statement | Last 12‑month statement from current lender |
| Lender’s document list | Acknowledged list of original property papers held by current lender |
| Sanction letter | Copy of existing loan sanction terms |
| Foreclosure letter | If already issued, provide original/printout |
Note:
1. Every applicant / co‑applicant / guarantor must self‑attest each document.
2. Branch may seek extra income or title papers for clarity; comply promptly
Property Papers
| Property Stage | Mandatory Documents |
|---|---|
| Ready flat / house | Agreement for Sale approved blueprint Commencement & Completion Certificates Occupancy Certificate latest property‑tax receipt society registration & share certificate chain of title builder/seller receipts title clearance valuation report |
| Flat under construction | Agreement for Sale approved plan Commencement Certificate registered development agreement payment receipts title clearance valuation report |
| Self‑construction | Approved blueprint plot purchase payment proofs title clearance valuation report |
Note:
1. Every applicant / co‑applicant / guarantor must self‑attest each document.
2. Branch may seek extra income or title papers for clarity; comply promptly.
Also Read: HDFC Home Loan Statement Download
HDFC Bank Home Loan Balance Transfer Case Study
Home Loan Balance Transfer Case Study
This case study evaluates the financial impact of transferring a home loan balance from Axis Bank to HDFC Bank after 2 years of repayment. The analysis focuses on interest savings, revised EMIs, and total repayment amounts under the new loan terms.
Current Loan Details at Axis Bank
| Parameter | Value |
|---|---|
| Loan Amount | ₹60,00,000 |
| Interest Rate | 9.70% p.a. |
| Tenure | 30 years |
| EMI | ₹51,549/month |
| Total Interest Payable | ₹1,25,57,640 |
| Total Amount Payable | ₹1,85,57,640 |
| Key Insight | Over 90% of the initial EMIs go toward interest payments due to the long tenure. |
Loan Status After 2 Years
| Parameters | Details |
|---|---|
| No. of EMIs Paid | 24 |
| Total Amount Paid | ₹12,37,176 |
| Principal Repaid | ₹54,000 (approx) |
| Interest Paid | ₹11,83,176 |
| Remaining Principal | ₹59,26,200 |
After 2 years, only ₹54,000 of the principal is repaid, with ₹11.83 lakhs paid as interest.
Balance Transfer to HDFC Bank
| Parameters | Details |
|---|---|
| Transferred Balance | ₹59,26,200 |
| New Interest Rate | 8.50% p.a. |
| Remaining Tenure | 28 years |
| New EMI | ₹46,298/month |
| Total Interest Payable | ₹96,30,023 |
| Total Amount Payable | ₹1,55,56,223 |
Financial Impact Analysis
| Metric | Bank of Baroda (Current) | Balance Transfer (HDFC Bank) | Savings |
|---|---|---|---|
| Total Payment | ₹1,85,57,640 | ₹1,55,56,223 | ₹30,01,417 |
| Monthly EMI | ₹51,549 | ₹46,298 | ₹5,251/month |
| Total Interest Paid | ₹1,25,57,640 | ₹96,30,023 | ₹30,01,417 |
Key Findings
- Monthly Savings: ₹5,251 reduction in EMI.
- Total Savings: ₹30.01 lakhs over the loan tenure.
- Effective Interest Rate Reduction: From 9.70% to 8.50%, significantly reducing the cost of borrowing.
Also Read: How to Apply for HDFC Home Loan?
Home Loan Balance Transfer Interest Rates by Top Banks
| Bank | Transfer Rate |
|---|---|
| SBI | 8.50% p.a. onwards |
| HDFC Ltd | 8.50% p.a. onwards |
| LIC Housing Finance Ltd | 9.10% p.a. onwards |
| Axis Bank | Contact the bank |
| Bank of Baroda | 8.85% p.a. onwards |
| Canara Bank | 8.80% p.a. onwards |
| Union Bank of India | 9.00% p.a. onwards |
| IDFC First Bank | 8.85% p.a. onwards |
| Federal Bank | 8.80% p.a. onwards |
| Karur Vysya Bank | 9.00% p.a. onwards |
| Tamilnad Mercantile Bank | 9.45% p.a. onwards |
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Frequently Asked Questions
Benefits include lower interest rates, reduced EMIs, top-up loans up to ₹50 lakh, and customized repayment options.
Apply to HDFC, submit documents, get loan approval, and HDFC pays off your old lender. Your documents are then transferred to HDFC.
Floating-rate loans have no foreclosure charges; fixed-rate loans may have 1–3% prepayment penalties.
You need KYC, income proof, property papers, existing loan statements, and a foreclosure letter.
Yes, HDFC offers top-up loans up to ₹50 lakh along with the balance transfer, based on eligibility.
Use HDFC’s online refinance calculator to compare EMIs and interest payments before and after the transfer.
Yes, HDFC allows balance transfers for loans on both completed and under-construction properties.
Yes, NRIs, PIOs, and OCIs can transfer their home loans to HDFC with competitive interest rates.
It typically takes 5–7 working days once all documents are submitted and approved.
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