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Home Loan Balance Transfer - Switch to Aavas and Save Big

Transferring your home loan to a new bank / HFC can be a good option if the new bank / HFC offers a low interest rate or additional top-up loan. The following guide will help you in transferring your balance loan to a new bank / HFC, with an ease. A penny saved is a penny earned. Now you can have more money at your disposal to spend the way you like. Reduce the burden of your existing loans by transferring them to Aavas and avail the benefit of lower EMIs with our Balance Transfer product.

Apply For Home Loan Balance Transfer Calculate Your BT Loan EMI

When you take a home loan, it is for a long duration i.e. almost up to 30 years. However, it is not necessary that you continue with the same financial institution for all those years. There is a facility that allows you to opt for a home loan balance transfer option where you can shift your loan to any other lender. There are benefits like a lower rate of interest, better customer service, easy top-up loans, etc. that one can have by choosing the home loan balance transfer option.

Features of Aavas Balance Transfer Loan

  • You can transfer your home loans availed from other institutions to Aavas and get a benefit of the additional top-up loan.
  • Attractive interest rates
  • Tenure of up to
    • 30 years for salaried customers (from government/ PSU/ Private sector) with more than ₹ 35,000/Month
    • 25 years for other salaried customers
    • 20 years for self-employed customers.
  • Integrated branch network that facilitates loan servicing at a branch convenient to you.

Required for Home Loan Balance Transfer

Identity Proof

Your PAN Card is mandatory, and any one of these:

  • Passport
  • Voter ID
  • Aadhar Card
  • Driving License
Address Proof
  • Passport
  • Voter ID
  • Aadhar Card
  • Electricity bill/ water bill/ telephone bill
  • Driving License
Proof of Income
  • Salary Slips/Bank Statement/Form 16
  • Salary Certificate
Other Documents
  • Signed Application Form with Picture
  • Cheque For Processing Fee
  • Bank Statement of Last 6 Months
Property Documents
  • A letter on the letterhead of the existing lender stating the list of property documents held by them
  • Latest outstanding letter from an existing financial institution on their letterhead
  • Photocopy of the property documents
Identity Proof

Your PAN Card is mandatory, and any one of these:

  • Passport
  • Voter ID
  • Aadhar Card
  • Driving License
Address Proof
  • Passport
  • Voter ID
  • Aadhar Card
  • Electricity bill/ water bill/ telephone bill
  • Driving License
Proof of Income
  • IT Returns and/or Financial Statements of last 3 years And/or
  • Informal Income Documents
Other Documents
  • Signed Application Form With Picture
  • Cheque For Processing Fee
  • Proof of business existence
Property Documents
  • A letter on the letterhead of the existing lender stating the list of property documents held by them
  • Latest outstanding letter from an existing financial institution on their letterhead
  • Photocopy of the property documents

 Click to get more details about the Documents Required for Home Loan Balance Transfer

Need Assistance?
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Loan Amount, i.e=1000000

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Ratings and Reviews

Praveen Verma
5/5

Best experience with Aavas Financiers. We applied for a loan from there. They provided the best deal with the best ROI. Thanks Aavas and team.

Posted on: 30-Aug-22
Narayan Pareek
5/5

Aavas Mobile App is really useful and provides good services in the way related to the availed loan.

Posted on: 24-Dec-22

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