Home Loan Balance Transfer Loanfasttrack Email Id

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what is Home Loan Balance Transfer Service

What Is Balance Transfer ?

Home loan balance transfer means re-financing your current home loan.

It is a re-financing option to get the existing home loan in one bank transferred to another bank in order to avail the benefits of a lower interest rate.

Why Do Home Loan Balance Transfer
Why To Do Balance Transfer
  • Lowering your current interest rates which certainly reduces your EMI out go.
  • To get the top up loan on the value of your property. Use the appreciated amount of your home to your advantage and get a top up loan on that as well.
  • To extend your existing repayment period of loan tenure.

Balance Transfer Documentation

Salaried Employees

Self Employed/Professionals

1 Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority) Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
2 Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority) Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
3 Latest Salary-slips for 4 months Certificate & Proof of business existence along with Business Profile
4 Form 16 for last 2 years Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant
5 Last 6 months Bank Statements(salary account) Last 12 months Bank Account Statements (self & business)
6 Processing Fee Cheque in favour of bank. Processing Fee Cheque in favour of bank.
7 Photocopy of Title Documents of the Property, Approved Plan Copy etc. Photocopy of Title Documents of the Property, Approved Plan Copy etc.
8 Any other documents as requested for by the respective Financial Institution Any other documents as requested for by the respective Financial Institution
9 LOD Copy LOD Copy
10 18 months repayment track record 18 months repayment track record
10 Latest outstanding letter copy Latest outstanding letter copy

Balance Transfer TAX Benefits

Just like home loan, the interest payable on home loan balance transfer/home loan refinance is also subject to tax deductions.


Why Choose Loanfasttrack ?

Loanfasttrack is a free service provider. To secure your dream house, Loanfasttrack has a dedicated professional team which helps you to arrive at a smarter decision evaluating the attractive offers and best discounts from multiple banks.