Balance Transfer

BALANCE TRANSFER DOCUMENTATION

Documents Required for Home Loan & Personal Loan Balance Transfers

Balance Transfer for Home Loans & Personal Loans, like most other financial products has fairly stringent documentation requirements. In order to help you understand the documents you need to keep handy before applying for a loan, we have compiled a list of items that can be of use to you

The following documents are required by financial institutions to process a home loan balance transfer.

  • Pan card
  • Company ID card
  • Residence proof
  • Self owned residence ñ Latest Electricity Bill / Landline Bill / Credit Card Bill.
  • Rented residence ñ Current rent agreement with latest electricity of the flat, with a permanent residence proof.
  • Latest CTC
  • Latest Salary slip for the last 3 months
  • Till Date salary account statement bank statement for last 6 months
  • Form No.16 – Latest.
  • Loan Repayment Track Records (if any)
  • Forecloser Letter & List of Original Documents kept with the bank (These letters are to be obtained from the existing bank from where the loan is active. [Original letters obtained to be submitted.])
  • Property Documents in case of Residential / Commercial premises
  • Photocopies of all documents relating to the property to be mortgaged. [Original Documents will be collected at the time of disbursement]

Eligibility for Balance Transfer

For Home Loan & Personal Loan Balance Transfer (BT)

Balance Transfer Loans have a fair amount of eligibility criteria that can help you obtain the right deal. Below, we will list some of these requirements to help you get a Balance Transfer for your loan.

Resident Indian: Salaried or Self-employed

Vintage of at least six months

Good repayment track record