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ICICI Bank ICICI Bank

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BEST FOR

Easy and hassle-free loan transfer process

  • Instant Provisional Sanction

  • Minimal Documentation

  • Long Tenure

  • Get additional funds with Top-Up facility

 

 

 

 

About Home Loan Balance Transfer

What is a Home Loan Balance Transfer?

A Home Loan Balance Transfer involves transferring your current Home Loan from your existing lender to a new one that offers more favourable terms. This can include better repayment options and the possibility of reducing your financial burden by switching to a more competitive lender.

Benefits of Transferring your Home Loan

Transferring your Home Loan offers multiple advantages. These include reduced EMIs, the potential for an additional Top-Up Loan and an extended repayment tenure. By shifting to a better lender, you can significantly save on interest, while improving your loan terms and repayment flexibility.

Home Loan Balance Transfer FAQs

Balance Transfer a good option for my Home Loan?

Yes, transferring your Home Loan to a lender can give you an extended tenure and reduced EMIs. Use a Balance Transfer Calculator to compare savings before deciding.  

What are the eligibility criteria for a Home Loan Balance Transfer?

To be eligible for a Home Loan Balance Transfer, you must have a good repayment track record with your existing lender. Additionally, a CIBIL score of 700+ (salaried &  self-employed) is required. Other factors like employment stability and property details may also be considered.

Can I avail of a Top-Up Loan while transferring my Home Loan?

Yes, ICICI Bank offers a Top-Up facility along with the Home Loan Balance Transfer. This allows you to get additional funds for personal or home-related expenses, without applying for a separate loan.

How long does the Home Loan Balance Transfer process take?

The home loan take over process typically takes a few days, depending on document verification and approval. With ICICI Bank’s online application and quick provisional sanction, you can get approval instantly, speeding up the overall process.

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