Balance Transfer

Loan For Home Purchase
  • SMHFC offers Balance Transfer facility, which enables a customer to transfer loan from any bank or institution.
  • SMHFC's Balance Transfer facility provides customers with lower ROIs, doorstep customer service and additional top ups which can be utilized towards a number of personal or business purposes.
  • Maximum loan amount is Rs. 35 lakh and maximum tenure is 20 years.
  • Balance Transfer your home loan from any other financial instituition to SMHFC for competitive rates and highly customer focused services.
  • Eligibility & Documentation

    We at SMHFC understand that every customer has varied needs, sources of income and documentation availability. We provide tailor-made solutions based on customer requirements. The final eligibility of a customer is decided on a number of factors including (but not) restricted to income stability, repayment capacity, past credit record and positive verification

  • Rate & Charges
    Loan Terms
    Loan Amount Minimum Rs. 1 lakh & maximum Rs 35 lakh higher amounts can be considered on exception basis.
    Tenure Maximum 20 Years
    Interest Rate 11% onwards
    Processing Fee 2% - 3% (+GST) of the loan amount
    Prepayment Charges NIL
    Loan to Value Maximum 80%.
    Security Equitable mortgage (by deposit of title deeds) on the property being financed. A registered mortgage may be insisted upon wherever necessary.
    Repayment Through customer's electronic standing instruction (NACH) for all Equated Monthly Installments (EMIs).
    MITC SMHFC will adhere to the Most Important Terms and Conditions ("MITC") on all loans as prescribed by the National Housing Bank.
    Other Conditions SMHFC will facilitate customers to take a mortgage redemption policy through SMHFC's tie up with HDFC Life. The exact insurance amount will depend on the age, loan amount & loan tenure.
    To read document retrieval and other charges, Click Here
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  • Calculators
  • FAQs
    • What is a Balance Transfer Loan?

      It is a loan that can be availed by transferring your current outstanding home loan availed from one Financial Institution to SMHFC.
      Customers usually transfer their loans to enjoy lower rates of interest, personalised customer service, avail additional top up loan, etc.

    • What is the process of home loan transfer?

      A home loan transfer is a simple process.
      At SMHFC, we understand and appreciate the fact that every customer might not have the same type of documentation. We provide customised solutions to ensure that maximum customers can enjoy our hassle-free services.

      To know more about the process of a home loan transfer, feel free to call our toll free number - 1800-1234-427 or directly inquire on our website - Loan Enquiry | Online Form | SvatantraMHFC

    • What are the documents I would require to submit for a Balance Transfer?

      All customers applying for a loan with SMHFC should be at least 18 years old.
      Mandatory Documents:-

      1. KYC (Aadhaar / PAN / Voter ID / Driving License / PAN / Bank Passbook etc)
      2. Updated borrower statement from the previous Financial Institution.
      **Additional documents might be requested on a case-by-case basis. At SMHFC, we understand that every customer might not have the same type of documentation, and therefore, we provide customized solutions to ensure that maximum customers can enjoy our hassle-free services. To know more about the document requirements of a home loan transfer, feel free to call our toll free number - 1800-1234-427 or directly inquire on our website - Loan Enquiry | Online Form | SvatantraMHFC

Rate / terms could be subject to change at management's discretion

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