- 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 institution 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. Tenure Maximum 20 years Interest Rate 11% onwards Processing Fee 2% - 3% (+GST) of the loan amount Prepayment Charges NIL Loan to Value Maximum 85% 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 SMHFCs 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 HereSwipe Table
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.
- KYC (Aadhaar / PAN / Voter ID / Driving License / PAN / Bank Passbook etc)
- Updated borrower statement from the previous Financial Institution.
- What is a Balance Transfer Loan?
Rate / terms could be subject to change at management's discretion