DIAGNOSTICS
Modern diagnostic tests and imaging technology can cost lakhs of rupees. If many such scans, X-rays, dopplers, and MRIs are required, the cost might soar. For situations like these, our top-up loan comes in handy.
HOSPITALISATION EXPENSES
Put your hospital expenses on the top-up loan when your insurance doesn’t suffice. Be it a comfortable hospital room, special meals, or even a necessary visit to a dietician, the loan will help you manage the costs.
POST-OPERATIVE CARE
Every surgical patient requires some post-operative care. It could either be psychological therapy or physiotherapy. While post-op care is necessary, many drop them due to a lack of finances.
Features and benefits of our loan against property balance transfer
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All you need to know about our loan against property balance transfer
Watch this video to know everything about our loan against property balance transfer: Features and benefits, fees and charges, eligibility criteria, and more.
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Balance transfer of up to Rs. 10.50 crore*
Be eligible for a balance transfer of up to Rs. 10.50 crore* on transferring your existing loan to us.
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Low interest rates
Self-employed individuals can access competitive interest rates ranging from 9% to 12% (Floating rate of Interest) p.a.
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Multiple end-use options
Use the loan to manage your big spends on weddings, higher education, medical emergencies, home renovation, and more.
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Tenure of up to 15 years*
Manage your loan conveniently with a long repayment tenure of up to 15 years*.
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Speedy approval
Get a quick approval on your loan application soon after your document verification.
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No foreclosure fee*
If all borrowers and co-borrowers are individuals, loan availed on floating interest rates, and loan taken for purposes other than business use, then there will be no foreclosure/ part-prepayment charges.
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Externally benchmarked interest rates
You can opt for an interest rate, which is linked to an external benchmark, such as the Repo Rate, and benefit from a transparent interest rate process and favourable market conditions.
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*Terms and conditions apply
Loan against property balance transfer EMI calculator
Enter a few details and check your loan against property balance transfer EMIs.
Eligibility criteria and documents required
Any self-employed individual can apply for our loan against property balance transfer as long as they meet the criteria mentioned below.
Eligibility criteria
- Nationality: You must be an Indian citizen residing in India with property in a city we operate in.
- Age: Minimum age: 25 years* (18 years for non-financial property owners)
Maximum age: 85 years* (including non-financial property owners)
*Age of the individual applicant/ co-applicant at the time of loan maturity.
*Higher age of co-applicant may be considered up to 95 years basis 2nd generation (legal heir) meeting age norms and to be taken as co-applicant on loan.
- CIBIL Score: A CIBIL Score of 700 or higher is ideal to get an approved loan against property balance transfer.
- Employment status: As a self-employed applicant, you should have a business continuity of over 5 years in the current business.
Documents required
- Proof of identity/ residence - Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
- Proof of income (P&L statement)
- Proof of business existence, and
- Account statements for the last 6 months
Note: This is an indicative list that may change based on your actual loan application.
Check your loan against property balance transfer eligibility
Find out how much loan amount you can get.
Applicable fees and charges
We advise you to read about our fees and charges thoroughly before applying.
Type of fee |
Applicable charges |
Rate of interest (floating rate of interest) |
9% to 12% per annum |
Processing fee |
Up to 3.54% of the loan amount (inclusive of applicable taxes) |
Documentation charges |
Up to Rs. 2,360/- (inclusive of applicable taxes) |
Flexi fee |
Term Loan – Not applicable Flexi variant (as applicable below) - (Inclusive of applicable taxes) Flexi term loan (Flexi dropline) The Flexi charges above will be deducted upfront from the loan amount Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges. |
Prepayment charges |
Full prepayment
Part-prepayment
Note: If all borrowers and co-borrowers are individuals, loan availed on floating interest rates, and loan taken for purposes other than business use, then there will be no foreclosure/ part-prepayment charges. |
Annual maintenance charges |
Term Loan: Not applicable |
Bounce charges |
Rs. 1,500/. “Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason |
Penal Charge |
Penal Charge is applicable in the following scenarios: a. Penal Charge: b. Covenant Perfection Charge: |
Stamp duty (as per respective state) |
Payable as per state laws |
Broken period interest/ pre-EMI interest |
Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
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Mortgage origination fees |
Up to Rs. 6,000/- per property (inclusive of applicable taxes) charged upfront. Note - In case of re-valuation of the property then MOF will be levied again and shall be deducted from loan disbursement amount. |
| Conversion fee (floating to fixed)** | For Term Loan: Up to 1.18% (inclusive of applicable taxes) of principal outstanding + undisbursed amount (if any) For Flexi Term Loan and Hybrid Flexi Loan: Up to 1.18% (inclusive of applicable taxes) on flexi limit + undisbursed amount (if any) Note: a) The company would charge additional interest rate risk premium of 200 bps over the applicable rate of interest on the borrower's loan account as on that date. b) Three conversions are permissible throughout the entire tenure |
| Conversion fee (fixed to floating)** | For Term Loan: Up to 1.18% (inclusive of applicable taxes) of principal outstanding + undisbursed amount (if any) For Flexi Term Loan and Hybrid Flexi Loan: Up to 1.18% (inclusive of applicable taxes) on flexi limit + undisbursed amount (if any) Note: Three conversions are permissible throughout the entire tenure. |
| Switch fee for ROI change | Up to 2.36% (inclusive of applicable taxes) of principal outstanding |
| Commitment fee | Maximum up to total PF amount. |
| Legal Charges | Recovery of charges |
| Repossession & Incidental charges | Recovery of charges |
**The option of switching from floating to fixed rate of interest and vice versa would be applicable only to Borrowers whose loan qualify as personal loan as per RBI circular on Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans- RBI/2023-24/55-DOR.MCS.REC.32/01.01.003/2023-24.
Personal loans refers to loans given to individuals and consist of (a) consumer credit, (b) education loan, (c) loans given for creation/ enhancement of immovable assets (e.g., housing, etc.), and (d) loans given for investment in financial assets (shares, debentures, etc.).
Further, Consumer credit refers to the loans given to individuals, which consists of (a) loans for consumer durables, (b) credit card receivables, (c) auto loans (other than loans for commercial use), (d) personal loans secured by gold, gold jewellery, immovable property, fixed deposits (including FCNR(B)), shares and bonds, etc., (other than for business / commercial purposes), (e) personal loans to professionals (excluding loans for business purposes), and (f) loans given for other consumptions purposes (e.g., social ceremonies, etc.). However, it excludes (a) education loans, (b) loans given for creation/ enhancement of immovable assets (e.g., housing, etc.), (c) loans given for investment in financial assets (shares, debentures, etc.), and (d) consumption loans given to farmers under KCC. For risk weighting purposes under the Capital Adequacy Framework, the extant regulatory guidelines will be applicable. (as defined in XBRL Returns – Harmonization of Banking Statistics-RBI/2017-18/117-DBR.No.BP.BC.99/08.13.100/2017-18)
Frequently asked questions
It is recommended that you choose a loan against property balance transfer when your present loan against property lending terms are no longer feasible for you. Transferring your loan against property balance to a different lender may entitle you to competitive interest rates, longer repayment tenure, and a top-up loan.
Anyone with an existing loan against property can apply for a balance transfer with us. Your age, employment status, and city of residence are some of the key criteria for applying for the loan.
A self-employed Indian citizen residing in India, between the age group of 25 years* to 85 years* is eligible for the loan. Additionally, you should have a business continuity of over 5 years in the current business.
*Terms and conditions apply
You can repay the total sum borrowed over a convenient repayment tenure of up to 15 years*.
If you are planning to apply for a loan against property balance transfer, you must be ready with some basic paperwork. A self-employed applicant should have their KYC documents, proof of income (P&L statement), property documents like title deeds, proof of business, and account statements for the past 6 months, etc. handy.
