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BALANCE TRANSFER & TOP UP

Enjoy the comforts of a new partnership with Piramal - get lower interest rates, personalised EMI plans, and a loan top up with a home loan balance transfer

Restructure your debt with a cash-out that you can use for multiple purposes; you can reinvest it in your business, reinvent your interiors, and raise funds for other miscellaneous needs. Get expert advice and guidance from our dedicated relationship managers to make smart financial decisions.

At Piramal Capital & Housing Finance, we put our customers first and therefore make sure all your loan requirements are taken care of. Our proficient workflow ensures that you have a smooth and problem-free transaction.

Advantages of a home loan balance transfer with Piramal.

  • We are here as your partners to help you buy a home with the lowest interest possible.
  • A simplified process is available for customers running a home loan for more than 18 months.
  • The process to start a home loan balance transfer and get a loan top up is easy. The maximum possible cash out available depends on the current value of your property.

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GET READY FOR YOUR NEW HOME!

PURPOSE
    WE OFFER LOANS FOR:
  • Transfer of existing home loans from other financial institutions. You can also avail an additional top up as per your requirement.
  • A simplified process is available for customers running a home loan for more than 18 months
MAXIMUM LOAN
    We offer loan up to 90% of the current market value of the property, subject to regulatory guidelines.
MAXIMUM TERM
    Up to 30 years subject to your retirement age.
TOP UP
    As you transfer your loan with us, a top up option is available depending on your specific requirements.
    Maximum possible cash out available depending on the current value of your property.
ADJUSTABLE INTEREST RATE HOME LOAN
Rate of interest is linked to Retail Prime Lending Rate (RPLR) and is subject to vary with changes in RPLR.
ELIGIBILITY CRITERION
    Customer Segment
  • Salaried Individuals (Both resident as well as Non Resident Indians)
  • Self Employed Individuals (Customized schemes for doctors, CAs and other professionals)
  • Self Employed Non Individuals
INTEREST RATES
Interest Rates starting from 9%* p.a
Retail Prime Lending Rate (RPLR) – 16.05% p.a (effective May 5, 2019)
EQUITY CASH OUT
INTEREST STARTS ON THE DAY YOU ACCEPT THE CHEQUE AND NOT WHEN WE PRINT IT.
DEDICATED RELATIONSHIP MANAGER
Get expert advice and support at every step of your home-buying experience. Don't worry or stress about waiting in long queues online or offline - just call your dedicated relationship manager!
FREQUENTLY ASKED QUESTIONS

What is a home loan balance transfer?

The process of transferring the existing principal loan amount on your new house to a new bank is called a home loan balance transfer. It is a way of reducing interest rate payments. Balance transfers are recommended during the early years of your home loan tenure if your lender’s interest rate is comparatively higher than others in the market. You can also do a balance transfer to shift between floating and fixed interest rates and get a higher amount with a loan top up.

What are the advantages of a home loan balance transfer?

If you have been regular in your EMI payments and maintain good records with your lender, you stand a chance of resuming your EMI payments with a new bank at a lower interest rate. You also have the added advantage of taking a loan top up, which is an additional loan amount the new bank will offer which can increase your tenure.

Is it possible to merge more than two loans?

Yes, with the home loan balance transferred to a new bank, you can combine your other home loan installments as one to avail the benefits of lower interest with the new bank.

How long does a home loan balance transfer take?

The lender will have to assess your eligibility again, so the process duration usually ranges from 7 days to 3 weeks.

What is the balance transfer process?

    The process for transferring balance is simple:
  • Request your current lender for the documents to refinance the loan.
  • Get the consent letter and document from the present lender and submit them to the new lender.
  • Transfer of the outstanding amount to the new lender.
  • Closure of the old account. Future payments will be made to the new lender.
  • The old lender will hand property documents to the new lender, which marks the end of the process.
ELIGIBLE CUSTOMER SEGMENT
  • Salaried and Self Employed Individuals.
  • Proprietorship Firms
  • Private Limited Companies / Closely held limited Companies
  • Partnership firms / LLPs
LOAN AMOUNT
  • From 20 Lakhs to 10 Crores
INCOME CLUBBING
  • Income of close family members ( Spouse / Parent / Children ) can be clubbed.
  • Incomes of siblings can be clubbed, subject to conditions, if they are co-owners in property
LOAN TO MARKET VALUE
Loan amountupto 30 Lakhsupto 30 -75 LakhsMore than 75 Lakhs
FundingUpto 90%80%75%

The above is subject to market value of the property and repayment capacity of the customer, as assessed by PCHF

PHOTO IDENTITY PROOF
    Any one of the below mentioned documents:
  • Passport
  • PAN
  • Aadhar Card
  • Driving License
  • Voter ID Card
CURRENT RESIDENCE ADDRESS PROOF
    Any one of the below mentioned documents:
  • Passport
  • Ration Card
  • Aadhar Card
  • Driving License
  • Voter ID Card
AGE / DOB PROOF
    Any one of the below mentioned documents:
  • Passport
  • Ration Card
  • Driving License
  • Birth Certificate (issued by Government body)
  • School leaving certificate (10th)
BUSINESS / EMPLOYMENT PROOF
    Salaried customer:
  • ID card with date of Joining / appointment letter.
  • Self Employed Professional and Non professional:
  • Shops and establishment certificate
  • Trade license certificate
  • SSI Registration Certificate
  • Sales Tax / VAT /GST Registration certificate
  • Self Employed Professionals:
  • Proof of professional qualification is required in addition to above mentioned document if customer is applying in individual capacity
INCOME DOCUMENTS
    Salaried customers:
  • Payslip for last 3 months.
  • Latest Form 16 or ITR
  • Performance Appraisal letter / Bonus letter - as proof of bonus ( if applicable)
  • Self Employed customers with income proof:
  • ITRs for last 2 years with computation of income, P&L, Balance sheet , Schedules and auditors report ( If applicable)
  • Financials should be audited if mandatory as per regulations or annual turnover is more than 2 Crores, else these need to be CA certified.

Testimonials

We are in the business of financial planning but the day I finalised my property, I needed to get a loan and I found Piramal to be the best option. They cater to all the requirements of the customers and helped me at every single step along the way.

Nirmal Dand,
Financial Planner
nirmal-dand