Home Loan Balance Transfer

Pay off any existing balance of home loan with Bargain Loans Home Loan Balance Transfer at a lower rate of interest. You can now retain your home on better terms and conditions that suit your needs.

  1. Take a home loan, to pay off existing home loan(s)
  2. Future payments will be made to Loan Points.
  3. Transfer your existing home loan at interest rates that are lower than the original loan
  4. Top-up the existing loan to get ready cash for any of your needs
  5. The procedure of acquiring the loan is now easier and the amount payable for your instalments is designed to make you feel comfortable
  6. Avail Loan Points Home Loan Transfer if:
    • You are trying to reduce your interest rate and lower your payments
    • You are trying to reduce your home loan term to pay off your loan faster
    • You want to use the equity in your house to get money for any of your needs. You can take a top-up over the existing loan to get the much needed cash to fulfill your needs.

Quick Check

Even a 1.0% reduction in the interest rate can save you more than Rs. 1.5 lakh on a loan of 10 lakhs over a 20 year period. The exact figure will depend on the rate on the existing loan, balance tenure, etc.


Conditions apply. Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.


The financial eligibility depends on the Customer’s repayment capacity and is based on the following factors:

  1. Monthly or annual income
  2. Source of income
  3. Savings and credit history
  4. Work experience
  5. Age
  6. Qualifications
  7. Number of dependents
  8. Probability of the Customer continuing in the same occupation

Loans can be applied by individuals, either solely or jointly. Owners of the current property, in respect of which the loan is being sought, will have to be co-applicants. However, the co-applicants need not be co-owners of the Property.

Apart from the application form, you will be required to submit the following documents.

  1. Income proof and banking details
  2. Age proof and address proof
  3. Identity proof and Signature Proof
  4. Proof of educational qualifications

What is the maximum amount I can borrow?

You can borrow up to 90% (upto 80% for original loan between Rs. 20-75 Lacs, & 75% for original loan above Rs. 75 Lacs) of the cost of the property in case of Home Loan Balance Transfer. However in case of Commercial Loans against Property or Loans against an existing property you can borrow up to 60% of the cost of the property. The Balance Transfer Amount shall, however, be restricted to the Outstanding Balance of Loan with the existing financer.

How will my loan eligibility be determined?

Your repayment capacity as determined by Bargain Loans will help decide how much you can borrow. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependent’s, spouse’s income, assets, liabilities, savings history and stability and continuity of occupation.

In how many years can I repay the loan amount?

You can opt for a loan period of up to 20 years or outstanding tenure of the proposed loan to be taken over whichever is lower and can vary depending on your profile.

Who can be my co-applicant?

If you are an individual – your spouse, your parents, or even your major children can be your co-applicants. The co-owner of a property has to be a co-applicant, but a co-applicant need not be the co-owner of the property.

Can I get the benefit of reduced interest rates in the intervening period or during the balance tenure of my loan?

In Floating rate loans, change in Base rate will have direct impact on the interest rate of Home Loan.

When will the loan be disbursed?

You can take the disbursement after credit, technical and legal appraisals of the property have been done, besides execution of relevant documents & deposit of original property documents is required to be completed prior to disbursement. Further, you should have invested your own contribution amount towards the property. ‘Own contribution’ is the difference between the cost of the property and the loan amount.

In how many installments can the loan be disbursed?

The loan will be disbursed in full or in suitable installments taking into account requirement of funds and progress of construction, as assessed by Bargain Loans.

Does the agreement for sale have to be registered?

Yes, very much so. In many states in India, the agreement for sale between the builder / seller and the purchaser is required by law to be registered. You are advised, in your own interest to lodge the agreement for sale at the office of the Sub-registrar appointed by the State Government under the Indian Registration Act, 1908.

Does the property have to be insured?

Your home is your pride and joy. Don’t let unplanned events take it away. Property insurance will take care of home in case an unforeseen event strikes. Also, we offer Insurance options to cover your Loan Liability. That way, you will be at peace that you and your loved ones will not lose your home.

What kind of security is required?

In most cases, the property itself, bought or intended to be bought, becomes the security till the entire loan is repaid. In some cases additional security such as life insurance policies or Term Deposit receipts of Bargain Loans (if available) can be provided.


Conditions apply. Credit at the sole discretion of the bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.

Home Loan EMI Calculator

Owning your dream home has never been easier, thanks to the home loans from Bank. The institution understands the different needs of customers and structures solutions that address these requirements.


Features of Home Loans

  • Convenient and simplified documentation procedure for quick approvals
  • Attractive interest rates with affordable premiums for insurance options

The basic question for every borrower is how much will the loan cost? The answer is now easily available with an online home loan EMI calculator. With this calculator, you can get an idea on the optimum loan amount you can afford, without facing financial difficulties

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