Home Loan Balance Transfer Calculator

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Balance Transfer Calculator

Total Sanction Loan

₹

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₹ 10,000 ₹ 5 Crore

Existing Loan Tenure (months)

months

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12 months 360 months

Previous Lender ROI

%

Please enter a valid number.

4% 24%

Employment Type

IIFL Rate of Interest 8.70%

Simple Interest Applicable ₹63,00,000

IIFL Rate of Interest 8.70%

Interest

₹11,97,318

Loan Amount

₹13,02,682

Top-up Loan Transfer

₹63,00,000

IIFL Rate of Interest

₹8.70%

What is Home Loan Balance Transfer?

A balance transfer is a facility where a borrower can transfer his existing loan to another bank. There are generally 3 reasons behind the loan transfer: obtaining a lower interest rate on the loan, availing a top-up of the loan amount, or extending the tenure to repay the loan. However, not many home loan customers are aware that this option can be beneficial to them.

A balance transfer with IIFL Home Finance can help you save money by reducing your interest payments as here you can avail of a home loan at interest rates starting from just 8.75% per annum!

Steps to use Balance Transfer Calculator

Step 1: Select your loan tenure

Step 2: Input required loan details

Step 3: Specify employment type

Step 4: Get your results instantly

Why opt for Balance transfer from IIFL Home Finance?

Below conditions are applicable for claiming home loan tax benefits under section 24 (b):

Your decision to transfer the home loan balance to IIFL Home Loan will help to save on the interest cost

With an improved credit profile, you get to pay reduced EMIs

If a major portion of your loan is unpaid and you are getting a lower home loan interest rate from IIFL Home Loan, you can easily choose to transfer your home loan

Avail instant home loan approval within 30 minutes*

Frequently Asked Questions (FAQ’s)

IIFL Home Finance offers an interest rate starting from 8.75% if you are looking for your home loan balance transfer.

For home loan transfer, the repayment tenor is up to 20 years.

The customer is eligible for Balance transfer if he has repaid in previous lender for minimum of 18 months.

Disclaimer:The details are given for information purposes only. The reader shall use his prudence and conduct necessary due diligence for the respective Bank/Financial institution before concluding the transaction.