Balance Transfer

Balance Transfer

Lower your EMI with ICICI HFC Balance Transfer

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Overview

Meet Ravi, the dreamer who desired a more affordable journey to homeownership. With ICICI HFC's Home Loan Balance Transfer, he found a fresh start to make his dream home a reality.

How It Works: Simple as 1-2-3!

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Evaluate Your Options

Ravi assessed his existing home loan and explored ICICI HFC's wide product range.

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Seamless Transfer

With a hassle-free process, Ravi smoothly transferred his home loan to ICICI HFC.

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Unlock Better Benefits

Ravi enjoys enhanced benefits, such as lower interest rates and flexible repayment options, making his homeownership journey more affordable.

1

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economic

Evaluate Your Options

Ravi assessed his existing home loan and explored ICICI HFC's wide product range.

2

arrow-icon
economic

Seamless Transfer

With a hassle-free process, Ravi smoothly transferred his home loan to ICICI HFC.

3

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economic

Unlock Better Benefits

Ravi enjoys enhanced benefits, such as lower interest rates and flexible repayment options, making his homeownership journey more affordable.

Why Home Loan Balance Transfer Works for Ravi ?

Save More

Ravi now saves significantly on his monthly EMIs, giving him the financial flexibility to pursue other dreams.

Simplified Process

 ICICI HFC's straightforward process made the home loan transfer smooth, eliminating unnecessary hassles

ICICI Brand

Ravi benefits from ICICI HFC's customer-friendly features, including attractive interest rates and digital services

Result

Ravi's now experiences a renewed journey towards affordable homeownership.

Just like Ravi, make the switch to ICICI HFC and begin on a more affordable homeownership journey today! 🚀🏡

Documentation

To process your Balance Transfer application, just walk into our nearest branch with the following documents:

  • Letter from the existing lender stating the list of Property Documents you have submitted to them
  • Latest Outstanding Balance letter from existing financial institution
  • Copy of your property documents (including Own Contribution Proof)

Charges

Charges Rates*
Login/Application Fee (for KYC checks and other documents, before your transfer is approved) ₹ 5,000*
Processing/ Administrative Fees (Charged at the time of sanction) 0.75% of the loan amount or ₹ 11,000, whichever is higher*
Prepayment charges Sr. No Product Prepayment Charges
1. Floating rate loan where purpose of loan is not for business and one of the borrower is an individual Charges applicable NIL
2. Floating rate loan where purpose of loan is for business(non- Home loan) and borrowers are individualsand/or non-individual/s 4% of the outstanding loan amount +applicable taxes
3. Fixed rate housing loan or limited period fixed rate housing loan* 2% +applicable taxes
4. Fixed rate non housing loans 4% + applicable taxes

*For Fixed, pre-payment charges are applicable if not prepaid from customer’s own sources

# The expression “own sources” for this purpose means any source of funds other than borrowing from a bank or Financial Institution.

Disclaimer: The rates, fees, charges etc. as stated herein above are subject to changes/revision from time to time. Pre- Payment/Foreclosure charges shall be applicable as per contracted rate or rates as per regulatory norms prescribed, if any.

* The above amounts & percentages are exclusive of applicable taxes and other statutory levies, if any such amounts shall include all amounts prepaid during the given financial year.

# Goods and Services Tax (GST) and other government taxes, levies, etc. applicable as per the prevailing rate will be charged over and above these charges.

Disclaimer:

The rates, fees, as stated hereinabove, are subject to changes/ revision from time to time at the sole discretion of ICICI Home Finance Company

The floating interest rate on ICICI Home Finance is linked to ICICI Home Finance Company Prime Lending rate (IHPLR). 

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