Home Loan Balance Transfer

You know about home loans and how they help you build the home of your dreams. We at Uponly.in have something to add on to this. While involving just the financial institution may not give you this benefit, but being with us will definitely bail you out if you wish to save up on your interest. A home loan balance transfer is a facility wherein you can transfer your loan from the existing financial institution with a higher interest rate to another one with a lower rate of interest. This helps save up on a lot of money, the interest component of it.

What is the eligibility criteria for a home loan balance transfer via Uponly.in?

• Indian citizenship
• Aged between 21 and 60
• No fall in credit score (Check yours for FREE here)
• Employed
• Minimum repaying capacity

What are the documents required for a home loan balance transfer?

• Passport-sized photographs of the applicant
• Application by the financial institution, duly filled and signed
• Latest three months salary slips that show proper break-ups and demarcations
• Six months’ bank statements that show a regular credit of the salary
• Identity proof (out of the document list provided by the financial institution)
• Address proof (out of the document list provided by the financial institution)
• Age proof (Class 10 mark sheet, birth certificate, PAN)
• Proof of the existence of business in case you are self-employed and financial statements to prove the same
• Bank statements to prove debit of home loan EMIs
• Copy of loan statement

Apart from the aforementioned, there may be other information required, depending on the financial institution’s policies.