Eligibility Criteria for Balance Transfer
Repayment track record, minimum outstanding amount, remaining tenure and property value requirements.
Eligibility Criteria for Balance Transfer
To be eligible for a home loan or LAP balance transfer, borrowers typically need to meet the following criteria:
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Borrowers must have paid their EMIs on time, for at least 12 months without any defaults. Want an Early BT or have bouncing - Connect with Us.
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The minimum outstanding loan amount should typically be between ₹10–25 Lakhs. In cases where the outstanding loan amount is lower than ₹10 Lakhs, but the borrower also needs additional funds, a balance transfer combined with a top-up loan can be considered.
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The loan should have a remaining tenure of at least 10–15 years. Applicants are required to show a steady income, strong repayment capacity, and a healthy credit score.
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There should be no major change in the property's value or in the borrower's financial profile.