Home Loan transfer

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Deal Newbie
Gaurav_7

Guys,
I have a home loan with DHFL in Mumbai from 2013 of Rs.1325000( left principal 1070000) going on at rate of 10.22% and tried hard but they’re kot reducing it so looking forward to transfer it to some other bank. (dhfl agent also sold me bajaj Allianz term policy for 1.3 lakhs for this loan assurance).
Can you ll please guide/advise me for further strps for Home loan transfer and also about that bajaj plan what to do
Thanks

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Deal Newbie Deal Newbie
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First of contact any bank icici/hdfc, they will tell the procedure and documents required for home loan transfer. Keep in mind one thing, banks usually charge around 5k processing fees and 5k+gst i.e. 6k for legal. Some banks waive off processing fees but all bank charges legal fees and they tell u about legal fees after application processed. So check for it in advance.
You can not do anything with term policy. If u don’t want it just don’t pay premium.

Deal Cadet Deal Cadet
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Be mindful of some stamp duty and transfer charges that you would have to pay to govt (via bank) for the transfer

But your interest rate is too high currently, so still would be worth to transfer assuming no issues in Cibil

Deal Newbie Deal Newbie
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SG_Magical wrote:

First of contact any bank icici/hdfc, they will tell the procedure and documents required for home loan transfer. Keep in mind one thing, banks usually charge around 5k processing fees and 5k+gst i.e. 6k for legal. Some banks waive off processing fees but all bank charges legal fees and they tell u about legal fees after application processed. So check for it in advance.
You can not do anything with term policy. If u don’t want it just don’t pay premium.

It was a one time premium i paid of 1.25 lakhs for 20 years. And now 7 years have only passed and bajaj is telling that they can only refund upto 24k

Budding Star Budding Star
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Right now many banks are offering discounts waiver on processing fee due to festive seasons
That will last only till diwali
Check sbi if you have ALL documents or hdfc /icici as suggested by others

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