LIC Housing Finance Home Loan Balance Transfer

The interest rates for the balance transfer facility are as follows:

Disclaimer: The mentioned details are subject to change at the lender’s discretion.

It is essential to know the associated charges that add to the loan cost. Try to balance out these added costs by negotiating for as low an interest rate as possible. This can help you save considerably and manage your loan effortlessly. 

Some of the charges you need to be aware of are:

Disclaimer: The mentioned details are subject to change at the lender’s discretion.

A home loan balance transfer enables you to shift an existing loan to another lender in order to secure a favourable interest rate. This helps reduce your monthly EMIs and the overall repayment burden. The following are some notable benefits of an LIC Housing Finance home loan balance transfer:

• Attractive Interest Rates

Benefit from low interest rates starting at just 8.65% p.a.

• Extended Tenures

Repay the loan at your convenience with extended tenures of up to 30 years

• Top-up Loan

Borrow an extra sum on your existing loan and meet all your additional expenses easily

• Convenient Online Transfer

Transfer your home loan to LIC Housing Finance through a simple online process

Meet the following criteria to be eligible for this balance transfer facility:

• You should possess a No-Objection Certificate (NOC) from your lender

• You should have repaid at least 12 EMIs on your housing loan

• You must be at least 21-year-old 

• If salaried, your age at the time of loan maturity should not be more than your retirement age

• If self-employed, your age at the time of loan maturity should not be more than 70 years

• You should have an existing home loan from any bank or NBFC except LIC HFL Limited

Ensure that you maintain a good credit score, as it can help boost your loan eligibility. Alongside this, you will also be required to furnish the following documents:

Identity Proof: Any one of the following

• PAN card

• Aadhaar card

• Driving licence

• Passport (in case of NRIs)

Address Proof: Any one of the following

• Aadhaar card

• Voter ID

• Utility bill

• Driving licence

• Passport (in case of NRIs)

Income Proof 

• Bank statements for the last 6 to 12 months 

• Salary slips and Form 16 for salaried individuals

• ITR filings and business financials of the last 3 years for self-employed individuals

Property-related Documents

• Proof of ownership of property

• Allotment letter from the builder or society for flats

• Up-to-date receipt of tax paid

Other Documents

• Loan statement of the existing loan

• List of the property documents submitted to the existing lender

• Bank statement for the last 12 months of the account from which EMIs have been paid

Follow these simple steps to apply for this balance transfer facility on Bajaj Markets:

1. Click on the ‘Apply Now’ option on this page

2. Provide your personal and income-related information

3. Select ‘LIC Housing Finance’ from the list of lenders

4. Choose your preferred tenure and the loan amount required

5. Submit the application form

After this, an executive will reach out to you for further proceedings.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.