Save up to ₹15 Lakhson Home Loan Transfer

You're eligible if: 1) You've paid at least 12 EMIs of your current home loan, 2) Your property has clear legal title, 3) Your credit score is 650 or above, 4) You have a stable income source, 5) Your loan-to-value ratio is within bank norms (usually up to 90%). Self-employed and salaried individuals both qualify.

Required documents include: 1) Last 12 months' loan statement, 2) Property documents (sale deed, allotment letter), 3) Latest 3 months' salary slips or 2 years' ITR, 4) Bank statements for last 6 months, 5) KYC documents (PAN, Aadhaar), 6) Existing loan sanction letter. Most documents can be uploaded digitally.

Savings depend on: 1) Interest rate difference (even 0.5% can save lakhs), 2) Outstanding loan amount, 3) Remaining tenure. For example, on a ₹50 lakh loan with 15 years remaining, a 1% rate reduction saves approximately ₹8-10 lakhs. Use our calculator for exact savings.

Yes, typical charges include: 1) Processing fee: 0.5-1% of loan amount (often waived during offers), 2) Legal and valuation charges: ₹3,000-10,000, 3) Stamp duty as per state rules, 4) Prepayment charges from existing lender (nil for floating rate loans). MoneyKarma negotiates to minimize these charges.

Yes! You can get top-up loans up to ₹1 crore based on: 1) Current property value (up to 80% of value minus outstanding loan), 2) Your repayment capacity, 3) Credit score and history. Top-up funds can be used for any purpose - renovation, education, business, etc.

Initially, there might be a small dip (5-10 points) due to the credit inquiry. However, if managed well, balance transfer improves your score in the long run through: 1) Lower EMI improving payment capacity, 2) Closing old loan shows good credit behavior, 3) Maintaining timely payments on new loan.

With MoneyKarma: 1) Eligibility check: 30 seconds, 2) Document upload and application: 5 minutes, 3) Bank approval: 48 hours, 4) Legal and technical verification: 3-5 days, 5) Disbursement and old loan closure: 7-10 days. Total process: 10-15 working days.

1) Life insurance: You can continue existing policy or take new one with better terms, 2) Property insurance: Needs to be updated with new lender as beneficiary, 3) Features like overdraft facility can be negotiated with new lender, 4) Most benefits can be retained or improved with the new loan.