A home loan balance transfer is when a customer has taken a home loan from a particular lender and wants to transfer the outstanding home loan amount to another lender who provides a lower rate of interest and better service when compared to the current lender. 

This is usually done to save money. A customer can generally save up to 5% to 8% on the EMIs by doing a home loan balance transfer

There are certain documents needed to do a home loan balance transfer. They are:

ID proof

Address proof

  • Aadhaar card
  • Passport
  • Voters ID
  • Driver’s License

Income proof

  • Salary slips
  • Bank statements showing salary credits (up to 6 months)
  • Form 16 and IT returns 

Documents for balance transfer loan

  • Property documents
  • Outstanding balance letter from the current lender 
  • No objection certificate from the current lender 


Some of the other documents that are required include an employment contract or appointment letter, passport size photographs of the individual, application form for a balance transfer.

These documents can vary slightly based on the lender. So, it is best to check with the lender you want to apply for a home loan balance transfer with. 

To apply for a home loan balance transfer, click here