Home Loan Balance Transfer — pay less on the loan you already have
If your rate is higher than what banks offer new borrowers today, moving your loan could save you lakhs. We calculate it first, so you only move if it's worth it.
- New rates from 7.1% p.a.
- Top-up available
- Saving checked first
Could you save by moving?
Against the lowest listed rate, 7.1% p.a., after about 1% in costs.
You could save
EMI down ₹2,280 a monthOver the 15 years left, after costs.
Moving ₹40 lakh could save ₹3,70,441 after costs.
Starting rates
at 33 lenders
- Union Bank of Indiafrom 7.45% p.a.
- Punjab & Sind Bankfrom 7.4% p.a.
- State Bank of Indiafrom 7.25% p.a.
- Punjab National Bankfrom 7.2% p.a.
- Canara Bankfrom 7.2% p.a.
- Bank of Indiafrom 7.1% p.a.
- Bank of Maharashtrafrom 7.1% p.a.
- Yes Bankfrom 9.95% p.a.
- IDFC First Bankfrom 8.85% p.a.
- Federal Bankfrom 8.75% p.a.
- Axis Bankfrom 8.35% p.a.
- HDFC Bankfrom 7.2% p.a.
- Kotak Mahindra Bankfrom 8.75% p.a.
- LIC Housing Financefrom 7.5% p.a.
- HSBCfrom 9% p.a.
- IDBI Bankfrom 7.55% p.a.
- Karnataka Bankfrom 8.6% p.a.
- Clix Capitalfrom 15% p.a.
- Aadhar Housing Financefrom 11.75% p.a.
- Muthoot Financefrom 11% p.a.
- Edelweiss Financial Servicesfrom 9% p.a.
- Cholamandalam Financefrom 10.5% p.a.
- SMFG India Creditfrom 9.99% p.a.
- Ujjivan Small Finance Bankfrom 9.5% p.a.
- Hero Housing Financefrom 9.5% p.a.
- Poonawalla Fincorpfrom 9.5% p.a.
- Indiabullsfrom 8.75% p.a.
- IIFL Financefrom 8.75% p.a.
- Tata Capital Housing Financefrom 7.75% p.a.
- Home First Finance Companyfrom 8% p.a.
- PNB Housing Financefrom 7.9% p.a.
- Godrej Housing Financefrom 7.75% p.a.
- Aditya Birla Capitalfrom 7.75% p.a.
What is a home loan balance transfer?
A balance transfer moves the amount you still owe on your home loan to another lender at a lower rate. The new lender pays off the old one, takes over the mortgage, and you pay a smaller EMI or finish sooner.
It's worth it when the rate gap is meaningful, many years are left, and the one-off costs are recovered within a year or two.
At a glance
- New rates
- 7.1%–25% p.a.
- Transfer amount
- What you still owe, plus an optional top-up
- Tenure
- Up to your remaining term, sometimes longer
- Costs
- About 1% of the loan (fee, legal, valuation)
- Collateral
- The same property
- Time
- Typically 2–4 weeks end to end
Home loan rates you could move to
Published home loan rates from banks and housing finance companies. Most offer their new-borrower rate on a balance transfer, and some add a top-up.
- Lowest starting rate
- 7.1%p.a.
- Lenders listed
- 33
- Largest amount
- ₹60 crore
- Union Bank of IndiaPublic-sector bankStarting from7.45% p.a.
- Rate range
- 7.45%–10% p.a.
- Max amount
- ₹2 crore
- Max tenure
- 30 years
- Rate type
- fixed
- Processing fee
- Up to 1% of
- Punjab & Sind BankPublic-sector bankStarting from7.4% p.a.
- Rate range
- 7.4%–10.7% p.a.
- Max amount
- ₹5 crore
- Max tenure
- 30 years
- Rate type
- fixed
- Processing fee
- 0.15% to 0.25% of the loan amount + GST, with limits based on loan size.
- State Bank of IndiaPublic-sector bankStarting from7.25% p.a.
- Rate range
- 7.25%–8.95% p.a.
- Max amount
- ₹40 crore
- Max tenure
- 30 years
- Rate type
- fixed
- Processing fee
- ₹18,214 (Paisabazaar)
- Punjab National BankPublic-sector bankStarting from7.2% p.a.
- Rate range
- 7.2%–9.1% p.a.
- Max amount
- ₹50 lakh
- Max tenure
- 30 years
- Rate type
- fixed
- Processing fee
- ₹20,000 (Paisabazaar)
- Canara BankPublic-sector bankStarting from7.2% p.a.
- Rate range
- 7.2%–10.25% p.a.
- Max amount
- ₹50 lakh
- Max tenure
- 30 years
- Rate type
- fixed
- Processing fee
- ₹20,000 (Paisabazaar)
- Bank of IndiaPublic-sector bankLowest rateStarting from7.1% p.a.
- Rate range
- 7.1%–12.65% p.a.
- Max amount
- ₹7.5 crore
- Max tenure
- 30 years
- Rate type
- fixed
- Processing fee
- Up to 1%
- Bank of MaharashtraPublic-sector bankLowest rateStarting from7.1% p.a.
- Rate range
- 7.1%–9.65% p.a.
- Max amount
- ₹2 crore
- Max tenure
- 30 years
- Rate type
- fixed
- Processing fee
- Up to 1%
- Yes BankPrivate bankStarting from9.95% p.a.
- Rate range
- 9.95%–13.75% p.a.
- Max amount
- ₹1 lakh
- Max tenure
- 35 years
- Rate type
- fixed
- Processing fee
- 2% of the loan amount or ₹10,000, whichever is higher (plus GST)
- IDFC First BankPrivate bankStarting from8.85% p.a.
- Rate range
- 8.85%–18% p.a.
- Max amount
- ₹10 crore
- Max tenure
- 30 years
- Rate type
- fixed
- Processing fee
- Up to 3% (Paisabazaar)
- Federal BankPrivate bankStarting from8.75% p.a.
- Rate range
- 8.75%–8.75% p.a.
- Max amount
- ₹15 crore
- Max tenure
- 30 years
- Rate type
- fixed
- Processing fee
- ₹0 (Paisabazaar)
Last verified 19 Sep 2026. These are the lenders' published rates and fees, and they can change without notice. Your rate depends on your credit score, income and employer, and the lender makes the final decision.
Is a balance transfer worth it for you?
Put in your loan as it is today. We compare finishing it where it is with moving it, after every cost of moving.
Your home loan
Estimated at 1% of the balance. Edit it if you have real quotes.
Net savings after costs
Worth it
You would save well after costs, and recover them early.
- New EMI
- ₹36,177
- Current EMI
- ₹38,457
- You save each month
- ₹2,280
- Break-even
- Month 18
- Saved before costs
- ₹4,10,441
- Cost of moving
- ₹40,000
We'll carry ₹40 lakh over 15 years into the form.
When the move pays for itself
You start below zero by the cost of moving. The line crosses zero at the break-even month.
- Savings after costs
Worth it. Net savings ₹3,70,441. New EMI ₹36,177, down from ₹38,457. Break-even: Month 18.
Home loan balance transfer eligibility
Each lender sets its own rules. These are the usual minimums, so check them before you apply.
Salaried applicants
- At least 12 EMIs paid on time on the current loan
- A clean repayment record: no missed or late EMIs
- The property's title and approvals in order
- Credit score of 700+; 750+ for the best rate
Documents for a home loan balance transfer
Keep these ready before you apply. Complete documents are the quickest way to a decision.
Tick off what you already have.
Why do people move their home loan?
- A lower rate, and a smaller EMI
- Finishing the loan years sooner
- A top-up for renovation or other needs
- Switching from fixed to floating
- Better service from the new lender
- Moving off an old benchmark (MCLR, base rate)
How to apply for a home loan balance transfer
You fill in one short form. An advisor does the comparing and stays with you until the money is in your account.
- 1
Tell us once
Share what you need and a few details about your income. Takes about two minutes.
- 2
We compare
We check your profile against the eligibility rules of our partner banks and NBFCs and shortlist the ones likely to say yes, at the best rate.
- 3
You choose
We walk you through the shortlisted offers: rate, fees, EMI, and the fine print. No pressure to pick any of them.
- 4
We stay till disbursal
Your advisor collects documents, coordinates with the bank and keeps you updated until the loan is disbursed.
When is a balance transfer worth it?
- The rate gap
- Half a point or more usually justifies the costs on a large loan.
- Years left
- Savings come from interest not yet paid. With 5 years left, there's less to save.
- The costs
- Processing, legal, valuation and stamp duty on the new mortgage add up to about 1%.
- Your current lender
- Many banks will lower your rate for a small conversion fee if you ask.
- Your credit score
- The new lender prices you afresh, so a score that has improved helps.
How to get the best out of a transfer
- 1Ask your current bank for a rate reset first. It's often cheaper than moving.
- 2Compare the new lender's spread over repo, not just today's rate.
- 3Keep the same tenure and put the saving into a shorter loan, not a longer one.
- 4Take a top-up only for a real need; it's cheap money, but still a loan.
- 5Get the foreclosure letter and document list early. They set the timeline.
How does a home loan balance transfer work?
Five steps, usually over 2–4 weeks. Your current lender can't refuse to release the loan once it's paid off.
Check the saving
We compare your current rate with today's offers and the costs of moving.
Apply with the new lender
Income documents, your loan statement and the property papers.
Sanction and legal check
The new lender approves you, values the property and checks the title.
Old loan paid off
The new lender pays your current lender directly and collects the original documents.
Your new EMI starts
The mortgage moves to the new lender. Any top-up is paid to you.
Types of balance transfer
- Home loan balance transfer
- Balance transfer with top-up
- Fixed to floating switch
- Loan against property balance transfer
We are here to answer
all your questions
When the rate gap is about half a point or more, many years are left, and the costs are recovered within a year or two.
About 1% of the loan: the new lender's processing fee, legal and valuation charges, and stamp duty on the new mortgage.
Not on a floating-rate home loan taken as an individual. Fixed-rate loans can carry a foreclosure charge.
Yes. Most lenders offer one if the property's value supports it, usually at a slightly higher rate than the home loan.
Most lenders want 12 EMIs paid on time, so they can see your repayment record.
The new application is a hard enquiry, a small, short dip. Closing the old loan in full is recorded as closed, not settled.
Yes, if the new lender has approved the project. It takes over the remaining disbursements to the builder.
Yes. Many banks reset your rate to their current one for a small fee, which can save most of what a transfer would.
Ready to see which home loan balance transfer offers you qualify for?
Takes two minutes. No impact on your credit score.