Table of Content
Fees on account of external opinion from advocates / technical valuers, as the case may be, is payable on an actual basis as applicable to a given case. Such fees is payable directly to the concerned advocate / technical valuer for the nature of assistance so rendered. Up to 1.50% of the loan amount or ₹4,500 whichever is higher, plus applicable taxes. With this option you get a longer repayment tenure of up to 30 years. This means an enhanced loan amount eligibility and smaller EMIs.
I declare that the information I have provided is accurate & complete to the best of my knowledge. I hereby authorize HDFC Ltd. and its affiliates to call, email, send a text through the Short messaging Service and/or Whatsapp me in relation to any of their products. The consent herein shall override any registration for DNC/NDNC.
Key Features of Home Loan Balance Transfer
Piramal Finance offers home loans that can go up to INR 75 lakhs for a tenure of 25 years. There are several ways you can increase the chances of getting a home loan. Some of these include improving your credit score, paying off all your existing loans and getting a well-structured repayment plan. A good repayment history demonstrates the creditworthiness of borrowers.
Your spouse or any biological relative like parents, siblings, children can also become the co-applicants. Further, all co-owners of property are also required to be placed on the loan structure. Only partners, directors and shareholders are allowed as non-related co applicants. So these are all the details for transferring your home loan from DHFL to another lender. In case you want to switch due to a high interest rate, it is always recommended that you begin the transfer procedure as soon as possible.
DHFL Home Loan Balance Transfer FAQ
The company was founded with the aim of providing financial aids in terms of housing loans to the lower and middle class group of the sub – urban and rural population. This deposit taking company is one among the 50 biggest financial companies in India. An in-house reduction in Rate of Interest saves you the hassle of transferring to another bank while reducing your repayment amount. As part of our efforts to make the end consumer services affordable and available at price points which are favourable to the customer, CreditMantri may receive fees / commissions from lenders. Standing Instruction is the best way to repay your home loans if you are an existing account holder with DHFL. Your EMI amount will be debited automatically at the end of the monthly cycle from the DHFL account you specify.
While this depends on several criteria, the loan amount that can be availed is between Rs.20 lakh to Rs.10 crore. Income of siblings can be clubbed for the home loan if they are co-owners of the property. Piramal home loan can be availed by both salaried as well as self-employed people as well. If you are looking at a long repayment tenure, even a small rise in the interest rate can drastically increase your repayment amount.
Loan Amount/Tenure
SwitchMe is an end-to-end service that helps you with everything related to your Home Loans - identifying the right lenders to figuring out the best tenure, interest rates to even balance transfers. Our Home Loan Advisor Abhishek, thoroughly explained the SwitchMe process and gained Sunil's trust after which he initiated the loan transfer process. After studying Sunil's details, Abhishek recommended that the loan be transferred to State Bank of India since it was offering an interest rate of 9.85%. The new interest rate would reduce Sunil’s loan tenure by 46 months, saving him a total of Rs. 5.50Lc!
Can I club my income with that of family members to be eligible for a higher loan amount? Yes, Piramal allows you to club your income with that of your close family members, such as a spouse, parent, or child to get a higher loan amount. Our highest priority is to make sure that your information stays safe and secure. This is why, we take steps to make sure that our servers and your information are completely protected. We send you updates, promotions and offers but you can easily remove yourself from our email list.
Existing Customer?
If you are on the defaulters' list, most lenders will reject your application for a home loan. Even if any lenders agree, you will have to pay a higher rate of interest on the loans availed. Sunil was facing a lot of issues with DHFL and so he decided to transfer his loan to another bank. He hired an independent agent but unfortunately for him, the agent wasn't a reliable one. He took Sunil's money and did not deliver on his promise of switching the loan. And so, when Sunil came to SwitchMe for help, he was still stuck with the hassles of DHFL and on top of that, he had a deep mistrust towards financial service providers.
Gone are the days when the work was done manually and took a long time. Similarly, the loan application process has also become digital and easy. DHFL currently offers home loans at a Retail Prime Lending Rate of 19.42 %. DHFL aims to offer the lowest interest rates for a home loan which, in the long run, makes a big difference in your overall budget. Nobody wants to lend money to a borrower who is not credible.
With a remaining tenure of 16 years, his interest amount would be very high. As a borrower, you can transfer your outstanding balance to ICICI Bank. There is no balance transfer limit as such to avail this facility. The prepayment charges are subject to change as per prevailing policies of HDFC and accordingly may vary from time to time which shall be notified on . The Borrower will be required to submit such documents that HDFC may deem fit & proper to ascertain the source of funds at the time of prepayment of the loan. The customer shall pay the premium amounts directly to the insurance provider, promptly and regularly so as to keep the policy / policies alive at all times during the pendency of the loan.
CIBIL score has a range of 300 – 900, with a score above 700 considered as good. A higher CIBIL score makes you more eligible and legit in the eyes of the lender. An internal switch does not remedy customer service problems. You are mentally prepared to fight your way through a financial article and that is incredibly brave of you. On behalf of SwitchMe, I promise to make your journey a little easier. With a tenure upto 20 years, you can reduce the EMI amount, so that your outgoings every month do not come in the way of your lifestyle and living standards.
No comments:
Post a Comment