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Pre-Approved Balance Transfer

Why pay a high-interest rate when you can save with ICICI Bank’s Property Balance Transfer? Now enjoy lower interest rates with a pre-approved Instant Balance Transfer on Home Loans and Loan Against Property and increase your savings.

Instant Balance Transfer is a pre-approved Property Loan Balance Transfer, available exclusively for ICICI Bank customers. As an existing ICICI Bank customer, you can transfer your Property Loan running with another bank/financial institution to us and benefit from instant sanction and attractive interest rate with reduced EMI.

This Repo Rate linked loan will offer you the advantage of interest reset and increase your savings. It’s time to move your outstanding balances to ICICI Bank’s pre-approved Property Balance Transfer and benefit from the lower EMIs with interest rates starting at 6.70%* per annum.

ICICI Bank offers Balance Transfer for Property Loans such as Home Loan, Loan Against Property (LAP), and Non-Residential Premises Loan.

Check Your Offer

Steps for availing Insta Home Loan Balance Transfer through iMobile

Watch the video to find out how to avail your ICICI Bank Insta Home Loan Balance Transfer offer through iMobile.

Get Instant Sanction of your Pre Approved Balance Transfer offer in just 3 simple steps

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I give my consent to ICICI Bank representative to call, sms, e-mail me on recommended Home Loan Balance Transfer offer

Property Balance Transfer Calculator

Get an estimate of your EMIs and savings in seconds! Simply enter the required details of your loan to find out how much you can save using ICICI Bank’s pre-approved Property Balance Transfer Calculator.

4 Ways to Save with ICICI Bank Balance Transfer

Tenure unchanged

Reduce your monthly instalments and save for the future

EMI amount unchanged

Reduce your tenure and settle your loan in less time

Maximum tenure

Avail of maximum tenure with reduced monthly instalments

Reduced EMI

Save money with decreased monthly instalments

Benefits of Property Balance Transfer:

Instant sanction: Get sanction letter online instantly and save the hassle of complicated documentation.
Low EMIs - Pay low monthly instalments with a smart option and grow your savings.
Lower interest rate: Attractive interest rates make Home Loans easy on your pocket.
Quick processing: Speedy processing and quick disbursal of Balance Transfer for a Home Loan.
Sanction multiple loans: Avail of instant Balance Transfer on up to two Property Loans.

Why Balance Transfer to us is a Smart Choice?

Interest rate with 20-year tenure

Attractive interest rates that maximise your savings

Minimal documentation

Reduced number of documents for easy application

Quick processing

Swift transfer of loan

Top-up Loan

Get Top-up Loan upto 100%* of original loan amount

Key features of pre-approved Property Balance Transfer

Particulars	Loan details
Interest rate	Starting at 6.70%^* per annum
Maximum loan tenure	20 years
Maximum loan amount	Rs 1 crore
Applicable loans covered	Home Loan, Loan Against Property (LAP) and Non-Residential Premises Loan (NRP)

Why choose Top-up Loan with Balance Transfer?

You can avail of the Top-up Loan for personal and professional needs

Minimal documentation process for application and approval of loans

No additional collaterals are needed for loan approval

Simple and swift process for urgent funds with reduced EMI benefits

Pre-approved Balance Transfer FAQs

What is Balance Transfer?

Balance Transfer refers to transferring your existing Home Loan/Mortgage Loan from one bank/financer to another.

Why should I opt for a Balance Transfer?

With a balance transfer facility, you can transfer your existing Home Loan running at a higher rate of interest to another bank/financer offering a lower interest rate. Hence, the EMI reduces and you save on your monthly outflows. Further, you can also take additional loan referred to as Top-up Loan, on your existing property along with the transfer. This can be used for any personal use like refurnishing of house, holiday, education of children, etc.

What is the maximum tenure that can be given under pre-approved Balance Transfer?

For Home Loan - Up to 20 years; For Non-Home Loan - Up to 15 years. This tenure is subject to your age and the original tenure of existing loan.

Can I get offer on fixed rate of interest for pre-approved Balance Transfer?

No, floating rates are available for pre-approved Balance Transfer online.

Can specialised/under construction properties be funded under pre-approved Balance Transfer?

No, it cannot be funded.

How will I receive sanction letter for pre-approved Balance Transfer?

In the online journey, you will be shown your applicable EMI and rate of interest. Once you confirm the same and make the fee payment, you will be displayed the tab to “Download” the Sanction Letter. It will also be sent to your registered e-mail ID.

Can I transfer 2 loans under pre-approved Balance Transfer offer?

Yes, you can transfer up to 2 loans under pre-approved Balance Transfer. In the offer displayed on Internet Banking, you will see the details of both loans separately. However, you have to confirm if loans are on same property or different properties.

If loans are on same property – both loans have to be transferred
If loans are on different property – you can choose Balance Transfer of any 1 loan or both.

If I am transferring 2 Home Loans, processing fee will be applicable for single loan or both loans separately?

Fee will be applicable for both loans on the total loan amount.

Can I transfer more than 2 loans under pre-approved Balance Transfer offer?

No. Offers are not generated/available for more than 2 Home/Mortgage Loans

How can I avail of pre-approved Balance Transfer if their Internet Banking is not activated?

You can get Internet Banking activated or connect with your RM. You can also connect with us on <Phone number of Customer Care> for the same.

What is pre-approved Balance Transfer?

Instant Balance Transfer is an exclusive pre-approved balance transfer offer for ICICI Bank customers. With this offer, customers can avail of instant online sanction for loan amount up to Rs 1 crore for 20 years. Customers can also transfer up to 2 Mortgage Loans under this product. No documentation is required for sanction of this loan.

On what basis is the pre-approved Balance Transfer decided for a particular customer? What factors are taken into account while deciding the loan amount?

Instant Balance Transfer pre-approved offers are generated on ICICI Bank customers, basis parameters such as credit bureau checks and existing relationship with the Bank, among others.

What is the rate of interest for Instant Balance Transfer?

Rate of interest is dependent on Mortgage Loan type (Home Loan, Loan Against Property, etc.) and is starting at <7.7>% per annum. The rate of interest is displayed online when availing of the offer. Click here to check the same.

What is the process for documentation and KYC related aspects of this product? Is it digital or a customer has to visit the local branch?

For availing of disbursement, customer can contact the assigned relationship manager. RM details will be mentioned in the sanction letter. Property checks and co-applicant addition will be done before disbursement.

What is the facility of applying joint Home Loan through this product?

Yes, co-applicants as per the original loan will be added under this product before availing of disbursement.

What is the validity of sanction letter availed under Instant Balance Transfer?

Sanction letter is valid for 3 months. During this time period, you can avail of disbursement.

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