Home Loan Balance Transfer

A Home Loan is one of the biggest financial commitments. Home financing can often be a real struggle for you if you are paying a hefty monthly instalment, due to high interest rates. Since a Home Loan is a high interest liability, it is still possible to save money once you opt for a Balance Transfer or Refinancing of a Home Loan. 

A Home Loan Balance Transfer facility lets you shift your outstanding Home Loan balance from your existing bank to a new lender, which is offering a lower interest rate. The facility ensures that the Home Loan aspects offered by the new lender match your repayment capabilities and goals. 

If you have been looking for ways to save for your future, you can switch to the ICICI Bank Home Loan Balance Transfer option. This is a smart move, as it allows you to move your Home Loan outstanding balance to ICICI Bank at a repo rate linked attractive rate of interest and pay a lower monthly instalment at a lower interest rate, starting from 6.75%. 

ICICI Bank Home Loan Balance Transfer is available to everyone who wishes to bring down the debt burden, plus you can experience a host of Balance Transfer Loan offers. ICICI Bank offers an online Balance Transfer facility that you can apply for, right from the comfort of your home.

  For details, give us a missed call on 9022499400

  For details, give us a missed call on 9022499400

Request A Callback

If you are an existing ICICI Bank customer, check your Pre-approved Balance Transfer offer and get instant sanction of your Property Loan.

Features and benefits 

Taking advantage of a lower interest rate is one of the reasons why you may be tempted to opt for the transfer of your Home Loan. However, there are many Balance Transfer benefits offered by ICICI Bank, to help you settle your outstanding loan balance easily, without worrying about finances.  

Documents

It is quite easy to apply for an ICICI Bank Home Loan Balance Transfer. All you need to do is submit the below list of balance transfer documents, to ensure quick processing and approval of the loan facility: 

KYC documents

  • Pan Card
  • Aadhaar Card
  • Proof of residence.

Income documents

  • Salary slips and Form No.16 for the salaried
  • Last three years’ income tax returns, along with financials for salaried, self-employed and professionals
  • Last 6 months’ Bank Statements.

Other documents

  • Latest Principal Outstanding letter
  • List of documents from the existing financier
  • Repayment Track Record.

How to apply

You’re just four simple steps away from benefiting a reduced monthly instalment and growing your savings. Here’s how you can apply for an online Balance Transfer? 

Step 1: Provide your basic details and loan requirements
Step 2: Check the offer 
Step 3: Avail a provisional approval
Step 4: Upload the documents

Home Loan Balance Transfer Calculator

Check out your total savings on monthly payments and see the comparison of how much you can save.

4 Ways to Save through Balance Transfer with ICICI Bank

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

Why Balance Transfer is a Smart Choice?

Minimal documentation Quick processing Attractive invest Top up loan

Minimal documentation

Quick processing

Interest rate with 20-year tenure

Top-up Loan

Reduced number of documents for easy application

Swift transfer of loan

Attractive interest rates that maximise your savings

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

Why choose Top-up Loan with Balance Transfer?

top up icon

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

top up icon

Minimal documentation process for application and approval of loans

top up icon

No additional collaterals are needed for loan approval 

top up icon

Simple and swift process for urgent funds with reduced EMI benefits

FAQs

What is a Balance Transfer Loan?


Balance Transfer of a Home Loan allows the customers to transfer their Home Loan from an existing bank to ICICI Bank, to take advantage of the reduced interest rates that will ultimately lower your monthly loan repayments. High interest Home Loans often eat away from your hard-earned money; however, you can save the money on loan repayments by applying for an ICICI Bank Home Loan Balance Transfer.

Who can avail a Balance Transfer Loan?


A Home Loan Balance Transfer facility is available to anyone (Resident Indian, NRIs and OCI) who has an existing Home Loan, with any bank. Any resident Indian can apply for the loan, whether you’re a salaried, self-employed or a business person.

What is the maximum amount that can be transferred?


As a borrower, you can transfer your outstanding balance to ICICI Bank. There is no balance transfer limit as such to avail this facility. 

Is a Balance Transfer a good idea for a Home Loan?


Yes. Refinancing a Home Loan is a good option, as it helps you take advantage of the low interest rates. Additionally, it helps you make EMIs affordable, by opting for a longer loan tenure. It helps to save money, as you pay decreased instalments. Also, you get to avail a Home Loan Balance Transfer & Top-up Loan up to 100% of the original sanction amount, if you switch your loan to ICICI Bank. 

Can a Home Loan be transferred to another person?


Yes. If you are selling your property to another person, you need to transfer your Home Loan balance as well. 

How can I transfer my Home Loan balance, online?


You can transfer your loan by the following the online Home Loan Balance Transfer process:
Step 1: Fill in the basic details, such as name, mobile number, date of birth, e-mail ID, property details, existing Home Loan details, etc. 
Step 2: You will be able to view your loan offer
Step 3: Make a payment
Step 4: Get a provisional approval
Step 5: Upload the documents.

Can I get a Top-up loan at the time of balance transfer?


Yes. ICICI Bank lets you avail of a Top-up Loan on the existing Home Loan to fund your personal and professional needs. The Home Loan Transfer with Top-up requires minimal documentation. ICICI Bank offers Top-up Loan of up to 100% of your original loan amount.

Can the repayment period be extended at the time of transfer?


Yes. Borrowers can opt for a longer loan repayment tenure. At ICICI Bank, the maximum loan term for Home Loan Balance Transfer is up to 20 years. 

Customer Reviews

Sort By

Scroll to top

arrow