Home Loans

Found your fantasy house but struggling with the price tag? We can help with Home Loans designed for your needs. Our low interest rates and easy EMI plans can help unlock the door to your future.

Loan Against Property

Our Loans Against Property can help you through life’s biggest moments. Weddings, personal passions, educational fees or career changes - we’ve got you covered. Refinance any existing commercial or residential property at the best rates today.

Balance Transfer

With our Balance Transfer option you can transfer your existing home loan to Godrej and enjoy the benefits of a plan that works for you. Along with interest rates tailored to your comfort, enjoy higher eligibility, along with a Top-Up loan, to take care of your extra needs.

Plot Loans

Found the perfect spot to build your future? Our Plot Loans can help make it yours. Our loans offer you the financial help, low interest rates and flexible payment options you need to construct the home of your dreams.

Business Loans

We give you the courage to take that next step that your business needs. Godrej Capital Business Loans empower you with customizable financing solutions to grow your business to the next level!

Commercial Property Loans

Take your business to the next level with a Commercial Property Loan that finances construction, extension or improvement to make your business goals become reality. With plans designed for your life, you can rest assured that your business empire is in safe hands.


All About Home Loan Balance Transfer - You Asked, We Answered!

We take ‘ask and you shall receive’ very seriously!


While you may have read, researched, and done what not to ensure you are taking the right decision but there may be some questions that must not have crossed your mind! Thus, this month, we scoured the net to select the top 13 frequently asked questions that customers asked on Home Loan Balance Transfer and answered them for you.


We truly hope we have been able to answer all your queries on Home Loan Balance Transfer. And yes, you can thank us later! 



  1. Who can avail of a Balance Transfer Loan?

    A borrower from any profession - salaried or self-employed - can avail of Home Loan Balance Transfer. However, to apply for a Home Loan Balance Transfer, you must have an active home loan running with a lender, be it a bank, an NBFC, or an HFC. You can check your eligibility with your preferred lender.


  3. When should I do a Home Loan Balance Transfer?

    Usually, a Home Loan Balance Transfer is sought for suitable interest rates that enables a borrower to save on EMIs and interest outgo. Thus, it is highly recommended to opt for Home Loan Balance Transfer at the beginning of the loan tenure. This is because the interest component is higher during the initial period.


  5. Can Balance Transfer hurt my credit?

    No, generally, a balance transfer will not hurt your credit score. However, certain factors such as hard inquiry or failure to pay the EMIs on time can surely affect the credit score.


    Let us explain: A hard inquiry is when you approach a financial institution for a loan balance transfer request, they access your credit score report to evaluate the risk involved in lending you the money. Usually, a hard inquiry can drop a few credit points.


  7. What are the required documents for a Home Loan Balance Transfer?

    Apart from the general KYC documents related to your identity and address, you need to furnish documents related to your income and property. You also need to produce a No Dues certificate from your existing lender. However, the document requirement can be different from one lender to the other. Thus, check the documents required with your preferred lender.


  9. What is the procedure for a Home Loan Balance Transfer?

    The process is relatively simple. Let’s break this down in steps:


    Step #1: Research your options and compare the Home Loan interest rates

    Step #2: Choose a lender offering the most competitive rates

    Step #3: Apply for loan foreclosure from your existing lender and seek a statement of account and list of property documents

    Step #4: Submit a loan application to your new lender with the documentation


    Once your loan is approved, the new lender issues a cheque in favor of the old lender for foreclosure of the outstanding amount. Post this, you pay EMIs to your new lender.


  11. What Information do I have to Give for a Balance Transfer?

    You need to furnish information related to your existing loan and property along with the other required documents (KYC, income, bank statement, etc.) for a balance transfer. Your new lender will ask for any extra information if required.


  13. How many Balance Transfers can you do in a year?

    Usually, a borrower can opt for a Balance Transfer only once a year. However, there are no regulatory prohibitions on the number of times a borrower opts for a Balance Transfer.


  15. How long does a Home Loan Transfer take?

    Basis the information provided, and the documents received, lenders generally take around 5 to 10 working days to evaluate your application and transfer the loan.


  17. How much does it cost to transfer your Home Loan?

    The processing fee differs across lenders. To make an informed decision, you can check with your preferred lender on their official website or contact their customer care representative.


  19. Is it mandatory to pay EMI for 5 years before a Home Loan Balance Transfer?

     No, this is not mandatory, and no lender can issue any such conditions.


  21. What is the maximum limit of transfer of amount?

    Some lenders allow you to transfer the entire outstanding loan amount if you fulfill the eligibility criteria. For instance, at Godrej Capital*, there is no maximum limit as such. But we recommend checking with your preferred lender on their official website or contact their customer care representative.


  23. Do I require a guarantor for Home Loan Balance Transfer?

    The requirement of a guarantor depends on the lender. For instance, at Godrej Capital*, there is no requirement of a guarantor for Home Loan Balance Transfer.


  25. Is it better to get a loan or opt for a Balance Transfer?


    Opting for a home loan or home loan balance transfer purely depends on your requirement. For instance, while a home loan can be used for any home-related end use, such as home improvement; a home loan balance transfer is about transferring your outstanding home loan balance for suitable interest rate or customer service.


    We recommend taking a minute to read about home loan and home loan balance transfer on our website to make an informed decision. Hope this helped!



*Godrej Capital is the holding company of Godrej Housing & Godrej Finance. Financing to be done through subsidiary entity of Godrej Capital at lender discretion & prescribed terms. RBI / NHB norms apply. For more details, visit www.godrejcapital.com.


Godrej Housing Finance offers Home Loan balance transfer at a competitive interest rate to salaried and self-employed individuals. To know more about our offering, click here.


Disclaimer: The names used in this article are fictitious and are used for representational purposes only.


The contents of this article is for information purpose only. For more details, please refer to the product or service document and/or connect with our customer representative prior to making any financial decision. The information is subject to update, completion, revision and amendment and may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Godrej Capital or its affiliates to any requirements. Godrej Capital or its affiliates shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.