Let me tell you about HDFC home loan transfer charges. The home loan transfer charges in HDFC, also known as balance transfer charges, are the fees levied when you transfer your existing home loan from another bank or financial institution to HDFC. The balance transfer option allows you to benefit from lower interest rates, saving on interest costs over the loan tenure.
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What are the Home Loan Transfer Charges HDFC?
HDFC charges policy repo rate + 2.90% to 3.45% which will be 9.40% to 9.95%. The processing fees is up to 0.50% of the loan amount or Rs 3000 whichever is higher + applicable taxes.
While the home loan transfer charges may seem minimal, always compare the total costs, including processing fees, legal fees, and stamp duty, to ensure the transfer provides financial benefits.
HDFC's competitive fees and attractive interest rates make it a popular choice for home loan balance transfers in India.
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Home loan transfer refers to the process of transferring the outstanding home loan balance from one lender to another. In such a case, the new lender proves the loan to the customer and gives the old lender the remaining home loan amount. I transferred my loan from a bank to HDFC, so I know the HDFC home loan transfer charges. This bank offers 8.5% p.a. onwards for a home loan and up to 90% of the cost. For tenure, it goes up to 30 years. Let me also share what are the home loan transfer charges in HDFC in detail in this answer.
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What are the home loan transfer charges at HDFC?The home loan transfer charges HDFC will depend on the value of the property, tenure, type of employees, and more. Let me share a chart to help you know about the charges in detail-
Processing FeesSalaried/Self Employed Professional: |
Salaried/Self Employed Professional: Up to 0.50% of the loan amount or ₹3,000 whichever is higher, plus applicable taxes. Minimum Retention Amount: 50% of applicable fees or ₹3,000 + applicable taxes, whichever is higher. |
Self-Employed Non-Professional: |
Up to 1.50% of the loan amount or ₹4,500 whichever is higher, plus applicable taxes. Minimum Retention Amount: 50% of applicable fees or ₹4,500 + applicable taxes, whichever is higher. |
Fess on account of external opinion from advocates, technical valuers or more
Customers are liable to pay the premium amounts to the policy provider to keep it alive
Delayed payments of EMIs can bring additional interest charges that are up to 24% p.a
Incidental charges
Regulatory charges
Other charges can be due to-
| Type | Charges |
Check Dishonour Charges |
₹300** |
List Of Documents |
Up to ₹500 |
Photocopy Of Documents |
Up to ₹500 |
PDC Swap |
Up to ₹500 |
Disbursement Cheque Cancellation Charge Post Disbursement |
Up to ₹500 |
Re-Appraisal Of Loan After 6 Months From Sanction |
Up to ₹2,000 plus applicable taxes |
Reversal of Provisional Prepayment under HDFC Maxvantage Scheme |
Rs.250/- plus applicable taxes/statutory levies at the time of reversal |
I hope the HDFC home loan transfer charges are now clear to you.
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What are the Home Loan Transfer Charges in HDFC?
Yogesh
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2023-04-24T10:40:37+00:00 2024-12-19T08:56:47+00:00Comment
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