Balance Transfer

Balance Transfer

Save more on your Home Loan/LAP EMI and enjoy your savings for the betterment of your family through our takeover schemes.

  • Transfer your home loan /LAP availed from another bank/financial institution to GICHFL and get additional loan for construction,renovation and personal needs
  • Attractive interest rate.


1.Loan Term

Maximum 30 years
*It cannot extend beyond your retirement age years (60 years for salaried individuals and 70 years for self-employed individuals)

2. Loan Amount

  • Take over loan amount plus construction loan as per NHB norms
  • Takeover loan amount plus 15 lakhs for renovation
  • Takeover loan amount plus 10 lakhs as mortgage loan

3. Interest Rate & Charges

Variable Rate
For best rate please contact your nearest branch

# The final rate of Interest will depend upon Credit History, Profile, Loan amount, tenure and property type. Know More :


4. Repayment Mode

You can pay your home loan EMIs through:

  • Electronic Clearing Service (ECS)/ National Automated Clearing House.(NACH)- based on standing instructions, given to your bank
  • Post Dated Cheques (PDCs) – Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available)

5. Insurance

  • Free property Insurance.
  • Free Accidental Death Insurance.
  • Life insurance(Optional against one time premium) arranged through Kotak Life Insurance, Birla Sun Life Insurance .

6. Tax Benefits

The income tax authorities offer certain benefits and exemptions to individuals who have taken a home loan from specified financial institutions.

Section 24 of the Income Tax Act
Interest paid on capital borrowed for the acquisition, construction, repair, renewal or reconstruction of property is entitled to a deduction. Rs 2,00,000 is the maximum amount eligible for deduction in the case of self-occupied property and for rented out property there is no limit of amount of deduction.

Section 80C of the Income Tax Act
You can get a maximum Rs.1,50,000 deduction from the Income, on repayment of principal amount of the home loan during a financial year. Stamp duty, registration fee or other such expenses paid for the purpose of transfer of such house property to the assesse is also considered under this amount.

EMI Calculator:

Home Loan EMI calculator is a basic calculator that helps you to calculate the EMI, monthly interest and monthly reducing balance on the basis of principal amount, loan tenure and interest rate.

Please note that the Home Loan EMI calculator has been created to give you an approximate understanding and should not be considered as absolute.

Eligibility Calculator:

The house loan eligibility calculator acts as a guide for you to understand an approximate amount that you can avail for your Home Loans.

KYC Documents

ID & Address Proof (Any One Required)

  • PAN card
  • Valid Passport
  • Voter ID card
  • Driving license
  • Aadhar Card

Residence Proof (Any One Required)

  • Latest Utility Bill: Electricity, Telephone, Postpaid mobile, water bill etc.
  • Ration card
  • Letter from employer
  • Bank statement /copy of Pass book reflecting address
  • Valid Rent Agreement
  • Sale Deed

Income Documents

Salaried Individuals

  • Salary slips for the last 12 months or salary certificate*
  • Copy of bank statements for the past 12 months (salary account)
  • Form 16 / Traces  *If variable components like overtime and incentive are reflected,then salary slips for the past six months are required

Self-Employed Professional

  • Certificate of qualification for professionals : CA, Doctors or Architects
  • Copy of last three years’ income tax returns, along with computation of income
  • Copy of last three years’ P/L account with all schedules and audited balance sheet, wherever applicable.
  • Bank statement for the last 12 months (Savings account, current account and O/D account)

Business Class

  • Copy of your last three years’ income tax returns, along with computation of income
  • Copy of last three years’ P/L account with all schedules and audited balance sheet, wherever applicable
  • GST or TDS Certificate
  • Bank statement for the last one year (Savings account, current account or an O/D account)
  • Business registration certificate

Property Documents

  • Allotment letter from builder
  • Agreement of Sale
  • Registration and stamp duty receipt
  • Index- ii
  • NOC from builder
  • Own Contribution Receipt (OCR )
  • All builder linked documents (Applicable for cases which are not approved or previously not funded by GICHFL)
  • Development Agreement
  • Partnership Deed
  • Sale Deed
  • Title Search Report
  • NA order
  • Occupancy Certificate
  • Estimate for construction in case of construction and renovation case
  • List of documents from the Financial Institution/Bank
  • Loan outstanding along with Loan Repayment track for the last one year from the concerned financial institution

Note: Original documents are required for verification purpose only