Home Loan Balance Transfer
Home Loan Balance Transfer
Save more and live a financially peaceful life

We understand the pressures of having a home loan. A lower rate of interest can boost both your finances and your morale. Enjoy lower monthly installments and more savings with Kotak's Home Loan Balance Transfer. An efficient home loan balance transfer process enables you to focus more on richer things in life, like family time.
Lower rate of interest, lower monthly installments and bigger savings. The Home Loan Balance Transfer Process (also known as Home Loan Refinance or Home Loan Take Over) comes packed with several benefits. It helps you transfer your outstanding loan amount from your current lender at lower interest rates and more beneficial terms. Kotak Mahindra Bank also enables you to avail a top-up loan on your existing home loan.
The Home Loan Balance Transfer comes with a host of features. Here is a quick look at some of these perks:
Avail home loan in order to repay your existing home loans
You can use the home loan balance transfer to make future payments directly to Kotak Mahindra Bank.
Kotak Home Loan Balance Transfer allows you to roll over an existing home loan at a lower interest rate than the original loan
With a chance to top-up your existing loan, you can enjoy easy availability of cash to meet your other financial needs as well.
Kotak offers a simplified process for availing a Home loan Balance Transfer with the ease of customisable installment plans
Kotak Mahindra Bank does not have complicated document processes making it convenient for users
You can use Kotak Home Loan Balance Transfer to supplement your existing loan and prepare cash for any of your needs
Applying for a home loan balance transfer is simple and convenient. Enjoy a hassle-free housing loan refinance experience in the following 6 steps.
Step 1: Check your eligibility for a home loan balance transfer
Step 2: Fill out the following:
Step 3: Submit the following:
Step 4: View your loan offer
Step 5: Make the Payment of security fees online
Step 6: Upload your documents
Home Loan Balance Transfer, also called Home Loan Refinancing, is the process that allows you to benefit from lower home loan interest rates on your home loan. If you have an existing home loan with one lender, you can transfer the outstanding or the remaining amount of the loan to a new lender who will charge you a lower rate of interest. In this way, you can avoid higher interest rates charged by your current lender and migrate to a lower interest rate structure.
For loan amounts of Rs 20 to 75 lakhs, you are eligible to borrow up to 80% of the cost of the property.
For loan amounts above 75 lakhs, you are eligible to borrow up to 75% of the cost of the property.
Refinancing your home loan can boost your financial health by reducing monthly EMIs or the monthly interest you pay to your existing home loan lender.
The criteria for availing Home Loan Balance Transfer depends on the eligibility of an individua.It is based on variables, viz., age, monthly income, etc. Examine your home loan eligibility using our home loan eligibility calculator.
Kotak’s Home Loan Balance Transfer Calculator is a simple tool that calculates your EMI on existing loans and displays your savings upon opting for home loan refinance. It’s the wiser choice to choose a home loan balance transfer.
During your application, being equipped with the documents required for a home loan balance transfer can make the entire process very smooth. We would need your original documents for verification and self-attested copies for submission.
Clicking on ‘Apply Now’ will redirect you to a third party website.
I had a great experience. I want to appreciate the Home Loan RM & branch for the customer centricity & follow ups to keep the things moving.
Reviewed on 04/11/2022
It was good experience. I preferred Kotak bank over other banks due to lower rate of interest and my existing relationship with Kotak Bank.
Reviewed on 04/11/2022
Process of getting Kotak Home Loan was smooth. Would recommend one to choose Kotak Home Loans. Also, RM, Branch team were of great support.
Reviewed on 04/11/2022
Extremely satisfied with the services provided. I really appreciate Kotak Bank & the team for their efforts in helping me buy my first home.
Reviewed on 04/11/2022
The Home Loan Balance Transfer Process comes packed with several benefits. It helps you transfer your outstanding loan amount from your current lender to a new lender with lower interest rates and better terms. It also offers a transfer of your home loan to another bank to avail a top-up loan on your existing loan.
Anyone who fulfils the specified criteria stipulated for home loan refinance is eligible to apply. Your eligibility depends on your income, age, etc. Kotak Mahindra Bank’s home loan eligibility calculator is a simple way to determine your eligibility.
A guarantor becomes a safety net for the applicant in case they default in repayment of the home loan balance transfer. However, there is no mandatory requirement for a guarantor.
According to Section 24b of the Income Tax Law, tax incentives can be granted for the transfer of housing loans, but only if you avail a top-up loan. A borrower can avail a maximum exemption of Rs. 30,000 on the interest paid for the top-up loan per financial year.
If you are an NRI and are looking for a Home Loan, Kotak provides you just that. Check out our NRI Home Loans section.
If you are looking for renovating your home, you can do so by taking Kotak’s Home Improvement Loans
If you are an NRI and are looking for a Home Loan, Kotak provides you just that. Check out our NRI Home Loans section.
If you are looking for renovating your home, you can do so by taking Kotak’s Home Improvement Loans