Product · Balance Transfer

Home Loan Balance Transfer

Reviewed by Jay Patel· Last reviewed: 25 Apr 2026stale

Balance Transfer (BT) allows you to move your existing home loan, LAP, or business loan from your current lender to a new bank offering a lower interest rate. Even a 0.25% rate reduction can save several lakhs over the remaining tenure. Money Matrix Hub handles the complete transfer process — from identifying the best rate to documentation and disbursal.

Starting rate

8.25% p.a.

Max amount

₹10 Cr

Max tenure

30 yrs

Processing fee

0.25% – 0.50%

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Balance Transfer Interest Rates — All Banks Compared (April 2026)

Compare balance transfer rates from 15 leading banks and NBFCs. Rates updated monthly.

Bank	Rate (p.a.)	Processing Fee	Max Amount	Max Tenure	Highlights
SBI	8.25% – 9%Lowest	0.25% (max Rs 10,000)	Rs 10 Cr	30 yrs	Top-up up to 20% extra
BoB	8.25% – 9%Lowest	0.25% (max Rs 7,500)	Rs 10 Cr	30 yrs	Lowest BT processing fee
PNB	8.3% – 9.05%	0.35% (max Rs 10,000)	Rs 8 Cr	30 yrs	Attractive BT rates
Canara	8.3% – 9.1%	0.50% (max Rs 10,000)	Rs 5 Cr	30 yrs	Competitive BT rates
Union	8.3% – 9.1%	0.50% (max Rs 10,000)	Rs 5 Cr	30 yrs	Attractive BT rates
LIC	8.3% – 9.2%	0.50% (max Rs 10,000)	Rs 5 Cr	30 yrs	Women borrower benefit
HDFC	8.35% – 9.1%	0.50% (max Rs 15,000)	Rs 10 Cr	30 yrs	Top-up up to 25%
ICICI	8.35% – 9.15%	0.50% (max Rs 15,000)	Rs 10 Cr	30 yrs	Up to 30% top-up
Bajaj	8.35% – 9.25%	0.50% (max Rs 10,000)	Rs 5 Cr	30 yrs	Flexi top-up
Axis	8.4% – 9.2%	0.50% (max Rs 10,000)	Rs 5 Cr	30 yrs	Up to 20% top-up
Federal	8.4% – 9.3%	0.50% (max Rs 7,500)	Rs 5 Cr	30 yrs	NRI BT specialist
Kotak	8.45% – 9.25%	0.50% (max Rs 10,000)	Rs 5 Cr	20 yrs	Competitive BT rates
Tata	8.45% – 9.35%	0.50%	Rs 5 Cr	30 yrs	Tata brand reliability
IDFC	8.5% – 9.3%	0.50%	Rs 5 Cr	30 yrs	Competitive BT rates
Bandhan	8.5% – 9.35%	0.50%	Rs 3 Cr	25 yrs	Affordable housing BT

As of April 2026, balance transfer interest rates start from 8.25% per annum and go up to 9.25% per annum across 15 banks, with loans up to Rs 10 crore and tenure up to 30 years. Actual rate depends on applicant profile, loan amount, and property.

Balance Transfer Eligibility Criteria

Check if you qualify. These are general guidelines — actual eligibility may vary by bank.

Salaried Applicants

Age: 21 – 65 years
Min Income: Rs 25,000/month
Experience: 2 years
CIBIL Score: 700+

Self-Employed Applicants

Age: 21 – 70 years
Min Income: Rs 3 Lakhs/year ITR
Business Vintage: 3 years
CIBIL Score: 700+

How to Get the Best Balance Transfer — 5 Simple Steps

Money Matrix Hub handles everything from comparison to disbursal.

Share Your Requirements

Tell us your Balance Transfer needs — amount, tenure preference, and property details. Our advisor will evaluate your profile within 30 minutes.

Compare 40+ Bank Offers

We fetch live rates from all banks and present you a side-by-side comparison showing rate, EMI, processing fee, and total interest payable.

Choose Your Best Offer

Pick the bank that suits you best based on rate, tenure flexibility, and service quality. We explain every term in plain language.

Documentation & Filing

Our team helps you compile the complete document set, fills out the application form, and submits it to the bank — saving you hours of branch visits.

Sanction & Disbursal

We follow up with the bank for swift processing. Expect sanction within 48 hours and disbursal within 7-10 working days. We stay with you until the last rupee is credited.

Frequently Asked Questions — Balance Transfer

Answers to the most common questions from borrowers across India.

When should I consider a balance transfer?

Consider a BT when: (a) another bank offers a rate at least 0.25-0.50% lower, (b) you are in the early years of your loan tenure (more interest left to save), (c) your CIBIL score has improved since the original loan, or (d) you want to top-up and another bank offers better combined terms.

How much can I save with a home loan balance transfer?

A 0.50% rate reduction on a Rs 50 Lakh loan with 20 years remaining can save Rs 6-8 Lakhs in total interest. The exact savings depend on outstanding amount, remaining tenure, and the rate difference. Money Matrix Hub provides a free savings analysis.

What are the costs involved in a balance transfer?

Costs include: processing fee (0.25-0.50% of outstanding), property valuation fee (Rs 5,000-15,000), legal verification fee, and MODT/registration charges in some states. Many banks waive processing fees as a special offer — ask Money Matrix Hub for current fee-waiver deals.

Can I add a top-up loan with a balance transfer?

Yes. Most banks allow a top-up of 10-30% over the transferred amount (within property valuation limits). This is a popular way to get additional funds at home-loan rates rather than taking a separate personal or business loan.

Does a balance transfer affect my CIBIL score?

A balance transfer closes the old loan account and opens a new one, which may cause a minor temporary dip. However, the new lower EMI improves your debt-to-income ratio, which positively impacts your score within 2-3 months.

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