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Balance Transfer & Top-Up Home Loan

A process where a borrower transfers the outstanding balance of an existing home loan to another lender offering lower interest rates or better loan terms. A loan facility that allows a borrower with an existing home loan to borrow additional funds on top of their current loan, typically at the same interest rate as the home loan.

Balance Transfer Home Loan

  • The borrower compares the current interest rates offered by various lenders.
  • The borrower applies to a new lender for a balance transfer.
  • Once approved, the new lender pays off the outstanding amount to the original lender, and the borrower starts repaying the loan to the new lender at a lower interest rate.

Top-Up Home Loan

  • Borrowers who have an existing home loan can apply for additional funds on top of their existing loan.
  • The top-up loan is sanctioned based on the borrower’s eligibility, existing home loan repayment track record, and the property’s market value.
  • The interest rate for the top-up loan is generally the same as the home loan or slightly higher, but much lower than personal loan rates.

165+

YEARS OF EXCELLENCE

3.8+ Cr.

ACTIVE CUSTOMER BASE

1300+

BRANCHES ACROSS INDIA

₹3.9 Lakh Cr

AUM AS OF JUNE, 2023

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Reasons to Buy your Balance Transfer & Top-Up Home Loan from NGCFCL Finance Limited

No Branch Visits


  • No Branch Visits

    Apply from home and our team will collect the required documents from your home or office for a seamless experience.

Collateral-free Loans


  • Collateral-free Loans

    Get the loan without the need for collateral. Share key details and receive instant approval for business growth.

Instant Loan Disbursal


  • Instant Loan Disbursal

    Get instant disbursal, thanks to our efficient online processing

Convenient Online Application


  • Convenient Online Application

    Apply online in just three simple steps. No need to wait for months or go anywhere.

Tailored Repayment Options


  • Flexible Tenure

    Tailor your repayment plan to suit your financial goals with our flexible tenure options, ranging from 12 to 36 months.

Balance Transfer & Top-Up Home Loans Features and Benefits

Eligibility Criteria for Balance Transfer & Top-Up Home Loan

Go through the financial and non-financial eligibility criteria explained below to make your loan application process easy:
Non-Financial Eligibility CriteriaFinancial Eligibility Criteria

25-67 years old 

For > Rs. 10L, GST Turnover > 2cr** 

Established for a minimum of 2 years 

Business profitable for 2+ years 

CIBIL score should be 680 or higher 

No LIVE Overdraft facility    

Office set up with name board 

6 months bank statement*** 

On-time GST3RB and GSTR1 filings  

Active and regular GST for more than Rs. 5 Lacs* 

Documents (Digitally fetched) Required for a Balance Transfer & Top-Up Home Loan

Completing the Balance Transfer & Top-Up Home loan applications carefully is crucial for entrepreneurs to increase their chances of approval. So, what are the documents required for a Balance Transfer & Top-Up Home loan? Here’s the list of documents required for a Balance Transfer & Top-Up Home loan application for different types of businesses:
Type of Loan DocumentsSole ProprietorsIndividual Business Owners

Current Account Bank Statement for the Last 6 Months

The entity name on the bank statement should match the name on the business proof submitted.

The business owner's name on the bank statement should match the name on the business proof submitted.

Business Proof Documents

1. GST Form

2.1. If the GST Form is >= 24 months old, either an Udyam Registration Certificate (URC) or any 1 of the following documents needs to be submitted:

  • FSSAI
  • Shop Act License
  • Medical Council of India
  • ICAI – Certificate of Practice
  • ICSI – Certificate of Practice
  • Import Export License

2.2: If the GST Form is less than 24 months old, then URC is mandatory

1. Udyam Registration Certificate (URC)

2.1. If the Udyam Registration Certificate is less than 24 months old, any one of the following documents needs to be submitted:

  • FSSAI
  • Shop Act License
  • Medical Council of India
  • ICAI – Certificate of Practice
  • ICSI – Certificate of Practice
  • Import Export License

Note: The issued date of the document chosen from this list should be >= to 24 months.

KYC Document

  • Aadhaar Card
  • PAN Card
  • Aadhaar Card
  • PAN Card