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Balance Transfer & Top-up

Transfer your Home Loan to
Niwas for better Financial Freedom

There’s a lot more you can do with an existing home loan. Top it up or get your balance transferred to enjoy our home loan solutions that include exciting features. Niwas provides financial solutions that allow you to do transfer your current home loans from other financial institutions. We provide a Balance Transfer (BT) + Top-Up facility with higher eligibility to meet any additional requirement for your home needs such as renovation, extension and more.

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● TOP-UP LOAN OF UP TO 10% OF THE OUTSTANDING PRINCIPAL AMOUNT ● TOP-UP LOAN OF UP TO 10% OF THE OUTSTANDING PRINCIPAL AMOUNT
● TOP-UP LOAN OF UP TO 10% OF THE OUTSTANDING PRINCIPAL AMOUNT ● TOP-UP LOAN OF UP TO 10% OF THE OUTSTANDING PRINCIPAL AMOUNT

Essential features of
your new home loan

Interest-Free Grace Period

Start paying interest only after the Loan Cheque is released.

Dream Homes, Dream Terms

Enjoy long repayment tenure of up to 25 years for BT and 15 years for top-up.

Property Financing Freedom

Fund various types of properties within or outside municipal limits.

Enhanced Loan Eligibility

Get maximum loan eligibility with different lending programs that cover cash and cheque incomes, ITR-based assessment for loans, and existing loan repayment track-based loans.

Tailored Eligibility

Enjoy attractive interest rates, doorstep service, simple, fast and transparent processes.

Prepayment Freedom

Individual borrowers bear no prepayment penalty on floating interest rate loans.

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Document checklist:
What we need from you

Keep the following documents handy to enjoy a simple and hassle-free loan application process:

  • PAN card
  • Passport
  • Voter ID card
  • Driving license
  • Government identity card
  • Aadhaar card

  • PAN card
  • Passport
  • Birth certificate
  • Driving license
  • Aadhaar card (if your date of birth is mentioned)

  • Passport
  • Voter ID card
  • Driving license
  • Latest utility bills such as electricity bill, telephone bill, gas pipeline bill and water bill.
  • Aadhaar card
  • Ration card

  • PAN card
  • Passport
  • Driving license
  • Government identity card

  • PAN card
  • Passport
  • Voter ID
  • Ration card
  • Marriage certificate
  • Aadhaar card (if relationship is mentioned)

  • Certificate under Shops and Establishment Act
  • Certificate of registration
  • Latest utility bills such as electricity bill, telephone bill, gas pipeline bill and water bill.
  • Active bank account statement or passbook
  • Property tax receipt
  • Index II of property
  • Registered rent agreement
  • Certificate issued by professional body incorporated under relevant statute.

  • Partnership firm: Partnership deed
  • Company: Certificate of incorporation, Memorandum of Association, Articles of Association, latest CA-certified list of directors and shareholding pattern.
  • Trust: Registration certificate and deed of trust
  • Professionals: Qualifications and registration certificate

  • Certificate under Shops and Establishment Act
  • Certificate of registration
  • Certificate issued by professional body incorporated under relevant statute.

  • Last 2 years audited CA-certified financials along with schedules, sub-schedules/tax audit report (if applicable), computation of income, ITR acknowledgement provisional financials (if applicable), along with VAT returns/GST returns to validate provisional sales figures.
  • Last 3 months salary slip along with their reflection in your bank account (in case of salaried individuals).
  • Form 16 for last two years.

  • Last 12 months bank statements of all active bank accounts.
  • Last 12 months saving bank account of partners and directors (in case of partnership firm/company).

  • Sanction letter of all existing facilities availed from existing bankers/financial institutions/repayment track record for last 12 months (statement of accounts/banking reflections) of all existing loans/statement of accounts for the last 12 months (mandatory in the case of BT for the facility to be taken over).
  • Copy of property papers proposed to be offered as collateral.
  • List of documents and foreclosure letter (mandatory in the case of BT for the facility to be taken over).
  • Any other information required on case-to-case basis.

  • Copy of complete chain documents of the property (as applicable).
  • Copy of agreement to sell (if executed).
  • Copy of allotment letter/buyer agreement (if applicable).
  • Copy of receipt/s of payment/s made to the developer (if applicable).

Disclaimer: The above list is indicative and may require additional documents depending on your case.

Clarifying doubts:
Frequently asked questions

A home loan balance transfer with Niwas Housing Finance allows you to transfer your existing home loan from another lender to Niwas Housing Finance to benefit from lower interest rates or better terms. Additionally, a top-up loan provides you with extra funds over and above your existing loan, enabling you to meet additional financial needs without taking a separate loan.

A top-up loan is an additional loan amount offered over your existing home loan. It allows you to access extra funds for personal or financial needs without applying for a separate loan, offering convenience and better interest rates compared to unsecured loans.

Niwas Housing Finance’s home loan balance transfer and top-up offer multiple benefits, including lower interest rates, reduced EMIs, access to additional funds, and the convenience of consolidating your debt. It also provides the opportunity to renegotiate loan terms, ensuring better financial management and savings over the loan tenure.

To be eligible for a home loan balance transfer and top-up, you should have a good credit score, a stable income, and a positive repayment history with your existing lender. The property should meet the criteria, and the loan should typically be at least six months old with a clear repayment track.

Niwas Housing Finance requires documents such as identity proof, address proof, income proof (salary slips, bank statements, ITR), property documents (title deed, loan statement from the existing lender), and a no-objection certificate (NOC) from the current lender. Additional documents may be requested based on your specific profile.

The tenure is decided based on the borrower’s profile, the outstanding loan amount, and lending policies, providing flexibility in managing EMIs over the long term.

Yes, the agreement for sale to be registered when applying for a home loan balance transfer or top-up. Registration ensures the legal validity of the property transaction, which is essential for processing the loan and safeguarding the interests of both the lender and the borrower.

Niwas Housing Finance allows you to transfer your home loan from most banks, provided the existing lender’s loan terms and conditions align with Niwas Housing Finance’s policies. It’s important to check regarding specific eligibility criteria for transferring your loan.

One can expect a top-up loan amount based on the current market value of the property and the outstanding loan amount. The exact top-up amount varies, but it generally ranges up to 70-80% of the property's current market value minus the existing loan balance.

There may be charge processing fees, administrative charges, or other nominal fees for a home loan balance transfer. These charges are typically a small percentage of the loan amount and are disclosed transparently during the loan application process.

A home loan balance transfer typically takes 2 to 4 weeks to process, depending on documentation, verification, and approval.

Changing your home loan lender generally takes 2 to 4 weeks. The process involves documentation, verification, and approval stages.

The minimum amount required is ₹3 lakhs for a home loan balance transfer. This ensures that the transfer process is cost-effective and beneficial for the borrower, offering better interest rates and loan terms.

You can apply for a home loan balance transfer and top-up after completing at least 6 months of repayment with your current lender. A good repayment track and stable income are key factors considered when processing your application.