Home Loan Balance Transfer

The same individually-verified rates as this app's Lowest Home Loan Rate list — the lender with the lowest real rate is exactly who you'd want to transfer an existing loan to.

The Top 10

Methodology

Same rates, a different question

Same underlying research as /discover/lowest-home-loan-rate: every lender here was individually verified for its current effective rate. The question "which lender has the lowest real rate" is identical whether you're taking a fresh loan or moving an existing one, so this list reuses that same ranking rather than a separate analysis.

One thing worth knowing before you compare "zero foreclosure charge" claims: RBI mandates NO foreclosure or prepayment charges on ANY floating-rate individual home loan, at every lender — so it's the regulatory floor everyone here already sits at, not a special benefit any one bank is offering you. Factor in the new lender's processing fee and any legal/valuation costs against your actual rate savings before switching.

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Home loan balance transfer offers in India

A balance transfer moves your outstanding home loan to another lender offering a lower interest rate. On a large, long loan, the saving in interest can be substantial, especially early in the term when most of each instalment is interest.

Weigh the saving against the cost of switching: the new lender's processing fee, legal and valuation charges, and any charges on your existing loan. This list shows lenders offering transfers so you can work out whether moving is worth it.

The ranked list, in plain text

  1. Canara Housing Loan (Canara Bank): interest 7.15% to 10% p.a.. The lowest verified floor rate in this pool at 7.15% — genuinely no hard CIBIL cutoff (scores below 650 are still priced, just higher), plus a relatively low ₹10,000 processing-fee cap.
  2. Baroda Home Loan (Bank of Baroda): interest 7.2% to 8.95% p.a. · up to ₹20,00,00,000. Also 7.20% at the floor, with a high ₹20 crore max loan amount for big-ticket purchases — but expects a firmer profile (CIBIL 701+, ₹5L/year minimum income) than its PSU peers here.
  3. Cent Home Loan (Central Bank of India): interest 7.2% to 8.75% p.a. · up to ₹5,00,00,000. 7.20% floor with one of the lowest processing-fee caps in this pool (₹20,000) and a currently-running full fee waiver promotion (until 31 Dec 2026, conditions apply) — worth checking if it still applies when you apply.
  4. PNB Housing Loan (Punjab National Bank): interest 7.2% to 8.4% p.a.. Ties for the second-lowest floor at 7.20%, with the tightest overall spread here (7.20-8.40%) and an explicitly published 'no minimum CIBIL score' policy — a clear sanction timeline (5-7 days) too.
  5. SBI Regular Home Loan (State Bank of India): interest 7.25% to 8.45% p.a.. India's largest home loan book at 7.25%, with the lowest processing-fee cap here (₹12,000) and a Maxgain overdraft-linked repayment option most PSU peers don't offer.
  6. Star Home Loan (Bank of India): interest 7.35% to 8.7% p.a. · up to ₹5,00,00,000. 7.35% floor for a CIBIL 675+ applicant — a meaningfully lower bar than several PSU peers here, plus a construction moratorium of up to 36 months if you're building rather than buying ready.
  7. Union Home Loan (Union Bank of India): interest 7.45% to 10% p.a.. 7.45% floor, but currently the only lender in this pool with processing fees fully waived — worth comparing against the lower-rate options above once you net out that saving.
  8. Maha Super Housing Loan Scheme (Bank of Maharashtra): interest 8.1% to 10.3% p.a.. A noticeably higher 8.10% floor than the rest of this PSU-heavy pool, but a genuine, unusual perk: your last 2 EMIs are waived entirely for consistently on-time repayment.
  9. HDFC Home Loan (HDFC Bank): interest 8.35% to 15.15% p.a.. The strongest private-bank rate in this whole survey at 8.35% — still above every PSU bank here, but with faster digital processing and more flexible repayment structures (step-up, flexible EMI) than any PSU option.
  10. IB Home Loan (Indian Bank): interest 8.4% to 10.3% p.a. · up to ₹10,00,00,000. The highest floor rate in this pool at 8.40%, but a fully digital application flow (Ind Smart) and no prepayment charges — worth it if approval speed matters more to you than shaving off a fraction of a percent.

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