Looking to ease your monthly financial burden? With Magma Housing Finance Limited (Magma HFL) Home Loan Balance Transfer,
you can reduce your EMIs, enjoy better interest rates, and streamline repayment
without the hassle of starting from scratch.
This facility allows you to transfer your current home loan from another bank or financial institution to Magma HFL at competitive interest rates, flexible terms, and minimal documentation.
Lower Interest Rates:
Take advantage of affordable home loan interest rates, starting from insert updated range here.
Flexible Repayment Options:
Tenures up to 30 years to suit your financial planning.
Top-Up Loan Facility:
Need extra funds? Get a top-up loan with documentation and quick approvals.
Quick Processing:
Hassle-free transfer with minimal paperwork and fast approvals.
No Hidden Charges:
Transparent policies with low processing fees and zero ambiguity.
Magma HFL Home Loan Balance Transfer Interest Rates
The estimated Equated Monthly Installments (EMIs) for a ₹2,00,000 home loan balance transfer from Magma Housing Finance Limited (Magma HFL), based on various interest rates over a 20-year tenure (240 months):
| Loan Amount |
Loan Tenure |
Interest Rate (% p.a.) |
Estimated EMI (₹) |
| ₹2,00,000 | 20 years | 8.50% | ₹1,956.62 |
| ₹2,00,000 | 20 years | 9.50% | ₹2,119.10 |
| ₹2,00,000 | 20 years | 10.00% | ₹2,202.17 |
| ₹2,00,000 | 20 years | 12.50% | ₹2,633.58 |
| ₹2,00,000 | 20 years | 14.00% | ₹2,903.22 |
| ₹2,00,000 | 20 years | 16.00% | ₹3,272.51 |
Eligibility Criteria for Magma HFL Balance Transfer
Magma HFL caters to a wide range of borrowers, including salaried, self-employed professionals, and entrepreneurs. To be eligible:
- You must have a track record of on-time payments for 12 months or more.
- Your existing home loan must be with an RBI/NHB-recognized lender.
- Your credit score should ideally be 650 or above.
- Age: 21 to 60 years (salaried) / 21 to 65 years (self-employed)
- Applicants who need additional funds via a top-up loan.
For more, check the eligibility calculator.
Documents Required
The documentation process is simple. Commonly required documents include:
- KYC Documents (PAN, Aadhaar, etc.)
- Loan sanction letter and account statement
- Income Proof (Salary slips, ITRs, bank statements)
- Property documents (Sale deed, NOC, loan agreement)