The document explains the process of taking over a loan from one lender to another, often for better interest rates and improved loan terms. It outlines the steps to find a lender, the necessary documentation, and highlights that there are no prepayment penalties or additional fees. It also discusses the option to combine debts and obtain a top-up loan, providing eligibility criteria and required documentation.

2.  The borrower may
move an existing
loan from one
lender to another by
using a take over
loan. This can be
done for a number
of reasons, such as
to get a lower
interest rate on a
mortgage.

3.  Track down a
lender that
provides takeover
loans.
 documentation
 Apply for the loan
 Close the loan
 Pay off the
existing loan

4.  Interest rates are
low
 Minimal Processing
Fee
 No Additional Fees
 There are no
prepayment
penalties or interest
fees for daily
balance reductions.
 Additionally, there
is a top-up facility.

5.  To get a lower
interest rate
 To make your loan
terms better
 Getting your debts
combined

6.  Determine the overall
outflow.
 Examine the processing
costs and related
expenses.
 Outstanding to
Collateral Ratio
 Requirements for allied
accounts' costs and
benefits
 Conditions that apply to
loans
 Other available
attached frills

7.  While your current
lender may allow you to
take out a top-up loan,
you also have the
choice to transfer your
home loan balance and
obtain a top-up loan
from a new lender.
 Going with a home loan
balance transfer and
top-up loan makes
sense if you have the
choice between the
two.

8.  AGE- 21 to 65 years
old
 PROFESSION
Paid/Self-Employed
 NATIONALITY Indian
resident
 GENDER-All Genders
8

9.  Voter ID Card
 Aadhaar Card
 Valid Driving
License
 Valid Passport
 Last three months'
salary slips
 Most recent
income tax returns
and Form-16
9

10. To know more loans:
Home loans plot loans
Top-up loans takeover loans
Home improvement loans
Home Extension loan
10