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Kagaznama

Loan Balance Transfer Request

At a glance

Price
Free
Stamp duty
No stamp duty — not an 'instrument' under s.2(14), Indian Stamp Act 1899.
Registration
Not registrable (s.17, Registration Act 1908).
Witnesses
Not required; borrower signatures and documents matter more.

Free

Documents are free. Only kits are paid.

Free: up to 5 documents a day.

Guided questions, full draft on screen, download in Word.

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Also called

  • home loan takeover request
  • mortgage refinance balance transfer
  • transfer housing loan to new bank

When you need it

A new lender takes over your home loan balance — more than a lower advertised rate. It reassesses title, valuation and security; the old lender gives a payoff figure and releases documents on an agreed sequence. State the outstanding, rate, transfer reason, document custody and charge-release mechanism; RBI's rate-reset disclosures apply to floating EMI loans too.

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You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

No stamp duty — not an 'instrument' under s.2(14), Indian Stamp Act 1899. Plain paper; the loan agreement, deposit memorandum, mortgage and guarantee are stamped separately.

Registration

Not registrable (s.17, Registration Act 1908). The mortgage itself needs registration if Rs 100+, unless by deposit of title deeds — two witnesses (s.59, TPA 1882).

Notarisation

Not required unless the lender wants an affidavit.

Witnesses

Not required; borrower signatures and documents matter more.

Request Stamp Paper

Sample preview — placeholder answers, not your data

LOAN BALANCE TRANSFER REQUEST

Request date: 2 April 2026

To proposed lender ABC Bank Ltd, Sector 17, Chandigarh.

Borrower: Aarav Sharma, Sector 21, Panchkula. Phone: +91 XXXXX XXXXX; email: aarav@example.com. New application: HL-2026-118

Property: Apartment 804, ABC Heights, Airport Road, SAS Nagar, Punjab (Apartment/flat), Tower B, Apartment 804, ABC Heights.. Stage: Property identified; agreement not yet signed. Property value: ₹1,20,00,000 (Rupees One Crore Twenty Lakh only).

EXISTING LOAN

Existing lender: Old Bank Ltd. Loan: Home loan ending 2211. Outstanding: ₹72,00,000 (Rupees Seventy Two Lakh only). Rate type: Floating rate. Current stated rate: 8.75%.

Reason: Lower expected interest cost. Details: Applicant seeks lower spread and fixed-rate switch option.

PAYOFF AND SECURITY

Foreclosure statement: Current foreclosure statement attached. Quote date: 1 April 2026 Original documents: Existing lender holds originals. Release/takeover sequence: New lender pays existing lender against simultaneous release/transfer of security documents.

NEW REQUEST

New loan amount requested: ₹72,00,000 (Rupees Seventy Two Lakh only). Top-up position: Balance transfer only.

Please assess the takeover and provide your sanction, total cost/fees, payoff procedure and security/document-transfer requirements before any funds are released to the existing lender.

LEGAL BASIS

In Punjab the holder of a site allotted by a development authority cannot transfer any right in it without the authority's previous permission (section 43(7) of the Punjab Regional and Town Planning and Development Act, 1995), so a mortgage of such a site needs the authority's permission to mortgage, which it gives only to the allottee on its file. A mortgage by deposit of title deeds needs no registered deed, and a Punjab Non-Encumbrance Certificate cannot show it, which is why lenders also search the Central Registry of Securitisation Asset Reconstruction and Security Interest of India. When the old loan is repaid, the discharge or reconveyance of the mortgage and the removal of the charge from the Central Registry and the Sub-Registrar's records are the outgoing lender's steps to complete.

PERSONAL DATA NOTICE

This notice is given under the Digital Personal Data Protection Act, 2023.

Personal data in this document is collected only to apply for and administer the proposed balance transfer of the existing property loan, communicate about that purpose, verify expressly supplied lending and property information, and retain an evidentiary application record.

The record will be held by Kagaznama and may be shared only with the applicant, co-applicant, lender or housing-finance company, authorised loan-processing agent, employer or income verifier, advocate, valuer, technical professional, insurer, registering authority, Central Registry/CERSAI-related service, or other person directly involved in the stated loan process.

Questions about this document

Does the Loan Balance Transfer Request need stamp paper or stamp duty in Punjab and Chandigarh?

No stamp duty — not an 'instrument' under s.2(14), Indian Stamp Act 1899.

See the full position on stamp duty, registration and witnesses
Does the Loan Balance Transfer Request need registration in Punjab and Chandigarh?

Not registrable (s.17, Registration Act 1908).

See the full position on stamp duty, registration and witnesses
What does the Loan Balance Transfer Request cost on Kagaznama?

Free.

Documents are free. Only kits are paid.

Does the Loan Balance Transfer Request need witnesses?

Not required; borrower signatures and documents matter more.

See the full position on stamp duty, registration and witnesses

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