Instant Loan for House Shifting: Your Best Options

When you're planning to shift house in the next few weeks, an instant loan for house shifting is often the fastest way to cover relocation costs. These loans are unsecured personal products used for moving expenses, and lenders don't restrict how you spend the money once approved.

This guide shows you which banks and apps approve fastest for this purpose, what rates to expect, how much you can borrow, and whether you qualify. We also explain the key difference between this type of loan and a home-loan balance transfer, which ranks on the same search but serves a completely different purpose.

Key Takeaways

• An instant loan for house shifting is unsecured with no collateral required. Most approve within 24 to 48 hours for new applicants with a credit score above 700.
• Packers and movers fees, security deposits, temporary housing, and home setup costs are the main expenses covered.
• Existing bank customers with pre-approved offers get funds in under 10 minutes. New applicants typically wait 24 to 48 hours with complete documents.
• Banks offer rates from 10.25% to 15% p.a. NBFCs range 11% to 18% p.a. App-based lenders charge 17% to 30% p.a. but approve much faster.
• You need age 21 to 60, monthly income Rs. 15,000+, credit score 650+, and employment stability of at least 6 to 12 months.

What Expenses Can You Cover?

House-shifting loans cover all the actual costs of moving. Here are the main categories:

Packers and movers fees

Local moves within the same city cost Rs. 5,000 to Rs. 15,000. Inter-city relocations range from Rs. 15,000 to Rs. 50,000+ based on distance and household size.

Security deposit on new rental

Most landlords require 2 to 6 months of rent as a deposit upfront. If your new place costs Rs. 30,000 monthly, you'll need Rs. 60,000 to Rs. 1,80,000 in cash on day one.

Brokerage and registration fees

Property agents typically charge 0.5% to 1% of annual rent as brokerage. For a Rs. 30,000 rental, that's Rs. 1,800 to Rs. 3,600. Registration adds another Rs. 500 to Rs. 2,000.

Temporary housing and travel

Hotel stays during the moving period cost Rs. 1,000 to Rs. 3,000 per night. Travel expenses for your family and pets add more to the total.

Utility connections

Electricity deposits, water connection, internet setup, and gas connection typically total Rs. 2,000 to Rs. 5,000 across all services.

Furniture and home setup

Basic furniture, kitchen appliances, and minor repairs typically cost Rs. 10,000 to Rs. 50,000 depending on the property's condition.

How Does Disbursal Work?

Speed depends entirely on whether you're an existing customer or applying for your first instant loan for house shifting.

For existing bank customers with pre-approved offers

Check your mobile banking app for pre-approved loan offers. Accept the offer, and funds reach your account in under 10 minutes. No fresh documents or branch visit needed.

For new applicants with credit score above 700

Gather documents (Aadhaar, PAN, last 3 salary slips, bank statements) and apply online or at a branch. Most lenders decide within 24 to 48 hours if your profile is clean. Disbursal follows within 1 to 2 working days after approval.

For first-time borrowers or self-employed applicants

Expect 2 to 3 working days end-to-end for final approval and disbursal. Lenders need additional proof: 12 months of income tax returns for self-employed, 2 years of business stability, and employment letters.

Which Lenders Approve Fastest?

Here's how traditional banks and non-bank lenders compare for house-shifting loans:

Public-sector banks

SBI Personal Loan ranges from Rs. 25,000 to Rs. 40 lakh at 11.05% starting rate for salaried employees. Approval takes 5 to 7 working days for new applicants.

HDFC Bank offers Rs. 25,000 to Rs. 40 lakh at rates from 10.25% to 15% depending on credit score. Existing customers get 24 to 48 hour disbursal; new applicants typically wait 3 to 5 days.

ICICI Bank provides Rs. 25,000 to Rs. 50 lakh with rates starting from 9.99% p.a. up to 24%. Existing salary-account holders often get same-day approval via the mobile app.

Non-bank financial companies

Bajaj Finserv approves from credit score 685 (lower than most banks) up to Rs. 40 lakh at 11.50% to 15.99% p.a. Processing takes 3 to 5 working days with zero foreclosure charges.

Fullerton starts from credit score 650 for amounts up to Rs. 25 lakh at 11.99% to 19.99%. Approval takes 5 to 7 working days, and they accept both salaried and self-employed borrowers.

Fintech and mobile-first apps

KreditBee disburses within 2 to 4 hours for pre-approved users, up to Rs. 10 lakh at 12% to 28.50% p.a. The process is fully digital with zero paperwork required.

Fibe approves up to Rs. 5 lakh in under 4 hours at 12% to 36% p.a. This app works best for smaller loans between Rs. 50,000 and Rs. 1 lakh.

You can compare all options and check eligibility on our compare personal loan apps page to see which lender gives you the best rate for your income level.

What Are the Eligibility Requirements?

Eligibility is fairly standard across most lenders, though salaried applicants qualify more readily than self-employed:

Age, income, and credit score

You must be 21 to 60 years old with monthly income of Rs. 15,000 or more. Most lenders require a credit score of 650 or above; scores of 700+ get significantly better rates and approval odds.

Employment stability

Salaried employees need minimum 6 to 12 months at their current job. Self-employed applicants need 2 years of business continuity and regular income documentation.

Required documents

For NBFCs and fintech apps: Aadhaar, PAN, and last 3 months of salary slips or bank statements only.

For public-sector banks: Add 6 months of personal bank statements and an employment letter or contract.

For self-employed applicants: Replace salary slips with 2 years of income tax returns and 12 months of business bank statements.

Most lenders accept fully digital submission through their mobile app. A few require in-person verification, adding 2 to 3 extra working days.

Important distinction

Home-loan balance transfer is not the same as a house-shifting loan. Balance transfer means switching an existing mortgage to another bank for a lower rate. This only applies if you already own a mortgaged property. House shifting pays moving costs upfront for renters or first-time homebuyers. These serve completely different needs.

Frequently Asked Questions

How do I get an instant loan for house shifting right now?

Only existing bank customers with a pre-approved offer get funds in under 10 minutes. For new applicants, realistic timeframes are 24 to 48 hours if you have a credit score above 700 with complete documents. First-time borrowers should plan for 2 to 3 working days.

Can I get the loan without putting up collateral?

Yes, absolutely. All personal loans are unsecured. No property, gold, or vehicle is required. Lenders approve based on your credit score, income, and employment history alone, according to RBI guidelines on personal lending.

What interest rate should I expect?

Banks charge 10.25% to 15% p.a. based on your credit score. NBFCs range from 11% to 18% p.a. App-based lenders charge 17% to 30% p.a. A 700+ score gets the best rates; scores between 650 to 700 face higher rejection odds at private banks.

How much can I borrow?

Banks typically lend up to Rs. 40 lakh for qualified salaried employees. NBFCs max out at Rs. 10 to 25 lakh depending on their policies. Fintech apps cap at Rs. 5 lakh maximum. Your actual approved amount depends on monthly income and credit score.

What's the difference between shifting and balance transfer?

These are two separate products. Shifting loans pay for moving costs like packers, deposits, and setup expenses. Balance transfer means switching an existing home mortgage to a different lender for a lower interest rate. Balance transfer is only for people who already own a mortgaged property.

Which lender gives the fastest approval?

Existing customers with pre-approved offers at HDFC, ICICI, or SBI get funds in under 10 minutes via the mobile app. For new applicants, ICICI typically approves in 24 to 48 hours. For the fastest small loans under Rs. 1 lakh, fintech apps like Fibe and KreditBee disburse in 2 to 4 hours.

Should I apply to multiple lenders at once?

No, avoid this approach. Each application triggers a hard credit inquiry that reduces your score by 3 to 5 points. Multiple inquiries within 30 days damage your approval odds with other lenders. Instead, check private banks with easy loan approval on our site to compare which approve you before applying.

Can self-employed people get these loans?

Yes, self-employed individuals can borrow for house shifting. Submit 2 years of income tax returns, 12 months of business bank statements, or a CA-certified profit and loss statement. NBFCs like Bajaj serve self-employed borrowers, though processing takes 5 to 7 days and rates run slightly higher than for salaried employees.