Loan Balance Transfer
Transfer your existing loan to another bank offering lower interest rates and reduce your EMI burden. Save thousands over your loan tenure.
Check Eligibility Apply NowWhat is Loan Balance Transfer?
Loan Balance Transfer allows you to shift your existing loan from one bank to another at a lower interest rate. This helps reduce EMI, shorten tenure, or save significant interest cost. It is commonly available for Home Loans, Personal Loans, and Business Loans.
Benefits of Balance Transfer
Lower Interest Rate
Reduced EMI
Interest Cost Savings
Top-Up Loan Option
Better Service & Terms
Flexible Tenure Adjustment
EMI Savings Calculator
Switching to a lower interest rate can significantly reduce your financial burden. Even a 0.5% reduction can lead to substantial savings over long tenure loans.
Eligibility Criteria
| Criteria | Requirement |
|---|---|
| Loan Type | Existing Running Loan |
| Repayment History | Good Track Record |
| CIBIL Score | 650+ |
| Minimum EMI Paid | 6–12 EMIs Completed |
Documents Required
| Category | Documents |
|---|---|
| Identity Proof | PAN & Aadhaar |
| Existing Loan Statement | Last 6 Months |
| Income Proof | Salary Slip / ITR |
| Bank Statement | 6 Months |
Frequently Asked Questions
Is there any processing fee? – Yes, minimal transfer charges may apply.
Can I get extra loan? – Yes, top-up option may be available.
How much interest can I save? – Depends on rate difference and tenure.
Is foreclosure required? – Yes, existing loan must be closed.
Does CIBIL matter? – Yes, good credit score improves approval chances.