Balance Transfer
Balance Transfer
Balance Transfer Facility in Gurgaon, New Delhi, and NCR from Leading Banks
A balance transfer allows you to shift your existing loan from one lender to another, usually to take advantage of lower interest rates or better terms.
We help you stay updated with your current loan rate versus the most competitive rates available, ensuring you don’t overpay on interest.
- Zero transfer fees on Home Loans.
- Minimal paperwork and hassle-free process.
- Option to avail additional top-up loan after transfer.
- Seamless switch from Base Rate to Repo Rate-linked loan.
Why Do Borrowers Transfer Their Loans?
Better Interest Rates: The main reason borrowers choose to transfer their loan is to secure a lower interest rate. With most home loans offering no foreclosure charges, transferring the loan is a cost-effective way to save money, especially when the process is straightforward with minimal documentation.
Need for Additional Funds (Top-up Loan): Another key reason for loan transfer is the requirement for extra funds beyond the current loan balance. Many lenders provide Top-up loans alongside the balance transfer, often at competitive home loan rates, making it an appealing option for borrowers looking to borrow more.
What Are the Benefits of Transferring a Loan?
Lower Interest Rate: Transferring your loan to a lender offering a lower rate can lead to significant savings. You can use our balance transfer calculator to estimate your potential savings before making a decision.
No Charges: Thanks to a government regulation, no lender can charge foreclosure fees on loans with variable interest rates, meaning balance transfers come at zero cost for the borrower.
Top-up Loan at Home Loan Rates: When you transfer a loan, many banks offer a Top-up loan at home loan rates, which is a cost-effective way to raise additional funds. For more information on balance transfer with a Top-up loan, visit our page dedicated to this offering.
Documents Needed for Loan Transfer:
Along with the general documentation listed on our documentation section, you will need to provide the following additional documents for a balance transfer:
- List of mortgaged documents from your current lender.
- Foreclosure letter from your current lender.
- Statement of account from your existing lender.
- Complete property documents for verification.
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