Balance Transfer

Transfer all existing Personal Loans and credit card outstanding balance under a single umbrella with low IRR

• Repayment tenure 12 months to 60 months.
• Get a reduced EMI for your current personal loan.
• An industry lowest rate of interest for your personal loan post a Balance Transfer.
• A Balance transfer with the extra loan amount needed at the same rate of interest.
• A suitable & convenient tenure for the repayment of your Personal Loan.
• Compare all the Banks & choose the most suitable Bank with Us
• By this initiative the Banks taking over the Personal loan are assured of an increased turnover with a minimum default. To Lure good customers & convince them to transfer their personal loan, better terms & conditions are offered such as a minimal Rate of Interest & processing charges.

Eligibility for Personal Loan Balance Transfer

• To be eligible for a Balance Transfer the principal balance of the existing Personal loan should be more than 50,000.
• The parent bank should accept the applicant’s request to pre close the Personal loan: the terms & conditions for pre closure as stated in the personal loan agreement should be fulfilled. The applicant should have repaid the number of EMI’s mandatory to facilitate a pre closure.
• The repayment track of the personal loan in question must be clear with an on time repayment record.

Personal Loan Balance Transfer – When to Avail?

A Personal Loan is quick finance available at the time of need. If a Personal Loan has been taken in an emergency there might not have been enough time at hand to survey the market for the best terms & conditions available.

One need not be worried as there is an option available to get the best deal available by taking a Balance transfer of the current Loan. Customers should seek a Balance transfer early in the tenure to gain the most. The reason for Balance transfer of the Personal Loan can be any of the following;

For a lower Rate of Interest– Banks offer the best rates are available for a Personal Loan Transfer of Customers with a good track record. Customers who are paying an inflated rate of interest should consider taking a Balance transfer of their personal loan as soon as permitted.

To reduce the current EMI – If paying the current EMI is becoming a burden on your budget it is good decision to take a Balance transfer of you personal loan. A lower EMI can be achieved by increasing the tenure for which the Loan has been granted.

To get an additional Loan amount or Top Up-The rate of interest offered for a Balance transfer is also valid for additional funds required. Together with a request for Balance transfer of the Personal loan apply for the extra amount you need as a top up. Get the additional funds in a single loan, with the lowest rate of interest.

Documents Required

• Recent passport size photograph
• Identity & Age Proof
• Address proof.
• Latest 3 months payslips & 3 months bank statement.
• Personal loan track/Repayment schedule/Fore closure letter of the existing loan is required.