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What is Home Loan Balance Transfer?
Facts About Home Loan Balance Transfer
Benefits of a Home Loan Balance Transfer
Have you been paying high Equated Monthly Instalments (EMIs) on your home loan? Are you
finding it difficult to keep up
with your savings? Has servicing your home loan made it impossible to cater to all your
There’s a way to ensure that you can fully cater to your daily needs,
save more than before, and have enough left to
cover next month’s EMI. Opting for a home loan balance transfer is a smart way to get a
reduced interest rate
allows you to pay fewer EMIs.
Before embarking on a balance transfer of your home loan, you should know
what a home loan balance transfer means,
benefits, and the process of application, before you can make an informed decision to
avail of this benefit.
A home loan balance transfer is a procedure that lets you enjoy a low-interest rate
offered by a different lender. All
you need to do is request to switch your home loan to a new lender. By doing so, you
move the outstanding loan amount to
the new lender, and they get paid the remaining EMIs till the tenor ends.
You should only consider a home loan balance transfer after paying up to 6 months of EMIs
without a default. Some
lenders require that you pay up to 12 months of EMIs.
Below are the features of a home loan balance transfer.
Asides from enjoying a reduced interest rate, there are other things that a balance
transfer offers you. Read on to find
them listed below:
Before applying, you should know the home loan balance transfer rules. These rules help
determine whether you qualify or
not. They are listed below:
Transferring your home loan to a new lender enables you to save money. Below are the
factors that determine how much you
Here’s a list of the documents you need to process a balance transfer of your home loan.
Here is a step-by-step process that’ll guide you during a home loan balance transfer
When you transfer your home loan to Bajaj Housing Finance, we promise you an extra
top-up plus zero end-use
restrictions, low-interest rates, and many more benefits.
You can utilize our Home Loan Balance Transfer Calculator to get accurate information
instantly. Click here to begin
paying less now.
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