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Balance Transfer of Home Loan
If you are struggling to repay your Home Loan, a Balance Transfer could be an excellent solution. By transferring your outstanding Balance to a New Lender, you can enjoy lower Interest Rates, reduced EMIs, and significant savings over the long term.
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Home Loan Balance Transfer :
A Home Loan Balance Transfer is a process of transferring your outstanding Balance from your existing Lender to a New Lender. By doing so, you can take advantage of lower Interest Rates and other benefits that your New Lender may offer.
Why should you consider a Home Loan Balance Transfer?
There are several reasons why you may want to consider a Home Loan Balance Transfer, including:
- • To reduce your Interest Rate and EMIs
- • To enjoy better customer service from a New Lender
- • To take advantage of additional features and benefits that your New Lender may offer
List of papers/ Documentation required to all Applicants:
- • Employee Identity Card
- • Loan Application: Completed Loan Application form duly filled with 3 Passport size photographs
- • Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
- • Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/Piped Gas Bill or copy of Passport/ Driving License/Aadhar Card
Benefits of a Balance Transfer
Some of the key benefits of a Home Loan Balance Transfer include:
- • Lower Interest Rates
- • Reduced EMIs
- • Additional features and benefits from your New Lender
- • Improved Customer Service
Process of applying for a Home Loan Balance Transfer is relatively simple. Here are the steps involved:
- Check your eligibility for a Balance Transfer with your New Lender
- Submit your application with all the necessary documents
- Wait for your New Lender to approve your Application
- Once approved, your New Lender will pay off your outstanding Balance to your existing lender, and you can start repaying your New Lender at the new interest rate.
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Did You Know ?
You can save money on taxes by taking advantage of the tax benefits associated with your Home Loan.
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You can transfer your Home Loan to us and get additional benefit of Top-Up Loan.
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A higher CIBIL Score will help to get better Home Loan interest rate.