Make yourself aware of the advantages of home loan transfer - Loan Trivia


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Wednesday 15 December 2021

Make yourself aware of the advantages of home loan transfer

home loan balance transfer

Are you an existing home loan borrower? 

Is your current home loan interest rate is higher than market rates? 

Do you think you are paying a higher home loan interest rate leading to an increased home loan EMIs?

If answers to these are ‘Yes’, you don’t have to worry!

It is because you can apply for home loan balance transfer and reduce your interest spending. 

Let’s check out the advantages of the home loan balance transfer in this post!

Home loan balance transfer benefits at a glance 

  1. Low home loan interest rate

One of the major reasons most borrowers opt for a home loan balance transfer is the reduced interest rate offered by another lender. Once you go for a lower home loan interest rate, your EMI will reduce. Hence, the total cost of the loan will also reduce. 

  1. A higher amount top up loan 

Once you transfer an existing home loan to a new lender, you may enjoy high value top up loan. You can enjoy a top up loan of up to Rs.50 lakh. It is up to you to use the top up loan amount at your own discretion. Be it for home renovation to medical emergencies, to more usages; you can use the top up loan for anything. 

  1. No prepayment and foreclosure charges 

When you apply for a home loan balance transfer from a leading lender, you can also enjoy an excellent part prepayment and foreclosure terms. You do not have to pay any extra charges for paying prepayment and foreclosure. 

If you want to save on your home loan interest rate charges and even take up a large amount to cover other needs, you can apply for a home loan balance transfer. It is definitely worth the shot if you want to reduce the cost of your ongoing home loan.

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