BALANCE TRANSFER

What Are The Benefits of Balance Transfer?

• Better rate of interest compared to the current lender.

• Longer tenure on home and personal loans compared to the current lender.

• Top-up loan facility, wherein the banks/financial institutes can offer the applicant additional credit.

• Reduced monthly EMI.

In today’s time, switching home/personal loan balances to another financial provider has become straightforward with no penalty. As such, we can help speed up the process, ensuring that you get a better deal.

Fill in the enquiry form if you have queries, and one of our team members will get in touch with you!

Eligibility For Personal Loan Balance Transfer

• For existing loans, there shouldn’t be any default on EMIs.

• At least 12 EMI on existing loan should be paid by the applicant.

• There should be a minimum outstanding loan amount toinitiate the balance transfer process (this varies from bank-to-bank).

*Should have a good credit/loan history.

*Note: Different banks/financial institutes have different eligibility criteria.

Balance Transfer For Salaried Individual (Documents Required)

• Proof of Identity (PAN Card) of residence Applicant & Co-Applicant.

• Proof of Address (Aadhaar Card or Passport) of residence Applicant & Co-Applicant.

• Latest salary slipsfor the last six months

• Form-16 issued by the current employer.

• Bank statements for the last 12 months (from which the loan EMI is paid).

• Statement of personal/homeloan from current lender.

• Photo of Applicant & Co-Applicant.

Balance Transfer For Self Employed Professional (Documents Required)

• Proof of Identity (PAN Card) of residence Applicant & Co-Applicant.

• Proof of Address (Aadhaar Card or Passport) of residence Applicant & Co-Applicant.

• Business and Office Proof.

• Bank statements for the last six months (from which the loan EMI is paid).

• Photo of Applicant & Co-Applicant.

• Last 3 years balance sheet and profit and loss statement.

• Statement of personal/homeloan from current lender.

“GST Certificate”(for self employed) & “Bank Statement”