Should You Seriously Consider Opting For Home Loan balance Transfer


A home loan balance transfer is a facility when you transfer your existing or old home loan to a new lender to lower your monthly EMIs. This option is exercised when a borrower finds that he is getting a lower rate of interest from another lender than the present one. One should opt for this facility after knowing its benefits. The benefits offered by a home loan balance transfer is given below:


1) With a home loan balance transfer, you get the opportunity to lower your interest rate on your present loan and so your monthly EMIs

2) You also get the flexibility of better repayment terms in case of a home loan balance transfer. IT helps a borrower to get free from debt burden quickly

3) Keep in mind that you would only get a lower rate of interest when you have a good repayment history in the past

4) You can also avail a top up on your existing loan to meet your additional requirements like home renovation, pay for your wedding or funding your child’s higher education

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