Things to know about balance transfer
Are you paying a high rate of interest on your home loan? If that is the case, it means most of your monthly loan payment goes as interest. The higher the loan interest, the more interest you would be paying to avail a loan of certain amount. So how can you get out of such a vicious trap? One option is to opt for a home loan balance transfer.
With the help of home loan balance transfer, you can transfer your existing loan from the lender who charges high rate of interest to the one who charges relative less interest. In this way you can repay your loan within a shorter span. Most people who have taken home loans, look out for home loan balance transfer to other reasonable lenders. But before you take such a decision, you must be well aware of the policies and the steps that you must follow to initiate such a transfer. You must keep in mind the EMI subjected by the new lender and the cost involved in transferring the loan. By evaluating all these expenses, you should initiate your home loan balance transfer.
You can apply for a Bajaj Finserv Home Loan Balance Transfer at a low rate of interest along with special benefits like minimal documentation, instant approval within 5 minutes, top-up loans for balance transfer customers and the 3 EMI Holiday feature. Applying for a home loan with Bajaj Finserv gets you all these benefits and more. You can also get home loan disbursal within 72 hours after approval and verification.