Why Balance Transfer Required?
- Loan having a very long tenure like up to 30 years bounded to spend a large amount of your income in servicing it.
- Total Loan Amount contains more than 50% as an interest amount.
- You can maintain interest rate at lowest by transferring your loan from higher interest to lower one by Balance Transfer.
- It gives better benefits at initial years of loan as you pay the highest interest component in the initial years.
What are the benefits of transferring home loan?
- Reduction in interest rates from higher rates
- Reduction in EMI
- Option to avail top up loan at same rate as home loan rate on certain condition.
- Lower interest rates with best scheme from various Banks
What is a Top Up Loan?
Top-up is a provision that helps you adding a certain amount to avail for personal and professional needs like marriage, Child’s education and business expansion etc.
What is the benefit of top up loan?
- The interest rates of the top-up home loan are lower as compared to the rates of credit cards, personal loans or car loans.
- The tenure of the top-up loans is longer as compared to the tenure of other unsecured loans.