Securing Hannav Ledger...
Securing Hannav Ledger...
Glossary
A loan balance transfer moves an outstanding loan from one lender to another, usually to secure a lower interest rate or better terms.
Shifting your existing loan to a new bank that offers a lower interest rate.
Involves a new sanction, foreclosure of the old loan, and transfer/re-registration of collateral; worthwhile only if the rate cut and remaining tenure justify processing costs.
Transferring a ₹30 lakh home loan from 9.2% to 8.4% can save several lakh in interest over the remaining tenure.
Shifting your existing loan to a new bank that offers a lower interest rate.
Balance Transfer (Loan) helps you evaluate products, compare options, and make informed decisions aligned with goals, tax rules, and risk tolerance in the Indian financial system.