Balance Transfer Interest rate starting from 7.10% p.a.* | Save up to ₹5 Lakhs | Zero hassle transfer Save upto ₹5 Lakhs

Interest Rate Drop

Up to 2% lower

Typical Savings

₹3L - ₹5L

Transfer Time

5-7 Days

Processing Fee

As low as 0.25%

What is Balance Transfer?

Loan Balance Transfer allows you to transfer your outstanding loan amount from your current lender to a new lender offering lower interest rates and better terms. You can transfer Home Loan, Loan Against Property, Business Loan, or any secured loan.

Why Transfer Your Loan?

  • Lower Interest Rate: Reduce your EMI burden significantly.
  • Save on Total Interest: Save lakhs over the loan tenure.
  • Better Loan Terms: Get flexible repayment options.
  • Top-up Facility: Get additional funds along with transfer.
  • Better Customer Service: Switch to a lender with better service.

Calculate Your Savings

You can save approximately

₹0

over the remaining loan tenure

Transfer Process

1
Apply Online
Fill quick application
2
Get Approval
New bank approves loan
3
Sign Documents
New loan agreement
4
Loan Disbursed
Old loan is paid off

Best Banks for Balance Transfer

SBI
8.25%*
Save up to 1.5%
HDFC Bank
8.35%*
Save up to 1.4%
ICICI Bank
8.40%*
Save up to 1.3%
Axis Bank
8.45%*
Save up to 1.2%
PNB
8.30%*
Save up to 1.6%
Bank of Baroda
8.35%*
Save up to 1.5%

Things to Consider

  • Processing Fee: New bank may charge 0.25% to 1% processing fee.
  • Legal & Valuation Charges: May apply for property re-evaluation.
  • Prepayment Penalty: Check if current bank has any charges (RBI says zero for floating rate).
  • CIBIL Score: Should be 700+ for best rates.
  • Documentation: Need NOC from current bank, loan statements, property papers.

Apply for Balance Transfer

Get best offers from top banks. Free consultation.

Your data is secure. Our expert will call you within 2 hours.

Frequently Asked Questions

Is balance transfer beneficial for me?
If you can get an interest rate lower by at least 0.5% to 1%, balance transfer is definitely beneficial. Use our savings calculator above to see how much you can save.
What is the cost of balance transfer?
Costs include processing fee (0.25% - 1%), legal & valuation charges (₹5,000 - ₹15,000), and CERSAI charges. However, the interest savings usually outweigh these costs.
How long does balance transfer take?
Typically 7-14 working days, depending on document submission, property verification, and NOC from your current bank.
Will my CIBIL score be affected?
Temporary slight dip may happen due to credit inquiry, but timely payments on the new loan will improve your score in the long run.
Can I get a top-up loan along with balance transfer?
Yes! Most banks offer top-up loan facility along with balance transfer, subject to LTV ratio and eligibility.