Personal Loan Balance
Transfer:
Save on Interest Costs
Shift your existing personal loan to a new lender offering lower rates, reduced EMIs, or better tenure. Ideal when your current ROI is high or service is poor—save interest and simplify repayments.
Why Switch Your PL
- Get a lower ROI & save on interest
- Cut monthly EMI or shorten tenure
- Option to add Top-Up while shifting
Good to Know
- Ensure ≥6 EMIs paid before transfer
- Compare ROI + fees for real savings
- Keep paying old EMIs till closure
Get a Personal Loan upto ₹25 Lakh in in 30 Minutes*
100% digital and secure process, 45% lower EMIs starting @ ₹1104/Lakh, Pay interest only on what you use with flexi loan.
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Rs. 250+ crore
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Support team 500+
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What is a Personal Loan Balance Transfer?
A Balance Transfer (BT) lets you shift your running personal loan to another bank/NBFC offering a lower interest rate, reduced EMI, and/or more flexible tenure. The new lender pays off your outstanding with the old lender, and you continue EMIs with the new one—often with sizable interest savings.
| Aspect | Before BT | After BT |
|---|---|---|
| Interest Rate | Higher, legacy pricing | Lower, re-priced to profile |
| EMI | Stretched cash flow | Reduced EMI or shorter tenure |
| Extras | Limited offers | Top-Up & better digital journey |
Benefits of a Balance Transfer
Interest Savings
Move to a lower ROI and cut total interest outgo.
Lower EMI
Ease monthly burden by re-pricing and/or extending tenure.
Flexible Tenure
Shorten to finish earlier or lengthen to suit cash flow.
Consolidation
Option to merge multiple PLs into a single EMI.
Top-Up Eligible
Get extra funds along with BT if your profile allows.
Better Service
Improved digital experience & transparent tracking.
How to Apply
Usually ≥ 6–12 EMIs paid, clean repayment track.
ROI, fees, tenure, prepayment rules, service quality.
Share KYC, income proof, and existing loan details.
New lender pays old lender; you e-sign agreement.
Set up NACH/auto-debit; collect old lender closure letter.
Eligibility Criteria
Age
21–60 years (some lenders allow up to 65 at loan maturity).
Income
Salaried: typically ₹25,000+/month (city/policy dependent).
Job Stability
Minimum 1 year in current job; 2–3 years experience preferred.
Credit Score
700+ preferred (some accept ~650+); 700–750 improves approval & lowers rate.
Residency
Indian citizen living in India with stable address history & valid KYC.
Repayment & FOIR
Clean EMI track (no recent bounces/DPD) and acceptable FOIR/DBR after re-pricing.
Documents Required
Basic KYC (Common)
- Identity: PAN (mandatory) + Aadhaar / Passport / DL / Voter ID
- Address: Aadhaar / Passport / utility bill / rent agreement
- Contact: Recent photo, active mobile & email
- Banking: Cancelled cheque / passbook for e-mandate
Salaried Employees
- Last 3 salary slips
- Salary account statement (6 months)
- Employment ID / HR letter (if asked)
- Form 16 / ITR (if required)
Self-Employed / CA
- Business Proof: GST / Udyam / Shop & Est. / CA membership
- ITR (2–3 yrs) + P&L + Balance Sheet
- Current/Business account statement (6–12 months)
- Office address proof
Doctors
- MCI/State Registration Certificate
- Clinic registration / hospital empanelment
- ITR / Form 16 (if salaried doctor)
- Bank statement (6–12 months)
Armed Forces
- Service/Force ID
- Posting/Unit letter (if required)
- Latest payslips
- Salary account statement
Optional (If Needed)
- Co-applicant documents
- Existing loan statements
- NOC / verification documents
- DPD/settlement proof if asked
Interest Rates & Charges (Indicative)
- BT Rate: ~10.49%–12.99% p.a. for strong profiles (varies by lender).
- Top-Up Rate: Usually near BT ROI; risk band dependent.
- Processing Fee: ~0.5%–2.0% of transferred amount + GST.
- Old Lender Foreclosure: ~0%–4% (refer original agreement).
- Stamping/NACH: Nominal, policy-based.
- Late Fees: Avoid by paying old EMIs till closure confirmation.
Frequently Asked Questions — Balance Transfer
Calculate Your EMI Instantly
A Multi-Purpose Loan EMI Calculator helps you estimate your monthly repayment amount before applying for a loan. Whether it’s for education, travel, wedding, home renovation, or business needs—know your EMI and plan smarter.
0 / month
Principal
Interest
Total Payable
Repayment Schedule
| Month-Year | EMI | Interest | Principal | Balance |
|---|
Compare the best Personal loan offers
starting at 9.99%
1%
₹ 1 cr
6 month to 5 year
13.99%
0-1%
₹ 15 lacs
1 to 5 years
Starting from 10.25% onwards
Starting from 0.5% upto 3.93%
upto 55 lakhs
Upto 8 Years
10.49%
0-1%
₹ 15 Lacs
1 to 5 years
18%
1% to 3%
₹25,00,000
1 to 6 year
10.99%
0-1%
₹ 35 lacs
upto 6 Years
NA
NA
NA
NA
10.75%
2.50%
₹ 40 Lakhs
1 to 5 years
18%
2%
5 Lakh
6 to 36 months
13% onwards
Up to 5% of the total loan amount + GST
Up to INR 30 Lakh*
12 to 60 months
13% onwards
0-4%
upto 25Lakhs
upto 60 months
10.25%
3
50 Lakhs
upto 7 years
NA
NA
NA
NA
13.0%
0-1%
₹ 15 lacs
0 to 3 years
10.50%
5.5%
₹ 35 lacs
1 to 5 year
12%
0-1%
₹ 10 Lacs
Upto 5 years
9.99%
0-3%
₹ 10 lacs
6 months to 3 years
18%
0-2%
₹ 3 Lacs
1 to 5 years
15.96%
2%
₹ 10 Lacs
1 to 5 years
12.75%
0-3%
₹ 1 lacs to 25 lacs
1 to 5 years
10.49%
0-2%
₹ 3 Lacs to 75 Lacs
1 to 50 years
10.99%
0-2%
₹ 30 Lacs
1 to 5 years
10.25%
0-1%
₹ 50 Lacs
1 to 6 years
18%
0-2%
₹ 20 lacs
1 to 5 years
10% - 35%
0-3%
upto ₹ 20 lacs
1 to 5 years
11.15%
0.50%
upto ₹ 75 lacs
1 to 6 years
11.35%
1.0%
upto 15 lacs
1 to 5 years
10.95%
0.50%
upto ₹ 10 lacs
0 to 7 years
11.49%
2.50%
₹ 50 lacs
1 to 5 years
10.99%
2%
₹ 40 lacs
1 to 5 years
10.99%
2%
₹ 50 Lacs
0 to 7 years
