Home Loan Balance Transfer: Save Money on Interest

What is Balance Transfer?

Transfer your outstanding home loan to another bank offering lower interest rate.

When to Consider Transfer?

• New bank offers rate 0.50-1% lower than current
• Remaining tenure is more than 5 years
• Your credit score improved significantly

Costs Involved

• Processing fee: 0.5% to 1% of transferred amount
• Legal & technical charges: ₹10,000-20,000
• Foreclosure charges: May be nil for floating rate