Tag: home loan balance transfer

home loan balance transfer

Should you Choose a Home Loan Balance Transfer to Maximise your Savings?

Home loan balance transfer refers to a facility through which the existing balance of a home loan can be transferred to another lender offering a lower interest rate. This can effectively reduce the overall monthly repayments and total payable interest. However, it is not so simple. There are several things to consider before the borrower chooses a loan transfer. This article aims to shed light … Continue reading Should you Choose a Home Loan Balance Transfer to Maximise your Savings?

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Home Loan

Ready to Settle? The Ultimate Guide to Taking a Home Loan

If you are planning to avail yourself of a home loan, here is a handy guide on things you should know and remember.  1. Most people do not know that home loans are a type of secured financing. The property one buys with the home loan availed of serves as collateral. In case of loan default, the lender can sell the pledged property and recover … Continue reading Ready to Settle? The Ultimate Guide to Taking a Home Loan

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home loan balance transfer

Points to Consider Before Transferring a Home Loan Balance

Home loan balance transfer refers to the process of transferring one’s home loan from one lender to another offering better loan terms and conditions, such as a lower interest rate, longer repayment tenor, better service, etc. You should go for home loan balance transfer as it is a useful facility, one must keep in mind certain things before opting for this facility. In this article, … Continue reading Points to Consider Before Transferring a Home Loan Balance

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Home Loan

Process and Benefits of Home Loan Balance Transfer

Lenders make money by charging interest on loans. Therefore, when a borrower closes their loan or chooses to transfer their loan to another lender, lenders lose money. Therefore, until a few years ago, borrowers could not transfer their loans to another lender. However, a few years ago, the Reserve Bank of India passed a mandate. Now, borrowers on floating rates of interest can prepay their … Continue reading Process and Benefits of Home Loan Balance Transfer

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