LOAN BALANCE TRANSFER FAQs
Ans. Any borrower who has an existing personal loan on which he/she has paid at least 12 EMIs regularly is eligible to transfer the outstanding balance to another lender, provided that they meet the lender’s eligibility criteria.
Ans. In case your lender is charging a higher rate of interest on your personal loan as compared to other lenders in the market, you can consider the option of opting for a balance transfer of your personal loan to another lender. A personal loan balance transfer can also be opted to avail better terms on your personal loan such as top-up facility, longer repayment tenure, etc.
Ans. The repayment tenure can range between 12 to 60 months.