What is a Balance Transfer?
Balance Transfer is a special feature offered by banks to reduce your Monthly Outgoing wherein you can transfer your existing Loan Outstanding from your bank to other bank in order to reduce your EMI. You can reduce the Interest payable in the entire tenure by doing a Balance Transfer and when you amortize the Interest component you will see it is beneficial.
Our, 3M Loans,tools guides you in comparing the savings between your existing Loan EMI and your new transferred Loan EMI. We help you to understand whether it is profitable to do a balance transfer or not.
Personal Loan Balance Transfer
Personal Loan Balance Transfer is beneficial and a good option to reduce your rate of interest on the remaining tenure or if you are taking a top-up with the balance transfer,than it become the most profitable Deal. 3M Loans Portal guides you as to which bank will be more better to go with and save money. There are a few Big Players in the market specifically giving very good deals for Balance Transfer like HDFC Bank, ICICI Bank, Citi Bank, Axis Bank, Kotak Bank, Indusind Bank, Bajaj Finserv etc.
Features and Benefits:
- Avail loans from Rs. 1 lakh to Rs. 40 lakhs
- Flexible Repayment Options – Loan tenures range from 12-60 months for salaried individuals
- 3M Loans Doorstep Service – Fix an appointment with any of our representatives on phone and get assistance in completing all the loan related formalities
- Gain quick approval on loans
- Minimal paperwork and hassle free processing. No security or collateral required
- Attractive interest rates
Best Rate for Personal Loan Balance Transfer is 11.99% to 13.75%.it varies from bank to bank and primarily depends on your Outstanding Loan Amount. Processing Fee is Rs. 999 irrespective of any amount. Top-up amount will be on the same rate of Balance Transfer (BT) rate.
We do not particularly insist you to save Money
We prefer you to Enjoy it
Home Loan & Loan Against Property Balance Transfer
Balance Transfer of Home Loan makes sense because Home Loan involves bigger volume and it makes a huge difference for longer tenure. By doing a Balance Transfer of your Home Loan you can reduce your EMI and Rate of Interest. We, 3M Loans, help you to save more money and also guide you as to how you can plan and close your Home Loan early.
- Take a Home Loan, to pay off existing Home Loan(s)
- Future payments will be made to the New Bank
- Transfer your existing Home Loan at interest rates that are lower than the original loan
- Top-up the existing loan to get ready cash for any of your needs
- The procedure of acquiring the loan is now easier and the amount payable for your instalments is designed to make you feel comfortable
- You are trying to reduce your Interest Rate and lower your payments
- You are trying to reduce your Home Loan Term to pay off your loan faster
- You want to use the equity in your house to get money for any of your needs
- You can take a top-up over the existing loan to get the much needed cash to fulfil your needs
- Your current loan track should be clear without late payments
- Your property value and condition support the parameter of new bank
- Age factor is also very important
- Loans can be applied by individuals, either solely or jointly. Owners of the current property, in respect of which the loan is being sought, will have to be co-applicants. However, the co-applicants need not be co-owners of the Property
It is never too early to Encourage Long-term Savings
Why apply for Balance Transfer on EMI?
- Start saving by switching from Higher EMI of the other bank to Lower EMI of the new bank
- EMI as Flexible Tenure
- Quick Disbursement
- Top-up amount also at Lower Rate with Balance Transfer
- Zero Processing Fee
Mode of Disbursement in the Balance Transfer
The loan amount will be disbursed through a Demand Draft (DD), drawn in favour of the other bank name and loan account number with your name. The DD that will be handed over to you so that you can go to the respective bank to foreclose the same.