Do you have a loan against property and wish to transfer it to a new lender? For this, loan against property balance transfer is a unique feature that helps a loan borrower to easily switch between the lenders. This service is required for better service with lower interest rate and terms and conditions. In order to avail this facility, it is needed to fill the loan transfer form available online from various NBFC and banks. This facility also helps borrowers to easily repay the loan with lower EMIs and save a lot of money on interest.
In general, loan balance transfer helps to reduce the overall EMI due to the reduced interest rate. Here are several benefits when you transfer the balance of the existing loan to a new lender that includes:
Offers lower interest rate: With a balance transfer, you enjoy a low-interest rate and save a lot of money.
Easy application with minimum documents: Loan balance transfer requires minimum documents with hassle-free application.
Pre-payment facilities: This loan balance transfer facility does not block chance to make pre-payments. An individual can easily make pre-payments.
Protect credit score: No CIBIL score is used to transfer the balance of the existing loan. This facility does not affect the credit score of the borrower.
Easy top-up facility: Financial companies always provide top-up facilities when the loan balance is transferred to a new lender.
Bajaj Finserv has emerged as the best NBFC to get the loan against the property balance transfer facility along with other loan types. You get the best deal to complete loan formalities and can easily check the pre-approved loan offers.