Benefits of Transferring Home Loan
Reducing your Home Loan EMI to a great extentReduce interest rate on your home loan, ongoing interest rates for home loan varies between 7.15 to 12.50 percent.
Option to increase or reduce your home loan tenure, if you increase the tenure EMI amount will reduce and if you reduce the balance tenure of the loan in that case EMI will increase (subject to income and age eligibility for loan applicants).
Many lenders are offering zero processing fees for home loan balance transfer facilities.
Option to avail Top- up on your home loan, top up amount can be as high as 5-6 crores depending on valuation of the property and your income eligibility.
Top-up amount raised with the Home loan BT can be used for multiple purposes including business expansion, house renovation, a marriage in family, medical emergency in family etc.
Option to convert your home loan into an overdraft facility.
Debt consolidation of your loans
