If your existing home loan rate is above 7.5%, a balance transfer to a new lender could lower your EMI or shorten your tenure — often with a top-up on the same application.
Move from an older, higher-rate loan to a current market rate — often a 0.5–1.5% difference over the remaining tenure.
Keep your EMI roughly where it is, but cut years off your repayment schedule.
Most balance transfers can include an additional top-up loan, disbursed alongside the transfer.
Under RBI rules, floating-rate home loans carry no prepayment or foreclosure penalty when transferred to another lender. Fixed-rate loans may have charges — we'll flag this during your eligibility check.
Typically 2–3 weeks end to end, covering new lender approval, document transfer from your current bank, and final disbursal to close the old loan.
A balance transfer involves a fresh credit check by the new lender, similar to a new loan application, but responsibly closing the old loan on time is generally a positive signal on your credit history.
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