OneTouch Move your loan, improve your terms.
A Balance Transfer moves the outstanding balance of an existing loan to another lender. The usual reason is pricing, but tenure, servicing and the flexibility of the structure matter just as much. We work out whether a transfer is genuinely worth it once every cost is counted.
What this facility gives you.
Re-price an existing loan
Where your profile or the market has improved since the original sanction, a transfer can reset the terms.
Costed honestly
Foreclosure charges, processing fees and legal costs are set against the saving before we recommend anything.
Restructure the tenure
A transfer is also an opportunity to re-cut the tenure so the EMI fits your current cash flow.
Who it suits
- Borrowers whose credit profile has improved since the original sanction
- Loans running at a rate well above what the profile now commands
- Borrowers wanting a longer tenure and a lighter monthly outflow
- Anyone unhappy with servicing on an otherwise healthy loan
Documents usually required
- KYC of all applicants
- Sanction letter and repayment schedule of the existing loan
- Loan account statement and list of documents held by the current lender
- Foreclosure or outstanding balance letter from the existing lender
- Income proof, bank statements and property papers where the loan is secured
The final checklist depends on the lender, your constitution type and the facility structure.
How Balance Transfer is typically structured.
Indicative only. Every lender applies its own policy, and your sanctioned terms come from the lender assessing your case.
| Applies to | Business Loan, Loan Against Property and other eligible loans |
|---|---|
| Key requirement | A clean repayment track on the existing loan |
| Costs to consider | Foreclosure charges, processing fee, legal and valuation costs |
| Indicative tenure | Fresh tenure as sanctioned by the new lender |
| Assessment basis | Existing loan conduct, current income and security |
Frequently asked.
When is a Balance Transfer actually worth it?
When the total saving over the remaining tenure comfortably exceeds the cost of moving. On a loan with only a short period left, it often does not – and we will say so.
Does a Balance Transfer need a clean track record?
Effectively, yes. The new lender examines how the existing loan has been serviced, and recent delays are the most common reason a transfer is declined.
How long does a transfer take?
It depends on how quickly the existing lender issues the foreclosure letter and releases documents, alongside the new lender's own processing. We coordinate both sides.
Other loan solutions.
Business Loan
A Business Loan helps you fund expansion, inventory, equipment, hiring or any other legitimate business requirement.
Learn more →Loan Against Property
A Loan Against Property lets you raise funds against a residential, commercial or industrial property you already own, while continuing to use it.
Learn more →Overdraft
An Overdraft gives your business a sanctioned limit it can draw from as needed.
Learn more →Considering Balance Transfer?
Share a few details and our team will assess your profile and come back with the options it supports.