2020-07-03T02:40:37
HOME LOAN BALANCE TRANSFER
Let's say, you take a home loan from a bank with a rate of interest at 14%. A few years later, you realise, you're paying a really high rate of interest. What do you do? You request your bank for a reduction, but there's no response. This is where a home loan balance transfer, comes in useful. In a balance transfer, your outstanding loan gets transferred to another bank or lending institution, for a better rate of interest. The principle is credited to your old bank and you pay off the home loan. You're now paying a new EMI amount, at a more competitive rate.
home loan flat loan , mortgage loan housing loan, loan against property , building construction loan , mortgage loan process
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