Balance Transfer Loan
Reduce Your EMI, Save More
Switch Your Loan. Lower Your Burden.
Paying a high EMI or interest rate on your existing loan? You don’t have to stay stuck.
With a Balance Transfer Loan from MyFinanceBazaar, you can shift your existing loan to a better lender offering lower interest rates, reduced EMIs, and improved terms. We partner with 50+ banks and NBFCs to help you find the most cost-effective option, quickly and hassle-free.
What is a Balance Transfer Loan?
A balance transfer allows you to transfer your existing loan from your current bank to another lender offering better interest rates, lower EMIs, and improved repayment terms.
In simple words: You transfer your existing loan to a new lender to enjoy lower interest rates, reduced EMI burden, and better financial flexibility.
Loans eligible for transfer:
-
•
Home Loans
Salaried & Self-Employed -
•
Loans Against Property (LAP)
Commercial & Residential Properties
Why Choose Balance Transfer with MyFinanceBazaar?
Trusted Lender Network
Access to 50+ trusted banks & NBFCs with competitive balance transfer offers.
Lower Interest Rates
Lower interest rates starting from competitive market levels to reduce your EMI burden.
Flexible Repayment Options
Flexible options available to reduce your EMI amount or shorten your overall loan tenure.
Fast Processing
Fast approvals with minimal documentation for a smooth and hassle-free transition process.
End-to-End Assistance
Complete support from document pickup and lender coordination to final disbursal.
Dedicated Advisor Support
Dedicated loan advisor support throughout your balance transfer journey from start to finish.
We don’t just show options. We help you choose the right one.
Key Benefits of Balance Transfer
Lower Interest Rates
Switch to a lender offering better rates and reduce your overall loan cost.
Reduced EMI
Free up your monthly cash flow with lower EMIs.
Top-Up Loan Option
Need extra funds? Get an additional loan amount on top of your existing balance transfer.
Flexible Tenure
Choose a customized repayment tenure that perfectly fits your financial goals.
Better Service & Features
Upgrade to a lender offering a better digital experience and customer support.
Who Should Switch?
- Paying higher interest rates than current market offers
- Monthly EMI feels financially heavy
- Looking to reduce loan tenure
- Need additional top-up funding
- Unsatisfied with current lender services
Eligible Loan Types
-
Home Loans
Salaried & Self-Employed -
Loan Against Property (LAP)
Commercial & Residential Properties
Eligibility Criteria
- Work: Salaried / Self-Employed
- History: No major repayment defaults
- Income: Stable monthly salary or business income
- Track Record: Minimum 12 months of clean, uninterrupted repayment history required for low-income documentation pathways.
Documents Needed
- Identity & Address Proof
-
Income Proof (Salary Slips / ITR)
For Track-Based Applicants: Clean repayment statements may replace traditional salary or ITR requirements.
- Bank Statements (6–12 Months)
- Existing Loan Statements
- Property Papers (For Secured Loans)
How It Works?
We have simplified the process into 5 simple steps for your convenience.
Share Your Details
Fill a simple form or connect with our advisor.
Compare Offers
We fetch and compare the best offers from multiple lenders.
Choose the Best Deal
Select the loan that saves you the most.
Smooth Transfer Process
We handle documentation, coordination, and approval.
Loan Disbursal
Your old loan gets closed, and your new loan starts at better terms.
Frequently Asked
Questions
Frequently Asked Questions About Balance Transfers.
1. Will my credit score be affected? ▼
2. Is there any cost involved? ▼
3. Can I get extra funds with balance transfer? ▼
4. How long does the process take? ▼
Ready to Save on Your Loan?
Don’t overpay on your existing loan.
- 👉 Check Your Balance Transfer Eligibility Now
- 👉 Compare Best Offers from 50+ Banks
- 👉 Switch & Start Saving Today
Quick & Secure Process