Balance Transfer

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35+

Man Years of experience

Happy clients

Features and Benefits of Our Balance Transfer Facility:

• Lower Interest Rates: Transfer your existing loan for lower interest rates, potentially reducing your monthly payments.

• Consolidation of Debt: Combine multiple loans into one, simplifying your finances and reducing administrative hassle.

• Flexible Repayment Options: Choose from various repayment tenures to suit your financial capabilities.

• Quick Processing: Swift approval and disbursement to ensure seamless transfer of your loan.

• Top-up Loan Option: Additional funding available over and above the transferred amount for your financial needs.

• Improved Cash Flow: Potential savings on interest can free up cash flow for other business or personal expenses.

• Dedicated Customer Support: Receive personalized assistance throughout the transfer process and beyond.

Balance Transfer Loan Eligibility Criteria:

• Existing Loan Type: Home loan, personal loan, car loan, or any other eligible loan from a recognized financial institution.

• Regular Repayment History: A track record of timely payments on the existing loan.

• Creditworthiness: A good credit score indicating financial discipline and repayment capacity.

• Employment/Business Stability: Stable employment or business continuity as per lender's requirements.

• Loan Amount: Minimum and maximum transferable amounts specified by the lender.

Documents Required to Apply for Balance Transfer in India:

• Identity Proof: Aadhaar Card/ Passport/ Voter ID Card/ Driving License

• Address Proof: Aadhaar Card/ Passport/ Voter ID Card/ Utility Bills (Electricity, Water, Gas)/ Driving License

• Loan Account Statement: Last 6 months' statement from the current lender showing repayment history.

• Sanction Letter: Copy of the sanction letter from the existing lender detailing the terms of the current loan.

• Repayment Track Record: Statement of the last 12 EMIs paid or repayment schedule from the current lender.

• Income Proof: Salary slips for salaried individuals or Income Tax Returns (ITR) and audited financial statements for self-employed individuals.

• Others: Passport-size photographs, duly filled balance transfer application form, processing fee cheque.

It's essential to verify specific document requirements with the lender as they may vary based on individual circumstances and loan policies.

Features and Eligibility Requirements

Transfer your outstanding loan amount from one lender to another, at a lower rate of interest. Calculate your new EMI for different interest rates, loan amounts and tenures, using Andromeda’s Balance Transfer Calculator.