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Factors to keep in mind while choosing a Personal loan Balance Transfer


Repaying loans, in general, is very tedious. Especially when it is a high-interest Personal Loan, managing the financial burden is a tough period. However, you don’t need to fear as Balance Transfer is always an option.

What exactly is a Loan transfer?

A personal loan transfer refers to shifting to a more profitable offer on personal loans from your current bank.

With this facility, you can reap the benefits of a bank product of your choice, with lower interest rates and less EMI Burden. Make sure you are aware of the few things you need to take note of while choosing a transfer.

Here are a few!


Lower the EMI, the better your life is! Paying EMIs is very crucial. However, it also contributes to the financial burden on your monthly expenses. Some Banks sanction a lower EMI than the others. What we should keep in mind is tenure, as an extended tenure might lead to overall higher payment and some extended money.


Once you have decided on the product, you must read the words carefully. Ensure you’ve read every term and condition before completing the transfer process to identify any hidden clauses that could financially affect your future. Just in case you are stuck or confused, it is better to handle every aspect with the legal experts.

Processing fee

When you opt for a personal loan balance transfer, you charged a particular fee. However, this amount varies from lender to lender. You need to pick one that saves you some money, an additional cost that does not result in a loss.

Additional offer

When you opt for a personal loan balance transfer, home lenders provide you with several discounts in good faith. These additional offers act as an attraction to customers, but you must ensure that you don’t fall prey to this Sales bait. Analyze if the discounts are worth it and make sure you do not take your final decision on the types or amount of discount.


That depends solely on your personal choice. While picking an offer, you must carefully look at the tenor of the loan. Higher EMIs over a shorter period is the best choice. However, this depends on your financial situation. In case you do not find it feasible, you can opt for a more extended period as long as it is convenient for you.

This personal loan transfer can be beneficial, but only if you decide right. Make sure you take note of all the points above and see that whichever offer you pick must be profitable to you.

Avail for a loan right away and make the most of it fulfill all your financial requirements.

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