Home Loan Balance Transfer: Know the Process and Its Benefits
Today, the financial institutions in India offer a variety of innovative and customised services to their home loan customers. One such service is the home loan balance transfer. Read on to know more about it.
Home loan balance transfer is a facility offered by the lending organisations that allows the borrowers to transfer their home loan from one lender to the other. If you have an outstanding home loan with a specific borrower and you are not happy with the quality of their services or if you feel that they are charging a higher interest as compared to other, you need not be stuck with the same lender throughout the loan tenure. Instead, you can opt for a home loan balance transfer, which is also known as refinancing.
This arrangement helps you avoid paying a higher interest as li...