If you already have a loan, you may want to review whether another eligible lender can offer more suitable terms.
A loan balance transfer involves moving an eligible outstanding loan from one lender to another under an approved arrangement.
Naitri Associates LLP can help you understand the general process and the factors to compare when exploring available options.
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A balance transfer generally involves a new lender repaying an eligible outstanding loan with the existing lender, after which the borrower continues repayments under the new agreement.
Availability depends on the product, outstanding balance, applicant profile, remaining tenure, and lender policies.
A lower advertised interest rate does not automatically mean that a transfer will save money.
Calculate how much you could save by switching your loan to a competitive interest rate.
Compare the full cost, not just the advertised rate.
Discuss a Balance Transfer