Lower Rate Potential
A better credit profile today than when you first borrowed can translate into a lower rate now.
Loan Balance Transfer
Same Loan, Better Terms Elsewhere
If you're repaying a loan at a rate that feels high, moving the outstanding balance to a new lender can lower your EMI or shorten your tenure—without changing what you've already repaid.
Up to ₹40LOutstanding balance transferable
Rate comparisonAcross our lender network
One switchOld loan closed, new one begins
Before you apply
-
Currently repaying a loan with mostly on-time history
-
Your current rate feels higher than the market
-
Have your latest loan statement handy
Why it works
The Loan Stays the Same, the Terms Don't Have To
You've already proven you can repay it. A transfer uses that track record to negotiate better terms elsewhere.
One Cleaner EMI
Move to a single, clearer repayment schedule instead of juggling the old one's confusing terms.
Nothing You've Repaid Changes
Only the outstanding balance moves—what you've already paid off stays exactly as it was.
What a transfer can include
More Than Just a Lower Rate
A transfer is often a chance to restructure more than the interest rate alone.
Rate Reduction Transfer
The core reason most people transfer—move to a lender offering a meaningfully lower rate.
Tenure Adjustment
Stretch your tenure to lower the EMI, or shorten it to close the loan faster.
Top-Up on Transfer
Borrow a little extra alongside the transfer, if your profile supports it.
Consolidation Alongside the Transfer
Fold in other smaller dues so you're managing one loan instead of several.
Fee-Aware Switching
We factor in foreclosure and processing fees so the switch is worth it on paper, not just on rate.
Prepayment Alignment
Time the switch around your existing loan's prepayment or lock-in terms where possible.
Eligibility
Where Do You Stand?
General guidelines lenders weigh for a transfer. Actual criteria differ by lender and are confirmed during assessment.
Who typically qualifies
-
Repayment historyA largely on-time record on your existing loan, usually over the last 6–12 months.
-
Remaining tenureEnough time left on the loan for a transfer to be worth the switching cost.
-
Outstanding amountA minimum balance that most lenders find worth taking on.
-
IncomeA steady income that still supports the loan going forward.
What strengthens your case
-
Improved credit scoreA better score today than when you first borrowed helps you negotiate.
-
Lower existing obligationsFewer other running EMIs improve your approval odds.
-
Clean loan statementNo missed EMIs or restructuring on the current loan.
-
Complete KYCPAN, Aadhaar and address proof kept current.
Documents
What You'll Need to Switch
Pick the category closest to yours. Requirements can still shift slightly by lender.
- PAN card and Aadhaar, or another valid ID
- Latest 2–3 months' salary slips
- Salary account statement for the last 6 months
- A recent passport-size photograph
- PAN card and Aadhaar, or another valid ID
- Business registration or proof of practice
- Income tax returns for the last 2 years
- Bank statements for the last 6–12 months
- Latest loan account statement
- Loan sanction letter from your current lender
- Foreclosure or outstanding-balance letter
- No-objection certificate (NOC), once available
How to apply
From Your Current Lender to a Better One
Share your existing loan details
Tell us the outstanding amount, current rate and remaining tenure.
Compare what's on offer
We check whether a transfer genuinely improves your position, fees included.
Get your foreclosure letter
Request the outstanding-balance and NOC documents from your current lender.
New lender settles the old loan
The new lender pays off your existing balance directly.
Continue on the new terms
Your repayment continues with the new lender, on the revised rate and tenure.
Plan the switch
See What a Transferred EMI Might Look Like.
Move the sliders to get an illustrative EMI on your outstanding balance at a new rate and tenure.
Example only—not an offer or approval.
₹1L₹40L
12 months60 months
10.5%20%
Estimated new monthly payment₹
16,500at an illustrative 11.5% p.a.
Apply Now
FAQs
Transfer Questions, Answered
A new loan enquiry can cause a small, temporary dip, but closing the old
loan cleanly and continuing on-time repayment on the new one generally supports your score over
time.
Some lenders apply a foreclosure charge on the outstanding amount. We
factor this into whether a transfer is actually worth it before you commit.
Usually, yes, though it's often smaller than a fresh loan's fee. It's
disclosed clearly before you accept the new offer.
It depends on how quickly your current lender issues the foreclosure
letter and NOC. Once that's in hand, the new lender can move fairly quickly.
Yes, that's when most transfers happen. Very early or very late in the
tenure, the switching cost may not be worth the savings.
No. It depends on the rate you're offered versus your current one, and
on fees involved. We only recommend a transfer when the numbers genuinely work in your favour.