Why transfer the balance?

Get relatively lower interest rates & Fees then your existing loan

Enjoy better services than the existing lender

Get a top-up or additional loan.

Moves from a non-banking financial company (NBFC) to a bank

What should you do?

Check the terms and conditions of the new lender carefully.

Ensure that the lower rate isn’t just a short-term promotional offer.

Read the terms and conditions properly.

Avoid teaser loans as the rates are low in the initial years and higher for the rest of the period.

Before switching, check if the existing lender will reduce rates.