Personal Loan Balance Transfer

Personal Loan Balance Transfer - Apply Online

Starting @ 9.99%* p.a.

Loan up to ₹30 Lakh | Attractive Interest Rates | Quick Approval | Easy to Apply

Transfer your existing loan to Poonawalla Fincorp with better terms and a lower interest rate. Save on EMIs and simplify your loan repayment with minimal documentation. Here’s your chance to improve financial management and save money. Apply now!

Opting for a Personal Loan balance transfer offers several benefits. Here are some key reasons to consider a balance transfer:

  • Lower Interest Rate: Balance transfer helps switch from high-interest rate to a lower interest rate.
  • Reduced EMI Burden: A lower interest rate helps reduce the monthly repayment amount.
  • Debt Consolidation: Consolidate multiple high-interest loans or credit card debts into a single loan for better loan management.
  • Better Loan Features: Transferring the loan offers access to additional features like top-up loans, flexible repayment options, and better customer service.
  • Improved Financial Management: Balance transfer allows for loan restructuring to align with financial goals and gain control over personal finances.
Personal Loan Interest Rates 9.99%* p.a. onwards
Loan Amount ₹1 Lakh to ₹30 Lakh
Loan Processing Fees Up to 2% plus applicable taxes
Lowest EMI Per Month* Starting from ₹2,124* per Lakh for 60 months
Loan Tenure 12-60 months
Pre-payment/Foreclosure Charges 0%* if paid from own sources & 4% If paid from other sources
Late Payment Charges 2% per month
Cheque Bounce Charges ₹500 per bounce plus applicable taxes
Stamp Duty At actuals (as per state)
No Other Hidden Charges

The eligibility criteria for a Personal Loan balance transfer are:

Norm Policy
Min Age 22 years
Max Age 57 years
Current Work Experience 1 month
Total Work Experience 1 year
Minimum salary INR 30,000
Minimum MOB served for BT Minimum 6 presentations
Credit Score 750 and above
  • Identity Proof: PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport
  • Address Proof: Utility bills and rental agreements
  • Income Proof: Salary slips, bank statements, or Income Tax Returns
  • Existing Loan Documents: Loan statements, repayment track record, and NOC (No Objection Certificate) from the current lender
  • Employment Proof: Employment letter, appointment letter, or business ownership documents

To apply for an instant Personal Loan balance transfer within 5 minutes with Poonawalla Fincorp, follow these steps:

  • Step 1: Click on the ‘Apply Now’ button.
  • Step 2: Fill in the required details on the loan application form.
  • Step 3: Upload necessary documents.

On successful verification, the loan amount will be transferred to your bank account.

Applying for an instant Personal Loan balance transfer with us is quick and convenient, allowing you to transfer your existing loan to benefit from better interest rates or repayment terms. Make sure to provide accurate information and submit all required documents for a smooth application process.

Can you transfer a Personal Loan balance?

Yes, Personal Loan balance can be transferred to Poonawalla Fincorp at a lower interest rate.

Is balance transfer of a loan a good idea?

Balance transfer of a loan can be a good idea if it allows you to secure a lower interest rate, reduce monthly payments, and consolidate multiple debts into a single loan.

What is the balance transfer fee?

The balance transfer fee is a one-time charge imposed by the new lender for processing the transfer of the loan balance. It is typically a percentage of the loan amount being transferred.

Does balance transfer hurt credit score?

Balance transfers can temporarily impact your credit score due to the inquiry and new account opening, but if managed responsibly, it can have a positive long-term effect on credit utilization and payment history.

*Terms & Conditions apply

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