A presentation on the opportunities and ways of doing a balance transfer on your existing personal loan. It provides details on the scenarios in which you should contemplate a balance transfer and its benefits

1. PERSONAL LOAN BALANCE TRANSFER

2. WHAT IS A BALANCE TRANSFER
Balance transfer is a term used to transfer you
outstanding amount in a debt instrument such
as a credit card, personal loan, home loan, etc to
another account.

3. WHY A BALANCE TRANSFER
There are multiple reasons to this. So of which
are
 Better rates of interest
 An exciting offer on a Balance Transfer by a
Bank
 Need for Top up loan
 Service issues with a bank

4. BETTER INTEREST RATES
 Each Bank wants to acquire customer
 Focus is always to attract credit worthy customers
 If you have been servicing a loan successfully with
a Bank lets say HDFC, there is a probability that
another bank such as Kotak might want to attract
you with a better interest rates
 The interest rates is approximately 2% lesser than
the exiting loan interest rate but has a lower cap of
around 13.5%

5. EXCITING OFFERS
 There is always merit in clinching a good deal.
In this case a bank would love to take over your
personal loan a bank transfer as you have
proved credit worthy out there
 There would get exciting offers such a lower
interest rate, lesser processing fee, etc which
would be used to lure you to do the balance
transfer

6. TOP UP LOAN
 It is usually a little difficult to get a top-up loan
as it might exceed the fixed obligation limit
permissible by a bank. In this case you could
do a transfer of the balance amount and take a
top up from another bank.
 Top loan loans via a bank transfer would give
you a higher eligibility
 You also do get better interest rate in most
case post a top up

7. SERVICE ISSUES
 This could be a scenario when the banks are
not responsive to a customer’s needs
 There could be an issue of dissatisfaction as
what was committed would not be what is
delivered

8. WHO BENEFITS
Unlike a zero sum game, here most of them
benefit with a personal loan balance transfer
 You benefit as you get a top up or a better ROI or
service that you desire (might be at a small cost of
pre-closure charges)
 Your existing bank gets a small pre-closure charge
and also now can rotate the money with a new
customer hence earning more
 You new bank as they have acquired a csutomer
like you

9. WHAT NEXT?
Need to know more around this? Reach out for a
Personal loan Balance Transfer or call us on
+917795500177