About Balance Transfer Loans
Loanpao’s Balance Transfer Loans in Delhi, India, allow you to transfer your existing loans (Home, Personal, etc.) to us for lower interest rates, reduced EMIs, and extended tenures, helping you save more.
Why Choose Our Balance Transfer Loan?
- Interest Rates starting at 7.5% p.a.
- Transfer Loan Amount from ₹1 Lakh to ₹5 Crore
- Extended Tenure up to 30 Years (for Home Loans)
- Processing within 3-5 business days
- Minimal documentation
- Top-up loan option available
- Save up to 2% p.a. on interest
- No hidden charges
Are You Eligible?
| Criteria | Requirement |
|---|---|
| Existing Loan | At least 12 EMIs paid on current loan |
| Loan Type | Home Loan, Personal Loan, or Loan Against Property |
| Credit Score | 700+ preferred |
| Repayment History | No defaults in the last 12 months |
What Documents Do You Need?
- KYC: Aadhaar / PAN / Voter ID
- Existing Loan Details: Loan statement, sanction letter
- Income Proof: Salary slips / ITR for 2 years
- Bank Statements: Latest 6 months
Attractive Interest Rates & Affordable Fees
| Loan Type/Bank | Interest Rate | Processing Fee |
|---|---|---|
| Home Loan (SBI) | 7.5% p.a. | 0.25% or ₹10,000 |
| Home Loan (HDFC Bank) | 7.75% p.a. | 0.3% or ₹12,000 |
| Home Loan (ICICI Bank) | 8.0% p.a. | 0.3% or ₹12,000 |
| Home Loan (Axis Bank) | 8.25% p.a. | 0.25% or ₹10,000 |
| Personal Loan (Kotak Mahindra) | 9.5% p.a. | 0.5% or ₹5,000 |
| Personal Loan (Bank of Baroda) | 9.75% p.a. | 0.5% or ₹5,000 |
| Personal Loan (Union Bank) | 10.0% p.a. | 0.5% or ₹5,000 |
| Personal Loan (PNB) | 9.5% p.a. | 0.5% or ₹5,000 |
| LAP (IDFC FIRST) | 8.5% p.a. | 0.3% or ₹15,000 |
| LAP (Yes Bank) | 8.75% p.a. | 0.3% or ₹15,000 |
| NBFCs | 9.0% p.a. | 0.5% or ₹20,000 |
| Co-operative Banks | 8.0% p.a. | 0.25% or ₹10,000 |
Extra Charges:
- Foreclosure Charges: Nil (after 6 months)
- Legal/Valuation Fee: ₹5,000 (for Home Loan/LAP)
- GST: Applicable on processing fees
Note: Rates and fees are indicative as of April 2025 and subject to change.
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How to Apply for a Balance Transfer Loan
- Complete the online application with existing loan details.
- Submit KYC, income proof, and loan statements.
- Undergo verification of documents and credit history.
- Receive approval and new loan offer.
- Complete foreclosure formalities with the existing lender.
- Transfer the loan balance within 3-5 business days.
Common Questions About Balance Transfer Loans
What is a Balance Transfer Loan?
It allows you to transfer your existing loan to a new lender for better rates and terms.
Who can apply for a Balance Transfer Loan?
What loans can be transferred?
Home Loans, Personal Loans, and Loans Against Property.
How long does the process take?
The transfer is completed within 3-5 business days after approval.
Are there foreclosure charges?
No charges after 6 months; check with your existing lender for earlier foreclosure.
Can I get a top-up loan?
Yes, a top-up loan is available based on eligibility.
What is the maximum tenure?
Up to 30 years for Home Loans, and 15 years for Personal Loans.
Are there any hidden fees?
No, all fees are transparent—processing, legal, and valuation fees apply.
What documents are needed?
KYC, income proof, bank statements, and existing loan statements.
How much can I save?
You can save up to 2% p.a. on interest, depending on the rate difference.