Overview of Balance Transfer Loan in Bawal, Rewari
Balance transfer loans in Bawal, Rewari enable borrowers to shift their existing high-interest loans, such as home, personal, or vehicle loans, to a lender offering lower rates. In 2025, balance transfer loans start at 6.50% p.a., helping reduce EMIs and total interest costs. Lenders like SBI, HDFC Bank, and ICICI Bank in Bawal, Rewari offer transfers for loans up to ₹75 lakh with tenures up to 20 years. Loanpao streamlines the process by comparing offers, checking eligibility, and facilitating online applications for approvals within 5–10 days.
Eligibility Criteria for Balance Transfer Loan in Bawal, Rewari
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Existing Loan | Minimum 6 months of EMI payments completed |
| Income | ₹25,000/month (salaried) or ₹3 lakh/year (self-employed) |
| Residence | Valid Bawal, Rewari address proof |
| Credit Score | 750+ preferred for lower rates |
Documents Required for Balance Transfer Loan in Bawal, Rewari
- Identity Proof: Aadhaar, PAN Card, Passport, or Voter ID.
- Address Proof: Utility bill, Aadhaar, or rental agreement (Bawal, Rewari address).
- Income Proof: Salary slips (3 months), ITR (2 years), or bank statements.
- Existing Loan Documents: Loan statement, repayment schedule, and sanction letter.
- Property Documents (if applicable): Sale deed, NOC from builder (for home loans).
- Photograph: Recent passport-size photograph.
Benefits of Balance Transfer Loan in Bawal, Rewari
- Lower interest rates starting at 6.50% p.a. in 2025, reducing EMIs.
- Loan amounts up to ₹75 lakh for home, personal, or vehicle loan transfers.
- Extended repayment tenures up to 20 years for affordability.
- Top-up loan options for additional funds during transfer.
- Fast processing with approvals in 5–10 days in Bawal, Rewari.
Factors Affecting Balance Transfer Loan in Bawal, Rewari
Interest Rate
Rates range from 6.50% to 10% p.a., based on credit score, loan type, and lender policies.
Outstanding Loan Amount
The remaining balance (up to ₹75 lakh) determines eligibility and transfer benefits.
Credit Score
A score of 750+ secures better rates; lower scores may limit savings.
Processing Fees
Fees (0.5%–1% of loan amount) impact overall cost savings in Bawal, Rewari.
How to Apply for a Balance Transfer Loan in Bawal, Rewari
Follow these steps to apply for a balance transfer loan in Bawal, Rewari through Loanpao:
- Visit loanpao.in and select "Balance Transfer Loan in Bawal, Rewari."
- Fill out the online application form with details (name, Bawal, Rewari address, existing loan details).
- Upload required documents (Aadhaar, income proof, loan statement).
- Compare offers from top Bawal, Rewari lenders like SBI, HDFC, and ICICI Bank.
- Get approval and complete the transfer within 5–10 days.
Loan Eligibility for Balance Transfer Loan in Bawal, Rewari
Check your eligibility for a balance transfer loan in Bawal, Rewari with Loanpao’s tool:
- Enter your age (21–65 years).
- Provide income details (₹25,000/month salaried or ₹3 lakh/year self-employed).
- Include existing loan details (type, outstanding balance, EMI history).
- Specify Bawal, Rewari residence for localized offers.
Loanpao will assess your eligibility and suggest the best balance transfer loan offers in Bawal, Rewari.
Check Eligibility NowTrack Your Balance Transfer Loan Application in Bawal, Rewari
Loanpao provides a seamless tracker for your balance transfer loan application:
- Submit your application ID on the Loanpao Tracker page.
- Get real-time updates on status (e.g., under review, approved, transferred).
- Receive notifications for transfer completion in Bawal, Rewari.
- Contact Loanpao support for assistance with delays in Bawal, Rewari.
Balance Transfer Loan Comparison in Bawal, Rewari
Compare balance transfer loan offers from top lenders in Bawal, Rewari:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| SBI | 6.50% p.a. | Up to ₹75 lakh | Up to 20 years | 0.5% of loan amount |
| HDFC Bank | 6.75% p.a. | Up to ₹50 lakh | Up to 15 years | 0.75% of loan amount |
| ICICI Bank | 7.00% p.a. | Up to ₹40 lakh | Up to 12 years | 1% of loan amount |
Frequently Asked Questions
Home loans, personal loans, and vehicle loans can be transferred in Bawal, Rewari, subject to lender approval.
Balance transfer loans in Bawal, Rewari are processed within 5–10 days after approval.
The maximum loan amount is up to ₹75 lakh, depending on the outstanding balance and lender policies.
A credit score of 750+ is preferred for lower rates, but transfers may be possible with lower scores at higher rates.
Missing an EMI may incur late fees and impact your credit score, potentially affecting future loan approvals.
Yes, many lenders in Bawal, Rewari offer top-up loans during balance transfers, subject to eligibility.