Overview of Balance Transfer Loan in Rewari
Balance transfer loans in Rewari allow you to shift existing loans (home, personal, or others) to a new lender with lower interest rates or better terms. In 2025, lenders like HDFC Bank, SBI, and ICICI Bank offer balance transfer options starting at 8% per annum. Loanpao helps Rewari residents compare offers, check eligibility, and transfer loans seamlessly, reducing EMIs and saving on interest.
Eligibility Criteria for Balance Transfer Loan in Rewari
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Residency | Must be a resident of Rewari with valid address proof |
| Income | Minimum ₹20,000/month for salaried; ₹3 lakh/year for self-employed |
| Existing Loan | At least 6 months of EMI payments completed |
| Credit Score | 700 or above preferred |
| Loan Type | Home, personal, or mortgage loans eligible |
Documents Required for Balance Transfer Loan in Rewari
- Identity Proof: Aadhaar Card, PAN Card, or Voter ID.
- Address Proof: Utility bill, Aadhaar, or Rental Agreement (Rewari address).
- Income Proof: Salary slips (3 months), ITR, or bank statements (6 months).
- Existing Loan Details: Loan account statement, repayment schedule, and sanction letter.
- Photographs: 2 passport-sized photographs of the applicant.
Benefits of Balance Transfer Loan in Rewari
- Lower interest rates starting at 8% per annum in 2025.
- Reduced EMIs by extending tenure or lowering rates.
- Top-up loan options for additional funding.
- Quick processing within 3-5 days for verified applicants in Rewari.
- Potential savings on total interest over the loan term.
Factors Affecting Balance Transfer Loan in Rewari
Interest Rate
Rates range from 8% to 12%, based on credit score, loan type, and lender policies.
Outstanding Loan Amount
Minimum ₹1 lakh outstanding balance required for transfer.
Credit Score
Higher scores (700+) secure better rates and faster approvals in Rewari.
Loan Tenure
Remaining tenure impacts eligibility; longer tenures may offer more savings.
How to Apply for a Balance Transfer Loan in Rewari
Follow these steps to apply for a balance transfer loan in Rewari through Loanpao:
- Visit loanpao.in and select "Balance Transfer Loan in Rewari."
- Fill out the online application form with applicant details (name, Rewari address).
- Upload required documents (Aadhaar, income proof, existing loan statement).
- Compare offers from Rewari lenders like HDFC Bank, SBI, and ICICI Bank.
- Get approval and complete the transfer process within 3-5 days in Rewari.
Loan Eligibility for Balance Transfer Loan in Rewari
Check your eligibility for a balance transfer loan in Rewari with Loanpao’s eligibility tool:
- Enter applicant details (age, Rewari address, income).
- Specify existing loan details (type, outstanding balance, EMI history).
- Provide employment and credit score details.
Loanpao will instantly assess your eligibility and suggest the best balance transfer loan offers in Rewari.
Check Eligibility NowTrack Your Balance Transfer Loan Application in 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 your application status (e.g., under review, approved, transferred).
- Receive notifications for transfer completion in Rewari.
- Contact Loanpao support for assistance with delays in Rewari.
Balance Transfer Loan Comparison in Rewari
Compare balance transfer loan offers from top lenders in Rewari:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| HDFC Bank | 8% p.a. | ₹1 lakh to ₹50 lakh | 1 to 7 years | 0.5% of loan amount |
| SBI | 8.5% p.a. | ₹1 lakh to ₹75 lakh | 1 to 7 years | 0.75% of loan amount |
| ICICI Bank | 8.25% p.a. | ₹1 lakh to ₹60 lakh | 1 to 6 years | 0.5% of loan amount |
Frequently Asked Questions
A balance transfer loan allows you to move an existing loan to a new lender in Rewari with lower interest rates or better terms.
You can transfer home, personal, or mortgage loans, provided you’ve paid EMIs for at least 6 months.
Balance transfer loans in Rewari can be processed within 3-5 days after document verification.
A credit score of 700 or above is preferred, but some lenders may consider scores above 650 with higher rates.
The minimum outstanding loan amount for a balance transfer in Rewari is ₹1 lakh.
Yes, many lenders in Rewari offer top-up loans along with balance transfers, subject to eligibility.
Processing fees (0.5%-1%) may apply, but some lenders offer waivers for high-value transfers in Rewari.
Top lenders in Rewari include HDFC Bank, SBI, and ICICI Bank, offering competitive rates and quick processing.
Yes, Loanpao offers an online application process for balance transfer loans in Rewari, with quick approval.
A balance transfer may involve a hard inquiry, which could slightly impact your credit score, but timely repayments can improve it.