In order to encourage more people to invest in houses, there are many tax deductions one can... Read more
18 Nov 20215 min read
11.00%* p.a
The eligibility criteria mainly depends on your employment. Choose the employment type and check your eligibility.
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The process for transferring balance is simple:
You can switch your home loan to another lender even if it has been partially disbursed. You will be able to transform your partially disbursed into a fully disbursed loan. You can also change your pre-EMI into an EMI.
You are also paying a substantial interest rate because, allegedly, it is determined by the standard rate rather than the MCLR or the Marginal Cost of Funds Rate. This must be transformed into an MCLR rate. It is best to switch to the new institution with the entire loan balance if they offer a lower MCLR than the existing bank does since it has a reduced interest rate.
Struggling to manage your existing EMI payments? Many people face a new challenge every month to make timely EMI payments, which affects their peace of mind and happiness levels. A balance transfer from your existing home loan to one with Piramal Finance can ensure that you remain creditworthy throughout the tenure of your home loan. It can provide peace of mind by helping you navigate through challenging times at a more comfortable pace.
We, at Piramal Finance, always advise our customers in Bharat to consider the balance transfer fees and processing charges while refinancing their home loans. If you find the interest rate of the other bank, along with the extra charges, to be less and cheaper than your existing loan, it’s your go-to signal to refinance the loan.
You will have to bear a processing fee, a part-payment/ pre-closure charge, and other fees for transferring your home loan to Piramal Finance. You can obtain details about all the charges by clicking here.
I have taken a Piramal Finance loan for my business expansion. The sales team at the Piramal Finance Branch attended to me with a very professional attitude. They answered all my queries and cleared my doubts. Thank you for understanding my needs.
Rajendra Rupchand Rajput