A personal loan balance transfer is a facility that allows you to transfer your existing loan from one lender to another that offers better terms. Most borrowers choose a personal loan balance transfer to reduce interest costs, lower EMIs or access additional features such as top-up funding. <\/p>\n\n\n\n
Understanding how it works can help you make a more cost-effective borrowing decision. <\/p>\n\n\n\n
A personal loan balance transfer moves your existing loan to a new lender offering a lower interest rate. The new lender clears your old loan and you repay them at better terms, saving the most when done early in the loan tenure. <\/p>\n\n\n\n