A Home Loan Balance Transfer has various benefits which you must go for to make your existing Home Loan even more affordable. Want to know more? Read on!
Are you facing the brunt of availing a high-rate of interest based Home Loan and the poor customer services of your lender further making it a bad deal? If you are suffering because of this, it’s time to move on and opt for a Home Loan Balance Transfer.
A Home Loan Balance Transfer may not only help you lessen your rate of interest and avail better customer services but even avail a facility of the top-up loan.
Yes, a top-up loan facility is provided by leading lenders here you can further avail a loan of up to Rs.50 lakh.
You may switch your Home Loan from your current lender to a new one for below reasons and benefits. Have a look!
- You can keep a higher rate of interest at bay
If you see that your current lender is charging you a higher Home Loan interest rate, you can quickly avail a Home Loan Balance Transfer available with all leading online lenders. Be sure to do a quick third-party comparison of all offers and pick one as per your affordability.
- Say bye-bye to poor customer service
Some lenders are very poor when it comes to serving their customers. It may include not letting them manage their Home Loan account online. When you are unable to manage your loan account online, you are not better prepared to take care of your finances to make way for repayment plans and more. Thus, opt for a lender who offers you a superior customer service.
- Decline in financial status
Life is unpredictable, and your present financial situation may not be same all the time. Yes, you may lose your job, or your investment in equity funds may not work leading to losses. In such situations, it would become a headache to manage a higher-interest based Home Loan. Nothing to worry when you have the benefit of availing the Home Loan Balance Transfer and making the Home Loan affordable yet again.
- Incentives from new lenders
Who does not love incentives? If you see that a new lender is offering a variety of perks including a top-up loan, who would not like to make the most of the offers and stay benefitted? You should always stay alert and know who is offering what. Once you are aware of all offers, you can make the most of it and make the Home Loan even more affordable.
The Bottom Line
You just went through some of the major yet rewarding reasons or the benefits of a Home Loan Balance Transfer provision. Always remember that a Home Loan is a ‘once in a life’ thing that you avail and the loan tenor is longer and it affects your monthly outflows for a longer period.
It is always a wiser thing to take all efforts to make it affordable.
Why? Once you make it affordable and suiting as per your future financial planning, you will not only save an amount which you can use for other vital tasks and also sleep stress-free in your home!