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Personal Loan Balance Transfer

Reduce the burden of your existing personal loan by opting for a Personal Loan Balance Transfer from IndusInd Bank. Our competitive interest rates will allow you to lower your EMIs. Hassle-free transfer with minimal documentation and low processing fees are some of the key features of our balance transfer personal loan.

You can also get additional top-up amounts to meet your current financial requirements. With flexible repayment tenure and swift pay-out, it is one of the smartest ways to reduce personal loan burden and improve your credit rating. Apply for a balance transfer from IndusInd Bank today.

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Article

Key Factors to be Considered While Opting for a Personal Loan Balance Transfer (PL-BT)

Transfer of a high interest rate personal loan from one bank to another is a common practice among customers today. Most borrowers opt for a Personal Loan Balance Transfer to take advantage of the prevailing low/competitive interest rates in the market.

Personal Loan Balance Transfer can be used as a beneficial option by customers in the scenarios as mentioned below:

Scenario1 - Current PL is running at high rate as compared to prevailing market rates.

In such a case, a shift from high interest rate loan to lower competitive rate would mean huge savings for the customer without taking any additional funds.

Scenario2 - Current PL is running at high rate as compared to prevailing market rates and there is a need for additional funds.

In such a case, a shift from high interest rate loan to lower competitive rate would mean huge savings for the customer plus additional funds in case of emergency.

Particulars Original BT @ 15%
Loan Amount 500000 500000
Interest Rate 18% 15%
Tenure (months) 60 60
EMI 12697 11895
 
Savings   48120

In the above quoted example, there is a clear saving of Rs. 48000 in case of a 5 lakh loan at competitive rates. In such a scenario, the customer can opt for taking a top-up over & above the balance transfer amount which can serve a dual purpose in terms of shifting high interest rate loan as well as getting additional funds.

Reviews

1. Easy Credit Transfers for Lower Debt Rates
IndusInd Bank’s personal loan balance transfer option let me move all my personal loans to one consolidated loan account. They provided me lower interest rates with an adjusted tenure for easy repayment. Also, the interest rates were on a monthly reducing basis which brought down the debt amount even further.
Reviewer: Manveer Sinha, Rajkot

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2. Quick Processing and Disbursement on Balance Transfer
Looking at my credit track record IndusInd Bank provided me phenomenal interest rate options on my loan transfer. The disbursement of the balance transfer personal loan amount to my previous bank was made without any delay. All my debt worries were gone in a matter of weeks.
Reviewer: Advaith Mishra, Nasik

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3. Fair Assessment and Pricing on Balance Transfer
My balance transfer of personal loan into IndusInd Bank helped me lower my interest rates considerably. I also secured a flexible tenure for repayment. Their verification was based on my overall bank track record and my CIBIL report which gave me an edge on my loan costing.
Reviewer: Arnav Bansal, Meerut

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4. Excellent Repayment Options on Balance Transfer!
I got better loan repayment options with an increased credit component in the form of a top-up loan on my balance transfer of existing personal loan from IndusInd Bank. I was able to repay my old loan in full within no time. Thanks to excellent payment alternatives provided by IndusInd!
Reviewer: Karan Patil, Mumbai

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5. I Transferred my Debts to IndusInd for Easy Loan Servicing
My debts were eating away at my monthly budget. Credit counsellors then suggested me with the personal loan balance transfer offer by IndusInd Bank. The bank helped me in effective credit management through considerate transfer options and rate. Loan repayment is the least of my worries now.
Reviewer: Ramesh Jani, New Delhi

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