A Home Loan Balance Transfer is when you shift your existing home loan from one bank/lender to another offering better interest rates, lower EMIs, or improved services.
Think of it like refinancing your home loan to save lakhs of rupees in the long run.
Why Consider a Balance Transfer?
💸 Lower Interest Rate – Reduce from 10% to 8.5%, for example
📉 Lower EMIs – Pay less every month
🏠 Top-Up Loan Option – Get extra funds for renovation or other needs
⏳ Longer Tenure – Reduce repayment burden
📱 Better Service – Faster processing & support (like with Vizzve!)
When Should You Opt for It?
✅ You still have 5+ years of loan tenure left
✅ Interest rates have dropped since you took the loan
✅ You're unhappy with your current lender's service
✅ You want to consolidate debts with a top-up loan
Eligibility Criteria for Balance Transfer
An existing home loan with regular EMI payments
Minimum 12 EMIs paid (track record of 6–12 months)
CIBIL score of 700 or above
Age: 21 to 60 years
Income proof & property documents
Documents Required
Existing home loan statement
Sanction letter from current lender
ID & Address proof (PAN, Aadhaar)
Salary slips or ITR (last 6 months)
Bank statements (last 6 months)
Property papers (sale deed, NOC, title clearance)
Why Transfer Your Loan to Vizzve?
🔽 Interest Rates as low as 8.35%
🚀 Fast processing & zero hidden charges
💰 Top-up loans available for extra cash needs
📲 100% online processing with human support
💬 Free eligibility check & document assistance
🧾 Personalized repayment plans to suit your budget
Vizzve Tip
You can negotiate a better interest rate or tenure during the transfer. Vizzve helps you compare offers from multiple lenders.
FAQs
Q1. Can I do a balance transfer with a top-up loan?
Yes, many lenders – including Vizzve – offer a top-up loan during transfer.
Q2. Are there charges involved in a balance transfer?
Yes, you may need to pay processing fee, legal verification charges, and a foreclosure fee (if applicable). But most are one-time.
Q3. How long does it take to process the transfer?
Usually 7 to 10 working days with all documents ready.
Q4. Will my credit score be affected?
Not negatively. In fact, switching to better terms can improve your repayment health.
Published on : 23rd July
Published by : SMITA
www.vizzve.com || www.vizzveservices.com
Follow us on social media: Facebook || Linkedin || Instagram
🛡 Powered by Vizzve Financial
RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed