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  • Balance Transfer

What is Personal Loan Balance Transfer?

Unhappy with your current personal loan? We have the perfect solution for you! Find a loan with better terms and more affordable interest rates by opting for balance transfer of existing loans. Wondering what does balance transfer personal loan mean? With this facility, you can transfer your personal loan outstanding from one lender to another to secure better loan terms – from better interest rates and repayment terms to a longer loan tenure.

 

A personal loan balance transfer is an excellent way to significantly reduce your EMI burden by availing lower interest rates. Transfer your personal to Tata Capital with our personal loan balance transfer facility to enjoy flexible loan tenure of up to 7 years and structured EMI plans for easy loan repayment.

 

The best part? We offer personal loan balance transfer at a nominal processing fee and interest rates starting at just 10.99%!

Benefits of personal loan balance transfer

A personal loan balance transfer is a great way to transfer your outstanding loan to another lender with lower interest rates or better terms and conditions. With Tata Capital's balance transfer facility, you can reduce your EMI burden with affordable personal loan interest rates starting at just 10.99%.

1

Longer repayment tenure

You can enjoy a flexible loan tenure of up to 7 years. This allows you to prolong your existing loan tenure and spread out your EMIs over a longer duration. It is an excellent way to reduce your monthly EMI burden and manage your budget effectively.

2

Competitive interest rates

One of the most significant benefit of a balance transfer is getting a lower interest rate. Tata Capital offers competitive interest rates for PL balance transfers, starting at just 10.99%. This can reduce your interest payout and overall debt burden. Transferring your existing personal loan to Tata Capital will give you more disposable income and better financial stability.

3

Overdraft facility

You can access the exclusive overdraft facility when you transfer your personal loan to Tata Capital. Our overdraft facility is designed to maximise your flexibility and financial convenience. For the first two years, you only pay interest on the amount you use, with no principal repayment. After two years, up to the next five years, you only have to pay the principal and interest on the utilised loan limit.

4

Low processing fees

While a loan balance transfer is a great way to reduce your debt obligation, you must carefully consider the processing fee. Tata Capital charges a nominal processing fee for PL balance transfers, ensuring the cost of transferring your loan is minimised. This not only helps you save money but also ensures the process is affordable and financially feasible.

5

Debt consolidation

If you have multiple personal loans from different lenders, you can consolidate them into a single loan. This simplifies the repayment process and helps you organise your finances, as you only have to track and pay the EMIs on a single loan instead of multiple accounts. Additionally, with a more favourable interest rate, you can potentially reduce your EMI amounts.

Reasons to choose Tata Capital for a Personal Loan Balance Transfer

A name you can trust

Tata Capital is a brand that is loved across the country. Want to spruce up your home or fund a grand wedding? Looking for a Personal Loan Balance Transfer Lowest Interest Rate? Whatever your financial needs are, our team of experts will guide you through the Personal Loan Balance Transfer process and customize a personal loan offering most suitable for you.

 

Competitive interest rates

Personal loan interest rates don't get better than ours! Starting at only 10.99%, our offer of Balance Transfer Interest Rate is lowest in the industry to make sure your personal loan journey goes smoothly.

Longer tenures

Tired of meeting the EMI deadlines? Opt for a longer tenure when you go for a Personal Loan Balance Transfer and repay the personal loan EMI comfortably. At Tata Capital, we offer tenures going up to 7 years!

Nominal processing fee

Before opting for a Personal Loan Balance Transfer, it's best to check all the costs involved, so your pockets don't suffer a strain. With Tata Capital, you are assured of the lowest processing fees.

Overdraft facility

Need quick cash to meet last-minute needs? Switch to Tata Capital's Personal Loan Overdraft facility and enjoy flexible repayment options. Our quick Personal Loan Balance Transfer process offers tenure of up to 60 months with interest rates starting at just 13.50%! Apply for a balance transfer of loans outstanding with Tata Capital today.

 

Tenure up to 72 months

Why pay interest when you don’t need funds? Use the limit when you need funds and pay back whenever you have excess funds. Apply for a Personal Loan Balance Transfer with Tata Capital Personal Loan Overdraft facility and pay only interest on the utilised limit for the first two years, with no principal repayment. Pay principal and interest on utilised limit after two years for the next 5 years. Moreover, with Tata Capital, you get the Personal Loan Balance Transfer Lowest Interest Rate in the industry. Terms & Conditions apply.

How to check eligibility for Personal Loan Balance Transfer?

You can apply for a Personal Loan Balance Transfer by fulfilling the conditions below:

You can apply for a Personal Loan Balance Transfer by fulfilling the conditions below:

  • You must be between

    21 to 58 years old.

  • You must have at least one year of work experience

  • You must have a monthly income of at least Rs. 20,000.

Documents required for Personal Loan Balance Transfer

To avail of a personal loan balance transfer from Tata Capital, you're required to submit the following list of documents-

1. ID proof- Aadhaar card/ Voter ID/ Driving License/ Passport

2. Address Proof

3. A copy of salary credits or primary bank account statements for the last six months as income proof

4. A copy of salary slips for the last two months

5. A certificate stating one year of continuous employment

Process of Personal Loan Balance Transfer

The personal loan balance transfer process with Tata Capital typically involves the following steps-

1. Check for personal loan interest rates offered by other lenders and calculate the potential interest savings on our app.

2. Consider the loan transfer fee and other charges that might be applicable to your existing and new lender. This will help you evaluate whether it makes sense to opt for a balance transfer.

3. Shortlist lenders with suitable personal loan offers and compare the interest rates offered, personal loan eligibility, and the loan transfer process.

4. Once you have picked the new lender, apply for an NOC (No-objection certificate) and loan foreclosure with your current lender.

5. Start the application process and submit the necessary documents.

6. Once you receive the approval, execute the new loan agreement with the new lender.

7. The outstanding loan payable to the previous lender will be disbursed by the new lender

8. Once the previous lender receives the outstanding loan balance, they will cancel all the cheques and close your personal loan account.

More Personal Loan products for you

Personal Loan for government employees
Personal Loan for government employees

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If you are a government employees looking for a way out of a cash crunch, let Tata Capital ease your financial pains! Get an instant personal loan within a few minutes.

Personal Loan for salaried employees
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Personal Loan for salaried employees

If you are a salaried employees looking for a way out of a cash crunch, let Tata Capital ease your financial pains! Get an instant personal loan within a few minutes.

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Personal Loan for women

Personal Loan for women

If you are a women looking for a way out of a cash crunch, let Tata Capital ease your financial pains! Get an instant personal loan within a few minutes.

What our customers say about us

Thanks for the support provided by Tata Capital during my bad days. The team gave me valuable support.

S BALASUBRAMANIAN

Personal Loan | 03 May, 2024

I have already appreciated the patience and professionalism that your staff has given during the entire tenure of this loan with Tata Capital. The practices and the way you interact with customers are best and are testimony of the TATA GROUP legacy. I am sincerely obliged to you for your help and cooperation.

PRASHANT BALASAHEB NEHE

Personal Loan | 02 May, 2024

Your services are very good. You understand the problems of your customers, and you will continue to be the first to help your customers in the future.

RANJEEV SINGH BAKSHI

Personal Loan | 01 May, 2024

Tata Capital's work is very good, and their customer support is very helpful. Thank you, Tata.

RAGHUVIR BABULAL OZA

Personal Loan | 30 April, 2024

Our experience with Tata Capital seems excellent. We are grateful for their consistent financial support tailored to Our needs. Tata Capital appears to be a humble organization with supportive and helpful staff, always treating customers with respect and value. We express gratitude to all Tata Capital members.

SUHEL AHMED

Personal Loan | 27 April, 2024

Excellent service. Tata Capital is my go-to source for funds in an emergency. I will refer all my friends and family members to get financial services from Tata Capital.

SHANTA YADAV

Personal Loan | 22 April, 2024

Excellent services provided. Looking forward for future requirements. Like to travel with tata capital along journey of life.

P PRAVEEN KUMAR

Personal Loan | 18 April, 2024

Dear Team, That was a really good experience for me. I have a good history and experience with Tata capital. Whatever feedback I give, they take it seriously and work on it to resolve the same. Tata capital is good as always. Thanks for the loan.

NISAND DURAI

Personal Loan | 14 April, 2024

It is going to be a good relation with Tata Capital as I got help from here when I was not getting help from anywhere. Thanks for the trust.

ARSHAD JAAN

Personal Loan | 09 April, 2024

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