An unsecured personal loan is one of the best resorts to arrange funds urgently. However, if you have already had a personal loan and finding it tough to manage EMIs, you can switch to a new lender and save on interest charges. It is possible to do that using the personal loan balance transfer facility. But before doing that, a few factors need to be considered. Read on and know more! Take into considerations these points before taking a personal loan balance transfer
2. Processing charges To avail of the personal loan balance transfer, you will need to pay some processing charges. You need to make sure that this cost does not lead to a loss for you. 3. Fine prints Before opting for the personal loan balance transfer, you need to consider the terms and conditions of your lenders. You should ensure that there are no hidden clauses. If yes, it may hurt your financial prospects. You should get in touch with a lender to understand terms unclear to you. 4. Top up loan facility One of the key considerations before going ahead with the personal loan balance transfer is to check if your lender is offering the top-up personal loan. The top-up loan can guarantee a large amount at a rate and tenor as that of an ongoing loan. It can help you cover your additional needs without usage restrictions. If you are able to consider the discussed aspects of personal loan balance transfer, it can assist you in approaching and managing your loan transfer convincingly. Bajaj Finserv offers pre-approved deals on personal loans, home loans and more. It is to simplify the processing of the loan and make it faster. You can check out your pre-approved loan offers today after sharing your basic details like your name and mobile number. Must Read: Remember These Points Before Availing Personal Loan Balance Transfer
0 Comments
Leave a Reply. |
AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |