Cholamandalam Investment and Finance Company (Chola Finance) offers different home loan products to its wide customer base, including the facility of existing home loan balance through a hassle-free process. Having your home loan balance transferred to Cholamandalam has various benefits like lower EMIs and better customer service among other benefits.
Benefits of Home Loan Balance Transfer
- Lower rate of interest: The key benefit of the home loan balance transfer is a low rate of interest as the reduction in the rate of interest leads to lower EMIs and savings.
- Good repayment track record gives better loan negotiation terms: A good repayment track record, credit score, regular income are factors that help a borrower to negotiate for better loan terms while opting for a home loan balance transfer
- Top-up loans can be availed: Top-up loans can be availed if opting for a balance home loans transfer at competitive rates. This could be used to pay off your existing loans or for undertaking a home renovation.
Important Points to Consider:
- Chola Finance Home Loans is available to both salaried and self-employed individuals
- A good credit score is one of the key criteria for availing Chola Finance Home Balance Loan. So, make sure to check your credit score and improve it, before going for a home loan balance transfer.