Transfer your existing home loan to Edelweiss Bank to get attractive interest rates and other benefits.
- Tailor-made home loans to suit customer’s repayment ability
- Loans available for both salaried and self-employed individuals
- Edelweiss follows their own algorithm to determine your credit rating and assess your cash flow before approving your loan
- You can get up to 90% of property value as loan amount
- You also get 20 years of repayment tenure
Read more on Balance Transfer of Home Loans
What Is A Balance Transfer Home Loan?
A Balance Transfer Home Loan is when the full unpaid principal loan amount is transferred to another bank at a reduced rate of interest. Balance transfers help you to refinance your existing debt at a lower interest rate.
Points to remember while opting for a balance transfer home loan
Before deciding on a balance transfer, you should conduct a cost-benefit analysis. The balance transfer will be determined by the difference in interest rates offered by the two banks, the amount of the loan that remains due, and the remaining duration. A balance transfer may not be the best option if the amount owed is little or if there are only a few years left on the contract. This is also because banks frequently charge a processing fee for balance transfers, which may not be worth it in the end.