Balance Transfer

WHY PAY HIGHER RATE OF INTEREST WHEN YOU CAN GET LOWER RATE – AVAIL BALANCE TRANSFER IN MUMBAI

Everyone wants to save his hard earned money, so why pay high rate of interest when we have the opportunity to transfer our existing loan at lower rate of interest and get enhanced amount too.Lowest interest rates on home loan balance transfer in Mumbai

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5 Things to Know About Balance Transfer

WHAT IS BALANCE TRANSFER?

Balance Transfer is transferring balance loan outstanding of any of your loan like Home loan, Personal loan, Business Loan & Loan against property from one financial institution to another at a lower rate of interest.

WHAT WILL BE THE LOAN AMOUNT?

The loan amount depends on the current outstanding balance of your loan. One can also avail additional loan amount (Top-Up) as it has a lower rate of interest.

DOCUMENTS REQUIRED TO AVAIL BALANCE TRANSFER IN MUMBAI?

  • KYC (Know Your Customer) Documents: ID Proofs, Address Proofs, Signature Proofs, Photograph
  • Income Proof: Three months Salary Slip, 2 years Form 16 for Salaried or 3 years Income Tax Returns/Audit report for self-employed.
  • 6 months to 1 year Bank Statements
  • Employment Proof/Business Proof
  • All balance transfer related documents like Sanction letters, Balance outstanding letters, Statement of Accounts, etc
  • Application form duly filled

TIME FOR PROCESSING BALANCE TRANSFER IN MUMBAI?

The processing time depends on the type of loan one avails, generally Home Loan & Loan against Property takes 2 to 3 weeks, Business Loan takes 7 to 15 days and Personal Loan takes 3 to 7 working days depending on factors such as the financial position of the borrower, CIBIL report and promptness in providing documentation.

MAXIMUM TENURE FOR BALANCE TRANSFER IN MUMBAI?

The maximum tenure depends on the type of loan one avails, Home Loan can be availed for 30 years, Loan against Property can be availed for 15 years, Business Loan can be availed for 4 years and Personal loan can be availed for 5 years.

Why Loan Naka?

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Quick

Our motto is to process all the loans within its time frame. Thanks to our dedicated team for always keeping the customer first.

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Convenient

We are here to make the process simpler by offering our services anytime anywhere, as per your convenience. We offer the best deal by negotiating with our bank/financial institutions partners.

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Transparent

We help you to compare and select from our 20+ banks/financial institutions partners. Timely update on the status of loan is also given.

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