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Balance Transfer and Housing Finance

Loan repayments - Move your Home Loan outstanding balances to HDFC, enjoy the savings for the other things in life that really matter to you and your family.<br>

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Balance Transfer and Housing Finance

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  1. Home Loan Balance Transfer

  2. Balance Transfer and Housing Finance

  3. The Indian immovable property has come of ages. Consumer is the King now and gone are the days of monopolistic behavior. • And definitely, if you are the one with sound financial background and impeccable credit record you can strike a better deal with the banks in terms of interest rates and other payment conditions and purchase your dream property without any hassle. • Interestingly, the same criteria are equally applicable on those, as well, who have already availed a loan from a bank. Near about all the major public and private sector banks in the Indian banking system are now offering the option of 'Balance Transfer' on housing finance.

  4. What is Home Loan Balance Transfer and how is it relevant in the housing finance? • There are times you find that the interest rate on your home loan is at a higher level. Take an example. Suppose you were paying at the rate of 10.5 per cent per annum. • This rate is quite high in comparison of 9 per cent offered by some other bank. In such cases balance transfer of housing finance comes into rescue. • You can trigger off the balance transfer option with your existing bank or lending institution, under which the unpaid portion of your housing finance would get transferred to your desired bank.

  5. So, in such case your total owing remains the same and the transfer is not profitable. In this situation, you have to suffer the impact of debt compounding, which does not favors you in the long run. • Seeking balance transfer as a burden reduction option needs the similar degree of caution and study that you undertake while taking housing finance. • Definitely with balance transfer, you can save a considerable amount of interest charges under this option once you strike the right chord! • [Source: http://ezinearticles.com/?Balance-Transfer-and-Housing-Finance&id=1337511]

  6. Click to know more on Home Loan Balance Transfer: https://www.hdfc.com/housing-loans/home-loans/for-balance-transfer-salaried Thank You…

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