Personal Loan Balance Transfer @11% | Lower Your Loan Costs

Medical Emergency

Home Renovation

Wedding

Vacation

Education

Debt Consolidation

Unlock the potential of your finances with a Personal Loan Balance Transfer. Opt for a Personal Loan Balance Transfer to efficiently manage your repayments and streamline your finances. With the convenience of a Personal Loan Balance Transfer online, you can switch to more favourable terms, from the comfort of your home.

Features & Benefits
EMI Calculator
Documentation & Eligibility
Fees & Charges
Frequently Asked Questions

Simplified Repayment

Consolidate multiple loans into a single, easy-to-manage EMI.

Lower Interest Rates

Potentially reduce your overall interest outgo.

Flexible Repayment Tenures

Choose a repayment tenure that suits your budget.

Quick Disbursal

Fast processing and quick disbursal of funds.

Minimal Documentation

A streamlined application process with minimal paperwork.

Reduced Monthly EMIs

Lower interest rates can lead to reduced monthly payments.

Improved Credit Score

Timely repayments can positively impact your credit score.

Financial Peace of Mind

Manage your finances more efficiently with a single loan.

Easier Budgeting

A simplified repayment structure can help you budget better.

Potential for Tax Benefits

Depending on the loan purpose, you may be eligible for tax benefits.

Personal Loan EMI Calculator

Results generated by the calculator(s) are indicative in nature.

Preferred loan amount

₹

₹50,000

₹30,00,000

Interest rate (per annum)

11%

24%

Loan tenure (months)

12 months

72 months

Estimated EMI

per month

₹ 36,690
Interest payable
₹52,41, 690

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Personal Loan Balance Transfer Eligibility & Documents Required

Eligibility for Personal Loan Balance Transfer

Residency:

Indian resident

Age requirement:

21 years to 58 years

Profession:

Salaried or self-employed individuals

List of Documents Required for a Personal Loan Balance Transfer

Identity Proof

Address Proof

Utility bills (not older than 2 months) | Aadhaar Card | Driving License | Passport | Voter ID etc

Income Proof

Income proofs vary for different professionals across salaried and self employed.

Please find the easy detailed list of required documents here

a) Salaried - Last 3 month's salary slips / Form 16 / Last 3 month's bank statement reflecting salary credits / Salary Certificate

b) Self Employed - Latest Income Tax Return (ITR)

c) Bank Statement -Last 3 month's statement is mandatory

d) Residence Ownership Proof - Not mandatory

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Download the Planet app for a one stop loan solution with effortless management at your fingertips. Learn More

FAQs & Support

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Are there any hidden charges in a Personal Loan Balance Transfer?

L&T Finance does not have any hidden charges.

Who can opt for the balance transfer facility?

Any borrower who meets the eligibility criteria set by the new lender can opt for the balance transfer facility.

Can I reduce my monthly EMIs by opting for a Personal Loan Balance Transfer?

Yes, the transfer can decrease your EMIs by allowing for lower interest rates and extended tenures.

Can you increase your loan amount by opting for a balance transfer?

Yes, you can increase the total loan amount by securing a Top Up Loan along with the balance transfer.

Is the loan amount that can be transferred subject to a maximum?

Yes, lenders have a maximum limit based on their terms and your eligibility.

Can the repayment tenure change while opting for the Personal Loan Balance Transfer?

Yes, you can select a new tenure to potentially lower your monthly payments.

Can I transfer from a Personal Loan with a fixed rate of interest to one with a fluctuating rate?

Yes, switching to a loan with a variable rate is possible if it aligns with your financial strategy.

How can I prepay my Personal Loan as I cannot visit a branch?

You can prepay online through the lender’s customer portal or mobile app, allowing for convenient management.

Is balance transfer a good idea for a Personal Loan?

Yes, it can help reduce your interest burden and monthly EMIs, enhancing your financial flexibility.

After transferring the balance of my Personal Loan, would my repayment plan change?

Yes, the repayment plan will align with the new terms, potentially altering EMI amounts and tenure.

Explore all FAQs

Personal Loan

I have upskilled myself and look forward to starting my own venture soon. Smooth process, disbursement in 15 mins of process completion. Extremely satisfied with the assistance of the Call Center.

Jasbir Kaur

Punjab

Personal Loan

I was aware of L&T Finance Consumer Loans, as I have already benefited from their services in the past. They had even clarified my doubts about T&C and loan process by calling me up at my convenient time. Because of such good support, I decided to take loan again from L&T Finance Personal Loans.

Chirag Mehta

Ahmedabad, Gujarat

Personal Loan

I spotted an L&T Finance Consumer Loans ad and applied. After my verification call, my request for loan was approved and the loan amount was transferred in the following 24 hours. L&T Finance Personal Loans provided me timely, financial help.

Vinod Bidlan

Andheri, Mumbai