Post Details

Personal loan in Varanasi has become an important part of middle-class life. While a loan can solve many problems in the financial sphere, a personal loan transfer can be even more beneficial. Wondering how? Bhumi Finance is here with anything and everything that you wish to know about personal loan transfers. So, hang tight and read till the very end.

A sneak peek into personal loan transfer
A personal loan balance transfer refers to the transferring of the outstanding loan balance on your personal loan in Azamgarh from your current lender to some other lender for a lower rate of interest. Wondering how can a personal loan transfer fetch? Here’s a list of benefits of a personal loan balance transfer:
A lower rate of interest.
One of the primary objectives of exercising a personal loan balance transfer is to avail lower interest rates and thereby, reduce one’s overall interest cost. 
A longer repayment tenure.
Exercising a personal loan balance transfer facility can also help a borrower to opt for a longer tenure than the residual loan tenure of his existing personal loan. A longer tenure will reduce his monthly EMI burden. However, this would lead to a higher interest cost for the borrower.
Get a lucrative top-up!
Many banks and financial institutions such as Bhumi Finance offer top-up personal loans to those transferring their existing personal loan in Chandauli. Thus, a personal loan balance transfer facility would benefit existing personal loan borrowers unable to avail of top-up personal loans or be charged higher interest rates for it.
Sounds worthwhile? Check your eligibility in the subsequent section.

Are you eligible for a personal loan balance transfer?

At Bhumi Finance, we do not have a very stringent eligibility criterion for a personal loan balance transfer so more and more borrowers can avail the benefits of this. In order to opt for a personal loan balance transfer, you need to:
Be in the age bracket of 21 to 65 years.
Either be self-employed or a salaried individual with at least 2 years of job experience and at least 15,000 INR as monthly income.
Have an outstanding amount of 50,000 INR on your personal loan in Ballia.
Need to hold a repayment history that is clear.
Have a CIBIL score of 750 or above.
Do you meet the eligibility criterion? Apply for a personal loan balance transfer now. Wondering how? Read the subsequent section. 

How to get a personal loan balance transfer done?

In recent years, umpteen borrowers have approached Bhumi Finance for getting their personal loan balance transferred to us. This is because we have been enjoying the reputation of offering a low-interest rate on outstanding personal loan balances. Do you wish to enjoy the perks of a personal loan balance transfer? Here’s how you can apply for one:
Compare your current interest rate with lenders. Now, evaluate the estimated cost of the loan transfer taking into account various charges and fees that might be applicable.
Consider the net benefits and finalize whether you want to opt for the balance transfer or not. A comparison with Bhumi Finance can be done at https://bhumifinance.com/.  You will find that we extend a lower interest rate as compared to other shortlisted lenders. 
On finalizing us as the new lender, all you need to do is to apply for a NOC (No Objection Certificate) and foreclosure letter from your existing lender. 
We will kickstart your application process as soon as we receive the NOC along with other loan documents. 
All the formalities that are to do with your previous lender will fall on our abled shoulders. We will get your personal loan account closed. 

Documentation required
Documents for salaried as well as self-employed individuals are listed below:
For Salaried individuals:
Bank statement for the last six months.
Salary slip for the last 3 months.
Personal loan statement from your current bank or a financial institution from whom the loan is to be transferred.

For Self-employed individuals:

Business PAN card.
Address of business as well as requisite vintage proofs.
Bank statement of the owner as well as the business.
Balance sheets for the last three years along with the requisite profit and loss statements.
Personal loan statement from your current bank or a financial institution from whom the loan is to be transferred.

Apply now at Bhumi Finance to enjoy a low-interest rate on your outstanding amount on your  personal loan in Basti.