Loan Balance Transfer — Move to a lower rate

Savings calculator

See what a lower rate is worth

Enter your current loan details and a target rate. We'll estimate your new EMI and the interest you could save over the remaining tenure.

Outstanding loan amount₹—

Your current interest rate—

Target rate on Vyaaj—

Remaining tenure—

Estimated interest you could save

₹—

Current EMI₹—

New EMI on Vyaaj₹—

Lower every month by₹—

Indicative only. Real savings depend on the lender's offer, processing fees and your remaining tenure. Compare your actual offer free on Vyaaj.

Indicative transfer rates

Balance transfer rates across lenders

A snapshot of where balance transfer rates begin. Your actual rate depends on your loan type, credit profile and the lender's assessment.

Lender	Transfer rate (p.a.)	Processing fee	Top-up loan
Bajaj Finance	8.65% onwards	Up to 1%	Available
Tata Capital	8.55% onwards	₹0 – 1%	Available
Poonawalla Fincorp	8.75% onwards	Up to 1.5%	Available
Aditya Birla Finance	8.85% onwards	Up to 1%	Available
L&T Finance	9.10% onwards	Up to 1%	Available

*Rates, fees and top-up availability are indicative and for illustration only. They are not an offer. Final terms are set by the lender at its sole discretion and are subject to RBI guidelines.

Before you switch

Eligibility & documents

Most lenders look for a clean repayment record on your existing loan. Here's what's typically needed.

You're likely eligible if

You have an active personal or home loan with another lender
The loan has been running for at least 6–12 months
You've made EMIs on time with no recent defaults
Your credit score is healthy (typically 700+)
You have a stable income — salaried or self-employed

Documents you'll usually need

Existing loan statement and sanction letter
Foreclosure / outstanding letter from your current lender
KYC — PAN and Aadhaar
Income proof — salary slips or bank statements / ITR
Property documents (for a home loan transfer)

How a transfer works

Switch in three simple steps

Compare, free

Tell us your current loan and rate. We show transfer offers from across the market and the savings on each — with no impact on your credit score.

Pick a lower rate

Choose the offer that saves you the most after fees. Apply through Vyaaj with documents uploaded once.

New lender pays off the old one

Your new lender settles the outstanding balance with your existing lender. You simply continue with the lower EMI.

Good to know

Balance transfer questions

What is a loan balance transfer?

It's the process of moving your existing loan from your current lender to a new one that offers a lower interest rate or better terms. The new lender pays off your old balance, and you repay them instead — usually at a lower EMI.

Will comparing offers affect my credit score?

Comparing on Vyaaj uses a soft enquiry, which doesn't affect your score. A hard enquiry only happens once you choose a lender and formally apply — that's standard for any loan, including a transfer.

Are there foreclosure or prepayment charges?

As per RBI guidelines, banks and NBFCs cannot levy foreclosure or prepayment penalties on floating-rate loans sanctioned to individual borrowers. Fixed-rate loans and some other categories may carry charges, so check your loan agreement before you switch.

How do I know if a transfer is actually worth it?

Weigh the interest you'll save against the new lender's processing fee and any switching costs. A transfer usually makes most sense when you have a meaningful rate gap and a good chunk of tenure left. Our calculator gives you the savings figure to compare against the fees.

What is a top-up loan?

When you transfer your loan, many lenders let you borrow an additional amount on top of your outstanding balance — often at the same low rate. It's a convenient way to fund a renovation or other need without taking a separate, costlier loan.

How long does a balance transfer take?

For personal loans it can be a few working days once documents are in order. Home loan transfers take longer because they involve property and legal verification — typically a couple of weeks. Timelines are set by the lender.

Move your loan. Keep the savings.