Address : B-34, Street No. 2, Jwala Singh Nagar, Near Jwala Singh Chownk, Haibowal, Ludhiana, Pin : 141001, Punjab. Mob.No. 9815130242, 9872377182. E-mail:
Lower your running Home loan EMI
**Benefits of Transferring Home Loan to Lower Interest Rate in India:**

1. **Cost Savings:** Lower interest rates result in reduced monthly EMIs, leading to substantial long-term cost savings.

2. **Increased Disposable Income:** Lower EMIs mean more disposable income, allowing for better financial planning and investments.

3. **Improved Affordability:** Reduced interest rates make housing loans more affordable, especially for borrowers with variable incomes.

4. **Faster Loan Repayment:** With lower interest, more of the monthly payment goes towards the principal, accelerating the loan repayment process.

5. **Enhanced Credit Score:** Timely payments on a lower-interest loan can positively impact your credit score.

**Procedure for Transferring Home Loan to Lower Interest Rate:**

1. **Check Eligibility:** Ensure you meet the eligibility criteria set by the new lender, including a good credit score and a reliable repayment history.

2. **Research Lenders:** Compare interest rates and terms offered by various lenders to identify the most favorable option.

3. **Submit Application:** Apply for the home loan transfer with the chosen lender. Provide all necessary documents, including KYC, income proof, property documents, and existing loan details.

4. **Property Valuation:** The new lender may conduct a valuation of the property to assess its current market value.

5. **Balance Transfer Letter:** Request a balance transfer letter from your existing lender, specifying the outstanding loan amount and other relevant details.

6. **Loan Approval:** Upon approval, the new lender issues a sanction letter outlining the terms of the new loan.

7. **Documentation:** Complete the required documentation for the new loan, including an agreement and the creation of a mortgage.

8. **Loan Repayment to Existing Lender:** The new lender disburses the loan amount, which is then used to repay the outstanding amount to the existing lender.

9. **Loan Closure:** Ensure that the existing loan is closed properly, and obtain a loan closure letter and all relevant property documents.

10. **EMI Repayment:** Start repaying the new loan through monthly EMIs at the lower interest rate.

Always consult with financial advisors and carefully read the terms and conditions before proceeding for more you can consult with Mr. Rahul 9815130242