Why Home Refinance can be a Debt Trap? When rates are low, it’s tempting to refinance your home, because your monthly payments will go down, and you’ll get some extra cash. Only people with the best credit qualify for the…
Debt Trap – Home Refinance
Debt Trap-Credit Cards
The following are the ways to avoid Credit card Debt Traps 1. Take stock of the situation The first and most important step to take is to acknowledge the problem in hand. If you become a defaulter on your repayment…
How home loan balance transfer works?
The interest rate of an existing home loan and the flexibility the financing institution offers determines whether one continues with the same loan or thinks of a switch. For a lower interest rate and/or other advantages, customers can transfer the…
Know more about Home Loan Balance Transfer
The following are the points to be noted before doing Home Loan Balance Transfer. 1) Reason to transfer Most borrowers shift their home loans from one lender to another because of a significant difference between the rate that their bank/housing…
How does a balance transfer work?
A balance transfer is where a part or all of a overdue balance/debt you have, from your current lender/credit card to another lender/credit card is transferred from one to another, usually to save money on interest repayments it is beneficial…
Can I do balance transfer for personal loan?
Absolutely yes, you can go for a Balance Transfer for personal loan to other banks if it is really beneficial with lower interest rates. You should also analyse the EMI you pay and the closing charges for that particular bank…
Can I transfer existing business loan to another bank?
Absolutely yes, you can go for a Balance Transfer for Business loan to other banks if it is really beneficial with lower interest rates. A balance transfer is where a part or all of a overdue balance/debt you have, from…
What should I check before applying for a home loan refinancing?
Transferring your existing Home Loan to a new bank is beneficial in many ways you can lower your interest rate and can also get additional money on existing loan. This is a fast and simple process. Consider the following points…
Is it beneficial to balance transfer the loan against a property to another bank?
Yes, you can transfer your LAP(Loan Against Property) from one bank which has a higher interest rate to another that gives you low interest rates.There is also an advantage of getting low interest with higher amount at the same time….