Transfer your existing personal loan to a lower rate, reduce EMIs, and optionally get a top-up — all online.
Why choose us
Still repaying a personal loan at a high interest rate? You don't have to. A personal loan balance transfer lets you move your outstanding loan amount to a new lender who offers you a significant lower interest than your ongoing interest rate. It lowers your monthly EMIs and the total interest you pay over the loan tenure.
| Feature | Details |
|---|---|
| Loan Amount | Up to Rs. 10 Lakh |
| Interest Rate | 9.99% p.a. |
| Approval Time | 24 hours (depends on bank) |
A personal loan balance transfer, commonly called a BT loan,, is process of transferring your existing personal loan's outstanding principle from your current lender to a new bank or NBFC that offers you a lower interest rate
In simple words, the new lender pays off your old lender, and you continue repaying the same outstanding amount to the new lender at revised (lower) terms.
There are several reasons why you should consider switching your loan:
For example, if you currently have a ₹5 lakh personal loan at 18% p.a. With 36 months remaining, transferring it to a lender at 11% p.a. can reduce your EMI by ₹1,800–₹3,000/month and save you ₹65,000–₹100,000 in total interest.
Use the personal loan balance transfer calculator to compare your current EMI against what you could pay after a BT. While we recommend using our online tool on the website, here is a quick reference:
| Outstanding Loan | Current Rate | BT Rate | Approx. Monthly Saving |
|---|---|---|---|
| ₹3 Lakh | 18% | 10.5% | ~₹1,200 |
| ₹5 Lakh | 16% | 10.5% | ~₹2,100 |
| ₹7 Lakh | 20% | 11% | ~₹3,500 |
| ₹10 Lakh | 22% | 9.99% | ~₹6,000 |
NOTE: Approximate savings. Actual figures depend on tenure, processing fee, and lender terms. Use Bikesh Finserv's balance transfer calculator for a precise estimate.
Finding the personal loan balance transfer with the lowest interest rate is the primary goal of a BT. Here is an overview of current rates from major lenders:
| Lender Type | Interest Rate (p.a.) | Processing Fee (BT Charges) |
|---|---|---|
| HDFC / ICICI / Axis | 9.99% – 12.50% | 0.5% – 2% of loan amount |
| SBI / BoB / PNB | 10.50% – 14.00% | 1% – 2% of loan amount |
| Kotak / IndusInd / Yes Bank | 10.75% – 15.00% | 1% – 2.5% of loan amount |
| NBFCs | 11.50% – 18.00% | Up to 3% of loan amount |
NOTE: Interest rate is subjected to change; please contact bikesh finserv for latest update
To qualify for a personal loan BT, you generally need to meet the following criteria:
| Criteria | Requirement |
|---|---|
| Age | 21 to 60 years |
| Employment | Salaried or self-employed |
| Monthly Income | ₹20,000 and above |
| CIBIL / Credit Score | 700 or above |
| Minimum EMIs Paid | At least 6 EMIs on existing loan |
| Loan Type | Existing personal loan (active and in good standing) |
| Residency | Indian resident |
A higher credit score significantly improves your chances of getting the personal loan balance transfer with the lowest interest rate. If your score has improved since you took your original loan, now is the right time to switch.
The documentation for a loan takeover is very simple You'll need:
Curious about how to transfer a loan from one bank to another? Here is the complete personal loan balance transfer online process
Bikesh Finserv is not limited to personal loan BT alone. We also assist with:
| Loan Type | What We Help With |
|---|---|
| Personal Loan Balance Transfer | Switch to a lower-rate lender, reduce EMI, and get a top-up. |
| Home Loan Balance Transfer | Move your home loan for better interest rate offers |
| Car Loan Balance Transfer | Reduce interest on existing auto loan |
| Education Loan Transfer | Transfer education loan for better repayment terms |
| Loan Transfer to Other Person | Advisory on legally permissible loan transfers |
Self-employed borrowers can transfer personal loans when business income and repayment history are strong.
Application Tips
Improvement in CIBIL since your original loan can qualify you for better rates even if your score is moderate.
What Helps Approval
Simple process
From eligibility check to balance transfer completion — a seamless digital journey.
Step 01
Fill in your basic details and see your loan offer in seconds.
Step 02
Pick the amount and tenure that perfectly fits your needs.
Step 03
Approved! Your loan is disbursed directly to your account.
Type of balance transfer
Move your existing personal loan to a lender offering better rates, flexible tenure, or a top-up — and simplify your borrowing costs.
| Purpose | Typical amount | Transfer scenarios |
|---|---|---|
| High-rate personal loan | Rs. 1 Lakh – 25 lakh | Cut interest by 2–4% with the right lender |
| NBFC to bank transfer | Rs. 50,000 – 15 lakh | Move to a bank with lower long-term rates |
| Top-up with transfer | Rs. 2 Lakh – 40 lakh | Get extra funds while switching lenders |
| Tenure restructuring | Any outstanding | Extend or shorten tenure during transfer |
| Multiple loan merge | Rs. 1 Lakh – 30 lakh | Combine with debt consolidation if eligible |
When balance transfer makes sense:
Additional benefits:
Got questions?
It stands for Balance Transfer. A BT loan or personal loan balance transfer means shifting your existing loan's remaining amount from one lender to another at a lower interest rate
Yes, the charges include two components: 1st Foreclosure/prepayment fee charged by your existing lender (typically 2%–5% of outstanding principal), and when we talk about 2nd part, a processing fee charged by the new lender (typically 0.5%–3% of loan amount)
Yes. The entire personal loan balance transfer process can be completed online through Bikesh Finserv.
No, it will not hamper your credit score.
Yes, it is completely possible to transfer your loan from one bank to another.
When your current loan rate is high, you have paid 6+ EMIs cleanly, and a new lender offers meaningful savings.
Many lenders offer additional funds on top of the transferred outstanding amount based on eligibility.
Most transfers complete within 5–10 working days after approval and foreclosure settlement.
