{"id":5524,"date":"2020-06-29T19:26:13","date_gmt":"2020-06-29T13:56:13","guid":{"rendered":"http:\/\/blog.ruloans.com\/?p=5524"},"modified":"2020-06-29T19:26:13","modified_gmt":"2020-06-29T13:56:13","slug":"find-out-the-best-solution-to-reduce-your-home-loan-emi","status":"publish","type":"post","link":"https:\/\/www.ruloans.com\/blog\/find-out-the-best-solution-to-reduce-your-home-loan-emi\/","title":{"rendered":"Find out the best solution to reduce your Home Loan EMI"},"content":{"rendered":"\n

As we will slowly resume our life back to normal,\nall our monthly expenses will keep rising and hence it can difficult to repay\nloan EMIs. One of the biggest EMIs a person can have in his kitty is the Home loan EMI<\/a>.<\/p>\n\n\n\n

Home\nloan EMIs<\/a> are usually paid for 10-20 years at least. Even\nthough it’s a long term loan product, the monthly EMI is often higher than\nalmost every other loan product.<\/p>\n\n\n\n

As a first time borrower, you might be able to\nrepay your home loan EMIs monthly without any problem. But in certain\nsituations like lockdown due to COVID-19, it can get increasingly difficult for\na person to manage such a huge EMI amount.<\/p>\n\n\n\n

But don’t worry as we have the best solution for\nyou. That solution is “Home loan\nBalance transfer<\/a>“.<\/p>\n\n\n\n

What is a Home loan Balance transfer?<\/p>\n\n\n\n

This is a facility offered by Banks and NBFCs in\nIndia to home loan borrowers. If a new Bank is offering a lower interest rate\nthan your existing bank, then you can opt for a home loan\nbalance transfer<\/a> and move your home loan to the new\nBank.<\/p>\n\n\n\n

Yes, in such a situation you will end up saving a\ngood EMI amount.<\/p>\n\n\n\n

When should I take a home loan balance transfer?<\/p>\n\n\n\n

You should apply for a home loan\nbalance<\/a> transfer when you are in the early stages of your\nhome loan i.e. within the first 5 years of your home loan. This is the period\nwhen you pay maximum interest and hence by taking a balance transfer you will\nsave a lot of money.<\/p>\n\n\n\n

Is this the right time to apply for a Balance\ntransfer?<\/p>\n\n\n\n

With the lockdown, many are struggling with\nrepaying their monthly EMIs. Some have opted for the moratorium but that\ndirectly affects your loan tenure. Instead, you can choose to find the\nBank\/NBFC that offers the lowest interest rates as compared to your Bank.<\/p>\n\n\n\n

How can Ruloans help me?<\/p>\n\n\n\n

Ruloans is one of the pioneers in the loan\nindustry. After being in the loan industry for over 2 decades, we know how the\nmarket works and how does a trend move. When you apply for a home loan balance\ntransfer through us, we help you find the best deal online. This is because our\nmotto is “We help you borrow right”.<\/p>\n\n\n\n

Hence if you want to apply for the\nbest home loan balance transfer in India<\/a>, visit our website\nand apply today.<\/p>\n","protected":false},"excerpt":{"rendered":"

As we will slowly resume our life back to normal, 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