{"id":5711,"date":"2020-08-07T12:40:55","date_gmt":"2020-08-07T07:10:55","guid":{"rendered":"http:\/\/blog.ruloans.com\/?p=5711"},"modified":"2020-08-07T12:40:55","modified_gmt":"2020-08-07T07:10:55","slug":"save-lakhs-of-rupees-by-applying-for-home-loan-balance-transfer-via-ruloans","status":"publish","type":"post","link":"https:\/\/www.ruloans.com\/blog\/save-lakhs-of-rupees-by-applying-for-home-loan-balance-transfer-via-ruloans\/","title":{"rendered":"Save lakhs of rupees by applying for Home Loan Balance transfer via Ruloans"},"content":{"rendered":"\n

Are you tired of paying a high EMI on your home\nloan?<\/p>\n\n\n\n

What if we give you a solution where you can save\nmoney in lakhs?<\/p>\n\n\n\n

Yes, you can save EMI + interest money in lakhs.<\/p>\n\n\n\n

Do you want to know what the solution is?<\/p>\n\n\n\n

This special solution is “Home Loan\nBalance Transfer<\/a>“!<\/p>\n\n\n\n

What\nis a Home loan balance transfer?<\/strong><\/p>\n\n\n\n

Sometimes, we opt for a home loan at a high rate\nof interest. But in some time a new Bank is\noffering a lower rate of interest<\/a>. This is when you\ncan opt for a balance transfer and shift your loan to the new Bank. This is a\nloan that one can apply for when they feel they are paying high EMI and wish to\npay a lower EMI.<\/p>\n\n\n\n

How\nmuch money can I save on my Home loan Balance transfer?<\/strong><\/p>\n\n\n\n

Let us understand this with 1 example.<\/p>\n\n\n\n

Example\n1: – Mr. Kumar<\/strong><\/p>\n\n\n\n

Mr. Kumar is a middle-class man who works for a\nprivate company on a salaried basis. He wishes to get a home loan from ABC Bank\nfor 30 lakhs so he can buy his dream home. Here are the details. <\/p>\n\n\n\n

Loan amount – 30 lakhs<\/p>\n\n\n\n

Interest rate – 9.99%<\/p>\n\n\n\n

Loan tenure – 20 years<\/p>\n\n\n\n

MONTHLY EMI – 28,931<\/p>\n\n\n\n

Total Interest paid for a home loan – 39.5 lakhs<\/p>\n\n\n\n

\"Capture.JPG\"<\/figure>\n\n\n\n

As you can see, this is the amount he will be\npaying to ABC Bank.<\/p>\n\n\n\n

Now after some time, Mr.Kumar realized that XYZ\nBank is giving a very low-interest rate on home loans<\/a>.\nHe knows that he can save a lot of money there. That’s when he comes to Ruloans\nand applies for the best Home loan balance transfer.<\/p>\n\n\n\n

Let’s see what happens when Mr.Kumar applies via\nRuloans for a Balance transfer:<\/p>\n\n\n\n

Loan amount – 30 lakhs<\/p>\n\n\n\n

Interest rate – 6.95%<\/p>\n\n\n\n

Loan tenure – 20 years<\/p>\n\n\n\n

MONTHLY EMI – 23,169<\/p>\n\n\n\n

Total Interest paid for a home loan – 25.6 lakhs<\/p>\n\n\n\n

\"Capture.JPG\"<\/figure>\n\n\n\n

What\njust happened? How much did Mr.Kumar save?<\/strong><\/p>\n\n\n\n

When Mr.Kumar applied for a Balance transfer via\nRuloans, he <\/p>\n\n\n\n