Many times this happens that you apply for a personal loan from a bank which offers you lowest interest rates and easy EMIs. But after you start repaying the loan, you come across another financial institution which offers better deals on interest rates and EMIs. Here you wish to change your personal loan account from one bank to another. With the feature of 'Personal Loan Balance Transfer', your wish can come true. This is very similar to transferring your balance amount from one bank to another. After choosing this feature you can pay your personal loan EMIs to the other bank you choose. The interest rate and charges applicable to the EMIs will be according to this new bank to which you transferred your personal loan to.
To enjoy better rate of interest offered by another bank.
To avail new and exciting offers on the loan balance transfer.
To get better services from new lender if you are unhappy with the services provided by your current loan provider.
To enjoy the benefits of top up loan feature that gives you a chance to borrow additional amount as loan.
Ruloans is India's fastest growing financial distributors. A comprised team with mammoth experience in finance and internally developed highly proficient Loan Calculator algorithm, we are pledged to offer solutions to all your financial needs. Borrowers can apply for personal loans with Ruloans' latest online application process. You can choose from a plethora of banks and NBFCs on our website for your loan. We help you borrow right.
We have developed an efficient, smooth and easy process for our consumers to get a personal loan. Our easy to use online procedure allows consumers to apply documents quickly. Our highly proficient Loan Calculator also guides the consumers to embark on a hassle free process.
We value our consumers and are always on our toes to give them benefits of our expertise. Applying for a personal loan with us, gives you a chance to avail the best offers and deals from our partner banks and NBFCs.
You can compare interest rates, offers and services on our online portal. This will guide you to make the right choice and choose the right lender for your loan as per your budget.
Our financial experts are always ready to give you the perfect advice. These highly trained professionals in finance know the back and forth of the industry. Our dedicated team of experts will help you at any given time, without charging a dime.
We, at Ruloans understand the value of your documents and keeping them safe and private. Your loan applications are processed electronically with complete privacy and transparency..
Applying for a personal loan balance transfer on Ruloans involves few easy steps:
Step 1: Go to the 'Personal Loan Balance Transfer' page on our website and click on 'Check Your Eligibility' box.
Step 2: Fill out the initial personal and financial information. Once completed, our loan calculator checks your eligibility with its highly efficient algorithm.
Step 3: Our loan calculator presents you a list of banks and NBFCs most suitable for you as per your eligibility criteria. The list will include the name of the financial institutions, interest rates, required document list etc.
Step 4: From the given list, you can choose the financial institute of your choice. You can start filling up the form and upload the required documents. Here, if needed, you can call or mail our experts for advice. The contact details are given on our website.
Step 5: Your application will be sent electronically to the bank you selected. You will be informed about the status of your application via SMS, email or you can track it via website too.
You should invest the same amount of energy and time in the decision of transferring your personal loan balance as you spent in getting the loan. It is an important decision which you should not make in a hurry or just because another lender is better than your current lender. There are various facts to consider before you proceed with the balance transfer. We have mentioned a few of the below:
There are many reasons behind the popularity of taking personal loans. Go for personal loans Transfer by choosing any one or all from below
Banks offer personal loans to customers who fulfill their designed eligibility. The eligibility criteria changes from bank to bank and the profile of the borrower. But there are some commonalities which you have to follow or acquire to get a personal loan from any bank. Banks give personal loans by dividing their customer's profession and their income history. You can refer the following table for a gross understanding of bank's eligibility criteria:
Minimum Loan Amount Approved
Maximum Loan Amount Approved
21 years to 60 years
Rs. 15,000 (Rs. 20,000 in metros)
23 years to 60 years
Turnover of minimum Rs. 24,00,000 (differs for professional and non-professional)
Rs. 75,000 to Rs. 3,00,000
Rs. 15,00,000 to 20,00,000
It is not mandatory to apply for a bank account before taking a loan from it. But if you have an account with the bank, you become eligible for a relationship discount. Some banks also provide you additional services along with relationship discount.
Yes, you can track your application via SMS and email. We also provide the facility to track your application on our website via login menu.
For your loan-related queries, you can call our representative on 1800 2667576 or mail us at email@example.com