Personal Loan Balance Transfer @10.99%

Home

Services

Products

Help

Get App

Apply Now

Personal Loan Top Up/Balance Transfer by Kotak Mahindra Bank

Personal Loan Balance Transfer Online

Wondering how you can reduce your loan repayment amount? Kotak’s Personal Loan balance transfer is a smarter way to manage your finances. Shift your existing high-interest loans to us, enjoy lower rates and say yes to bigger savings.

Key Features & Benefits of Personal Loan Balance Transfer

Are you looking to switch your existing loan to a Personal Loan balance transfer online? With Kotak Mahindra Bank, you can significantly save on your repayment amount and enjoy a convenient, swift and 100% transparent Personal Loan balance transfer (BT) process.

Our Personal Loan transfer services come with a wide range of attractive features like competitive interest rates starting from just 10.99% p.a. Imagine using these savings to fund that gadget purchase! Avail our balance transfer loan to enjoy these perks: easy online processes, flexible repayment options, cashback and discount deals. At Kotak, our mission is to make your financial journey smoother and more rewarding.

Eligibility Criteria for Personal Loan Balance Transfer

Opting for a Personal Loan BT with Kotak Mahindra Bank is a step towards efficient financial management. You must meet the following criteria to be eligible. These are set in a way that ensures the loan BT process is smooth and hassle-free. Here are the important Personal Loan eligibility criteria you need to meet for a successful application:

⦁ Age Requirement: You should be between 21 and 60 years old. This age range is considered optimal for financial responsibility and stability.
⦁ Employment Status: You must be a salaried individual with at least one year of working experience at a reputed firm. This is important for our BT loan as it indicates a regular source of income, which is required for loan repayment.
⦁ Educational Qualification: Holding a graduate degree is a prerequisite. Education often correlates with employment stability and financial understanding; hence, you must be at least a graduate to apply.
⦁ Minimum Income: Your monthly income should be a minimum of Rs. 20,000 to avail of a loan transfer facility. This is to ensure that you can comfortably manage your loan repayments without financial strain.
⦁ City of Residence: You should be living in the city where you want to apply for the loan transfer for at least one year.
⦁ Credit History: A good credit history is always a plus for any applicant. It reflects your financial discipline and enhances your eligibility for a balance transfer.

Understanding and meeting these criteria are the first steps towards a successful Personal Loan BT with Kotak Mahindra Bank. Our goal is to make the loan transfer process as straightforward and stress-free as possible for you.

List of Documents Required for Personal Loan Balance Transfer

Applying for a PL Balance Transfer at Kotak Mahindra Bank is a streamlined process, but having proper documents is very important to do this hassle-free. These documents help us assess your eligibility and expedite the online Personal Loan balance transfer process.

You have to submit the following personal loan documents to a personal loan balance transfer facility.

Identity Proof	PAN Card, Aadhaar Card, Passport, Voter's ID/Driving License
Residence Proof	Latest utility bills, Passport, Leave and Licence Agreement
Income Proof	Latest three months' salary slips, bank statements

Many borrowers choose to transfer personal loan to another bank because they are getting a better deal, that is, lucrative interest rates and debt consolidation. Personal loan refinance can help you with an overall debt reduction. The process is quick and simple too.

Process of Personal Loan Balance Transfer

We aim to provide you with a seamless experience, ensuring transferring your loan to benefit from lower interest rates is as easy and efficient as possible. Here's a step-by-step breakdown of the process:

1. Check Eligibility: Use our Personal Loan Balance Transfer Calculator to understand if you are eligible.
2. Document Submission: Compile the documents required for Personal Loan balance transfer.
3. Approval: We review your application promptly.
4. Loan Disbursal: Post-approval, your loan is transferred quickly.

Getting a balance transfer Personal Loan at the lowest interest rate is now easier than ever.

How to Apply For Personal Loan Balance Transfer from Kotak Mahindra Bank?

Applying for a Personal Loan Balance Transfer from Kotak Mahindra Bank is just a text away. Simply send an SMS with 'PLBT' to 5676788. Once we receive your message, a dedicated Kotak representative will get in touch with you to begin the balance transfer process. It's quick, easy, and convenient!

Get Personal Loan near your locations

Personal Loan in Mumbai

Personal Loan in Bangalore

Personal Loan in Chennai

Personal Loan in Hyderabad

Personal Loan in Delhi

Personal Loan in Pune

Personal Loan in Ahmedabad

Personal Loan in Kolkata

Personal Loan in Jaipur

Personal Loan in Coimbatore

Personal Loan in Surat

Personal Loan in Kerala

Personal Loan in Nagpur

Personal Loan in Indore

Get Personal Loan for Different Budgets

Personal Loan for ₹ 50,000

Personal Loan for ₹ 1 Lakh

Personal Loan for ₹ 2 Lakhs

Personal Loan for ₹ 3 Lakhs

Personal Loan for ₹ 4 Lakhs

Personal Loan for ₹ 5 Lakhs

Personal Loan for ₹ 10 Lakhs

Personal Loan for ₹ 15 Lakhs

Personal Loan for ₹ 20 Lakhs

Personal Loan for ₹ 25 Lakhs

Frequently Asked Questions

Who can opt for the balance transfer facility?

Individuals with an ongoing personal or home loan can opt for the loan balance transfer facility. Applicants need to fulfill the required eligibility criteria such as minimum education, income etc. to avail the same.

Can the repayment tenure be changed while opting for the personal loan balance transfer?

When you transfer your existing personal loan balance to another lender, you are able to avail a fresh set of terms and conditions. So, depending upon various loan-related factors and your eligibility, your repayment tenure too can change.

What will be my EMI after transferring my personal loan?

Balance transfer facility will impact your EMI as the interest rate and tenure may change. A reduced interest rate in turn decreases your EMI amount as well. You can check for your EMI amount through Kotak’s personal loan EMI calculator

Can you increase your loan amount by opting for a balance transfer?

Yes, while opting for a personal loan balance transfer you get a chance to avail a top-up loan upto 100% of the amount of your personal loan. For such deals, make sure you have a good credit record.

Do you offer a top-up facility on existing Personal Loans?

Kotak Bank provides personal loan top-up facility to borrowers after a period of 9 months post the loan sanction. Considering various factors like credit history and EMI repayment history, your top-up loan can be approved in 2 days’ period.

How does Personal Loan Balance Transfer Work?

When you apply for a personal loan balance transfer, your lender pays off your existing loans and adds the total amount to your new loan. However, you have to remember that you may incur some prepayment charges if applicable.

What are the interest rates applicable while transferring a personal loan?

Kotak Mahindra Bank’s personal loan interest rate starts from 10.75% per annum. It can go up depending on your financial history. Therefore, it is advisable to plan wisely before opting for a personal loan balance transfer.

View All

People also looked at

Personal Loan for House Renovation

Repair, remodel or renovate your home with Home Renovation Loan.

Personal Loan for Women

Kotak Mahindra Bank presents lucrative personal loans specially designed for women.

Personal Loan for Government Employees

Take care of your emergency needs with a special personal loan, only for government employees.

Personal Loan Balance Transfer