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Balance Transfer Loan

Balance transfer is a strategic financial move that allows individuals to transfer their existing loans to another lender with more favorable terms. It's a powerful tool to reduce EMI burdens, access additional top-ups, and enjoy a hassle-free loan experience. Orion Finance World simplifies the balance transfer process, offering a wide range of benefits and key features tailored to your financial needs.

Why Choose Orion Finance World for Your Balance Transfer

Service Benefits

Lower EMI

Enjoy reduced monthly instalments, easing your financial burden

Additional Top-ups

Access additional funds for your financial requirements.

Wide Range of Banks

Choose from a diverse selection of banks for your balance transfer.

Hassle-free Documentation

Experience a seamless transfer with minimal paperwork.

Key Features

Competitive Interest Rates

Benefit from attractive interest rates for enhanced savings.

Quick Processing

Experience swift and efficient processing for timely approvals.

Flexible Repayment Options

Choose from a variety of repayment plans suiting your financial capabilities.

Transparent Terms

Enjoy clarity and transparency in all aspects of your balance transfer.

Eligibility Criteria

Salaried Individual:

  • KYC (Photo, Pan Card, Aadhar Card of Applicant & Co-applicant)
  • Latest 6 months’ Salary Slip
  • 12-month bank statement (Reflecting the salary credited) 6 month
  • Current Address Proof (If rented then rent agreement)with latest light bill
  • 2 yrs Form 16 & Return ITR acknowledgement (saral)
  • Company ID Card / Offer Letter / Visiting Card
  • All ongoing loan sanction letter and repayment track record.
  • SOA (Statement of Account) – Home Loan
  • Sale Agreement
  • Occupancy Certificate (OC) & Completion Certificate (CC) (Blue Print)
  • LOD (List of Documents with bank)
  • For closer letter

Self-Employed Individuals:

  • Individual KYC (Photo, Pan, Aadhar Card of all applicant & Co-applicant)
  • Utility Bill of office and home (Electricity Bill / Gas Bill)
  • Office Proof –(Udyam Certificate, Shop Establishment, GST Certificate)
  • Gumasta Licence (Proprietor), Company Pan Card/Partnership Deed (Partnership), Company Pan Card/MOA/AOA/Certificate of Incorporation (Pvt. Ltd.)
  • 1 year GST return (June 2022 to Till Date)
  • Last 3 years ITR of company and individual (Acknowledgement, Computation of Income, Balance Sheet & Profit & Loss Account with schedules, (If applicable 3CD & 3CB)) or 3CA with annexure report with part A & B
  • Last 12 months current account banking
  • Last 12 months saving account banking
  • All ongoing loan sanction letter and repayment track record or repayment schedule
  • Sale Agreement/All Chain Agreement
  • Home loan sanction letter
  • Occupancy Certificate & Completion Certificate & Blue print / share certificate F/B
  • LOD (List of Documents with bank)
  • For closer letter

Calculator

Get an approximate figure for the total monthly instalment payments along with a complete break-up of the loan.

Loan Amount
Loan Duration(Year)
Rate of Interest
Principal Amount

Interest Payable

Total Amount Payable

Your EMI Amount

₹ 1*

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FAQs

1. How quickly can I expect my balance transfer to be processed?

Orion Finance World ensures quick processing, and the timeline may vary based on the complexity of the application. Expect timely updates on the status of your transfer.

Yes, Orion Finance World offers the option for additional top-ups, providing you with extra funds to meet your financial needs.

Self-employed individuals need to submit various documents, including KYC, utility bills, GST certificates, ITR, and details related to their business. The exact list may vary based on the lender's requirements.

Prepayment charges, if applicable, will be communicated transparently as per the loan agreement. It's advisable to review the terms related to prepayment in your loan agreement.
Orion Finance World is committed to simplifying your financial journey with a seamless balance transfer experience. Explore the benefits of transferring your loan to unlock savings and enjoy enhanced flexibility in your financial planning.

The best way to Reduce the EMI is by doing Balance Transfer and no repayment charges.

Yes, but to enjoy the major and full benefits of balance transfer, you should transfer your loan in the initial stage, like in the first or second year.

Yes, you can transfer the loan to another bank, but you need to repay the existing loan first. It only makes sense, if you take a loan from another bank at a lower interest rate. Your CIBIL score, credit history and EMI regularity are highly taken into consideration.

It plays a major role in availing any kind of loan. Credit score defines your creditworthiness and your financial portfolio. It determines your repayment history.

Home loan is a product which assists an individual to buy a house or flat. Home loan balance transfer is a product where you transfer your existing loan from one bank to another which offers a lower rate of interest.

The RBI issued a new set of guidelines known as the Marginal Cost of Funds-based Lending Rate (MCLR). Commercial banks must use the MCLR to set their interest rates. Its main purpose is ensuring that banks pass on the benefit of rate cuts to borrowers.

The right time to do a balance transfer is within the first two years.

No, but if you are paying your emis on time without any skips, then only your credit score will improve.

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