Once in a lifetime, you come across a time when you need to borrow some money to meet your requirements. First option always remains your relatives and friends, but you can't approach them if the amount is huge because it's not right to disturb their finances. Nowadays, second and most preferable option is taking a loan from bank, whether it is a home loan to buy a new house or a personal loan to go on your dream vacation. But why would banks lend you money if they won't get any benefit? Well, they sure get the benefit because you have to repay the loan with interest. Initially, it doesn't hurt but after a while, you wish to not pay that interest or, at least, pay less interest on your loan repayment.
BALANCE TRANSFER is one such option, which helps you to save on your interest rate. Basically, balance transfer is transferring your existing loan to another bank for better interest rate. There are few things about balance transfer, which you should know before applying:
1. Lower interest rate: If you are tired of paying high-interest rate on your existing loan, balance transfer is a saviour for you. Whether it is loan or credit card, you can always opt for balance transfer to save on your interest rate.
2. Offers you get: Because of the increasing competition, banks offer various introductory offers to customers and some of them even offer a zero interest rate for a certain period of time. So it is advisable to search and compare thoroughly to know about the best offers of BALANCE TRANSFER IN INDIA.
3. Consolidate: Balance transfer is great to option to simplify your life because it allows you to consolidate two or more of your existing loans or credit cards for better interest rate. You won't have to make two or three payments in a month because they'll consolidate into one single payment.
Who helps you to know every aspect of balance transfer?
CreditNation is an online financial service provider of all the loans, credit cards and much more. We search and compare thoroughly to inform you about all the offers before you actually take the step. CreditNation provides you transparent information about your application at each stage to keep you updated and we assist you throughout the process to make sure that you don't suffer. Our friendly advisors guide you about all the important aspects of the procedure, so feel free to contact us for any query and we'll be glad to help you.
Source : articlesbase.com
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