Personal loan balance transfer
Move your personal loan to a lender charging less. The lenders that publish a balance transfer, what they charge, and how to check it's worth it.
6 lenders · last verified 2026-10-21 · how we compare
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Lenders you can apply to through us
| Lender | Balance transfer rate | Fee | Old-loan EMIs needed | Top-up | Interest rate | Apply |
|---|---|---|---|---|---|---|
| Poonawalla Fincorp | From 9.99% a year | Up to 4% of the loan amount + taxes (non-refundable), plus a documentation charge of ₹500 + taxes and stamp duty at actuals | Not published | Not published | From 9.99% a year | Apply nowVia our referral partner. We may earn a commission. |
| lendingplate | 12% to 36% a year | Processing fee 1% to 5% of the loan amount (GST is disclosed separately), plus a 'conversion fee' of 1% to 5% of the amount | Not published | Yes: you can ask for extra funds on top of the transferred balance, processed together and charged the same rate | 12% to 36% a year | Apply nowVia our referral partner. We may earn a commission. |
A balance transfer is a new loan that pays off the old one: you pay the old lender's foreclosure charge and the new lender's fee. From each lender's own pages, in our words; the lender decides on your application. Ranked by the lowest published starting rate. We compare lenders available through our partner; ranking never depends on what we earn.
Big banks and NBFCs (we don't arrange these loans)
| Lender | Balance transfer rate | Fee | Old-loan EMIs needed | Top-up | Interest rate |
|---|---|---|---|---|---|
| HDFC Bank | From 9.99% a year (same starting rate as a new XPRESS Personal Loan; the full range is 9.99% to 24% fixed) | No processing fee on eligible balance transfer cases that come through the bank's own channels, for loans logged in by 31 Oct 2026 (offer note on the product page). Otherwise the standard processing fee of up to ₹6,500 + GST applies. | Not published | Not published | 9.99% to 24% a year |
| ICICI Bank | The balance transfer page's title advertises 10.85% a year; the page body gives no rate range, and the rate depends on the bank's income and credit checks | The balance transfer page says a 'nominal processing fee' and links to the general schedule, where the personal loan processing fee is up to 2% of the loan amount + GST | 12 EMIs paid on the existing loan (ICICI personal loan FAQ) | Yes: after transferring, you can apply for a top-up loan on the transferred ICICI loan | 9.99% to 16.5% a year |
| Kotak | Kotak's personal loan rates start at 10.99% a year; the balance transfer page uses that as its example and gives no separate BT rate range | Not published | Not published | Not published | From 10.99% a year |
| Tata Capital | 10.99% to 33% a year (APR 10.99% to 45%), per the rates table on the balance transfer page | Up to 5% of the loan amount + GST (the page also calls the BT fee 'nominal'); stamp duty at actuals | Not published | Yes: Tata Capital says it offers a top-up loan on your existing loan when you transfer the balance | 10.99% to 33% a year |
From each bank's own pages. We don't arrange loans from these banks; see each bank's page on our site for its rates and EMI.
Related
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Questions people ask
What is a personal loan balance transfer?
A new lender gives you a loan that pays off what you owe on your existing personal loan, usually at a lower rate. You then repay the new lender. Some lenders add a top-up: extra money on top of the amount transferred.
When is a balance transfer worth it?
When the interest you save over the remaining EMIs is clearly more than the costs: the old lender's foreclosure charge, the new processing fee and GST on both. In our example, ₹3,00,000 with 36 EMIs left saves about ₹31,731 by moving from 18% to 12%, while 4% foreclosure and a 2% fee with GST cost about ₹21,240. The fewer EMIs you have left, the less a switch saves.
How many EMIs must I have paid before a balance transfer?
Lenders that publish a rule usually want 6 to 12 EMIs paid on time on the old loan; the table shows each one's rule. Many lenders also don't allow foreclosure in the first few months, so check your old loan's terms too.
Does a balance transfer affect my CIBIL score?
The new lender runs a credit check, which counts as an enquiry, and the old loan shows as closed once it's repaid. Paying the new EMIs on time builds your score as before. Apply to one lender at a time rather than several at once.
Which documents do I need for a balance transfer?
Usually the same KYC and income documents as a new loan, plus a foreclosure or outstanding-balance letter and a repayment statement from your current lender.
See all lenders. CreditParakh is not a bank or lender and doesn't guarantee approval. Approval is at the bank's or lender's discretion.