Balance Transfer of Business Loan

Balance Transfer of Business Loan

Business Loan
Loan Amount
  • Up To 2.99 Lacs
  • 3 to 9.99 Lacs
  • 10 to 15 lacs
  • 15 lacs Plus
Rate Of Interest
  • 18.99%
  • 16.99%
  • 15.99%
  • 15.49%
Processing Fees
  • 1.49%
  • 1.25%
  • 1.25%
  • 1.25%

The above rates mentioned are only for limited period. These rates may vary from bank to bank and rates would be solely decided at the discretion of the bank.


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Unsecured Business Loan is similar to a personal loan, but is specifically designed for business use. With Unsecured Business Loan, you borrow a certain sum of money over a period of years, and the interest rate and monthly payments are fixed over the term. Unsecured Business Loan can prove vital when managing the demands of employees, clients and cash flow for a smaller business. With some types of Unsecured Business Loan, you can set out how much you want to borrow and for how long. As a customer you need to decide when to go for a change and enjoy the benefits of Balance Transfer of Business Loan

Balance Transfer of Business Loan is a loan where you can transfer your multiple loans (up to 3 loans) to a single loan under one bank/institute for better rate of interest and can avail additional loan amount for your business purpose. Balance transfer is a very lucrative facility for individuals who have taken a loan, but surprisingly very few avail of it. The problem is very few are aware of it. Every individual that has taken a Business Loan should opt for a balance transfer at least once during the tenure of the loan. Balance transfer of Business Loan reduces you interest rates and finally enables you to save on the interest you have to pay. Balance transfer of Business Loan is a great facility that lets you reexamine your debt, make changes to it and also tweak it according to your requirements.

Balance transfer of Business Loan happens when the entire unpaid principal loan amount is transferred to another bank for a lower rate of interest. The bank that had originally extended the loan to you gets the unpaid amount and you have to, in turn, now pay your EMIs at the new rate to the bank that has taken up the loan. Most of the private bank/NBFC's has a facility for Balance transfer of Business Loan and if you have been paying your EMIs regularly, there is often no problem associated with it.

There is, however, a need to carry out a cost benefit analysis. Balance transfer of Business Loan will depend on the difference between the interest rates offered by the two banks, the amount of the loan left unpaid and the tenure remaining. If the unpaid amount is low or if only a few years remain in terms of tenure, Balance Transfer of Business Loan may not be ideal. This is also because banks often levy a processing fee for balance transfer and in the end it may not be all that beneficial.

WE at Creative Finserve encourage borrowers to maintain a healthy credit profile by paying all their loan EMI's regularly. Taking a loan means a long term obligation to repay it and hence, we recommend you do a thorough research or Creative Finserve will guide you in all aspects and give you a personalized solution through its professional team and dedicated service.

  • Our expertise to get u the right Banks / Institute to fulfill your requirement
  • Loan repayment in flexible tenures from 12 months up to 60 months.
  • No collateral/ guarantor / security required
  • Speedy approvals
  • Attractive Rate of Interest
  • Special Interest Rate for professional Doctors/ CA & Architect.
  • Minimum/Hassle free Documentation.
  • Funds available for business expansion, working capital, child's education or home renovation
  • Convenience of doorstep service

There are several steps in the Balance Transfer & top up of Business Loan process. Here are the steps in brief:

  • Application form & Document submission
  • Cibil report check
  • Residence verfication
  • Office verfication
  • Eligibility calculation
  • Personal Discussion
  • Credit decision
  • Signing of agreements and submitting post-dated cheques
  • Disbursement

SELF EMPLOYED INDIVIDUAL

  • An Indian Resident.
  • You should be in business for a minimum of 3 years.
  • You should be self employed Minimum 24 to maximum 65 years of age.
  • Your current place of residence should be occupied for a minimum of 3 years in the city.
  • You should have residence or office owned.

SELF EMPLOYED PROFESSIONAL

  • An Indian Resident.
  • You should be Practicing Doctor or CA business for a minimum of 3 years.
  • You should be self employed Minimum 24 to maximum 65 years of age.
  • Your current place of residence should be occupied for a minimum of 3 years in the city.
  • You should have residence or office owned.

To qualify for a Balance Transfer of Business Loan, most of the lending institutions in India require you to be:

Documents Self Employed Properitorship Firm Self Employed Partnership Firm Self Employed Pvt Ltd / Ltd
Application Form With Photograph Duly Signed Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Clear Pancard Copy, (Applicant & Co-Applicant) Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Latest Residence proof (Applicant & Co-Applicant) Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Latest Office Proof (Applicant & Co-Applicant) Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Last 12 Months Bank Statements Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
All Loan Sanction Letter Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Latest Foreclosure Letter from Current Bank / Institution Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Business Profile Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Proof Of Business Existence (Gumasta License , Sales Tax Certificate , Form 26AS) Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Last 3 Years Income Tax Returns With Computation Of Income Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Last 3 Years CA Certified / Audited Balance Sheet And Profit & Loss Account Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
MOA /AOA Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Partnership Deed Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Company Pancard Clear Copy Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Shareholding Pattern On Letterhead Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
Sundry Debtor & Creditor List Last 1year Balance Transfer of Business Loan Balance Transfer of Business Loan Balance Transfer of Business Loan
What is the need for a Balance Transfer & top up of Business Loan?

Balance Transfer of Business Loan is a loan where you can transfer your multiple loans (up to 3 loans) to a single loan under one bank/institute for better rate of interest and can avail additional loan amount for your business purpose. Balance transfer is a very lucrative facility for individuals who have taken a loan, but surprisingly very few avail of it.

Almost all the Banks/NBFC rules says that you are eligible for a top up loan only after 6-12 months of paying off the earlier loan regularly. You can avail top up loan with your existing track record for your urgent requirement. It may be for business expansion or for personal need. You need to have good repayment record to avail a top up loan. The final decision is always with the loan provider. The Bank/NBFC will also investigate with you the purpose of taking the top up loan.

Who are eligible for Balance Transfer & top up of Business Loan?

Customers who have availed a loan and are looking for better rate of interest are eligible for Balance Transfer of Loan. But the most important factor is that the customer must have good track record of the existing loan for top up loan. The final decision is always with the loan provider.

Who can avail a Balance Transfer & top up of Business Loan?

• Self Employed Individuals/Professionals

• Proprietorship Firms

• Partnership Firms

• Private Limited Companies

What all document are required for applying for a Balance Transfer & top up of Business Loan?

• Identity Proof

• Address Proof Bank Statement (Latest 12 months)

• Last 3 yrs ITR along with other relevant docs like Balance Sheet, P&L, Audit Report

• Business proof (Gumastha licensce)

What are the stages in availing a Balance Transfer & top up of Business Loan?

• Application

• Processing

• Documentation

• Sanctioning of the Loan

• Disbursement

What are the loan tenure options for Balance Transfer & top up of Business Loan?
You can repay your loan over a period of 12 to 36 months
How much amount can I borrow in Business Loan?
It mainly depends on your financial profile, credit reputation, the purpose of borrowing the loan and your loan repayment ability. Lenders evaluate these factors to consider what the amount of a Business Loan should be.
How to apply for and get a Balance Transfer & top up of Business Loan?
CFPL Give you personalize solution & helps you to meet your financial requirement.
What is the quantum of finance one can avail in Business Loan?
It will vary from bank to bank & also depends upon or borrowing capacity.
How is the interest charged/calculated in Business Loan?
Interest is calculated on a monthly reducing balance basis.
What security/collateral do I have to provide for Business Loan?
No security/collateral is required in Business Loan.
Will an existing loan affect my application for a Balance Transfer & top up of Business Loan?
Depends upon a financial & credit history.
How do I repay the Business Loan?
The loan can be repaid through post dated cheques (EMI) or ECS (Electronic Clearing System)
Can I pre-pay my Business Loan?
Yes you can pre-pay the Business Loan after repaying a min. of 6 EMI's. Foreclosure charges would be applicable as per the banks term and condition.
How much time does it take for the disbursement of the Business Loan?
The processing of the loans usually takes Approx 15 working days after all the documents are submitted.
Should I apply Balance Transfer of Business Loan online?

There is no process for applying online Balance Transfer of Business Loan unless and until you have a relationship with the same bank. Mandatorily you need to submit relevant documents and sign the application form to complete the formalities. Creative Finserve gives you a personalized solution for Business Loan, so why to confuse yourself with online approach if you can get better rate of interest and maximum eligibility through Creative Finserve.

Who all can apply Balance Transfer of Business Loan online?

Customers having online banking can approach their respective banks for Balance Transfer of Business Loan through net banking and get information about Balance Transfer of Business Loan. Appling online Balance Transfer of Business Loan will give you information of your bank, and if you apply through us you will get information about other banks for better rate of interest, foreclosure charges, tenure and processing fees.

What are the drawbacks on applying for Balance Transfer of Business Loan online?

Appling online Balance Transfer of Business Loan will give you information about particular bank. And if you apply through us our professionals will get exciting offers from other banks for better rate of interest, foreclosure charges, tenure and processing fees.

What is Balance Transfer of Business Loan eligibility calculator?

Balance Transfer of Business Loan eligibility calculator is a mechanism where you can calculate your Balance Transfer of Business Loan eligibility by sharing your information such as your income and existing loan. This loan eligibility calculator cannot get you the exact loan amount so we recommend you to get in touch with our professional team to serve you better.

How to get best rate of interest in Balance Transfer of Business Loan?

Rather than hunting in the market or approaching unprofessional consultants for better offers, give your few details and upload your few documents and get a personalized solution for your Balance Transfer of Business Loan for better rate of interest in few minutes from our professional team.

How will I get best rate of interest for Business Loan?

Since Creative Finserve has immense experience and tied up with all multinational and private banks, we would be able to guide you and give you the best deal available in Business Loan.

What is Balance Transfer of Business Loan EMI calculator?

Balance Transfer of Business Loan EMI calculator is a process where you will be able to come to know the exact Balance Transfer of Business Loan EMI (installments) which includes principal and interest component according to your requirements.

How can I get personalized solution through Creative Finserve for my Balance Transfer of Business Loan?

We professional at Creative Finserve puts our best effort to give you a complete personalized solution. We take the pain of coordinating with various banks for you to give the best offer and service available in Business Loan.

How to choose the right bank for my Balance Transfer of Business Loan?

Choosing a right bank for Balance Transfer of Business Loan is a cumbersome process, Creative Finserve guides you properly according to your requirements and gives you a personalize solution for your Business Loan.

How I will come to know whether my Balance Transfer of Business Loan is sanctioned or rejected?

Once your Balance Transfer of Business Loan is sanctioned or rejected you will get a sms alert or call from the bank and if you have applied through us we will coordinate with the respective banks and inform you.

Is balance transfer of Balance Transfer of Business Loan suggested?

It depends upon the current rate of interest of your existing Business Loan as against the rate of interest available in the market. We recommend you to compare both the offers in our loan comparison calculator or else call us to get a personalized solution for your Business Loan.

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