Kotak Mahindra Bank Personal Loan Balance Transfer

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Kotak Mahindra Bank Personal Loan Balance
Transfer
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Kotak Bank is the leading private sector bank of
India which offers various loan products
including personal loan. However, in this post,
you will get to know about the Kotak Bank
personal loan balance transfer. In a personal
loan balance transfer process, you can transfer
your personal loan outstanding balance to a new
lender to make the personal loan cheaper and
convenient. If you want to transfer your personal
loan outstanding balance to the Kotak Bank, then
keep reading this post for more information. 
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Eligibility Criteria for Kotak Bank Personal Loan
Balance Transfer

• The applicant should make sure that the lock-in
  period of the existing lender has been served.
• In the existing loan, there should be at least 6
  unpaid EMIs.
• There should not be EMI default in the past 3
  months.
• Only an amount of ? 50,000 or more can be
  considered for a balance transfer.
• Note If you do not fulfill the
  above-mentioned eligibility criteria, your
  personal loan balance transfer application can be
  rejected.

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How to Apply for Kotak Bank Personal Loan Balance
Transfer
Step 1 Make sure you have completed the lock-in
period. Step 2 Look for the best offers
available for a balance transfer.  Step
3 Besides comparing interest rates and
processing fees, dont forget to compare
pre-payment and foreclosure charges. Always
ensure that the new lender is offering a shorter
lock-in period. Step 4 Select the best lender
and apply for a personal loan balance transfer. 
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Thank You
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