General information only; not financial or tax advice. Laws and lender policies change—verify specifics before acting.
Run numbers including fees before deciding
Shifting your personal loan to a new lender at a lower rate can reduce EMI or shorten
tenure. But the benefit must exceed processing, foreclosure, and insurance costs.
Consider a top‑up only if necessary; keep EMI affordable and maintain an emergency buffer.
- Ask new and existing lender for amortisation and closure quotes.
- Prefer tenure reduction to maximise interest saved (if cash flows allow).
- Avoid frequent transfers—each inquiry and new account affects your bureau profile.