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Loan balance transfer is an option to transfer your loan from one bank to another to take advantage of the lower interest rate and get a top up loan. The two primary reasons to take l loan balance transfer are to save interest and also get additional loan on your existing loan amount. The decision to transfer loan to another bank is dependent on how much cost you are paying on your existing loan. For example if you have taken a personal loan from HDFC bank and find that SBI is offering a lower interest rate then personal loan balance transfer to sbi is a better option. Here we explained How to Transfer Bank Loan to Other Bank , process of loan transfer and Things To Consider Before A Loan Transfer