Key aspects to evaluate before prepaying include prepayment penalties, actual savings based on the reducing balance method, the stage of loan repayment, and the prevailing interest rate.
The blog explains the concept and benefits of a Personal Loan Balance Transfer, which involves moving your existing loan to a new lender offering a lower interest rate. This can help reduce your EMIs, extend your repayment tenure, access additional funds, and potentially improve your overall loan service experience.
