A balance transfer is a type of transaction in which debt is moved from one account to another. For those paying down high-interest debt, such a move can save serious money on interest charges if done strategically. For example, debt that's moved to a new bank loan Proposal with a 0% introductory APR offer on balance transfers could potentially be paid off interest-free.
Balance transfers come with certain costs and limitations, though. Generally, you'll have to pay a balance transfer fee — usually 1% to 5% of the total transferred. And if your balance transfer limit is low, you might not be able to transfer your full balance.
• Salary Certificate (original) from employer.
• Form 16/IT Returns for the past 2 financial years
· IT Returns/Assessment Orders copies of the last 3 years.
· Challans as proof of Advance Income Tax payment.
· Proof of business address for non-salaried individuals.
· IT returns/Assessment Orders copies of the last 3 years.
Resident Indian: Salaried or Self-employed
Vintage of at least six months
Good repayment track record
Repayment Track Record of Existing Loans
You must be a citizen residing in India.
You must be self-employed with at least 4 years of experience in running a business or 3 years of experience as a Doctor/CA.