A balance transfer is when you move your loan to another bank that’s offering a lower rate. Rate renegotiation (repricing) is when you ask your current bank to match the market. Same goal—smaller EMI and less interest—two different routes.

When a balance transfer is worth the hassle

If the new bank is cheaper by 0.5-1 percent (or more) and you’ve got a long runway left—say more than 10 years—switching can shave off a big chunk of interest. Yes, there’s paperwork and a processing fee, maybe a valuation charge. But on a long tenure, the math usually lands in your favour.

When a quick renegotiation is the smarter move

If the gap is tiny or you’re already halfway through the loan, don’t overthink it. Call your bank and ask for a reprice. They’ll likely charge a one-time fee and drop your

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