Personal loans: new loans, balance transfers and top-ups
Explore a new personal loan, review an existing loan for a balance transfer, or ask about additional funds through a top-up. Begin with the repayment you can sustain, then compare the full cost and conditions of any actual offer.
Choose the decision you are making
New loan
A new personal loan adds a fresh repayment obligation. Define the expense, the amount genuinely needed and the monthly budget before comparing the headline rate or maximum available limit.
Balance transfer
A personal loan balance transfer replaces an existing loan with a new lender's facility, subject to that lender's assessment. The decision should compare the remaining cost of your current loan with the full cost of the proposed replacement.
Top-up / additional funds
A personal loan top-up is additional borrowing connected with an existing borrowing relationship or refinancing arrangement, depending on the lender. It creates extra debt even when the combined monthly payment appears manageable.
Start with your own repayment picture
Personal borrowing should fit your regular take-home income and existing household commitments. Salary, self-employment income, current EMIs, repayment history and documentation can all affect a lender's assessment. A displayed calculation is an estimate, not an eligibility result.
Prepare a useful enquiry
- Identity and address information requested by the lender
- Income records appropriate to your employment type
- Bank statements and a complete list of current EMIs
- Existing sanction letter, repayment schedule and foreclosure statement for a transfer
Credswitch currently provides illustrative calculators and loan enquiry capture. It does not sanction or disburse loans, display live lender offers or run credit checks through this enquiry. Approval, product availability, rates and terms are decided by the lender after a separate assessment.