Srinagar, Sept. 3 -- A home loan is usually a long-term financial commitment, and borrowing conditions can change during the repayment period. Interest rates may move, income can improve, and borrowers may find that another lender offers terms better suited to their current financial position.

A home loan balance transfer allows an existing borrower to move the outstanding loan amount to another lender. However, the decision should depend on potential savings after considering transfer costs, remaining tenure, repayment history, and the new loan terms. Switching simply because another rate appears lower may not always create meaningful financial benefits.

Let's look at when a transfer may make sense and what borrowers should review befo...