A balance transfer with top-up allows you to shift your existing car loan to a new lender while also borrowing additional funds—often up to 200% of the car's current market value. This helps you restructure the loan with better repayment terms and provides extra cash for personal needs.

Butterfly Fintech offers competitive interest rates, flexible repayment options, and a hassle-free application process. We also cater to both salaried and self-employed individuals, making it easy to switch lenders and access additional funds when you need them.

You stand to get these benefits from Balance Transfer + Top-Up:

• Based on a low rate of interest you can save thousands of rupees during the duration of your loan
• You get the flexibility of shortening your loan term in order to be able to pay off faster
• It is easier to manage multiple loans under one umbrella
• You can potentially improve your credit score with consistent on-time payment
• Access additional funds along with transferring your loan

Eligibility criteria for Balance Transfer + Top-Up is as follows:

• Must be a citizen of India
• Should be minimum 21 years of age if salaried. For those who are self employed, the minimum age requirement is 25 years. Maximum age limit cannot exceed 60 years at the end of the loan term
• Must have an existing car loan with good repayment history
• Provide essential documents pertaining to your current vehicle and loan

The list of documents required for a balance transfer with top-up are as follows:

• Photo ID alongside address proof
• Valid RC (Car Registration Certificate)
• Income proof
• Existing loan account statement and track record
• Vehicle insurance policy

From Butterfly Fintech the interest rate would depend on your creditworthiness, loan amount and loan term. Further competitive rates would be offered as per your profile. Balance transfer loans generally have lower interest rates compared to your existing loan.

At Butterfly Fintech our core objective is total transparency. We disclose all charges upfront. These include the processing fees, stamp duty and prepayment penalties (if applicable).

After having submitted the required documentation with Butterfly Fintech, it would take up to 48 hours for approval. The loan transfer process typically takes 3-5 business days to complete.

The top-up amount depends on your car's current market value and your existing loan balance. In some cases, total loan exposure may go up to 200% of the car's current value, making it a smart option to raise extra capital while switching lenders.