Home Loan Balance Transfer is a facility that allows borrowers to transfer their existing home loan from one lender to another for better terms. The primary motive is to benefit from lower interest rates, reduced EMIs, or improved loan features. This process involves the new lender paying off the outstanding loan amount to the previous lender, after which the borrower continues repayment under the new lender's terms. Borrowers can also opt for a top-up loan during the transfer for additional financial needs. While it offers potential savings, it's important to evaluate processing fees, prepayment charges, and overall cost before opting for a balance transfer.