New Delhi, April 10 -- Managing personal loans through EMIs, are key to financial stability and saving borrowed money in the long run. Heavy EMIs can play havoc with your monthly budget, but there are useful tips to ease the burden. To make your financial life simpler, this article talks about some ways to lower the EMIs of your current personal loan.

Shifting your existing loan amount to another lender with a lower interest rate is one of the effective ways to reduce your EMIs. This process, known as a balance transfer, can significantly reduce the total interest that will have to be paid over the lifetime of the loan as well as your monthly instalments.

When you convert your existing personal loan into a flexi hybrid loan, you should ...