The DCU Balance Transfer is an option that enables students to transfer their balance from other financial institutions of higher learning in India to their preferred educational institute in India. However, students will need to look for educational institutions in India that are eligible to receive the transfer of funds. Students who have already completed their studies in their respective colleges or universities of India and have yet not transferred their post-study balances to their favorite educational institutions in India can also opt for this option. In addition, students who have yet to start the course they wish to pursue will need to look for educational institutions in India that are eligible to receive the balance transfers.
However, the selection of educational institutions that can receive the DCU balance transfer is not easy as there are many restrictions that students have to abide by. The first thing that a prospective student has to do is to look for colleges and universities in India that are eligible to receive the balance transfers. This means that the prospective students should check out all the options available to them and ensure that the college they wish to study in India is eligible for the balance transfers.
The second step involves research on the eligibility criteria of the different institutions. Students can access the details regarding the eligibility criteria of the different institutions through their respective universities' website. Enquiring about the eligibility criteria of these institutions is also a pre-requisite for the DCU balance transfer. For students who have yet to start their higher studies, they should find out whether the balance transfer would be applicable to them. Those who have already started their higher studies may opt for this option or may choose to maintain their existing academic records at the college they have already enrolled in.
The third step entails contacting the concerned bank or credit union and finding out the current rate of interest being offered to the DCU balance transfer. This will help students evaluate the interest rates offered by different educational institutions. Those institutions that offer better interest rates should be preferred over other educational institutions. Those who wish to continue with their existing educational plans at the college of their choice even after the transfer can take the advantage of the zero percent balance transfer credit.
The fourth and final step involves evaluating the credit worthiness of the student. This is an important factor because if the prospective student's credit history does not qualify him or her for the DCU balance transfer credit, then the student will not be able to obtain the balance transfers. Most students have good credit records but this does not always qualify them for the balance transfers. It is therefore important for prospective students to keep in mind the credit ratings as well as the overall financial worthiness before deciding on the best educational institution that offers them the best rates of interest for the DCU transfer credit.
The transfer terms also vary depending on the type of credit that the student possesses. There are some credit types that require specific balance transfers terms such as prepaid student credit cards. Others do not require specific balances or terms. Students should compare the available credit terms before deciding on the best educational institution that offers the best rate of interest for the DCU balance transfer.
The number of months prior to the transfer is also important. A six month grace period is one of the most common terms for the balance transfer. This means that there will be no penalty for the early or late payment of the balance. In case of any default on the payments, it is possible to incur penalties in excess of thirty days. Students who wish to avoid paying penalties may choose to make the monthly payments in advance so that the balance will be transferred to the new credit account prior to the due date of the payment.
A number of financial institutions are available that provide the services of making the DCU balance transfer. Most of them offer the services online so that the prospective student can apply from the comfort of their homes. The benefit of applying online is that you have the option of comparing the various options available and choosing the best one for your requirements.