Can I transfer my existing car loan to another person

Hi,

          I have a purchased i10 2 years ago with loan taken from HDFC bank. Can I transfer my balance bank loan to my sisters name without change in car ownership i.e. the car would be still on my name even after the loan is transfered into my sisters name. I just want to transfer balance loan amount.

Can anyone suggest me.

regards,

Raghu

That is not possible. Instead, take post dated cheques or do an ECS so that the money will come into your account directly and get paid. If your intention is do increase your credibility factor in CIBIL for applying for another loan, then your sister will have to take a loan or pay amount in full which you would go and pay at the bank and get your car cleared. Your sister can then continue to pay the EMi and will also have the car on her name.