Home loan balance transfer calculator
Moving Rs 40,00,000 with 15 years left from 9.5% to 8.5% saves about Rs 4,03,293 after Rs 25,000 in fees. Enter your balance, months left, rates and fees.
Results update as you type. Nothing you enter is stored.
How it works
A balance transfer repays your loan with a new loan from another lender at a lower rate. It saves interest only if the rate gap over the remaining months is larger than the fees, stamp duty and other one-time costs. The calculator compares total interest on the same balance and months at both rates.
Formula
Saving = (old EMI - new EMI) x months left - fees
Frequently asked questions
When is a home loan balance transfer worth it?
When the interest saved over the remaining tenure is clearly larger than all fees and charges.
Can I ask my current lender for a lower rate instead?
Many lenders offer a conversion to a lower rate for a fee; compare that fee with a transfer.
Does a balance transfer change the tenure?
Not in this calculation; it keeps the months left the same.
Related
This tool is for information only and is not investment, tax or legal advice. Results depend on the inputs and assumptions you enter; check important figures with the official source or a qualified professional.