Home Loan Balance Transfer Calculator
Find out if transferring your home loan balance to another bank with a lower interest rate will save you money.
Current Loan Details
New Loan Details
Compare Best Balance Transfer Offers
Transfer your home loan outstanding balance to top banks starting from 8.35% p.a. Secure low processing fees and instant approvals.
Calculation Methodology & Rules
The Home Loan Balance Transfer Calculator evaluates if refinancing your outstanding loan with another bank is financially beneficial. It subtracts upfront switching costs from your interest savings to determine the true net savings. Read our detailed framework: Is a Balance Transfer Actually Worth It?.
Decision Formula
- Interest Savings:
Interest Payable (Old Loan) − Interest Payable (New Loan). - Switching Cost:
Processing Fees + Other Refinancing Fees. - Net Savings:
Interest Savings − Switching Cost. - Breakeven months:
Switching Cost / Monthly EMI Saving.
Frequently Asked Questions
A balance transfer is worth it when the total interest savings from the lower rate exceed the switching costs (processing fees, stamp duty, doc charges). This tool computes the exact net saving to provide a clear verdict.
Common charges include processing fees by the new bank (0.25% to 1% of the loan amount), MODT/stamp duty charges, legal and valuation fees, and document retrieval fees from the old bank.
The breakeven period is the number of months of lower EMIs required to recover the upfront switching cost. A shorter breakeven period (e.g. less than 12-18 months) makes the transfer highly recommended.