Loan Balance Transfer Calculator
Compare your existing loan with a potential new lender and estimate your EMI reduction, interest savings, transfer costs and net savings.
Loan Transfer Details
Compare your existing loan with a potential balance-transfer loan.
Proposed New Loan
Enter the rate and tenure offered by the new lender.
Include foreclosure, documentation, legal, valuation or other applicable charges if relevant.
Balance Transfer Analysis
Compare your existing loan with a new lender
Estimated Net Saving
₹40,331
Gross interest saving minus estimated transfer costs.
Current EMI
₹32,948
New EMI
₹31,983
Gross Interest Saving
₹45,331
Transfer Costs
₹5,000
EMI Comparison
Existing EMI
₹32,948
New EMI
₹31,983
EMI Reduction
₹964
Interest Comparison
Break-even Analysis
Estimated break-even period
6 months
This estimates how long it would take for the monthly EMI reduction to offset the transfer costs.
This calculator provides an illustrative estimate using a standard reducing-balance loan calculation. Actual interest rates, EMI amounts, processing fees, foreclosure charges, taxes, documentation costs and other terms vary by lender and loan product.
How does a loan balance transfer work?
A loan balance transfer generally involves moving the outstanding balance of an existing loan to another lender, usually with the objective of obtaining different interest-rate or repayment terms.
The potential benefit depends on several factors, including the outstanding balance, remaining tenure, interest-rate difference, processing fees and other costs associated with transferring the loan.
A lower interest rate does not automatically mean a lower overall cost. Extending the new loan tenure can increase the total interest paid even when the new EMI is lower.
Important
The results shown by this calculator are estimates for comparison purposes only. Actual lender rates, eligibility, processing charges, foreclosure charges, taxes and other loan terms may differ.