About the Balance Transfer Calculator
What is the Balance Transfer Calculator?
A home loan balance transfer moves your outstanding loan to another lender offering a lower interest rate. Even a 0.5–1% cut can save lakhs over the remaining tenure, but processing, legal and stamp charges reduce the benefit.
Enter the outstanding principal, current and new rates, remaining tenure and transfer fees. The calculator shows the old and new EMI, the monthly saving and the net saving after fees.
How to use the Balance Transfer Calculator
- Outstanding Principal (₹) (sample: 30,00,000)
- Current Rate (% per year) (sample: 9.2)
- New Rate (% per year) (sample: 8.3)
- Remaining Tenure (Years) (sample: 18)
- Transfer Fees (₹) (sample: 25,000)
- Press Compare Transfer (results also refresh as you type). The result card shows the Net Savings, along with Monthly EMI Saving, Current EMI, New EMI and Transfer Fees.
Formula used
Net saving = (Interest at current rate − Interest at new rate) − Transfer fees
- Interest = EMI × remaining months − outstanding principal
Before switching, ask your current lender to match the rate — many do, for a small conversion fee.
Worked example
These are the sample values already filled in the calculator above, and the result it returns for them:
| Input | Sample value |
|---|---|
| Outstanding Principal (₹) | 30,00,000 |
| Current Rate (% per year) | 9.2 |
| New Rate (% per year) | 8.3 |
| Remaining Tenure (Years) | 18 |
| Transfer Fees (₹) | 25,000 |
| Result | Value |
|---|---|
| Net Savings After Fees | ₹3,36,422 |
| Monthly EMI Saving | ₹1,673 |
| Current EMI | ₹28,469 |
| New EMI | ₹26,796 |
| Transfer Fees | ₹25,000 |
Tips for using the Balance Transfer Calculator
- A transfer makes most sense early in the loan and when the rate gap is at least 0.5%.
- Include processing fees, legal and valuation charges, and stamp duty on the new mortgage.
- Use the Balance Transfer Break-Even Calculator to see how soon fees are recovered.