Balance transfer calculator
Find out whether moving your loan to a lender with a lower rate is worth it after costs.
₹
₹1 L₹50 Cr
yrs
1 yr30 yrs
%
1%50%
%
1%50%
₹
₹0₹10 L
Year-by-year breakdown
Illustration only. Actual EMI, rate, eligibility and charges are decided by the lender and depend on its credit assessment. Loans are subject to the lender’s approval.
How it works
About the balance transfer calculator
A balance transfer moves your outstanding loan to a new lender at a lower rate. The saving needs to be large enough to cover processing fees, legal and valuation charges, and stamp duty where applicable.
The formula
Net savings = (EMIcurrent − EMInew) × months − costs
Both EMIs are for the same outstanding amount and remaining tenure.
Frequently asked questions
Should I ask my current lender first?
Often, yes. Many lenders will lower your rate for a small conversion fee, which can be cheaper than moving.
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