Balance Transfer Calculator

Already paying a high interest rate on your loan? See how much you could save every month by transferring your loan to a lower rate.

Outstanding loan amount₹5,00,000

Current interest rate (p.a.)12.0%

New interest rate (p.a.)8.5%

Remaining tenure36 mo

Monthly savings

₹823

Current EMI

₹16,607

New EMI

₹15,784

Total savings over tenure

₹29,628

Apply for balance transfer

Indicative calculation. Actual savings depend on processing fees, prepayment penalties, and the new lender's terms.

What is a balance transfer?

A balance transfer moves your existing loan from one lender to another offering a lower interest rate. You keep the same loan amount and tenure but pay less each month.

How savings are calculated

The calculator applies the standard EMI formula twice: once at your current rate and once at the new rate, using the same outstanding amount and remaining tenure. Monthly saving is the difference between the two EMIs. Total saving multiplies that by the months left.

This does not account for processing fees, prepayment penalties, or changes in tenure. Ask your new lender for a full cost sheet before you decide.

When does it make sense?

Rate difference of 0.5% or more
More than 2 years remaining on the loan
High outstanding amount (5 lakh and above)
Processing fee is lower than projected savings

Things to consider

Processing fees (usually 0.5 to 1% of outstanding)
Prepayment penalty from current lender
New loan documentation and KYC requirements
Impact on credit score (temporary)

Browse loan products →

Personal Loan Business Loan Home Loan EMI Calculator Eligibility Checker Apply now

Ready to apply? Apply now · WhatsApp us

Balance Transfer Calculator

Related

Balance Transfer Calculator

Related