Loan EMI
Home Loan Balance Transfer Calculator
Compare your current home loan interest cost with offers from other lenders for transfer.
Formula
New EMI at lower rate vs current rate
Outstanding, Current Rate %, New Rate %, Months
Results
Enter values above to see results
New EMI at lower rate vs current rate
Home loan balance transfer allows you to transfer your outstanding home loan to another lender offering a lower rate. The savings from reduced EMI minus transfer costs determine if the transfer is beneficial.
Home loan balance transfer of ₹30 lakh from 9.5% to 8.5% for 180 months
Input Values
Calculation
Applying the formula with the input values above:
Results
New EMI
₹28,916.00
Interest Savings
₹6,50,000.00
- 1Enter your current outstanding home loan balance from the latest statement.
- 2Input your current interest rate and remaining tenure.
- 3Enter the new interest rate offered by the transferring bank.
- 4Include processing fee (0.5-1% of outstanding) and legal/valuation costs.
- 5A rate difference of 0.5%+ justifies transfer if you have 10+ years remaining.
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