Credit & Loans
Personal Loan Balance Transfer Calculator
Calculate savings from transferring your personal loan to a lender offering lower rates.
Formula
New EMI at lower rate vs current personal loan rate
Outstanding, Current Rate %, New Rate %, Months
Results
Enter values above to see results
New EMI at lower rate vs current personal loan rate
Personal loan balance transfer helps reduce your EMI by transferring to a lower interest rate loan. Processing fees, foreclosure charges, and tenure changes affect the actual savings.
Personal loan balance transfer of ₹10 lakh from 14% to 10.5% for 36 months
Input Values
Calculation
Applying the formula with the input values above:
Results
New EMI
₹32,245.00
Interest Savings
₹72,000.00
- 1Enter your current personal loan outstanding balance from the last statement.
- 2Input your current interest rate and remaining tenure in months.
- 3Enter the new personal loan rate offered by another lender.
- 4Add processing fee (1-2% of outstanding) and any foreclosure charges.
- 5Transfer only if the new EMI is significantly lower and you have good credit score.
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