Home Loan Balance Transfer Calculator
How much you save by moving your home loan to a lender with a lower rate, after fees.
Result
How to use
- 1
Enter your outstanding loan, current rate and remaining tenure.
- 2
Enter the new lender's rate, processing fee and other charges.
- 3
See your new EMI, interest saved, net savings after fees and the break-even time.
Questions
When is a balance transfer worth it?
Usually when the new rate is at least 0.5% lower and a good part of the tenure is left. In the early years most of the EMI is interest, so a lower rate saves much more.
Are there prepayment or foreclosure charges?
No. RBI does not allow banks and NBFCs to charge foreclosure or prepayment penalties on floating-rate home loans taken by individuals, so moving such a loan costs only the new lender's fees and charges.
Should I ask my current bank first?
Yes. Many banks will lower your rate for a small conversion fee if you ask, which avoids paperwork, legal and valuation charges.
About this Balance Transfer tool
Home Loan Balance Transfer Calculator — How much you save by moving your home loan to a lender with a lower rate, after fees. It is one of 200 free tools on namasivayam.in, made by software engineer Namasivayam Vadivelan for everyday use in India.
Everything is calculated instantly in your browser: nothing you type or upload is sent to any server, there is no sign-up, and it works on mobile and desktop. Enter your outstanding loan, current rate and remaining tenure.
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Results are estimates to help you plan. They are not financial, tax or medical advice.