A lower rate elsewhere looks tempting, but switching has costs. See your real saving after fees and how many months it takes to break even.
Fill in the details and click Calculate to see your results.
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A balance transfer moves your outstanding home loan to another lender at a lower rate. You save interest every month, but pay a processing fee, legal and valuation charges and sometimes stamp duty.
As a rule of thumb, a rate cut of 0.5% or more with 10+ years left is usually worth it. This calculator gives the exact net saving.
| Outstanding Balance | ₹2,500,000 |
| Years Left | 15 yrs |
| Current Rate | 9.25% |
| New Lender's Rate | 8.25% |
| Transfer Costs | ₹15,000 |
| Net saving after fees | ₹2,50,734 |
| New EMI | ₹24,254 (saves ₹1,476 a month) |
| Interest at current rate | ₹21,31,365 |
| Interest at new rate | ₹18,65,632 |
| Transfer costs | ₹15,000 |
| Break-even | after 11 EMIs (11 mo) |
| Verdict | Worth switching |
₹24,254 (saves ₹1,476 a month); ₹21,31,365.
Try this example →When the net saving after all costs is clearly positive — typically a rate difference of at least 0.25–0.5% with many years left on the loan.
Yes. Many banks will reduce your rate (a 'conversion' or 'repricing') for a small fee, which may beat switching.
A new loan enquiry causes a small, temporary dip; closing the old loan on time and paying the new one is positive.