Balance Transfer Calculator

Calculate savings by transferring your loan to a lower interest rate with our calculator and detailed amortization schedules.

Accurate savings estimates
Month-on-month loan comparison
Visual interest breakdown
Balance Transfer Planning
Current Loan Details
₹
Enter balance (₹1,00,000–₹5,00,00,000).
Remaining principal of your current loan.
%
Enter rate (5–20%).
Annual interest rate of your current loan.
Years
Enter tenure (1–30 years).
Remaining years to repay your current loan.
New Loan Details
%
Enter new rate (5–20%).
Proposed interest rate for the new loan.
Years
Enter new tenure (1–30 years).
Repayment period for the new loan.
₹
Enter fees (₹0–₹5,00,000).
Processing or foreclosure charges for transfer.

Balance Transfer Summary

Current EMI
₹0
New EMI
₹0
Interest Savings
₹0
Net Savings
₹0
How Balance Transfer Works
Evaluate Current Loan

Assess your existing loan’s interest and EMI.

Find Lower Rate

Identify a new loan with better terms.

Transfer & Save

Pay transfer fees and reduce interest costs.

Note: Schedules are displayed for up to 10 years (120 months). Download the CSV for the full schedule.
Current Loan Schedule
MonthOpening Balance (₹)EMI (₹)Interest Paid (₹)Principal Paid (₹)Closing Balance (₹)
New Loan Schedule
MonthOpening Balance (₹)EMI (₹)Interest Paid (₹)Principal Paid (₹)Closing Balance (₹)

What is a Balance Transfer?

A balance transfer involves moving an existing loan to a new lender offering a lower interest rate to reduce interest costs or EMI. It’s common for home, personal, or car loans.

Savings depend on the interest rate difference, remaining tenure, and transfer fees. Consider processing charges and foreclosure penalties before transferring.

Did You Know?

Transferring a ₹10 lakh loan from 12% to 8% for 10 years can save ~₹2,36,000 in interest!

Benefits of Balance Transfer

Reduce your interest costs significantly.

Decrease monthly outflows or maintain EMI with shorter tenure.

Choose a tenure that suits your financial goals.

Frequently Asked Questions

A lower interest rate reduces the total interest paid over the loan tenure, even after accounting for transfer fees.

Yes, transfer fees include processing charges (0.5–2% of loan amount) and foreclosure penalties (if applicable).

Consider transferring if the new interest rate is significantly lower and the remaining tenure is long enough to offset transfer costs.