Balance Transfer Calculator
Calculate your net interest savings, monthly EMI reduction, and break-even timeline when transferring your loan.
Current Loan Details
9.5%
15 Years
New Loan Details
8%
15 Years
1%
Balance Transfer Benefits
New Monthly EMI
₹0
Save ₹0 / month
Monthly Savings₹0
Processing Fee₹0
Break-even Period0 months
Total Interest (Old Loan)₹0
Total Interest (New Loan)₹0
Interest Savings₹0
How This Calculator Works
Enter your current loan outstanding, current interest rate, remaining tenure, and the new lender offered rate. The calculator compares total interest under both scenarios, shows monthly EMI savings, and calculates the break-even period after accounting for transfer costs.
Key Components
- Current Balance: Unpaid loan principal.
- Current Interest Rate: Rate charged by existing lender.
- New Interest Rate: Lower rate offered by new bank.
- Processing Fee: One-time transfer charges.
- Break-Even Period: Months to recover transfer costs.
How It Works
The calculator considers various factors to determine net savings:
- Old Interest: (Current EMI × Remaining Months) - Balance
- New Interest: (New EMI × New Months) - Balance
- Net Savings: Old Interest - New Interest - Processing Fee