Home Loan Balance Transfer Calculator
Whether moving your home loan to a cheaper lender saves money after fees — with EMI and interest saved.
Updated 30 September 2026 · 17 lenders trackedAbout this calculator
A balance transfer moves your outstanding home loan to another lender at a lower rate. Floating-rate home loans carry no foreclosure charge, so the main costs are the new lender’s processing fee, legal and valuation charges and, in some states, stamp duty on the new mortgage. The saving is largest early in the loan, when most of each EMI is interest.
Home Loan Balance Transfer Calculator
Example savings
| Rate switch | Current EMI | New EMI | Monthly saving | Interest saved (15 yrs) | Net of ₹25,000 cost* |
|---|---|---|---|---|---|
| 9.50% → 8.50% | ₹41,769 | ₹39,390 | ₹2,379 | ₹4,28,293 | ₹4,03,293 |
| 9.00% → 8.00% | ₹40,571 | ₹38,226 | ₹2,345 | ₹4,22,024 | ₹3,97,024 |
| 8.75% → 8.25% | ₹39,978 | ₹38,806 | ₹1,172 | ₹2,11,020 | ₹1,86,020 |
Outstanding ₹40 lakh, 15 years remaining. * Switching cost is illustrative — add the new lender’s processing fee, legal/valuation charges and any stamp duty on the new mortgage in your state.
When a transfer makes sense
- The rate gap is meaningful (often 0.5 percentage points or more) and many years remain.
- Your credit score has improved since you took the loan.
- You are on an old benchmark (MCLR, base rate or an HFC PLR) that has not passed on repo cuts.
- You need a top-up and the new lender offers it at home-loan rates.
Try this first
- Ask your lender to repriceMost lenders offer a switch to their current rate for a conversion fee — no new paperwork.
- Move from MCLR/PLR to repo-linkedBanks must offer existing borrowers an option to move to an external benchmark.
- Compare APRCheck the new lender’s KFS for all fees before applying.
Frequently asked questions
Is there a foreclosure charge on the old loan?
Not on floating-rate loans to individuals — RBI bars it. Fixed-rate loans may carry a charge as per your agreement.
Will a balance transfer hurt my credit score?
A new enquiry and account appear, but closing the old loan normally has little lasting effect if repayments are regular.
For information and comparison only. Loan terms, rates and rules change — confirm with the lender and read the Key Facts Statement before borrowing.