Loan Refinance / Balance Transfer Calculator
Should you transfer your home loan to a lower interest rate? Calculate exact savings, transfer costs, and break-even timeline.
Net Savings Analysis Break-even Timeline Transfer Cost
Net Savings ₹5,70,394 Over remaining loan period
Current EMI ₹33,877 At 9.5%
New EMI ₹31,155 At 8.25%
Monthly Savings ₹2,722 Per month
Transfer Cost ₹17,500 Fee + prepayment penalty
Break-even 7 mo Time to recoup transfer cost
Cumulative Savings Over Time
Refinancing Tips
- Refinancing makes the most sense in the first half of your loan tenure when most EMI goes to interest.
- A rate difference of at least 0.5% typically makes a transfer worthwhile for loans above ₹30L.
- Since 2012, RBI prohibits floating-rate home loan prepayment penalties — confirm with your bank.
- Check for processing fees at the new bank in addition to transfer fees at the old one.
- Consider negotiating a rate reduction with your current lender before initiating a transfer.
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Net Savings ₹5,70,394