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Balance Transfer Calculator

Compare your current loan with a new lender offer

Last Updated: July 2026
Current loan outstanding
Current loan interest rate
New lender's interest rate
Years remaining on current loan
New lender processing fee
Current EMI
—
With existing rate
New EMI
—
After balance transfer
Net Annual Saving
—
After processing fee

Balance Comparison: Current vs After Transfer

Yearly Summary

YearPrincipalInterestTotal PaidBalance

Monthly Amortization Schedule

MonthEMIPrincipalInterestBalance

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What Is a Balance Transfer Calculator?

A Balance Transfer Calculator compares your existing loan with a new lender's offer to determine if switching saves money. It factors in the interest rate difference, processing fees, and remaining tenure to show your net savings.

Balance transfers are most beneficial when interest rates have fallen since you took the original loan, or when you find a significantly better offer. Even a 0.5% rate reduction can save lakhs over the remaining tenure.

Frequently Asked Questions

When should I do a balance transfer?
When the new rate is at least 0.5-1% lower than your current rate, and the savings exceed the transfer costs (processing fee, foreclosure charges). Best done early in the loan tenure when interest component is high.
What are the costs of balance transfer?
Processing fee (0.5-1% of outstanding), foreclosure charges from old lender (2-4% for fixed rate, zero for floating), CIBIL check, legal/valuation charges for secured loans. Total cost can be ₹10,000-50,000+
Can I do a balance transfer for any loan?
Yes, for home loans, car loans, personal loans, and business loans. Floating-rate loans have zero foreclosure penalty. Fixed-rate loans may charge 2-4%. Check both lenders' terms before transferring.
How much rate difference makes transfer worthwhile?
Generally, a 0.5%+ rate reduction makes transfer worthwhile for large outstanding amounts. For ₹25L outstanding with 15 years remaining, even 0.25% reduction saves ₹75,000+. Use this calculator to compare exact numbers.

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