Balance Transfer Savings
What moving your existing loan to a lower rate saves over the remaining tenure, after transfer costs.
Your numbers
Result
Net saving over the remaining tenure₹0
Current EMI—
New EMI—
Interest saved (before costs)—
A transfer pays off when the interest saved comfortably beats the costs.
How it works
Understanding balance transfer
A balance transfer moves your outstanding loan to another lender at a lower rate. The saving is the interest you avoid over the remaining tenure, minus the new lender's processing fee and any foreclosure charge from the old one. It makes sense when the rate gap is meaningful and plenty of tenure is left.
When most of the tenure has passed (little interest is left to save) or when fees eat the saving. Run the numbers with the fees included, as this tool does.
Many lenders offer a top-up loan on transfer at the new rate — useful if you need extra funds.