About the Home Loan Balance Transfer Calculator
A balance transfer moves your home loan to another lender with a lower rate. It saves interest, but fees and charges reduce the benefit.
Enter your outstanding loan, both rates, the remaining years and the switching cost.
Formula used
Interest saved = (current EMI − new EMI) × months. Net saving = interest saved − switching cost.
Frequently asked questions
When is a transfer worth it?
When the saving clearly exceeds the fees, usually with a rate difference of 0.5% or more and many years left.
What costs should I include?
Processing fee, legal and valuation charges, stamp duty on new documents if applicable, and any prepayment charge on the old loan.
Can I ask my current lender to lower the rate?
Yes. Many lenders will match a competing offer for a small fee.