Loan Balance Transfer Calculator
Transferring your loan balance to a lender with a lower interest rate can save lakhs in interest — but a processing fee applies. This calculator compares the total payable on your current loan vs a new one and shows the net saving after the transfer fee.
🚀 Open the Loan Balance Transfer Calculator →
Formula
For each rate, EMI and total payable = EMI × remaining months. Net saving = (old total − new total) − processing fee.
Example
₹20,00,000 over 180 months at 9.5% vs 8.5% with a 0.5% fee can net well over a lakh in savings.
Frequently Asked Questions
When is a balance transfer worth it?
Usually when the rate drop is at least 0.5%–1% and you have significant tenure left, so interest savings outweigh the processing fee.
What costs are involved in a balance transfer?
A processing fee (typically 0.35%–1% of the outstanding), plus possible legal/valuation charges on secured loans.
Related calculators
- EMI Calculator — Loan EMI, Interest & Schedule
- Home Loan EMI Calculator (2026 rates)
- Loan Prepayment Calculator — Interest & Tenure Saved
EMI Mitra is a 100% free, on-device personal-finance toolkit for India. No signup, no data leaves your browser. Explore all calculators →