About this tool
Compare the remaining cost of an existing loan with a transfer scenario using the new rate and switching-cost assumptions. Review the estimated saving against all costs before considering a change of lender.
Calculations and file processing run in this browser tab. The tool does not send working inputs or files to our hosting server.
मुख्य इनपुट और नियंत्रण हिंदी में देखने के लिए ऊपर “🇮🇳 हिंदी में देखें” चुनें। गणना और फ़ाइल प्रोसेसिंग इसी ब्राउज़र टैब में होती है; टूल आपके इनपुट हमारी होस्टिंग पर नहीं भेजता।
Features
- Work with Current Principal Balance (₹); Current Interest Rate (% p.a.); New Bank Offer Rate (% p.a.).
- Review Current EMI; New EMI; Net Total Savings in the result breakdown.
Benefits
- See whether switching costs offset the modelled saving.
- Compare remaining repayment scenarios on the same basis.
Who should use this tool?
- Borrowers reviewing a balance-transfer offer.
- People comparing refinance quotations.
How to use
- Complete the labelled fields for your scenario, including Current Principal Balance (₹); Current Interest Rate (% p.a.); New Bank Offer Rate (% p.a.). Use the units shown beside each field.
- Try the example labelled “₹35L Balance: 9.25% → 8.40% (180 Mos, ₹18k Fee)” if you want to check the workflow first.
- Select Calculate / Run Tool and review Net Balance Transfer Savings (After Fees) and Current EMI; New EMI.
- Check the assumptions and limitations below. Adjust a value to compare scenarios, then copy or download the result you need.
Try these worked examples
| Scenario | Example inputs | Example result |
|---|---|---|
| ₹35L Balance: 9.25% → 8.40% (180 Mos, ₹18k Fee) | Current Principal Balance (₹): 3500000Current Interest Rate (% p.a.): 9.25New Bank Offer Rate (% p.a.): 8.4Remaining Tenure (Months): 180Total Processing + MODT + Legal Fee (₹): 18000 | ₹2,98,926 Net Saved (EMI drops by ₹1,761/mo) |
| ₹20L Balance: 9.00% → 8.65% (60 Mos, ₹15k Fee) | Current Principal Balance (₹): 2000000Current Interest Rate (% p.a.): 9New Bank Offer Rate (% p.a.): 8.65Remaining Tenure (Months): 60Total Processing + MODT + Legal Fee (₹): 15000 | ₹5,334 Net Saved (EMI drops by ₹339/mo) |
Reference and processing
Standard Mortgage Refinance Cost-Benefit Formula · Listed applicability: 2025-2026
Calculations and file processing run in this browser tab. The tool does not send working inputs or files to our hosting server.
FAQs
Should I compare only the new interest rate?
Include the relevant processing, legal, valuation and other switching costs and compare the repayment timing. A lower headline rate alone does not establish an overall saving.
Which inputs do I need for Home Loan Balance Transfer & Refinance Savings Calculator?
Use Current Principal Balance (₹); Current Interest Rate (% p.a.); New Bank Offer Rate (% p.a.); Remaining Tenure (Months), then complete the remaining fields for your scenario. The built-in examples show how those fields fit together.
What should I check before using this result?
Include state-specific MODT (Memorandum of Deposit of Title Deeds) charges (e.g., 0.2%–0.5% in Maharashtra/Karnataka) inside the Switching Cost input. Check current official rules and your own circumstances before making a filing or financial decision.
What happens to the information I enter?
Calculations and file processing run in this browser tab. The tool does not send working inputs or files to our hosting server. Tool favourites save only tool IDs in this browser. Sharing sends the tool link, not your working values or files.