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Balance Transfer Savings Calculator

See what you save by moving your loan to a lower rate — after fees — when you break even, and whether repricing with your current lender is the better deal.

Your loan

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What you still owe today — see your latest loan statement

9.25%
15 yr · 180 mo
8.35%

After switching, I want

Switching costs

Other costs: legal, valuation and stamp duty on the new mortgage.

Current EMI

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New EMI

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Net saving

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Break-even

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The report opens in your browser's print view — choose "Save as PDF".

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Disclaimer: This calculator is for educational and illustrative purposes only. Actual savings depend on the new lender's sanction terms, fees, stamp duty and charges in your state, future rate resets and any prepayments you make. Please verify figures with both lenders before you decide.

Frequently asked questions

When does a home loan balance transfer make sense?

It works best when the rate gap is meaningful, the outstanding amount is large and many years of tenure remain. The calculator weighs the interest you save against the switching costs and shows the month you break even.

What costs are involved in a balance transfer?

Typically the new lender's processing fee plus 18% GST, legal and valuation charges, and stamp duty or registration on the new mortgage, which varies by state. Floating-rate home loans taken by individuals generally carry no foreclosure charge from the existing lender.

Should I ask my current lender to reduce my rate first?

Yes. Many lenders offer a rate conversion or repricing for a fee, which avoids fresh paperwork. The “Stay, reprice or switch” tab compares all three options.

Is it better to lower my EMI or keep the EMI and finish sooner?

Keeping the same EMI usually saves more interest because the loan closes sooner. Lowering the EMI frees up monthly cash flow. You can switch between the two in the inputs.

Can I take a top-up loan when I transfer?

Many lenders offer a top-up with a balance transfer, subject to your income, repayment record and the property value. It is new borrowing, so the calculator shows it separately from the savings.

Thinking of switching your loan?

Use this calculator to see whether a transfer pays for itself. For help comparing lender offers, talk to us.

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Loan approval, interest rates and terms are decided by the lender. Figures on this page are illustrative and do not constitute financial, tax or legal advice.

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