Calculate if a home loan balance transfer (refinance) will save you money after accounting for switching costs.
| Current Monthly EMI | — |
| New Monthly EMI | — |
| Monthly Savings | — |
| Total Savings (over tenure) | — |
| Break-even Period | — |
| Verdict | — |
A balance transfer makes sense when the interest rate difference is at least 0.5% and you have more than 10 years of tenure left. The savings on interest must exceed the switching costs.
Q: What are the costs of home loan balance transfer in India?
A: Costs include processing fee (0.5-1% of loan), prepayment penalty (0-2% for fixed rate), legal/technical charges, and stamp duty on new loan agreement.
Calculatr