Whether moving a loan to a cheaper lender is worth the fees, holding the term constant so the rate is the only variable. Late in a loan there is little interest left to save.
Also called: home loan transfer calculator, switch lender.
₹3,77,965 after ₹25,000 of transfer costs. The payment falls from ₹31,781 to ₹29,542, saving ₹2,239 a month, and you recover the costs in 11.2 months.
An estimate, not an offer or a guarantee. Projected returns assume the rate you entered holds for the whole term, which no market does.
This is what the calculation gives for the numbers you entered. It is an estimate, not advice, and it knows nothing about your situation beyond those numbers. Rules for India change on a published schedule; the effective date is shown on every rule-based tool.
The remaining term is kept the same for both loans, which isolates the rate difference. Processing fees are a percentage of the balance and there are usually legal and valuation charges on top. The timing matters more than the rate gap: interest is front-loaded, so a transfer in year two of a twenty-year loan saves a great deal and the same transfer in year fifteen saves very little.
net saving = the monthly saving over the remaining term, less the transfer costsEach of these is asserted on every build. If a change to the engine ever moved one of these answers, the build would fail before the page could print it.
Net saving₹3,77,965
0.5% of 30 lakh plus 10,000, worked by hand
Open this exampleNet saving-₹25,000
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Open this exampleFormula version 1.0.0 · definition 1.0.0 · India · Report a problem with this calculator