Balance transfer calculator
A rate cut is only worth having if it survives the processing fee. This works out when it does.
The loan you have
Read these off your latest statement, not the sanction letter.
The offer on the table
Keeping the tenure identical is the honest comparison. Resetting the clock back to 20 years always makes the EMI look better and usually costs you more.
When the switch pays for itself
Cumulative net benefit. It starts below zero — you pay the fee up front — and crosses into profit at break-even.
Worth doing if you will hold the loan past month 8. Ask your existing lender to match the rate first — an internal rate reset costs a fraction of a transfer.
- ·A balance transfer of the outstanding principal only — no top-up loan.
- ·Processing fee charged as a percentage of the outstanding, deducted up front. Legal, valuation and MOD/stamp charges on the new mortgage are extra and vary by state.
- ·No foreclosure penalty: RBI bars it on floating-rate loans to individuals. A fixed-rate loan may still carry one — check your sanction letter.
- ·Both loans priced on a reducing balance with the rate held flat for the tenure.
Talk to an advisor about this
A calculator gives you the arithmetic. An advisor tells you which lender will actually sanction it, which projects have an approved-project (APF) tie-up so the file moves in days rather than weeks, and what the builder will negotiate on. No fee to you — we are paid by the developer on a registered booking.
- · Rate comparison across a 10-lender panel
- · Paperwork prepared and tracked to disbursal
- · Callback within 5 minutes, 9:30am–8pm IST