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See whether switching your home loan to a lower rate is actually worth it — net of switching costs, with your exact breakeven month.
See if refinancing to a lower rate is worth it — your new EMI, net saving after costs, and breakeven month.
Worth it — you save ₹1.29 L net and break even in 32 months.
Current Loan
After Transfer
No foreclosure penalty on floating-rate home loans since 1 Jan 2026 (RBI).
Estimates only (reducing-balance, tenure held). Actual savings depend on the new lender's exact rate, fees, and your loan type. Confirm with both lenders.
A balance transfer is worth it when the interest saved over the remaining tenure exceeds the switching cost (new-lender processing fee plus legal and valuation charges). It works best when the rate gap is 0.5% or more and you are still in the first half of your tenure, when most of the EMI is interest. This calculator shows the net saving after costs and the month you break even.
Since 1 January 2026, the RBI bars foreclosure and prepayment penalties on floating-rate home loans taken by individuals, including when the loan is closed via a balance transfer. Fixed-rate loans may still attract charges. Confirm your loan type with your existing lender.
The main cost is the new lender processing fee, typically 0.25% to 1% of the transferred balance, plus flat legal and technical valuation charges. There is no foreclosure penalty on floating-rate loans. The net benefit is the interest you save minus these costs.