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Balance Transfer Savings Calculator

Calculate how much you save by transferring your loan to a bank offering a lower interest rate. Includes break-even analysis.

Outstanding loan amount₹20L

Current interest rate (%)14.00%

Remaining tenure (years)7 yrs

New interest rate (%)11.00%

Processing fee (%)1.0%

Monthly savings

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Total savings

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Break-even months

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Current EMI

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New EMI

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When should you transfer?

Rate difference > 1.5%: The new rate must be at least 1.5% lower than your current rate to make the transfer worthwhile after fees.

Remaining tenure > 3 years: More tenure remaining means more interest savings. Transfers in the last 2 years rarely pay off.

Break-even < 24 months: If the processing fee is recovered within 24 months of savings, it is generally a good deal.

CIBIL score 700+: A strong credit score ensures you get the advertised lower rate from the new bank.

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