Home loan balance transfer calculator
Enter your balance, your rate now, the new offer and the switching costs. See whether you come out ahead, and how soon.
- Costs included
- Break-even month
- Free, no sign-up
Switching lenders and your tax
Your section 24 and 80C claims continue after a transfer. You'll need interest and principal certificates from both lenders for that year.
Questions people often ask
Do I need certificates from both lenders?
Yes. For the year you switch, add up the interest and principal from both lenders' certificates.
Does a top-up loan count for tax?
Only if the money is used to buy, build or repair a house, and you can show it.
Is switching worth it?
Savings minus costs.
- Same balance, same months, a lower rate.
- The EMI falls; add up the savings.
- Take off the costs; check the break-even month.
Last reviewed 9 October 2026. The rules in this calculator come from these official sources.
Common questions
When is a balance transfer worth it?
When the EMI savings over the remaining months clearly exceed the switching costs. A gap of 0.5% or more on a large balance with many years left usually is.
What does switching cost?
The new lender's processing fee, legal and valuation charges, and stamp duty on the new agreement in some states. Floating-rate loans can't be charged for foreclosure.
What is the break-even month?
The month when the EMI you've saved first covers the switching costs. After that, it's pure saving.
Should I ask my bank to lower the rate first?
Yes. Many banks will reset your rate for a small conversion fee, which is often cheaper than switching.
How much does a 1% cut save?
On ₹40 lakh with 15 years left, cutting 9.5% to 8.5% saves about ₹2,379 a month, or about ₹4.1 lakh after ₹20,000 of costs.
Does a transfer affect my credit score?
A new loan enquiry may cause a small, temporary dip. Repaying on time with the new lender rebuilds it.
