Paying an old, high rate? See exactly how much a transfer to today's rates saves — per month and over the full tenure.
Tip: your latest loan statement shows the outstanding principal and current rate.
Interest compounds on your outstanding balance every month for years. Cutting the rate from 10.5% to 8.5% on a ₹30 lakh balance over 15 years saves around ₹6–7 lakh — money that stays in your pocket for the price of some paperwork we handle anyway.
As a rule of thumb: if the new rate is at least 0.5% lower and 5+ years of tenure remain, savings usually outweigh transfer costs. The earlier in the loan you switch, the bigger the win, because early EMIs are interest-heavy.
The new lender may charge a processing fee (often waived in BT offers) plus small legal/valuation costs on home loans. Floating-rate loans have zero foreclosure charges by RBI rule, so exiting your current lender is usually free.
Yes — most lenders offer a top-up on home-loan balance transfers at near home-loan rates, ideal for renovation or big expenses. It's dramatically cheaper than a personal loan for the same amount.
There's one hard enquiry from the new lender and your old account closes — a minor, short-lived dip at most. Paying the new, lower EMI on time quickly outweighs it. Serial transfers every year, however, are best avoided.
We'll verify the savings, negotiate a waived processing fee where possible, and manage the entire switch doorstep.