See exact savings from switching banks — net of transfer fees. Plus bank-by-bank comparison.
Your bank is charging 9.5% interest but another bank is offering 8.2%. Should you transfer your home loan? The answer isn't just about the rate — you need to factor in processing fees, legal charges, and how many months you have left.
This free balance transfer calculator shows you the exact net savings after all fees — and tells you whether switching is actually worth it for your situation.
Meet Priya, 35, from Pune. She took a ₹45 lakh home loan in 2022 at 9.5%. Now HDFC is offering 8.3%. Outstanding balance is ₹41 lakh with 17 years remaining.
| Scenario | Old Bank (9.5%) | New Bank (8.3%) | Saving |
|---|---|---|---|
| Monthly EMI | ₹43,200 | ₹38,900 | ₹4,300/month |
| Total interest remaining | ₹46.8 lakh | ₹38.4 lakh | ₹8.4 lakh |
| Processing fee (0.5%) | — | ₹20,500 | — |
| Legal + stamp charges | — | ₹15,000 | — |
| Net savings | — | — | ₹8.05 lakh ✅ |
Break-even point: Total fees = ₹35,500 ÷ ₹4,300/month savings = 8.3 months. After that, Priya is saving ₹4,300 every single month. Verdict: 100% worth it.
| Current Rate | New Rate | Rate Diff | Monthly Saving | Total Saving (net of ₹30K fees) |
|---|---|---|---|---|
| 9.5% | 9.0% | 0.5% | ₹1,280 | ₹2.0 lakh |
| 9.5% | 8.5% | 1.0% | ₹2,570 | ₹4.3 lakh |
| 9.5% | 8.0% | 1.5% | ₹3,870 | ₹6.7 lakh |
| 9.5% | 7.5% | 2.0% | ₹5,180 | ₹9.0 lakh |