Home Loan Balance Transfer
Still paying 9.5%? You are giving the bank money for nothing.
Rates have moved. Most loans taken more than two years ago sit above what the same borrower would be offered today — and the lender has no reason to tell you. Move it, and the difference stays in your account every month for the rest of the term.
-
Lower Interest Rate
Pay less, save more
-
Shorter Tenure
Become debt free sooner
-
More Savings
Keep more in your pocket
-
Simple Process
Quick, easy & hassle-free
Your savings
What are you leaving on the table?
Enter what you owe now, not what you originally borrowed — the outstanding balance is what gets transferred.
The calculator subtracts the cost of switching before it tells you anything, so the figure you see is the one you actually keep. Drag the tenure down to four or five years and watch the verdict change: on a loan that is nearly paid off, a transfer usually is not worth it, and we will say so.
EMI now
₹0
EMI after transfer
₹0
You keep, over the remaining term
₹0
- Processing fee (0.50%)
- ₹0
- Legal & valuation
- ₹5,000
- Cost to switch
- ₹0
Indicative. Stamp duty on the mortgage deed may apply depending on the lender and state, so treat the break-even as a floor. Foreclosure charges are nil on floating-rate home loans to individuals.
Worked examples
What a transfer looks like in rupees
| Outstanding | Years left | Rate | EMI now | EMI after | Monthly saving | Total saved |
|---|---|---|---|---|---|---|
| ₹25,00,000 | 15 | 9.25% → 8.35% | ₹25,730 | ₹24,399 | ₹1,331 | ₹2,39,515 |
| ₹40,00,000 | 18 | 9.75% → 8.5% | ₹39,353 | ₹36,218 | ₹3,135 | ₹6,77,054 |
| ₹60,00,000 | 20 | 9% → 8.35% | ₹53,984 | ₹51,501 | ₹2,482 | ₹5,95,771 |
| ₹8,00,000 | 4 | 9.25% → 8.5% | ₹20,003 | ₹19,719 | ₹284 | ₹13,656 |
The last row is the point: a small saving against roughly ₹9,000 to switch takes over two and a half years to break even. We would tell you not to bother.
Comparison
What lenders charge to take over your loan
Interest rates move every time the repo rate does, so we do not publish them here — we check every lender the day you apply and bring you the live numbers. Processing fees move far more slowly.
| Lender | Processing fee | Notes |
|---|---|---|
| SBI | [0.35%, min ₹2,000] | [Often waived on transfers] |
| HDFC Bank | [0.50%, max ₹3,000] | [Fast processing on salaried files] |
| ICICI Bank | [0.50%] | [Top-up available with the transfer] |
| Axis Bank | [₹10,000 flat] | [Good for self-employed profiles] |
| LIC Housing | [₹3,000 flat] | [Lower rates for high credit scores] |
Straight answer
When we will tell you not to bother
-
Under five years left
Most of your interest is already paid. The switching cost rarely earns itself back in time.
-
The gap is under 0.5%
Below roughly half a percent, fees usually eat the saving. Ask your current lender to reprice instead — it is free.
-
You are selling soon
If the house is going in a year or two, you will never reach break-even.
-
Your credit has slipped
A transfer is a fresh application. If your score has dropped since, the new rate may be worse than the one you have.
Before you transfer anything, ask your current bank to match the rate. They sometimes will, it costs you nothing, and we will tell you when it is worth asking.
The process
From enquiry to a lower EMI
-
1
We check the maths
Outstanding, rate, tenure. If a transfer does not pay for itself, we say so and you owe us nothing.
-
2
Foreclosure letter and documents
We request your statement of account and list of documents from your current lender.
-
3
New lender sanctions
Fresh appraisal and legal check on the property. We coordinate all of it.
-
4
Old loan closed, papers moved
The new bank pays off the old one and collects your original documents directly. They never pass through your hands — or ours.