Balance transfer calculator
Simulate moving a loan to a lower rate and see your total and monthly savings.
Loan transfer simulation
Enter your current loan and the new offer to see your total and monthly savings after the transfer fee. Figures are indicative.
The amount still owed on your current loan.
Charged by the new lender as a percentage of your outstanding principal.
- New interest69%
- Interest saved31%
Potential total savings
₹59,209
net of the transfer fee — worth switching
Current EMI
₹11,895
on your existing rate, over the new tenure
New EMI
₹10,908
₹987 lower each month
One-time transfer fee
₹7,500
new principal becomes ₹5,07,500
Interest saved over the tenure
₹66,709
₹2,13,698 now vs ₹1,46,989 after
Comparing offers won't affect your credit score.
Four inputs, one honest answer
The calculator compares both loans on equal terms, then subtracts the transfer fee so you see your real saving — not a headline rate gap.
Enter your current loan
Add the principal still outstanding and the interest rate you're paying today.
Add the new offer
Set the transfer rate, the new tenure in months and the one-time processing fee the new lender charges.
We re-run both loans
Both EMIs are recomputed over the same new tenure with the reducing-balance formula, and the fee is added to the new principal.
See your real savings
Total savings = interest saved minus the transfer fee. A positive number means the switch puts money back in your pocket.
Should you transfer your loan?
A balance transfer can lower your EMI, shorten your tenure or cut the total interest you pay — but only if the savings outweigh the cost of switching. Lenders charge a one-time processing fee on the outstanding balance, and a longer new tenure can quietly add back interest even at a lower rate.
This calculator settles the question with numbers. It recomputes both your current loan and the new offer over the same tenure using the reducing-balance EMI formula, adds the transfer fee to the new principal, and reports the net total savings and the change in your monthly EMI. When the headline savings card turns green, switching puts money back in your pocket.
Figures are indicative and for planning only. Actual rates, fees and eligibility are set by each lending partner. PakkaLoan does not lend directly and the final offer is determined by your chosen lender.
Balance transfer questions, answered
A balance transfer moves the outstanding balance of an existing loan to a new lender — usually to get a lower interest rate, a longer tenure or a smaller EMI. The new lender pays off your old loan and you repay them instead, typically after a one-time processing or transfer fee.
It recomputes your current loan and the new offer over the same new tenure using the standard reducing-balance EMI formula. The transfer fee is calculated as a percentage of your outstanding principal and added to the new loan amount. Total savings = (interest on the old loan − interest on the new loan) − transfer fee, and net monthly savings = old EMI − new EMI.
Not always. If the transfer fee and the interest over the new tenure outweigh the interest you save, the calculator shows zero or negative total savings. A transfer tends to pay off most when there's a meaningful rate gap and you still have a large balance and several years left.
The main cost is a processing or transfer fee charged by the new lender, typically in the region of 0.5% to 4% of the loan amount. Stamp duty, legal or valuation fees can also apply on secured loans. Your final charges are confirmed by the lender, so treat the calculator's output as indicative.
No. This is a planning tool — entering numbers here has no effect on your credit score. A formal credit enquiry is only raised when you proceed with a specific lender and they assess your application.
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