Loans & Debt · Change Your Bank
Loan Transfer Analyzer
Compare staying with your current lender against transferring to a new bank at a lower interest rate, accounting for processing fees, legal charges, and other transfer costs — with an estimated break-even period.
Your inputs
Your result Live
Potentially Beneficial
₹2,67,479
Estimated net savings after transfer costs
- New EMI
- ₹36,183
- Monthly EMI Reduction
- ₹1,817
- Gross Interest Savings
- ₹2,97,479
- Transfer Costs
- ₹30,000
- Break-even Period
- 17 months
Current Loan vs. New Loan
5 rowsYour EMI of ₹38,000 clears the loan in 183 months, not the 144 months entered — both loans are compared over 183 months so the saving reflects the rate, not a change in tenure.
Based on the information provided, switching may be worthwhile — the estimated savings recover the transfer costs well within your remaining tenure. Estimated savings may differ from actual results.
This calculator provides an estimate based on the information entered. Actual transfer terms, processing timelines, and charges vary by lender.
An estimate from the assumptions you entered, not a guaranteed outcome.
How this is calculated
This compares the total interest remaining on your current loan against a new loan for the same outstanding principal at the new bank's rate over the same remaining tenure — the number of months your current EMI actually takes to clear the balance — then subtracts the one-time transfer costs to find your net savings. The break-even period is how many months of lower EMI payments it takes to recover those transfer costs — a useful check because a lower rate alone doesn't guarantee a transfer is worthwhile.
Common questions
Does a lower interest rate always mean I should transfer?
No — transfer costs (processing fees, legal charges, foreclosure charges on the old loan, etc.) can outweigh the savings, especially if your remaining tenure is short. This calculator accounts for that explicitly rather than looking at the rate alone.