Savings Calculator

Find out how much you can save by switching your outstanding loan amount to a lower interest rate.

Calculate your savings
It’s quick and easy!

Total Savings
₹ 0

Savings/Month

₹

Total Interest (Existing Loan)

₹

Total Interest (After Switching)

₹

Current EMI

₹ 12,875

New EMI

₹ 0

When is Home Loan Balance Transfer a good idea?

A balance transfer gives you the opportunity to reduce your home loan interest rate and therefore, your EMI or loan tenure.

Home Loan Balance Transfer is most profitable when the home loan is in its initial years, or if a major portion of the loan is still unpaid.

If you are approaching the end of your home loan or have only 5 to 10% of your loan remaining to be paid, balance transfer may not offer you significant benefits.

What’s the process for Loan Balance Transfer?

The process is to research through all the available lender options in the industry and identify the best option. Then apply for a foreclosure letter with the current lender and furnish a fresh application with the new lender. Which involves fresh documentation and going through the rigmarole of going through the entire process by yourself.

With SwitchMyLoan, the process is way simpler, as we take care of all the stress on your behalf, and help you switch your loan with absolute ease and comfort.