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Home Loan Balance Transfer Calculator
Moving your home loan to a bank with a lower rate can cut your EMI. This shows what you would really save after fees, and how long it takes to earn the fees back.
Savings at each bank's starting rate
Example: ₹40 lakh outstanding at 9.5% with 15 years left and ₹10,000 in fees. Uses each bank's advertised starting rate, which is a best case.
| Bank | Starting rate | Saving per month | Net saving | Fees earned back in |
|---|---|---|---|---|
 Bank of Maharashtra | 7.25% | ₹5,254 | ₹9,35,805 | 2 mo |
 Indian Bank | 7.35% | ₹5,029 | ₹8,95,153 | 2 mo |
 Canara Bank | 7.4% | ₹4,915 | ₹8,74,778 | 3 mo |
 Punjab National Bank | 7.45% | ₹4,802 | ₹8,54,370 | 3 mo |
 Central Bank of India | 7.45% | ₹4,802 | ₹8,54,370 | 3 mo |
 State Bank of India | 7.5% | ₹4,688 | ₹8,33,929 | 3 mo |
 Federal Bank | 7.5% | ₹4,688 | ₹8,33,929 | 3 mo |
 Kotak Mahindra Bank | 7.6% | ₹4,461 | ₹7,92,948 | 3 mo |
 IDFC FIRST Bank | 7.75% | ₹4,118 | ₹7,31,232 | 3 mo |
 Axis Bank | 8% | ₹3,543 | ₹6,27,723 | 3 mo |
 ICICI Bank | 8.5% | ₹2,379 | ₹4,18,293 | 5 mo |
 HDFC Bank | 8.5% | ₹2,379 | ₹4,18,293 | 5 mo |
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Frequently asked questions
How much can I save by moving a ₹40 lakh loan at 9.5% to Bank of Maharashtra?
At Bank of Maharashtra's starting rate of 7.25%, with 15 years left and ₹10,000 in fees, you would save about ₹5,254 a month and about ₹9,35,805 overall. Your actual offer may be higher than the starting rate.
When is a home loan balance transfer worth it?
As a rough guide, when the new rate is at least 0.5 percentage points lower and many years of the loan remain. Count every fee (processing, legal, valuation, stamp duty on the new agreement) and check how many months it takes to earn them back.
Should I ask my current bank to lower my rate first?
Yes. Many banks will reprice an existing loan to a lower rate for a fee, which can be cheaper and quicker than moving to a new bank.
Does a balance transfer affect my credit score?
The new lender will check your credit, which can cause a small, temporary dip. Paying the new loan on time matters far more.