Checklist before switching
- Ask your current lender for a rate reduction ("conversion"); it is often cheaper than switching.
- Check whether the new rate is a teaser that resets after 1–2 years.
- Count all charges: processing fee, legal and valuation fees, MOD/stamp duty and any insurance the new bank bundles.
Related: EMI calculator · prepayment planner · compare loan offers
How to use the Loan Balance Transfer Calculator tool
- Enter the outstanding loan, remaining tenure and current rate.
- Enter the new rate and the total switching fees.
- See net savings after fees, the new EMI and the break-even point.
Why SaralKit?
- Free forever: no "credits", no trial, no premium tier, no watermark and no daily limit.
- No account, ever: nothing to sign up for. Just open the page and use it.
- No data stored: your files and the numbers you type are processed by your own browser. We never upload, store or see them.
- Works offline: once the page has loaded, most tools keep working without internet.
- Open source: anyone can read the code on GitHub.
Frequently asked questions
What is a home loan balance transfer?
Moving your outstanding loan to another bank that offers a lower interest rate. Your EMI or tenure drops, but you pay a processing fee and some charges (legal, valuation, stamp duty).
When is a balance transfer worth it?
Usually when the rate difference is at least 0.5% and you have many years left. This calculator subtracts the fees and shows the net saving and the break-even month.
Should I ask my current bank first?
Yes. Many banks reduce your rate for a small conversion fee if you ask, which avoids paperwork. Compare that offer with the transfer using this tool.