Mortgage Planning

Home Loan Refinance

Calculate if transferring your home loan balance to a new bank is actually worth it. Find your exact break-even point against processing fees.

Current Loan Details

Outstanding Principal (₹)

Remaining Tenure (Years)

Interest Rates & Switching Costs

Current Interest Rate (%)

New Offered Rate (%)

New Bank Processing Fee (%)

Usually 0.5% of loan amount.

Legal / Valuation Fees (₹)

Fixed charges by the new bank.

Refinance Verdict

Net Lifetime Savings

+₹5,05,366

It makes financial sense to switch.

EMI Reduction-₹2,974 / mo

Cost to Switch (Fees)-₹30,000

Break-Even Point

11 Months

It takes this long for the lower EMI to pay off the bank's processing fees.

Detailed guide and formula

Compare with alternatives

Key terms and questions

Tax rules and deductions