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Loan Transfer Saving Calculator

Work out loan transfer saving instantly with clear inputs, formula shown and shareable results.

About Loan Transfer Saving Calculator

A balance transfer refinances the outstanding balance at a lower rate for the remaining tenure. The gross saving is the EMI reduction multiplied by the months left, against which transfer costs must be set.

Formula

Transfer saving

Saving = [PMT(B, r_old, n) - PMT(B, r_new, n)] × n

B
Outstanding balance
n
Remaining months

Worked example

With the default values below, Loan Transfer Saving Calculator returns Total Interest Saved of $268,457.40. Change any input above and every figure here is recalculated in your browser.

Inputs used

Outstanding Balanceminimum 0
2,500,000
Current Rateaccepts 0–100 %
9.6 %
New Lender Rateaccepts 0–100 %
8.6 %
Remaining Tenure In Yearsaccepts 1–30
15

Results

Total Interest Saved
$268,457.40
Monthly Saving
$1,491.43
EMI With The New Lender
$24,765.25
Current EMI
$26,256.68

Step by step

  1. 1Values used
  2. 2Transfer saving
  3. 3Total Interest Saved= 268,457.40
  4. 4Monthly Saving= 1,491.43
  5. 5EMI With The New Lender= 24,765.25
  6. 6Current EMI= 26,256.68

Assumptions and limits

  • The result is derived only from the 4 inputs listed above. Anything not among them is not part of the calculation.
  • In particular, this calculator does not take inflation, tax, fees or charges or compounding frequency into account.
  • Figures are rounded for display to 2 decimal places, so totals built from several rounded parts can differ slightly from the unrounded arithmetic.
  • Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.
  • This is an estimate for general information and not professional financial, tax or legal advice. See the full disclaimer for the limits that apply to this kind of calculator.

How these calculators are built and tested is described on the Methodology page. If a figure looks wrong, please report it.

Figures are estimates. Lenders apply their own rounding, fees and eligibility rules, and rates change. This is not financial advice — confirm the numbers with your lender.

Frequently Asked Questions

What costs offset the saving?

Processing fees at the new lender, legal and valuation charges, stamp duty on fresh documents and any foreclosure charge on the old loan.

When is a transfer worth it?

Usually when the rate gap is at least 0.5 points and a good part of the tenure remains, so the saving has time to accumulate.

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Loan Transfer Saving Calculator | Calcrivo