Thinking of moving your loan to a lender with a lower rate? See your new EMI and how much total interest you could save over the remaining tenure.
Moving your loan to a lower rate saves interest, but the switch isn't free: the new lender usually charges a processing fee (often 0.5-1% of the loan), and there may be paperwork and valuation costs. A transfer makes most sense when the rate gap is meaningful (roughly 0.5% or more) and you have several years of tenure left, so the savings outweigh the fees.
Check for prepayment or foreclosure charges on your current loan, and confirm the new rate is not a short-term teaser that resets higher. The interest saved shown here is before any fees.
Usually when the rate gap is about 0.5% or more and you have several years of tenure left, so the interest saved exceeds the processing and switching fees.
Typically a processing fee (around 0.5-1% of the loan) from the new lender, plus possible legal or valuation charges. Subtract these from the interest saved.
Read the guide: Is a loan balance transfer worth it? →
Last updated: August 2026. Estimates only; interest saved is shown before processing or transfer fees.