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Home Loan Balance Transfer EMI Calculator

Use home loan balance transfer EMI calculator on Bajaj Markets to quickly find out savings on your existing housing loan EMI and reduce your obligations!
Your Home Loan Balance Transfer EMI
₹ 17,444
Total Interest Amount

₹ 9,327

Principal Amount

₹ 2,00,000

Total Payable Amount

₹ 2,09,327

Loan Amount i
Interest Rate
- +
Min value reached
Max value reached
Tenure
Months arrow-down-img
  • Years
- +
Min value reached
Max value reached
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You can also make instant comparisons between loan offers from multiple providers on Bajaj Markets.

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Furthermore, you can gain deeper insights into your loan instalments with the free amortisation schedule, which is provided with each calculation. 

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Calculator Component

A home loan balance transfer EMI calculator helps you estimate the EMIs after shifting your existing home loan to a new lender. You only need to enter details, such as outstanding loan amount, tenure, and interest rates to get an accurate estimate. 

This makes it easier for you to compare repayment options and make informed financial decisions before opting for a balance transfer.

The home loan balance transfer EMI calculator is simple and hassle-free. You can follow these quick steps to get accurate results:

  1. Enter the loan amount 

  2. Use the slider to select your tenure in months or years using the dropdown 

  3. Adjust the applicable interest rate  

You can check the EMI details as well as the amortisation schedule.  Also, you can change the details in the calculator to understand the difference in home loan EMIs for distinct tenures and rates.

Before you calculate your home loan balance transfer EMI online with the EMI calculator available on Bajaj Markets, let us understand the formula:

EMI = [P × R × (1+R)^N] / [(1+R)^N – 1]

Where:

  • P = Loan Amount (Principal)

  • R = Monthly Interest Rate

  • N = Loan Tenure in Months

Suppose you have an outstanding housing loan of ₹20 Lakhs with a remaining tenure of 15 years at an interest rate of 9.5% p.a. You decide to transfer this balance to a new lender offering a lower rate of 8% p.a. for the same tenure.

1. Calculating Your Current EMI (at 9.5% annual interest)

P = ₹20,00,000

R = 9.5 / 12 / 100 = 0.007917

N = 180 months

Using the formula, your EMI would be:

EMI = [20,00,000 × 0.007917 × (1+0.007917)^180] / [(1+0.007917)^180 – 1] = ₹20,895.

2. Calculating Your New EMI After Balance Transfer (at 8% annual interest)

P = ₹20,00,000

R = 8 / 12 / 100 = 0.00667

N = 180 months

Using the same formula for the new loan terms:

EMI = [20,00,000 × 0.00667 × (1+0.00667)^180] / [(1+0.00667)^180 – 1] = ₹19,113.

Hence, you would save ₹1,782 per month (₹20,895 - ₹19,113) by transferring your home loan balance.

EMI Calculation for Different Home Loan Balance Transfer Amounts

The EMI for a home loan balance transfer depends on the loan amount, interest rate, and tenure. At an interest rate of 7.60% p.a. and a maximum tenure of 30 years, here are some examples of calculations for different loan amounts:
Loan Amount Monthly EMI Total Interest Payable Total Repayment Amount

₹50 Lakhs

₹35,303

₹77,09,345

₹1,27,09,345

₹1 Crore

₹70,607

₹1,54,18,690

₹2,54,18,690

₹5 Crores

₹3,53,037

₹ 7,70,93,452

₹12,70,93,452

₹8 Crores

₹5,64,859

₹12,33,49,524

₹20,33,49,524

₹10 Crores

₹ 7,06,074

₹ 15,41,86,905

₹ 25,41,86,905

Disclaimer: The above EMIs are calculated with the calculator available on Bajaj Markets. Actual figures may vary depending on the loan terms.

This home loan balance transfer calculator makes your calculation simple and quick. Here are some key benefits of using this tool:

  • Instantly compare EMIs and interest charges from different lenders

  • Get accurate and error-free EMI calculations

  • View EMI, interest, and repayment details within seconds

  • Use the calculator unlimited times, free of cost

  • Simple and user-friendly interface for hassle-free use

  • Accessible anytime from the comfort of your home

Factors that Affect Your Home Loan Balance Transfer EMI

When transferring your home loan, several financial and personal factors determine the EMI you will pay. Understanding these helps you choose the most cost-effective option.

  • Loan Amount: The larger the loan amount, the higher your EMI, as repayment is spread across a bigger principal

  • Interest Rate: A lower rate of interest reduces your EMI significantly, while a higher rate increases your monthly burden

  • Repayment Tenure: Extending the tenure lowers your EMI but increases the total interest paid over time

  • Processing Fees and Other Charges: One-time costs like processing fees, legal charges, or transfer fees add to your overall repayment cost

  • Lender’s Policies: Different lenders offer varying terms, home loan balance transfer eligibility criteria, and interest rates, which directly impact your EMI

  • Credit Score: A higher credit score helps you negotiate better interest rates, leading to lower EMI obligations

Key Points to Remember When Calculating a Home Loan Balance Transfer EMI

When using the home loan refinance calculator, consider the following points to compare repayment options and select the one that best suits your finances:

  • Enter Accurate Loan Details: Input the correct loan amount, applicable interest rate, and the desired repayment tenure, as these factors form the basis of EMI calculation

  • Check Fixed vs. Floating Rate: Indicate whether the rate is fixed or floating, as floating rates may change over time and alter EMIs

  • Account for Fees and Charges: Include costs such as processing fees, legal charges, and transfer expenses to obtain a realistic repayment estimate

  • Ensure Budget Compatibility: Compare the calculated EMI with your monthly income and obligations to ensure affordability

Frequently Asked Questions

Home Loan Balance Transfer EMI Calculator

Can you calculate savings using a home loan refinance calculator?

Yes, with a home loan refinance calculator, you get an estimate of your new repayment amount. Once done, you can evaluate your savings by comparing the EMIs and the total interest payment.

No, the housing loan balance transfer EMI calculator does not consider the processing fee or other charges. It only considers the interest rate, tenure, and current loan amount, without additional charges.

It reduces your EMI by shifting your home loan to a lender offering a lower interest rate, as per your choice. With reduced interest, your EMI lowers, which helps you save on overall repayment.

Yes, the home loan balance transfer EMI calculator on Bajaj Markets allows you to compare offers from multiple lenders. The calculator helps you evaluate EMIs, interest charges, and savings before choosing the best option.

Yes, like most home loan balance transfer calculators, the one on Bajaj Markets also provides a detailed amortisation schedule along with your EMI amount.

The EMI calculator provides an estimate based on a standard formula, giving you a close idea of your monthly instalments. However, the actual EMI may vary depending on factors such as the lender’s terms, interest rate revisions, processing fees, and other applicable charges.

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