Home Loan Balance Transfer: 25 Lakh from 9.25% to 8.75%
A 25 lakh outstanding home loan over 10 years switching from 9.25% to 8.75%: check if it clears the break-even point.
Switching a ₹25,00,000 home loan from 9.25% to 8.75% over the remaining 10 years saves ₹81,179 in interest, against a one-time switching cost of ₹22,500. Switching saves you ₹58,679 over your remaining tenure, break-even in 34 months.
This calculation's inputs
- Outstanding loan amount
- ₹25,00,000
- Remaining tenure
- 10 years
- Current rate
- 9.25% p.a.
- New lender rate
- 8.75% p.a.
- Switching cost
- ₹22,500
Should you switch?
Net savings
Recommended₹58,
Switching saves you ₹58,679 over your remaining tenure, break-even in 34 months.
Current lender (9.25% p.a.)