Home Loan Balance Transfer: 50 Lakh Fixed-Rate Loan with Prepayment Penalty
A fixed-rate 50 lakh home loan that still carries a prepayment penalty from the old lender, unlike most floating-rate loans in India.
Switching a ₹50,00,000 home loan from 9.5% to 8.25% over the remaining 15 years saves ₹6,66,759 in interest, against a one-time switching cost of ₹1,40,000. Switching saves you ₹5,26,759 over your remaining tenure, break-even in 38 months.
- Outstanding loan amount
- ₹50,00,000
- Remaining tenure
- 15 years
- Current rate
- 9.5% p.a.
- New lender rate
- 8.25% p.a.
- Switching cost
- ₹1,40,000
Net savings
Recommended₹5.27 Lakhs
₹5,26,759
Switching saves you ₹5,26,759 over your remaining tenure, break-even in 38 months.
Current lender (9.5% p.a.)
Monthly EMI
₹52,
Interest remaining
₹43.98 Lakhs
₹43,98,022
New lender (8.25% p.a.)
Monthly EMI
₹48,
Interest remaining
₹37.31 Lakhs
₹37,31,263
Interest saved
₹6.67 Lakhs
₹6,66,759
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EMI for both lenders is calculated using the standard formula P x r x (1+r)^n / ((1+r)^n - 1) over the remaining tenure of 15 years. Floating-rate home loans carry no prepayment penalty under RBI rules; fixed-rate and NBFC loans may still charge one. Actual savings depend on your lender's exact fee structure and any other charges not reflected here.