How to Calculate Savings from Balance Transfer

Understanding Home Loan Balance Transfer

Steps to Calculate Savings from Balance Transfer

Step 1: Gather Information About Your Existing Home Loan

Step 2: Research Interest Rates from Other Lenders

Step 3: Calculate Potential EMI with the New Lender

Step 4: Calculate Total Interest Payable with Both Lenders

Step 5: Calculate the Difference in Total Interest Payable

Step 6: Account for Transfer Costs

Example Scenario:

Other Factors to Consider

Conclusion

Frequently Asked Questions (FAQs) About Home Loan Balance Transfer