Your current home loan
Outstanding balance—
Current interest rate—
Remaining tenure (months)—
Loan rate type
RBI mandates zero foreclosure charges on floating rate home loans. No penalty applies here.
Fixed rate loans may carry foreclosure charges of 2–4%. Check your sanction letter. Adjust below in switching costs.
New loan offer
New interest rate offered—
The rate difference is less than 0.5%. Before initiating a transfer, try negotiating this rate with your current lender — an internal rate conversion costs ₹5,000–₹15,000 vs a full BT.
New loan tenure
Processing fee type
Processing fee—
Many lenders waive processing fees during promotional windows. If fee is waived, set to zero.
Property & location
State where property is located
Property type
Society apartments typically require an NOC from the housing society for mortgage transfer. Budget ₹3,000–₹15,000 depending on society.
How long will you hold this property?—
If you plan to sell before the break-even period, switching costs may not be recovered.
Switching costs
Auto-populated from your loan and state. All figures are editable — verify against actual quotes received.
Mortgage type for the new loan
Most home loans use an equitable mortgage (deposit of title deeds) — little or no stamp duty in most states. Some states or lenders require a registered mortgage, which costs more. We default to the usual practice for your state; switch if yours differs.
💡 Many lenders bundle the legal / advocate opinion fee and property valuation fee into a single processing fee. If your lender does this, set those individual line items to zero so you don't double-count them.
Total switching cost
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Results
Monthly EMI saving
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Break-even
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Net saving over tenure
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Current loan
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EMI / month
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Total interest remaining
After transfer
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EMI / month
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Total interest (new loan)
Cumulative EMI saving
Switching cost (to recover)
Year-by-year savings breakdown
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| Year | EMI saving | Cumul. saving | Cost left | Status |
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Mortgage charges: We set the stamp duty and registration cost from your state and the mortgage type (equitable or registered). Figures are indicative — confirm with your lender and a local sub-registrar, and check which route your lender will use.
Foreclosure: Floating rate home loans carry zero foreclosure charge (RBI rule). Fixed rate loans may — check your sanction letter.
Tip: Ask your current lender for an internal rate revision first (₹5,000–₹15,000). If they match within ~0.25%, you save the full switching cost.
Informational use only. Verify all figures with your lender and a qualified professional before switching.
Foreclosure: Floating rate home loans carry zero foreclosure charge (RBI rule). Fixed rate loans may — check your sanction letter.
Tip: Ask your current lender for an internal rate revision first (₹5,000–₹15,000). If they match within ~0.25%, you save the full switching cost.
Informational use only. Verify all figures with your lender and a qualified professional before switching.
A LoanSach tool · informational use only