Tag Archives: Home Loan Balance Transfer Process

Home Loan Balance Transfer and EMI Calculator December 2017

(Updated on 08.12.17) Home Loan Balance Transfer and EMI Calculator December 2017Loansninsurances.com provides a simple tool to calculate your Balance Transfer EMI on the basis of✓Interest Rates✓Processing Fee✓Eligibility✓Monthly EMI ✓Principal Amount

With uptrend continued in Interest rates of home loan has certainly a negative impact on financial conditions of borrowers. A visible effect is experienced on rising equated monthly installments (EMI), especially, for consumers who have borrowed home loan at floating rates.

As suggested by most of financial experts one should always be financially comfortable with his EMIs. At point of time, if a consumer realizes that his EMIs are posing burden and his financial condition is becoming in bad shape then he should try to pre-pay his home loan as earliest or else he can negotiate with existing bank to explore new avenue. It is also advisable to find out for other options such as balance transfer to any other bank and NBFCs for low interest rate and extension of tenure.

A consumer in apprehension for his mounting EMIs has option to switch to another lender for better deal. Most of the borrowers who were trapped in high interest rate before 2008 complain that banks are not judicious to reduce interest rate at the time of softening of same but on the other hand they seem more inclined to hike interest rate when it is hardened.

Home Loan Balance Transfer EMI Calculator

Home Loan Balance Transfer EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Balance Transfer Home loan emi within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

With an increased number of banks and financial institutions that are in fray to offer lower interest rate to attract consumers may have some disadvantages. Hence, a borrower is expected to evaluate pros and cons before switching to another bank.

Instead of rushing to lender for transfer of balance, one should thoroughly quest for new borrowing and lenders as well. Firstly, one can get a comprehensive detail about interest rate, tenure, processing charges by visiting the website of banks and finance companies. An online EMI calculator in this quest may prove to be an essential tool to have an idea about the upcoming outflow by switching his home loan balance to other lender.

As the home loan is long-term debt instrument, a borrower in this way benefited even if there is 0.5 percentage difference between existing bank and intended lender. A borrower should note that if remaining tenure for balance payment is not too much then switching for balance transfer makes a little sense.

A borrower while transferring his outstanding balance to another bank is liable to charge with pre-payment penalty. Alternatively, some banks put aside this clause if the remaining balance is deposited by none other source than of his own.

It’s up to one’s own choice to select an EMI calculator. Consequently, one need to punch essential inputs such as outstanding amount for which he require loan along with the rate of interest that is applicable on home loan package and number of years.