What is Home Loan Balance Transfer (HLBT) Calculator?

A HLBT Calculator is a useful tool for calculating interest cost savings when switching your existing home loan from one lender to another. This calculator helps you determine if the new loan terms from another lender are more favorable for your overall interest cost. Before deciding on a HLBT, it’s important to assess whether the savings in EMIs outweigh the charges and effort involved in the balance transfer.

The calculator helps you determine the revised EMI and total interest cost savings over the loan tenure, thereby enabling you to make an informed decision about whether the transfer could result in significant cost reductions.

How to use HLBT calculators?

Many lenders and home loan websites provide Home Loan Balance Transfer calculators to help you determine the overall interest cost savings of switching your existing home loan to a new lender. These calculators are user-friendly and can assist you in making informed decisions, ensuring you choose the best option for your financial needs and goals. Simply enter the existing loan details, including the loan amount, tenure and interest rates of both your current lender and then enter the loan amount to be transferred to the new lender along with the new loan tenure and interest rates. You will know your existing EMIs, proposed EMIs, monthly and total savings in interest cost.

Borrowers can also use Home Loan EMI calculators to check for interest cost savings from home loan balance transfer. Simply enter the loan amount, interest rate and tenure of your current lender to calculate your home loan EMI. Next, input the loan amount with the revised interest rates and tenure to get the revised home loan EMI after the balance transfer. The difference between the original EMI and the revised EMI will show your monthly EMI savings. To determine the total interest cost savings, multiply your monthly EMI savings by the total number of months in the tenure of the transferred loan.

Benefits of using HLBT calculator

Fast EMI Comparison

The calculator enables borrowers to compare the EMIs of their current loan with those of new loans after the balance transfer, allowing the borrowers to take an informed decision regarding their monthly reduction in EMIs.

Analysis of Interest Cost Savings Analysis

By entering details such as the outstanding loan amount, current interest rate and new interest rate, borrowers can know the interest cost savings over the loan tenure.

Financial Planning

Knowing the new EMIs before closing a transferring home loan to the new lender can help borrowers factor in the reduced EMI in their overall  financial planning.

Customization

Most EMI calculators allow users to modify variables like tenure and interest rates to explore various scenarios, helping borrowers choose the best option.

Time-Saving

Rather than performing manual calculations, the EMI calculator delivers instant results, saving borrowers’ time and effort.

What will be my Home Loan Balance Transfer rate?

The interest rates for home loan balance transfers offered to existing borrowers primarily depend on lenders’ evaluations of various factors in the applicant’s credit profiles, such as credit scores, age, occupation, repayment capacity, and employer profile. Usually, the home loan balance transfer interest rates offered to an applicant are the same as the standard home loan interest rate offered to an applicant with the same credit profile. However, some lenders may offer different interest rates specifically for balance transfer cases.

The table below provides a clear overview of the balance transfer rates charged by some of the top banks and housing finance companies (HFCs) in India:

Home Loan Balance Transfer Interest Rates of Banks/HFCs – 2025

Name of Banks	Home Loan Balance Transfer Interest Rates (% p.a.)
	Up to Rs. 30 Lakh	Above Rs. 30 Lakh to Rs. 75 Lakh	Above Rs. 75 Lakh
State Bank of India	8.50% onwards	8.50% onwards	8.50% onwards
HDFC Bank Limited	8.70% onwards	8.70% onwards	8.70% onwards
LIC Housing Finance	8.50% – 10.35%	8.50% – 10.55%	8.50% – 10.75%
ICICI Bank	8.75% onwards	8.75% onwards	8.75% onwards
Kotak Mahindra Bank	8.75% onwards	8.75% onwards	8.75% onwards
PNB Housing Finance	8.50% – 14.50%	8.50% – 14.50%	8.50% – 11.45%
Punjab National Bank	8.45% – 10.25%	8.40% – 10.15%	8.40% – 10.15%
Bank of Baroda	8.40% – 10.65%	8.40% – 10.65%	8.40% – 10.90%
Union Bank of India	8.35% – 10.75%	8.35% – 10.90%	8.35% – 10.90%
IDFC First Bank	8.85% onwards	8.85% onwards	8.85% onwards
L&T Finance Limited	8.65% onwards	8.65% onwards	8.65% onwards
Tata Capital Housing Finance	8.75% onwards	8.75% onwards	8.75% onwards
Federal Bank	8.80% onwards	8.80% onwards	8.80% onwards
Axis Bank	8.75% – 13.30%	8.75% – 13.30%	8.75% – 9.65%
Godrej Housing Finance	8.55% onwards	8.55% onwards	8.55% onwards

 Last Updated on 27 November 2024