Balance Transfer Calculator

They overlap conceptually — this calculator specifically models moving your entire outstanding balance from your current lender to a new one for a better rate. Refinance is the broader term that can also include restructuring with your existing lender.

Typically a processing fee on the new loan and possibly a foreclosure charge from your existing lender — both reduce the net savings from the lower rate and should be included in the comparison.

It can, since the new lender starts a fresh loan against your transferred balance — check whether you're keeping your original remaining tenure or extending it, as this affects total interest paid.

Often not — if only a small principal or short tenure remains, the fixed fees involved can outweigh the interest savings from a lower rate. This calculator helps quantify that trade-off.

Many lenders do offer additional top-up funds alongside a balance transfer — see the Loan Top Up calculator to estimate the EMI impact of adding that extra borrowing.