Balance Transfer Calculator

Transfer your outstanding loan amount from one lender to another, at a lower rate of interest. Calculate your new EMI for different interest rates, loan amounts and tenures, using Andromeda’s Balance Transfer Calculator.






Current EMI


Monthly EMI Saved


Total Savings


How to use Andromeda’s Balance Transfer Calculator?

Andromeda’s Balance Transfer Calculator is easy, intuitive, and instantaneous. Calculate the new EMI amount for your Home Loan, Car loan, Personal Loan, Education Loan, or any other fully amortising loan using our Balance Transfer Calculator.

All you need to do is enter the following information in the Balance Transfer Calculator:

  • Current outstanding loan amount (in rupees)
  • Current rate of interest (in percentage)
  • Loan tenure (in months)
  • EMI paid (in months)
  • New rate of interest (in percentage)

Use the slider to adjust the values in the EMI Calculator form or enter the values directly in their relevant boxes. Andromeda’s Balance Transfer Calculator will re-calculate your new EMI accordingly, and present the information in a pie chart depicting the break-up of your new EMI payable, and the monthly EMI saved.

Frequently Asked Questions

When you do a loan balance transfer, your new lender pays off your outstanding loan amount to your current lender. You might need to pay your current lender a prepayment penalty, and your new lender a processing fee, but the savings you make from the new lower interest rate can significantly compensate for the expenses involved.

Yes, you can transfer your Personal Loan balance from your current lender to another who offers you a lower interest rate. And no, the Personal Loan balance transfer process does not require any security or collateral to be provided to the new lender. Although keep an eye out for certain foreclosure charges that are levied by your current lender, and processing fees that may be charged by your new lender.

Here are some of the benefits of transferring your loan balance:

  • Lower Interest Rate: Loan Balance transfer is done at a lower interest rate, thereby reducing your overall interest burden thanks to a reduced EMI amount payable.
  • Extended Loan Tenure: While transferring your loan to a new lender, you can renegotiate the tenure of your existing loan, and get the repayment tenure extended or reduced to suit your needs.
  • Top-up loan Facility: Most banks offer a top-up loan facility upon transferring your loan to them. These top-ups come at an extremely competitive price, and a relatively lower rate of interest.