Balance Transfer Calculator

To calculate the top-up loan amount you are eligible for, you just need to fill in information about your current loan amount, EMIs and the loan tenure. Upon entering the required details, the result will show the foreclosure charges you will have to pay to close your current loan and the net cash in hand you will get after the closure of your current loan.

Calculate your EMI

Current Loan Details

Original Loan Tenure
Months
18
18
18
60
  18  Months  Months  60
Number of EMIs Paid
Months
12
12
12
60
  12  Months  Months  60

Required Loan Details

Duration of Loan
Months
12
12
12
60
  12  Months  Months  60
Interest Rate i
*Rate of interest can vary subject to credit profile. Loan approval is at the sole discretion of the finance partner.
(P.A.)
%
12
12
25
  12  %  %  25
EMI PER MONTH
27,721
Total Loan Amount3,12,000
Foreclosure Charges0
Cash In Hand3,12,000

What is Balance Transfer & Top-Up Loan?

Balance transfer is a strategic move. It involves shifting the outstanding balance of your existing car loan from one lender to another. By making this switch, you can save money on interest payments, lower your monthly EMIs, but majorly secure additional funds through a top-up loan.

Benefits of Balance Transfer & Top-Up Loan

  • instantloan

    Savings

    The primary benefit is substantial savings on your car loan, thanks to lower interest rates.

  • shorttermloan

    Financial Flexibility

    Enjoy improved loan features and repayment terms that better align with your financial goals.

  • pre-approveloan

    Reduced Costs

    Say goodbye to excessive fees and charges, as you minimize the costs associated with your loan.

  • personalloan

    Lower Monthly Payments

    By negotiating improved terms, you can lower your monthly expenses, freeing up cash for other priorities.

  • balancetransfer

    More Money in Your Pocket

    The overall result? More money in your pocket, thanks to reduced car loan costs and potential top-up funds.

  • instantloan

    Savings

    The primary benefit is substantial savings on your car loan, thanks to lower interest rates.

  • shorttermloan

    Financial Flexibility

    Enjoy improved loan features and repayment terms that better align with your financial goals.

  • pre-approveloan

    Reduced Costs

    Say goodbye to excessive fees and charges, as you minimize the costs associated with your loan.

  • personalloan

    Lower Monthly Payments

    By negotiating improved terms, you can lower your monthly expenses, freeing up cash for other priorities.

  • balancetransfer

    More Money in Your Pocket

    The overall result? More money in your pocket, thanks to reduced car loan costs and potential top-up funds.

Using Our Balance Transfer Calculator

Our intuitive Balance Transfer Calculator is your tool for assessing your potential savings. Just enter your current loan details along with the details of the loan required and we'll provide you with the EMI and your total loan amount

Empower Your Finances

It's time to take charge of your financial future. Use our calculator to uncover the money-saving opportunities that balance transfer and top-up car loans can provide. Whether you want to keep more money in your bank account, lower your monthly expenses, or secure extra funds, our calculator is your ticket to a brighter financial future.

Ready to unlock your money-saving potential? Try our Balance Transfer Calculator now and take the first step towards a more financially secure tomorrow.

Frequently Asked Questions

What is balance transfer & top-up loan?

Balance transfer is the process of transferring outstanding balance of the running loan from one bank to another. Balance transfer is generally availed to save interest and to reduce EMIs by switching to a lower interest rate loan and to get additional cash top-up on the existing loan from another financier.

What are the benefits of balance transfer & top-up loan?

There are multiple benefits of balance transfer and top-up car loan which includes, more affordable interest rates, better loan features, lower fees and charges associated with the loan, better repayment terms, and overall reduction in the car loan cost and top-up on the existing car loan.

Who is eligible for a balance transfer & top-up loan?

A borrower with a running car loan on which he has regularly paid at least 12 EMIs is eligible to balance transfer their car loan to another bank and can also avail top up loans at the time of loan transfer. A few financiers like Axis bank accepts applications for balance transfer once the borrower has regularly paid at least 18 EMIs

How much finance I can avail through balance transfer & top-up loan?

Financing amount will depend upon the current valuation of your car, most of the financiers provide funding from 100% to 150% of the current valuation of the car, and a few financiers like IDFC First Bank provide funding up to 200% of the current valuation of the car.

What are the tenure options available for balance transfer & top-up loan?

Borrowers can apply for balance transfer and top-up loan after regularly paying at least 12 EMI’s against their running loan. Tenure of the loan will depend up on the principal amount and age of the car. Generally, leading financiers provide balance transfer loans for a tenure of up to 5 years.

What are the documents required for balance transfer & top-up loan?

To process your loan application with the chosen lender, you would be required to submit a summary from your current lender with details about your existing loan including outstanding principal, interest, and the remaining tenure, a few more documents such as income proofs (Form 16/salary slips/ITR), bank statement, KYC documents (PAN, Aadhaar) will also be required to process the loan application.

What are the charges for balance transfer & top-up loan?

While running through the process of balance transfer and top-up loan, a borrower needs to pay pre-payment or foreclosure fee payable to existing bank, processing fee to the new bank, and stamp duty on loan agreement in some states.

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Disclaimer: As per the information entered by you the calculation is performed by Top-up Loan Amount Calculator and the amount of installments does not include any other fees charged by the financial institution / banks like processing fee, file charges, etc. The amount is in Indian Rupee rounded off to the nearest Rupee. Depending upon type and use of vehicle, regional lender requirements and the strength of your credit, actual and resulting monthly payments may vary. Exact monthly installments can be found out from the financial institution.
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