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
Required Loan Details
Total Loan Amount | ₹3,12,000 |
Foreclosure Charges | ₹0 |
Cash In Hand | ₹3,12,000 |
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
Savings
The primary benefit is substantial savings on your car loan, thanks to lower interest rates.Financial Flexibility
Enjoy improved loan features and repayment terms that better align with your financial goals.Reduced Costs
Say goodbye to excessive fees and charges, as you minimize the costs associated with your loan.Lower Monthly Payments
By negotiating improved terms, you can lower your monthly expenses, freeing up cash for other priorities.More Money in Your Pocket
The overall result? More money in your pocket, thanks to reduced car loan costs and potential top-up funds.
Savings
The primary benefit is substantial savings on your car loan, thanks to lower interest rates.Financial Flexibility
Enjoy improved loan features and repayment terms that better align with your financial goals.Reduced Costs
Say goodbye to excessive fees and charges, as you minimize the costs associated with your loan.Lower Monthly Payments
By negotiating improved terms, you can lower your monthly expenses, freeing up cash for other priorities.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.
FAQs
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.