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Refinance Calculator

Evaluate home loan refinancing in Indian Rupees () to save on payments and interest.

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Calculate Your Refinance Savings

How Our Refinance Calculator Works

Our Refinance Calculator helps Indian homeowners evaluate refinancing their home loan in Indian Rupees (₹). It compares your current loan’s monthly payment and interest with a new loan’s, factoring in refinancing costs. It calculates monthly savings, total interest savings, and the breakeven point. A bar chart visualizes monthly payments and total interest for both loans.

Calculation Logic

For a ₹30,00,000 balance at 8% with 15 years left, the current monthly payment is ₹28,664, with ₹21,59,520 interest. Refinancing at 6.5% for 15 years with ₹50,000 costs yields a ₹26,141 monthly payment and 17,05,380 interest. Monthly savings are ₹2,523, interest savings are ₹4,54,140, and the breakeven point is 20 months. The bar chart compares payments and interest.

Steps to Use

Enter your current loan balance (e.g., ₹30,00,000).
Input current interest rate (e.g., 8%) and remaining term (e.g., 15 years).
Specify new interest rate (e.g., 6.5%), new term, and refinancing costs (e.g., 50,000).
Click "Calculate" to view savings and breakeven point.
Review the bar chart for payment and interest comparisons.

Why Use Our Refinance Calculator?

Refinancing your home loan can save you thousands in interest and lower your monthly EMIs, but it comes with costs. Our Refinance Calculator, designed for Indian homeowners, helps you evaluate refinancing in Indian Rupees (₹). It compares your current loan with a new one, showing monthly savings, total interest savings, and the breakeven point for refinancing costs. A bar chart visualizes payments and interest. Here’s why every Indian homeowner should use it.

Save on Monthly Payments

Lower interest rates reduce your monthly EMIs, freeing up cash for other expenses.

Significant Savings: ₹2,523 monthly savings from 8% to 6.5% on a 30,00,000 loan.
Budget Relief: ₹26,141 EMI vs. ₹28,664 fits better in a ₹60,000 income.
Flexible Terms: Same 15-year term maintains payoff timeline.

Priya, a Delhi-based teacher, refinanced her ₹25,00,000 loan from 8.5% to 6.8%, saving ₹1,800 monthly, easing her 50,000 budget.

Reduce Total Interest Costs

Refinancing at a lower rate saves lakhs over the loan term, boosting long-term wealth.

Huge Savings: ₹4,54,140 less interest on a ₹30,00,000 loan.
Rate Impact: 6.5% vs. 8% cuts interest from ₹21,59,520 to ₹17,05,380.
Shorter Terms: 10-year refinance increases EMI but saves ₹6,00,000.

Sanjay, a Pune-based engineer, refinanced his ₹40,00,000 loan from 8% to 6.5%, saving ₹6,00,000 in interest, funding his child’s education.

Evaluate Refinancing Costs

Refinancing involves fees, so understanding the breakeven point ensures it’s worthwhile.

Breakeven Point: ₹50,000 costs recover in 20 months with ₹2,523 savings.
Cost Range: ₹20,000-₹1,00,000 for processing, legal fees in India.
Long-Term Gains: ₹4,54,140 savings far exceed ₹50,000 costs.

Priya’s ₹30,000 refinancing costs broke even in 17 months, making her 6.8% loan profitable.

Tailored for Indian Homeowners

Our calculator reflects Indian loan rates (6-9%), terms (10-30 years), and refinancing costs (₹20,000-₹1,00,000). It’s free and user-friendly.

Realistic Scenarios: ₹2,523 monthly savings suit urban homeowners.
Indian Banks: Rates from SBI, HDFC at 6.5-8.5%.
Flexible: Adjust rates, terms, or costs for personalized plans.

From metro cities to Tier-2 towns, our Refinance Calculator empowers you to make informed loan decisions. Start using it above to explore savings today!