Mortgage Refinance Calculator India — Home Loan Balance Transfer Savings

Last updated: 29 April 2026 Reviewed by Arjun Mehta, CA

**Mortgage refinancing** (balance transfer) means moving your home loan to a lender offering a lower interest rate. A drop of even 0.5% on a ₹50 lakh loan can save ₹3–5 lakh over 15–20 years. However, refinancing involves processing fees (0.25–1%), legal charges, and sometimes prepayment penalties — this calculator finds the break-even timeline and net savings.

Mortgage Refinance Amount (₹) Total mortgage refinance amount

Interest Rate (% p.a.) Annual interest rate

Loan Tenure (Months) Repayment period in months

Monthly EMI —

Total Interest Payable —

Total Payment —

View Year-by-Year Breakdown

Real-World Examples — 2026

₹20 lakh mortgage refinance at 8.5% for 20 years

A ₹20 lakh mortgage refinance at 8.5% p.a. over 20 years results in an EMI of approximately ₹17,357. Total interest paid over the term is ₹21.66 lakh — making total cost ₹41.66 lakh.

₹50 lakh mortgage refinance at 9% for 15 years

Borrowing ₹50 lakh at 9% for 15 years gives an EMI of ₹50,713. Total interest is ₹41.28 lakh. Reducing tenure to 10 years cuts total interest to ₹26.03 lakh, saving ₹15.25 lakh.

Frequently Asked Questions

How accurate is the Mortgage Refinance Calculator?

The Mortgage Refinance Calculator uses standard financial formulas. Results are indicative; actual figures depend on your lender or financial institution's policies.

Is the Mortgage Refinance Calculator free to use?

Yes, the Mortgage Refinance Calculator on CalcPhi is completely free with no registration required.

Are my data inputs stored?

No. All calculations happen in your browser. We do not store any of your financial data.

How often are the Mortgage Refinance Calculator rates updated?

Rates in examples are updated periodically to reflect current market conditions. Always verify with your bank or advisor.

Can I use the Mortgage Refinance Calculator on mobile?

Yes. CalcPhi is fully mobile-optimised. The calculator works on all modern smartphones and tablets.

Who should use this calculator?

Anyone in India planning their finances can benefit from the Mortgage Refinance Calculator. It's designed for both beginners and experienced investors.