Introducing the First-in-industry IDFC FIRST Bank's Super Account
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Convert the idle funds in your current account into a fixed deposit with the BRAVO feature.
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Tailor-made loans with minimal documentation -
Top-up up to 100% at the same rate as Balance Transfer -
Digitised process for loans up to ₹5 Cr and tenure up to 30 years -
Higher eligibility for salaried & self-employed customers
Home Loan Balance Transfer Calculator
You don't have to stay with the same home loan for the entire duration of your mortgage. By transferring your home loan, you can take advantage of low interest rates or change the loan length. Not only is it a smart way to save money, but this also gives some breathing room in your monthly expenses. IDFC FIRST Bank’s home loan balance transfer calculator helps you determine your savings and make an informed choice.
Our free and easy-to-use home loan balance transfer calculator allows you to quickly find out the amount you can transfer. IDFC FIRST Bank home loan balance transfer calculator helps estimate your savings, loan amount that you can transfer from other banks to IDFC FIRST Bank, as well as your eligibility to make your loan management convenient.
Avail of loan top-ups at the same attractive rate as balance transfers
Calculate Savings for Home Loan Balance Transfer
Monthly EMI
- IDFC FIRST Bank
- Other
Total Amount Paid
- IDFC FIRST Bank
- Other
You Save
You Save
- Your existing home loan
- IDFC FIRST Bank Home Loan
Disclaimer This calculator is meant for illustrative purposes only. The figures depicted above are indicative. Actual values may vary depending on the current repo rate. All loans are subject to approval by IDFC FIRST Bank.
Benefits of the Home Loan Balance Transfer Calculator
- Get a precise estimate of your total savings and the amount you are eligible for
- Save time and effort of contacting multiple bank executives to understand your EMI rates and cost of the balance loan
- Determine your expected repayment tenure and expected savings that can be made after the balance transfer
Eligibility
The eligibility for a home loan balance transfer depends on the following:
- Monthly income of the applicant
- Amount of home loan being transferred
- Age of the applicant
Following are the common documents required for IDFC FIRST Bank home loan balance transfer:
- Original home loan sanction documents
- Identity proof of the applicant
- Property details
- Bank statements and other financial details (depending on the type of applicant)
For self-employed individuals:
- Must be an Indian resident
- Should be between 23-70 years of age
- Must have minimum 4 years of business continuity
- Must earn minimum ₹1.5 lakh per annum
- Tenure duration: 12 months to 300 months
For salaried individuals:
- Must be a resident Indian or non-resident Indian
- Should be between 21-60 years of age
- Must have minimum 3 years of work experience
- Must earn minimum ₹1 lakh per annum
- Tenure duration: 12 months to 360 months
Frequently Asked Questions
You should consider a home loan balance transfer when paying a higher interest rate than the market standard. IDFC FIRST Bank offers competitive interest rates on home loan balance transfers. Click here to know more.
It may take around 5 to 20 days to transfer your home loan balances. The actual time may vary depending on factors such as the processing time of the existing bank and the documentation and approval from the new bank. IDFC FIRST Bank ensures quick processing for your convenience.
A home loan balance transfer doesn’t itself affect your credit score. In some ways, it can improve your credit scores, such as having fewer loan accounts and lower credit utilisations.
When you have a lower unpaid outstanding balance, transferring them to a new bank is not considered a wise decision as you won’t be able to save much. Similarly, if you are already paying interest at market standards or lower, you should not use a home loan balance transfer feature.
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