Personal Loan
Balance Transfer Calculator

Your family’s happiness. Guaranteed!

Due to an urgent need for additional funds, you may have taken a personal loan at a high rate of interest. You would be paying an EMI for your existing personal loan.

What if you could reduce your existing EMI without increasing your loan burden?

Thanks to the personal loan balance transfer facility, this is easily possible. We at SMFG India Credit understand how much your dreams mean to you, and the value of your money. Thus, we offer you the option of consolidating all your loans at a competitive rate of interest starting from 13%* with the personal loan balance transfer facility.

Personal Loan Balance Transfer Calculator

Wondering how personal loan balance transfer can affect your savings? Use the personal loan balance transfer calculator below to figure out the savings on your EMI as well as interest payable.

* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.

Existing Loan Details
Choose New Plan

Tell us about your current loan

1. Loan Details

Your Loan Amount

Tenure In Months

Months

Rate of interest of current loan

Your Existing EMI

Overall interest payable

Total no. of EMI paid

+ Add Another Loan

Max 5 Loans

Cumulative Principle Outstanding - ₹ 0

Disclaimer: The values above are for demonstration purposes only. The aim of this calculator is to provide you an idea of how a balance transfer can help reduce your monthly obligations. Please note that the actual eligibility and the balance transfer rate of interest will depend on various criteria, including SMFG India Credit’s policy at the time of loan application. To know more, please contact us or apply now.

How to Use the Personal Loan Balance Transfer Calculator?

Enter the total loan amount
Enter the rate of interest charged by your current lender
Enter the overall tenure of the loan
Enter the number of EMIs which you have already paid
If you have more than one ongoing personal loan, click the “+” sign and add the details. You can add up to 5 loans using this calculator.
Next, enter your net monthly income.
Use the sliders to vary the interest rate and tenure if you transfer all your loans to SMFG India Credit. Please note that the actual interest rate will be conveyed to you only after you apply to us, and after we assess your eligibility.
You will be shown your current outstanding loan amount and the loan amount you may be currently eligible for based on the entered information.
Select an amount to proceed.
You will be shown the new EMI and interest rate if you take a personal loan balance transfer for the selected amount, as well as the total savings in EMI and interest payable.

How to apply for a Personal Loan Balance Transfer with SMFG India Credit?

If you are interested in transferring your existing personal loans, here’s how you can apply:

Click on the “Apply now” button on the top right of this page. Select “Personal Loan”. Enter your mobile number, and if you are salaried or self-employed. You will be sent an OTP - please enter the same as indicated on the page, and click “Submit”. Complete the application form and upload the documents as requested. If your application is deemed eligible based on the information provided by you, you will receive a call from a SMFG India Credit representative to take you further.
Call Customer Care on our toll-free number 1800 103 6001 anytime between 9.00 a.m. to 7.00 p.m. on all days (excluding public holidays, Sundays & fourth Saturday of every month)
Walk into your nearest SMFG India Credit branch anytime between 9:00 AM - 6:00 PM (except Sundays, 4th Saturdays and public holidays). Our representatives will be happy to help you.

* Please note that this article is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us

FAQs

How does the Personal Loan Balance Transfer Calculator work?

A Personal Loan Balance Transfer Calculator considers your existing loan's terms and presents a potential new loan plan. By inputting details such as your current loan balance, interest rate, and tenure, it calculates potential savings, new EMIs, and overall interest payable, helping you assess benefits.

Will the calculator show the exact EMI after a balance transfer?

The calculator provides an estimate of the new EMI after a balance transfer based on the information you enter, such as the new interest rate (set by the lender) and tenure. However, the exact EMI may vary slightly depending on factors like the final interest rate determined by the lender.

Can I use the calculator to see how much interest I can save by transferring my loan?

Yes, you can use the Personal Loan Balance Transfer Calculator to estimate how much interest you can save by transferring your loan.

Will the balance transfer affect my credit score?

A balance transfer can impact your credit score. If you manage the new loan responsibly with timely payments, it can improve your score. However, missing payments or taking on additional loans during repayment may negatively affect your credit score.