Now you can calculate how much you can save by switching your home loan instantly with Deal4loans.com’s online home loan balance transfer calculator. All one needs to do is insert their current home loan rate and prepayment charges, and based on this information the calculator will give instant quote of four other banks and also tell you how much of can save on each of them.
Deal4loans.com is India’s leading online retail distribution channel, an independent loan comparison service having tie-ups with all major banks in India. With their new calculator a customer can find out how much he/she saves by transferring their existing loans to another bank which has lower rates. With prepayment charges being reduced to nil now, the possibility of saving more by switching your home loan is higher.
In times of financial crunch, people want to save more and more on their loan quotes and limit their spending, and this scenario switch to save is gaining popularity, especially in India. With the Home Loan Calculator, users can know how much of their hard earned can be saved. All one needs to do is make a few calculations with the help of this online tool. According Deal4loans.com, even a 15 reduction in interest rate can help you save more money than Rs. 1.5 lakh on a Rs. 10 lakh loan for 20 years.
Of course, the calculator also comes with a small thumb rule. One should only consider switching the home loan only if the difference between interest rates is at least 1.5 – 2%, with a remaining tenure of 8-10 years.
The calculator is very reliable coming for Deal4loans.com, which now gets more than 1.5 lakh consumer requests for loans credit cards.