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Loan Comparison

Two rates on the same principal and tenure.

Loan A costs less
₹77,170 saved
EMI A (8.5%)
₹4,339
EMI B (9.5%)
₹4,661
Total A
₹10,41,388
Total B
₹11,18,557

Two EMIs on the same principal and tenure at rate A and rate B. The gap in total payable is the number that matters for a refinance decision, before fees.

Worked example: ₹10,00,000 over 20 years at 8.5% versus 9.5%. The monthly gap looks small. The total-interest gap over 240 months does not. Balance-transfer fees can eat the first year of that gap. Subtract the fee before you call it a win.

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