Question 1

What is a balance transfer calculator?

Accepted Answer

A balance transfer calculator estimates how much you save in EMI and total interest when you move an existing loan from one lender to another at a lower interest rate. The SalesIQ calculator also factors in foreclosure charges so the savings number is realistic.

Question 2

How accurate is the MSME balance transfer calculator?

Accepted Answer

It uses the standard EMI formula and a Newton-Raphson solver to derive any missing input, then deducts foreclosure charges entered by the user. Final disbursal terms depend on the new lender's credit assessment.

Question 3

Does a business loan balance transfer cost money?

Accepted Answer

Most lenders charge 2-4% foreclosure on the outstanding principal plus GST, and the new lender charges a processing fee (typically 0.5-2%). The calculator includes both so you see the break-even month.

Question 4

When is a balance transfer worth it?

Accepted Answer

A balance transfer is usually worth it when the new rate is at least 1.5-2% lower than your current rate, the remaining tenure is 18+ months, and the savings exceed foreclosure + processing fees within 6 months.