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How the calculate the total out flow.

By IndianMoney , 8 months ago

Though the new lender tries to attract you by reducing your monthly EMI and giving you a longer span to repay, you must be clear that your new loan is not adding to your financial burden. If you want to opt for balance transfer then you must first compare the overall outgo for both banks and then take the decision. The overall outflow can be calculated by summing up your overall cost of the loan plus the extra amount you need to pay for the balance transfer.

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