Balance Transfer Savings Calculator
Find out how much a 0% balance transfer could save you. Enter your current balance, APR and the new deal details to see your net saving after fees, and whether your monthly payment will clear the balance before the 0% period ends.
Last updated: April 2026
How balance transfers save money
A balance transfer moves your existing credit card debt to a new card offering 0% interest for a promotional period - typically 12 to 30 months. During this window, every penny of your payment reduces the principal rather than being partly consumed by interest. On a £3,000 balance at 24.9% APR, the first month's interest alone is around £62. Over 24 months of minimum payments, you would pay over £1,000 in interest while barely reducing the balance. A 0% transfer eliminates that cost entirely for the promotional period.
The transfer fee calculation
Most balance transfer cards charge a one-off fee - typically 1–3.99% of the amount transferred - applied immediately to your new balance. A 3% fee on £3,000 adds £90 to your balance. This needs to be weighed against the interest you avoid on your current card. In almost all cases where the 0% period is 12 months or more, the transfer fee is comfortably outweighed by the interest saving.
What happens when the 0% period ends
If you have not cleared the balance by the end of the promotional period, the remaining balance reverts to the card's standard purchase or balance transfer rate - often 20–30% APR. This is the key risk of balance transfers. The calculator shows whether your chosen monthly payment will clear the balance within the window. If it will not, either increase your monthly payment or plan to do a second transfer before the promotional rate expires.