🔄 Refinancing Savings Calculator
Compare your current loan rate to a new rate and find out how much you could save by refinancing.
📝 Your Loan Details
Current Loan
New Loan
📊 Your Results
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Enter your loan details and click Calculate Savings.
Net Savings After Costs
$0
over the remaining loan term
Current vs New Loan
Current Loan
—
—
total interest
✅ New Loan
—
—
total interest
Payment Saving—
Gross Interest Saved—
Refinancing Costs—
Net Savings—
Break-Even Point—
Rate Difference—
💡 When Does Refinancing Make Sense?
📉
Rate Drop of 0.5%+
A difference of at least 0.5% p.a. is often needed to justify refinancing costs.
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Check Break-Even
Divide refinancing costs by your saving to see how quickly you recover the costs.
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Watch Break Fees
Fixed-rate loans may have exit or break costs.
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Compare Total Cost
A lower rate with high fees may not always save money.
⚠️ Disclaimer: This calculator is for illustrative purposes only and does not constitute financial advice.
See our full Disclaimer.
Ready to Find a Better Rate?
Browse our loan guides to compare refinancing options.