Calculators · Refinancing
Is your rate costing you?
Pop in your current rate and one you're comparing to see the monthly saving, the saving over your loan, and how long it takes to cover the switch costs.
The rate you're comparing against. I don't quote a rate here.
Rough discharge and setup fees. Varies by lender.
You could save each month
$188.57
That's about $2,263 a year.
A lower rate is only half the story
Switching has its own costs, usually a discharge fee from your old lender and a setup fee with the new one. The saving just needs to outweigh them, and this calculator shows you roughly when that happens. Loan features like an offset can matter as much as the headline rate too.
Sometimes the fastest win is a quick call to your current lender asking them to sharpen up. Either way, my refinancing guide walks through the whole process, and I compare more than 40 lenders through my refinancing service.
Curious what rate you'd actually get?
Book a free loan review and I'll tell you straight if there's a better deal out there. No fees, no obligation.
Important information
This information is general in nature and does not take your personal objectives, financial situation, or needs into account. It is not credit assistance or a recommendation to enter into any particular credit contract. Consider whether it is right for you and seek advice before acting. Lending is subject to a lender's eligibility and approval criteria. Terms, conditions, fees, and charges apply. Savings are estimates based on the rates and figures you enter, assuming the same loan term and a constant rate. Actual savings depend on the lender, fees, and your circumstances.
Greenwood Finance · ABN 23 671 049 693 · Credit Representative No. 551942.