Refinance savings calculator

What the Calculator Compares

We look at the difference between your current loan and a potential new loan by comparing:

• Interest rates – even a 0.50% reduction can make a big difference over time.

• Remaining loan term – refinancing into a fresh 30-year term reduces repayments but may increase total interest.

• Monthly repayment differences – we show how much you could save each month.

• Total interest savings – how much you could reduce your loan cost across the remaining term.

Note: This calculator provides an estimate only — actual savings depend on your lender, fees, and whether you keep or shorten your loan term.

Key Factors:

• Break or discharge fees – check with your current lender for exit costs.

• New loan setup costs – many lenders waive these, but it varies.

• Fixed-rate loans – breaking a fixed term early may trigger penalties.

• Loan term reset – extending the loan term can lower repayments but increase lifetime interest.

• Features you want – offset account? redraw? split loan? Your new loan should support your financial goals, not just offer a better rate.