Refinance savings
See what a lower rate could save you, and when you'd break even on the switch.
New monthly repayment
$3,191
Monthly saving
$185
Break-even on switching costs
6 months
Net saving over remaining term
$54,507
When refinancing pays for itself
Estimates only, for illustration — they assume a constant rate over the remaining term and exclude fixed-rate break costs, offset accounts, cashback and any new fees. Not financial advice. Talk to us for figures based on your situation.
About this calculator
Refinancing means moving your home loan to a new rate or lender. A lower rate can cut your repayments and the interest you pay over the remaining term — but switching has costs (discharge, application and valuation fees), so it's worth checking how long it takes to come out ahead.
Enter your current loan and a new rate to see your new repayment, the monthly and lifetime saving, and the break-even point — the number of months of savings it takes to cover the switching costs. After that point, you're in front.
How it's calculated
- We calculate your current and new repayments on your balance over the remaining term, at each rate.
- The monthly saving is the difference; the total saving is the interest saved over the remaining term, less your switching costs.
- Break-even is your switching costs divided by the monthly saving — how long until the move pays for itself.
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