Refinance Calculator
Free refinance calculator: compare your current loan with a new rate, tenure and refinancing costs to see the new EMI, monthly savings and total savings.
Refinance Calculator — Should You Switch Your Loan to a Lower Rate
Interest rates change. The home loan you took at 9.5% three years ago might now be available at 8.25% with a different lender. But is balance transfer or refinancing actually worth it after considering processing fees, legal charges, and stamp duty? Our Refinance Calculator does the math for you, showing the exact savings (or losses) from switching.
Enter your current loan details and the new offer's terms. See your new EMI, the monthly saving and the total saving over the loan term, after refinancing costs. No signup, no cost.
How to Use the Refinance Calculator
1. Current Loan Details
Enter outstanding principal, current interest rate, and remaining tenure on your existing loan.
2. New Loan Offer
Enter the rate and tenure offered by the new lender for the balance transfer or refinance.
3. Switching Costs
Add up all your switching costs — processing, legal and valuation fees and any prepayment penalty — and enter the total.
4. View Savings
See both EMIs, the monthly saving, the total interest on each loan (the new one including your costs) and the total saving over the term.
Refinance Calculator Features
Side-by-Side Comparison
Compare current EMI, total interest, and remaining payments against the refinanced loan in one view.
Monthly and Total Savings
See what you save every month and over the whole term; if the total is negative, switching costs you more than it saves.
All Switching Costs
Enter your total switching costs as one figure; it is added to the new loan’s interest, so the savings shown are after costs.
Visual Comparison
A bar chart puts your current EMI and the new EMI side by side.
Type or Slide
Drag a slider, or type an exact figure into the box beside it — typed amounts can go past the end of the slider.
Free and Private
No signup, no tracking. Runs entirely in your browser.