Refinance Calculator AU
Table of contents
7 sections
How to check whether the timing of a refinance fits your plans
Measure the benefit you can actually compare
Gather a written offer and compare it with your current loan using the free refinance calculator. Use the same remaining term initially, and include monthly and annual account fees. A lower rate can be offset by larger fees or extra borrowing.
Write down any non-price reason for the change, such as a different repayment structure or account feature. The tool cannot value every feature for you. Keep a separate note of benefits you need to confirm with the lender.
Compare break-even with your holding period
Use the break-even calculator with all switching costs, any eligible cashback and monthly savings after ongoing fees. Compare its estimated recovery period with how long you expect to keep the new loan.
In the illustrative screenshot, $4,200 of costs and $200 monthly saving produce a 21-month break-even. At 18 months, the simplified cash-flow position is $600 behind; at 36 months it is $3,000 ahead. These are constant-input examples, not a forecast of rates, loan balances or your outcome.
Check the term and features before deciding
A fresh 30-year term may reduce a repayment while extending the debt. Request schedules for the proposed term and compare total interest, not only the first repayment. The main calculator uses one remaining term for both loans; it cannot show different terms in a single comparison.
List the offset, redraw and repayment flexibility you currently use. Confirm how the new product treats them and include their fees. If your fixed term is ending or you may leave it early, use the fixed-rate refinance guide before relying on a switching estimate.
Compare switching with a retention offer
Ask your current lender for a revised rate or fee arrangement and record the terms in writing. Use the two-offer comparison calculator to compare that option with the external quote.
If costs will not be recovered during your expected holding period, the purely financial case needs another look. If you still want to change for a particular feature, identify its value and cost explicitly. Use the checklist to keep the missing facts visible before applying.
Reasons to pause and check the numbers
- You expect to sell or change loans again before recovering the switching cost.
- The saving depends on cashback whose conditions are not confirmed.
- The new repayment is lower mainly because the term is longer.
- A quoted break cost is missing or no longer current.
- The new product removes a feature you use, or your circumstances have changed since the quote.
A zero or negative monthly saving means there is no positive cost-recovery period in the simple break-even formula. It is a signal to revisit the inputs and reasons for changing, not to assume a future rate reduction will solve the difference.
Sources and calculator limits
Sources checked on 28 October 2026. Examples use fixed inputs; actual fees, rates, valuations and approval rules can differ. Read the calculator assumptions and limitations. For questions about the site, contact us. About Sana Hosseni and the calculators.
Continue exploring
Where will your next move take you?
Choose the calculator or guide that helps you understand your next refinance decision. Browse all calculators or explore the guides.
Calculators and practical guides
Compare your current loan with a new loan, including repayments, fees and payoff time.
Work out your loan-to-value ratio, equity and distance from 80% LVR.
Estimate your usable equity and the loan amount at your chosen LVR.
Compare two offers against your current loan, including fees and cashback.
Add up switching costs and estimate how long your savings take to cover them.
