Calculator
Switching calculator
Compare your current loan with a new rate, including the cost of switching, and see when you would break even.
Estimate only, using the figures you enter. Not a quote or offer of credit, and it does not consider your objectives, financial situation or needs. Loan products have a comparison rate, fees and charges.
How this works
- Compares three options: keep your current loan; refinance and pay the new minimum; or refinance and keep paying what you pay now.
- Your current loan's discharge fee and the new loan's upfront fees are added to the new loan amount.
- The new loan reverts to the standard rate when the introductory period ends, and the repayment is recalculated over the remaining term.
- Interest compounds at your repayment frequency. Features such as offset accounts and redraw are not included.
Worth a read.
Refinancing your home loan: reasons, costs and how to compare
Why people refinance, the full cost of switching home loans, what to watch for with cashback offers and how a broker compares your options.
Lenders mortgage insurance (LMI): what it is and how to reduce it
What lenders mortgage insurance is, who it protects, when it usually applies, how it's paid and the main ways home buyers can reduce or avoid it.