Compare your existing home loan against a proposed package across monthly repayments, remaining interest and refinancing costs.
Estimates are a guide and do not confirm bank approval, legal treatment, tax treatment or transaction costs.
Review both loans on a consistent basis so the potential savings are easier to interpret.
See how your estimated monthly instalment changes based on the proposed interest rate and loan tenure.
Compare the estimated interest payable over the same comparison period.
Include legal fees, valuation charges, administrative fees and other applicable switching costs.
Assess the potential benefit after deducting the relevant refinancing costs from the estimated savings.
Break-even indicates how long the estimated monthly savings may take to recover the upfront cost of refinancing.
Compare both loans using the same outstanding balance and remaining tenure where possible, so the savings are not distorted by different assumptions.
Refinancing may be less beneficial if you expect to sell the property, redeem the loan or switch packages again before the upfront costs are recovered.
Do not assess a package based only on its introductory rate. Review the pricing structure across the period you expect to keep the loan.
Compare your existing bank’s repricing offer against refinancing packages from other banks before deciding which option offers better overall value.
Switch to another home loan package with your existing bank. The process is usually simpler and may involve lower switching costs, but your choices are limited to that bank’s available packages.
Transfer your outstanding home loan to another bank to access a wider range of packages. Legal work, valuation requirements, refinancing costs and existing loan conditions should be factored into the comparison.
Understand how to interpret your refinancing savings estimate before deciding whether to switch your home loan.
A refinancing calculator compares your existing mortgage against a proposed package using inputs such as outstanding loan balance, interest rate, remaining tenure and switching costs.
It can help estimate changes in monthly repayments, interest costs, potential savings and the time needed to recover refinancing expenses.
Gross savings refer to the estimated reduction in repayments or interest before refinancing costs are taken into account.
Net savings provide a more meaningful comparison by deducting relevant switching costs such as legal fees, valuation charges and other applicable expenses.
The break-even period is the estimated time required for your accumulated savings to recover the upfront costs of refinancing.
For example, if refinancing costs are substantial but the monthly savings are relatively small, it may take longer before the switch produces a net financial benefit.
Using the same remaining tenure creates a more meaningful like-for-like comparison.
If the new loan is stretched over a longer tenure, the monthly instalment may appear lower even though the total interest paid over time could increase.
Common costs may include legal fees, valuation fees, administrative charges and any applicable redemption penalties.
You should also check whether your existing loan requires repayment of legal subsidies, cash rebates or other incentives under a clawback provision.
No. The calculator provides an estimate based on the information and assumptions entered. Actual refinancing terms remain subject to the bank’s credit assessment, property valuation, loan-to-value requirements, borrower profile and prevailing package conditions.
No. A lower headline rate can reduce interest costs, but the actual benefit depends on switching expenses, the new package’s later-year pricing, lock-in conditions and how long you expect to keep the loan.
The more useful measure is the estimated net saving over your expected holding period.
Repricing means switching to another package with your existing bank.
Refinancing means moving your outstanding home loan to another bank.
Repricing may involve fewer administrative steps and lower switching costs, while refinancing allows you to compare a broader range of packages across different lenders.
They can reduce your upfront refinancing cost, but they should not be viewed in isolation.
Banks may attach conditions or clawback periods to subsidies and rebates. These terms should be considered together with the package rate, lock-in period and your expected holding period.
Some mortgage packages offer a lower rate during the initial period before moving to a different pricing structure later.
If you expect to keep the loan beyond the introductory period, later-year pricing can materially affect your overall interest cost and should be included in the comparison.
Review current refinancing packages alongside lock-in periods, later-year pricing and other key terms before deciding whether to switch.
