Refinance Savings Calculator
Calculate how much you can save by refinancing to a lower interest rate.
Should You Refinance?
Savings = (Old EMI - New EMI) × Months - Closing Costs
Refinance Reasons
- Lower Rate: Reduce monthly payment
- Shorter Term: Pay off faster
- Fixed Rate: Lock in from floating
Frequently Asked Questions
How much can I save refinancing?
Depends on rate difference and remaining term. Use calculator above for exact savings.
Should I extend term when refinancing?
Lower EMI but more total interest. Shorter term saves more overall.