How to use this calculator
- Enter outstanding loan balance, current nominal annual rate (%), current remaining months, new nominal annual rate (%), new loan months, cash refinancing costs.
- Choose a display currency, then select Calculate. Results also update after a brief pause while you edit.
- Read the result with the assumptions below. Export details or save a second scenario to compare your choices.
Formula and method
Assumptions and limitations
The same outstanding principal is refinanced; no cash-out or capitalized fee. Nominal totals ignore discounting and tax effects.
Worked example
Refinancing 12,000 from 24 to 36 zero-interest monthly payments reduces the installment but adds 300 to total cash cost if fees are 300.
What the result means
Evaluate payment reduction and lifetime remaining cost together, including a possible term extension.
Common questions
How is the calculation performed?
Compare remaining payments on the current balance with new-loan payments plus cash refinancing costs. Cash savings = old remaining total − new total.
What does the model leave out?
The same outstanding principal is refinanced; no cash-out or capitalized fee. Nominal totals ignore discounting and tax effects.
Methodology and transparency
Calculation specification reviewed on 2026-10-14. Mathematical implementation is tested against independent reference fixtures. This does not imply review by a licensed financial professional. Read the testing and precision policy.